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504 afleveringen, van nieuw naar oud
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How to Build a Holdco (4 Acquisitions So Far)
24 januari 2022 · 44 min
With 4 acquisitions since starting in 2018, Justin Turner explains how his team is building a permanent equity holdco. Lees meer
Themes from Justin’s interview:
The appeal of holding on to companies for a longer period
Why buying a $4-5M business might be easier than buying a $1M one
Letting the seller relationship develop naturally
Why paving companies make great acquisitions
Waiting to finalize the equity until after the deal is in hand
Setting acquisitions up in a holdco structure
Reach Justin at:
j turner at traction cp dot com
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Buying a Business & Having a Blast
18 januari 2022 · 46 min
@Fundof1 was searching for a business in a tight geography, and found a great fit in a $760k appliance repair company. Lees meer
Themes from John’s interview:
Buying a $760k appliance repair company
How to balance very specific search criteria
Choosing a steady industry
Walking into a business with an established sense of community
Deciding between using investors or not
Focusing on improving the business rather than day-to-day operations
Remembering to have fun
Building trust with employees who don’t work in the office
Reach John at:
@Fundof1
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Buying a Manufacturer with 1 Good Employee & 2000 SKUs
13 januari 2022 · 50 min
Knowing zero about manufacturing, Josh Paulson found purpose when he bought a small & struggling producer of pet cages. Lees meer
Themes from Josh's interview:
Owning the business saved his life
What manufacturing is like
Firing all but 1 employee (who spoke little English)
Reducing the product line from 2000 SKUs
Rebuilding a business with limited resources
Reach Josh at:
Quality Cage
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The Key to a Profitable Liquor Store
10 januari 2022 · 31 min
Devin Wanzor went from a corporate gig with 50 employees to buying a $3M liquor store and playing golf 3 times a week. Lees meer
Themes from Devin's interview:
What makes Devin's liquor store so profitable
The major risk involved in acquiring a liquor store
The self-image shift from corporate manager to liquor store owner
Boosting revenue with an easy price cleanup
Maintaining a 15-hour workweek
Reach Devin at:
@DevinWanzor
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It's All Your Fault: How to Become CEO of Your Acquisition
3 januari 2022 · 51 min
Mike Curry bought a business only to struggle for years as its new CEO. He shares the lessons that unlocked 2x growth. Lees meer
Themes from Mike’s interview:
Entrepreneurship through acquisition (ETA) isn’t just for MBAs
Buying a business is art and science
The perks of the traditional search fund model
Building a strong community of fellow entrepreneurs
Becoming CEO of an established company
Earning your employees’ trust
The need for diverse business leaders
Reach Mike at:
mcurry at apex physics dot com
Official episode page & full show notes at AcquiringMinds.co:
It's All Your Fault: How to Become CEO of Your Acquisition
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A Cautionary Tale of Buying Too Small
20 december 2021 · 1 uur 7 min
JD Klein bought a print shop for $100k, thinking such a small acquisition carried little risk. The opposite was true. Lees meer
Themes from JD's interview:
Running a strong-growth, low-margin business
Selling your house to make ends meet
Why very small businesses come with higher risk
Acquirers should hire a financial planner
Pivoting your strategy when uncontrollable roadblocks emerge
Pros & cons of the printing industry for acquirers
Personal victories vs. financial victories
Reach JD at:
@jdklein33
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Choosing Laundromats over Real Estate
16 december 2021 · 51 min
Geoff Oliver bought 2 laundromats in rural Texas. He shares his numbers & what to consider when acquiring a laundromat. Lees meer
Themes from Geoff's interview:
How working as an SBA lender lit a fire for acquisitions
Looking for a real estate investment and finding a great business instead
What makes laundromats competitive
Self service vs. full serve
Why quality of laundromat equipment can matter more than earnings
Understanding your customers’ preferences before making changes
The growth potential of asset-heavy businesses
The appeal of “zombiemats”
How to hire a manager for your laundromat
Reach Geoff at:
@GeoffOliverATX on Twitter
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5 Takeaways from Harvard's ETA Conference
13 december 2021 · 36 min
Harvard's acquisition entrepreneurship conference took place last week. Organizer Michael Ledecky shares 5 takeaways. Lees meer
Themes from Michael's interview:
Buy a good business in a great industry
4+1 Model for searching
3 industries for acquisition entrepreneurs to consider
Mental health in search
Women in search
Thai Lee, acquisition entrepreneur who became a billionaire
Diversifying paths of search
Predictions for search in 2022 & 2023
Tons of names & resources cited in this episode. Here they all are:
Michael Ledecky
2021 ETA Conference
Entrepreneurship Through Acquisition Club at HBS
The book that inspired Michael, HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company
The authors and HBS professors: Royce G. Yudkoff & Richard S. Ruback
Pacific Lake, and partners Coley Andrews & Jim Southern
The 4 + 1 Industry Search Framework by Pacific Lake
Steve Divitkos' episode on Acquiring Minds, From Search Misery to Successful CEO
Paul Thompson's Search Fund Manifesto
Andrew Mondi
Thai Lee
Jim Sharpe's blog
Trish Higgins of Chenmark
Andrew Saltoun
Search Fund Accelerator (SFA)
Broadtree Partners
Irv Grousbeck, developer of the traditional search model
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Lessons from 14 Years in Search
9 december 2021 · 39 min
Having searched, acquired, and exited a business himself starting back in 2007, today Mark Sinatra invests in searchers. Lees meer
Themes from Mark's interview:
Running a traditional search fund
How search has changed over the last 15 years
The challenge of staying optimistic during a traditional search
The capacity of small and mid-sized companies to absorb change
Client management during a recession
Dealing with clients’ attachment to familiar processes
What a search investor looks for in searchers
Importance of bringing a deal to investors sooner than later
Reach Mark at:
mark [at] etaequity dot com
LinkedIn
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What to Acquire: 3 Hot Sectors for Business Buyers
6 december 2021 · 31 min
Casey Clark talks hot industries, identifying growth potential in a business for sale, and avoiding common SMB pitfalls. Lees meer
Themes from Casey's interview:
Choosing the right industry for you
3 hot industries for acquisition
Acquisition opportunity checklist
How to convince a seller to let you speak with management
The “propeller” methodology
3 common traps for small business owners
Reach Casey at:
LinkedIn
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Buying the Family Business & Growing 4x During COVID
30 november 2021 · 53 min
Resisting at first, Mark Litton eventually realized that buying the family biz was the perfect path to entrepreneurship. Lees meer
Themes from Mark's interview:
Buying a business from a family member
Redefining “real” entrepreneurship
Structuring a deal with 100% financing
Understanding the business’s numbers before you buy
Getting through struggles in your first year
Recession-proofing your business
Free resources for aspiring acquisition entrepreneurs
Reach Mark at:
mark at howard medical dot com
Howard Medical Company
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How to Hire an Attorney for Your Acquisition
23 november 2021 · 36 min
Learn how to find a lawyer for your deal, how much you'll spend, what to look for, and how to avoid suing the seller. Lees meer
Themes from the interview with @SMB_Attorney:
Absolutely necessary: a good lawyer
What to look for
References? Reviews? Hmm, difficult
What you'll pay
Don’t be afraid to negotiate price
Do they need to be in the same location as your deal?
You don’t want to sue
Indemnification: Get familiar with it
Official episode page & full show notes at AcquiringMinds.co:
How to Hire an Attorney for Your Acquisition
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Buying a Therapy Practice & Selling for Millions
22 november 2021 · 55 min
A husband & wife bought a therapy practice for $120k, almost dumped it, then grew it for 8 years when PE came knocking. Lees meer
Themes from Neil's interview:
Growing a mental health practice from $615k/year to $2M.
How working in your acquired business (not on it) can save you
Owning a business with your spouse
Equipment leasing as a solution to keeping overhead costs low
To sue or not to sue (the seller, post-acquisition)
Preferring businesses for sale rather than cold outreach to owners
When to sell a fast-growing business
Reach Neil at:
@neilsaidwhat
Official episode page & full show notes at AcquiringMinds.co:
Buying a Therapy Practice & Selling for Millions
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The Argument for Self-Funded Search
15 november 2021 · 1 uur 6 min
Jordan Carter & Robert Graham argue for self-funded search over traditional search funds or the "buy small" approach. Lees meer
Themes from the interview with Jordan & Robert:
Self-Funded Over Traditional
Buy Bigger
Turning $200k into $4M+
How Much Money You'll Need
Be Prepared to Move
No Deal Experience? No Problem
What Makes a Good Searcher
Reach Jordan & Robert on LinkedIn:
Jordan Carter
Robert Graham
Official episode page & full show notes at AcquiringMinds.co:
The Argument for Self-Funded Search
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How to Buy a Salon as an Industry Outsider (and Survive)
8 november 2021 · 52 min
Sarah Romer bought a large but tired hair salon in Austin for $80k. Her first year as owner was the hardest of her life. Lees meer
Themes from Sarah's interview:
The formula for estimating the value of a salon or beauty business
What to do when sellers overestimate the worth of their company
Where to cut costs after you’ve made an acquisition
Underestimating the importance of company culture
The stress of owning and managing a retail business
The process of exiting a business you’ve acquired
Reach Sarah at:
Sarah dot Romer at gmail dot com
Official episode page & full show notes at AcquiringMinds.co:
How to Buy a Salon as an Industry Outsider (and Survive)
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Starter Acquisition: Buying a $25k Business
4 november 2021 · 36 min
Neil Granberry bought a bubble ball business to prove himself as an entrepreneur while pursuing an MBA at the same time. Lees meer
Themes from Neil’s interview:
The advantages of a small starter business as a first acquisition
Looking past media hype that paints billionaire startup founders as the only entrepreneurs
The value of a customer list
The beauty of acquiring a small business that is already profitable
Taking a hard look at a company’s books to negotiate a better sale price
Delegating operations to trusted employees to better position yourself for a sale later on
Reach Neil at:
@NeilGranberry
Nashville Bubble Ball
Official episode page & full show notes at AcquiringMinds.co:
Starter Acquisition: Buying a $25k Business
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Stay Open to the Many Flavors of Search
1 november 2021 · 57 min
Thanks to changing his search from traditional to self-funded, Chris Williams bought a $1m EBITDA bookkeeping business. Lees meer
Themes from Chris's interview:
Traditional versus alternative search fund models
The advantages of self-funded search (if you can afford it)
The appeal of bookkeeping businesses
How to stand out to potential sellers who have heard it all before
The first six months after acquisition
Reach Chris at:
Chris [at] systemsix [dot] com
System Six
Official episode page & full show notes at AcquiringMinds.co:
Stay Open to the Many Flavors of Search
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From Search Misery to Successful CEO
28 oktober 2021 · 48 min
Steve Divitkos shares tips from his acquisition, from the solitude of search to the delicate balance of being a new CEO. Lees meer
Themes from Steve's interview:
The full lifecycle of a traditional search
The biggest myth about entrepreneurship
Surviving the search process
Why he bought Microdea
Managing relationships with the sellers (the price of peace)
What to do in your first two weeks as CEO
Why you should diagnose before you prescribe
Reach Steve at:
His blog & podcast In the Trenches
Official episode page & full show notes at AcquiringMinds.co:
From Search Misery to Successful CEO
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Buying a 45 Year Old Software Business
25 oktober 2021 · 47 min
A podcast exposed Jason Budd to buying businesses. After 10 years in corporate, he'd found his path to entrepreneurship. Lees meer
Themes from Jason's interview:
How Jason found the right business with the help of a mentor and a podcast
Due diligence when it comes to finances and staff
Keeping your options open in case a sale falls through
Technical understanding of your acquired business
What the history of an established business can tell you
Getting to know the stories of the people who will work for you
Being the project manager of your own deal
Reach Jason at:
Metasystems
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
Buying a 45 Year Old Software Business
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How to Buy Landscaping Businesses
21 oktober 2021 · 47 min
Closing on his 2nd acquisition in 10 months, Mike Botkin just became Central Florida's largest landscaping business. Lees meer
Themes from Mike's interview:
Acquiring a second landscaping business
Dropping customers to grow
Developing a playbook for operating a landscaping business
Treating your employees right
Downsides of SBA loans and traditional search funds
The invaluable resource of keeping the previous owner in the biz
Viewing landscaping from a logistics perspective
Why landscaping businesses are great acquisitions
Reach Mike at:
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
How to Buy Landscaping Businesses
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Anatomy of a Search: 40 Interns, 25 Months, 20 Offers
17 oktober 2021 · 51 min
Jessica Markowitz used a traditional search fund to search for & ultimately buy a great business. But the road was long. Lees meer
Themes from Jessica's interview:
Acquiring a business through a traditional search fund
Leveraging an army of interns to power the search
Search fund partnership with a close friend
Maintaining a good relationship with a business owner even after they decline you
Running a legal services company without a law degree
Reach Jessica at:
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
Anatomy of a Search: 40 Interns, 25 Months, 20 Offers
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How to Choose Your Lender When Buying a Business
14 oktober 2021 · 47 min
There are many lenders out there eager to finance your acquisition. SBA loan expert Lisa Forrest explains how to choose. Lees meer
Themes from Lisa's interview:
Working with lenders to secure an SBA loan
Choosing the right lender for you
How to prepare for your SBA loan conversation
Getting an SBA loan for SaaS and eCommerce businesses
How business owners can plan ahead for a cash crunch
Why now is a great time for buyers
Reach Lisa at:
lisa [dot] forrest [at] liveoak [dot] bank
Live Oak Bank
Official episode page & full show notes at AcquiringMinds.co:
How to Choose Your Lender When Buying a Business
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The Poetry of Buying a Blue Collar Business
11 oktober 2021 · 58 min
Shannon Jones explains how acquisition entrepreneurs should navigate the realities of buying a blue collar business. Lees meer
Themes from Shannon's interview:
Killing relations with a blue collar seller by being too "quant"
Importance of vulnerability when negotiating
How to know if a blue collar business is in an industry that’s right for you
Managing blue collar employees and common pitfalls
Transitioning as a new owner of a blue collar business
When is the right time to make changes as a new owner?
Reach Shannon at:
s jones [at] halstatt
LinkedIn
Halstatt Legacy Partners
Official episode page & full show notes at AcquiringMinds.co:
The Poetry of Buying a Blue Collar Business
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What You Don’t Understand About Buying a Small Business
7 oktober 2021 · 46 min
Due diligence expert Elliott Holland shares the top things he wishes he’d known when he first started buying businesses. Lees meer
Themes from Elliott's interview:
Started the due diligence firm he wished he’d had himself
For LOIs, don’t let perfect be the enemy of the good
Early information on an acquisition is +/- 40% correct (and that might be OK)
The information you get post-LOI is what matters
Don’t be surprised if the seller doesn’t trust you right away
Reach Elliott at:
LinkedIn
Guardian Due Diligence
Official episode page & full show notes at AcquiringMinds.co:
What You Don’t Understand About Buying a Small Business
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6 Ways Buying a Business Has Changed Since 2016
4 oktober 2021 · 27 min
Nick Haschka shares what's changed in the market since acquiring his first small business in 2016. (Hint: it’s harder.) Lees meer
Themes from Nick's interview:
The rise and fall of the “silver tsunami”
Private equity’s pivot from hands-off to getting dirty
MBAs jump into the acquisition arena
The labors of labor shortages
Why B2C is beating B2B
Saying yes to no-code
Reach Nick at:
LinkedIn
Cub Investments
The Wright Gardner
Official episode page & full show notes at AcquiringMinds.co:
6 Ways Buying a Business Has Changed Since 2016
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How to Buy a Medical Billing Business
28 september 2021 · 46 min
Less than a year after acquiring a $1m medical billing business, Curt Neider is already looking for his second deal. Lees meer
Themes from Curt's interview:
Buying a medical billing company doing ~$1 million/year
The appeal of medical billing businesses
Becoming a certified professional biller to understand the business
How Curt immediately improved operations
Separate line of credit for working capital (not rolled into SBA loan)
Acquiring with a partner
"Altruistic kicker" of buying a business that helps people
Second acquisition less than a year after the first
Reach Curt at:
LinkedIn
Illuminate Billing Advocates
Official episode page & full show notes at AcquiringMinds.co:
How to Buy a Medical Billing Business
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Investing Like an 1880s Businessman
24 september 2021 · 50 min
Key lessons for acquisition entrepreneurs from Andrew Finn, who has grown a service business & acquired SaaS businesses. Lees meer
Themes from Andrew's interview:
Opportunity in sub $1m EBITDA businesses
SaaS vs. services business
Grooming an operator to extract yourself from the business
What makes a good SaaS acquisition
Your acquisition journey — just start
Jumping from labor to capital
Capital Camp
Reach Andrew at:
andrew at g64 ventures dot com
G64 Ventures
Official episode page & full show notes at AcquiringMinds.co:
Investing Like an 1880s Businessman
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Using Investors to Buy a Business with SBA
21 september 2021 · 53 min
Don't have the 10-20% cash to buy a business with SBA? Search investor Steve Ressler explains how to attract investors & structure the deal. Lees meer
Themes from Steve's interview:
The 4 flavors of search
Choosing the right investors
SBA loan math
Raising the 10%
Buying a business in an industry you don't know
Setting investor expectations
Common mistakes to avoid
Reach Steve at:
sressler @ gmail
@steveressler
LinkedIn
His newsletter, ETA Musings
Official episode page & full show notes at AcquiringMinds.co:
Using Investors to Buy a Business with SBA
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Growing a Flippa Business to $2 Million
14 september 2021 · 52 min
Sales had dropped to zero when Martin Bispels acquired Upper Park Disc Golf. A year later, they are nearing $2 million. Lees meer
Themes from Martin's interview:
Buying a business on Flippa
What Martin asks himself every day to be a good CEO
Criteria used to identify a business to buy
Hiring the seller of the business
True cost of buying a business
Making a detailed plan before acquiring the business
Building a team before acquiring the business
Reach Martin at:
martin at upper park disc golf
Upper Park Disc Golf
Official episode page & full show notes at AcquiringMinds.co:
Growing a Flippa Business to $2 Million
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How to Build a Portfolio of Micro SaaS Businesses
9 september 2021 · 1 uur 12 min
Hard-won lessons about buying micro SaaS businesses from Andrew Pierno, who has acquired 3 and plans to buy many more. Lees meer
Themes from Andrew's interview:
Breakdown of the XO Capital portfolio
How to source micro SaaS acquisitions
Micro SaaS due diligence
Paying for operators
The appealing product roadmap of tiny software vs. large
Bottlenecks of the tiny model
Whether moving upmarket make sense
Wins so far
MicroAcquire & Flippa
Reach Andrew at:
@AndrewPierno
His blog at XO Capital
Official episode page & full show notes at AcquiringMinds.co:
How to Build a Portfolio of Micro SaaS Businesses
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Making a Career of Buying Businesses
6 september 2021 · 59 min
Pete Seligman stepped off a comfortable corporate path to buy a small business in 2013. He's since acquired 4 more. Lees meer
Themes from Pete's interview:
Why Pete exited the corporate track to acquire a company
How risky is acquiring a business?
Role of passion when deciding which business to buy
Role of industry experience when deciding which business to buy
How long it takes to succeed in acquisition entrepreneurship
The type of person who should buy a company
Reach Pete at:
LinkedIn
His website
Official episode page & full show notes at AcquiringMinds.co:
Making a Career of Buying Businesses
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Buying a $1m Coffee Biz After Years of Starting from Scratch
2 september 2021 · 46 min
After years of struggling to launch products from scratch, Casey Allen pivoted to buy a $1.7m coffee supplies business. Lees meer
Themes from Casey's interview:
Struggling for years to launch products from scratch
The benefits of acquiring a company instead
Buying an e-commerce business as COVID sales take off
Buying a 24-year-old content site with 12 million annual visitors
Content vs. e-commerce
Advice for acquirers who have $10k, $50k, or $250k in cash to buy a business
Reach Casey at:
LinkedIn
His first acquisition, Barista Warrior
His second acquisition, Interactive Mathematics
Official episode page & full show notes at AcquiringMinds.co:
Buying a $1m Coffee Biz After Years of Starting from Scratch
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Top 3 Pitfalls When Buying an Online Business
30 augustus 2021 · 46 min
Due diligence pro Ahmed Raza on the 3 key things to evaluate when buying a business in e-commerce, SaaS, or content. Lees meer
Themes from Ahmed's interview:
3 things to evaluate in an e-commerce business you might buy
3 things to evaluate in a SaaS business you might buy
3 things to evaluate in a content/affiliate business you might buy
Reach Ahmed at:
LinkedIn
His firm, Rapid Diligence
Official episode page & full show notes at AcquiringMinds.co:
Top 3 Pitfalls When Buying an Online Business
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Why Plumbing Companies Make Awesome Acquisitions
26 augustus 2021 · 58 min
Charles Barr just acquired DiMartino Plumbing. He considered HVAC & electrical as well but plumbing was the sweet spot. Lees meer
Themes from Charles’ interview:
Buying a small business as a path to wealth
Why plumbing?
Why he decided against HVAC & electrical
Numbers on the business & his deal
Why he’s getting his plumbing license
Reach Charles at:
LinkedIn
His acquisition, DiMartino Plumbing
@CapitalistChuck
Official episode page & full show notes at AcquiringMinds.co:
Why Plumbing Companies Make Awesome Acquisitions
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Buying an Online Side Hustle (for Less than $5k)
23 augustus 2021 · 38 min
Vivian Chen bought an abandoned online business for almost nothing, then grew it to $5k/mo — while keeping her day job. Lees meer
Themes from Vivian’s episode:
Years of false starts before deciding to acquire
Advice to side hustlers
Parallels between buying an online business & real estate investing
When to go full time
Knowing yourself is key to your journey as an acquisition entrepreneur
It takes longer than you expect...
…so get started
Reach Vivian at:
LinkedIn
Modern Innkeeper
Official episode page & full show notes at AcquiringMinds.co:
Buying an Online Side Hustle (for Less than $5k)
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How to Survive Acquiring a $3.5m Flooring Business
19 augustus 2021 · 50 min
Chris Edwards' first 6 months as new owner has been a “bloody knife fight.” But things are looking up, with the business projected to profit $750k this year. Lees meer
Themes from Chris’s interview:
Chris’s advice for new owners (be a shock absorber)
What made Chris a competitive buyer
Solo buyer vs. having a partner
How to implement changes as a new owner (hint: slowly)
High stress, high stress, high stress…less stress
“The worst decision he’d ever made”?
Reach Chris at:
@toph_edwards
His flooring company, Affordable Flooring Warehouse
Official episode page & full show notes at AcquiringMinds.co:
How to Survive Acquiring a $3.5m Flooring Business
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Acquiring an $8m Distressed E-Commerce Biz
16 augustus 2021 · 44 min
Brute Force thrived during COVID, but 2021 hit hard. Sales plunged 60% in one month. Mike Brown bought it to fix it. Lees meer
Themes from Mike’s interview:
Why Mike was "acquisition curious" and what made him pull the trigger
Betting on yourself
Unsexy local businesses vs. e-commerce
How the iOS privacy updates are affecting e-commerce
How Mike handled sales collapsing 60% from May to June
Adversity making you -- or your business -- stronger (h/t Jocko Willink)
Reach Mike at:
LinkedIn
His e-commerce company, Brute Force
Official episode page & full show notes at AcquiringMinds.co:
Acquiring an $8m Distressed E-Commerce Biz
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Buying a $1.2m Fencing Business & Earning Trust Quickly
12 augustus 2021 · 48 min
Cassi Niekamp didn't know anything about fencing when she acquired Bowden Fence. But she turned this to her advantage. Lees meer
Themes from Cassi’s interview:
Bringing a student’s mind to your acquisition
Using vulnerability to earn trust
Doubling production in 60 days
Building rapport with the seller
Buying the first business you see
Reach Cassi at:
LinkedIn
Her company, Bowden Fence
Official episode page & full show notes at AcquiringMinds.co:
Buying a $1.2m Fencing Business & Earning Trust Quickly
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Making $100k/mo by Buying Websites
10 augustus 2021 · 44 min
Mike Gardon bought websites to be his own boss. His best acquisition does $100k/mo — and he bought it for 5 figures. Lees meer
Themes from Mike’s interview:
Why buying a website is better than building from scratch
SEO & affiliate websites
Opportunity for smaller buyers of affiliate sites
Thinking about your websites like a financial portfolio
The importance of a foundation business
Reach Mike at:
LinkedIn
His personal website, michaelgardon.com
CareerCloud
Bonus: Quotebook, a project of Mike's he can pursue thanks to the freedom provided by his business
Official episode page & full show notes at AcquiringMinds.co:
Making $100k/mo by Buying Websites
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Buy an E-Commerce Business: Tips from an Aggregator
5 augustus 2021 · 44 min
5 tactics to boost sales of acquired e-commerce businesses — and other insights from e-commerce aggregator TCM Digital. Lees meer
Key themes from Golan's interview:
There is still plenty of room for solopreneurs to made good e-commerce acquisitions.
Prices of e-commerce businesses have gone up, but still good value there.
5 tactics TCM uses to quickly boost sales of the e-commerce businesses they acquire.
TCM Digital is an e-commerce aggregator based in Tel Aviv that has acquired 28 e-commerce businesses to date.
Reach Golan Manor at:
LinkedIn
TCM Digital
Hammock Sky and Lens Ball are two of the TCM brands mentioned in the interview.
Official episode page & full show notes at AcquiringMinds.co:
Buy an E-Commerce Business: Tips from an Aggregator
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€5m a Year by Acquiring Translation Agencies
3 augustus 2021 · 47 min
How an outsider started with little money and bought 12 translation agencies in 6 years, aiming to reach €5m in revenue. Lees meer
Key themes from Cédric's interview:
Acquired a translation agency in 2015 that was doing about €1.5m annually.
He had little of his own money at that time and took a large loan to make the acquisition happen.
6 years later, he's acquired 11 more agencies and is aiming to reach €5m in annual revenue by the end of 2021.
Reach Cédric Sigoire at:
LinkedIn
His translation agency, DEMAN Translations
Official episode page & full show notes at AcquiringMinds.co:
€5m a Year by Acquiring Translation Agencies
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How to Build an E-Commerce Acquisition Company
29 juli 2021 · 37 min
With 6 e-commerce acquisitions and counting, Kelcey Lehrich has built 365 Holdings rapidly over the last 4 years. Lees meer
Key themes from Kelcey's interview:
E-commerce as a path for acquisition entrepreneurs
Other businesses Kelcey likes for acquisition entrepreneurs
Business-buyer fit
Personal guarantees
Reach Kelcey Lehrich at:
@kelceylehrich
LinkedIn
His e-commerce holding company, 365 Holdings
The 365 EIR Program (+ great article on entrepreneurship through acquisition)
Official episode page & full show notes at AcquiringMinds.co:
How to Build an E-Commerce Acquisition Company
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Acquiring a $280k SaaS on MicroAcquire
27 juli 2021 · 36 min
An early buyer on MicroAcquire, Spencer Scott acquired a SaaS for $280k. He analyzed the deal like a rental property. Lees meer
Key points from Spencer's story:
He wasn't looking seriously for an acquisition but saw an opportunity and grabbed it: Median.
The tech is what impressed him most. He couldn't believe the product was a small indy SaaS built by a couple developers.
Median was selling for about 4x revenue, which was $75k ARR.
Spencer learned the hard way to include teeth in an acquisition letter of intent.
Reach Spencer Scott at:
@AKASpencerScott
Spencer's SaaS acquisition, Median.
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
Acquiring a $280k SaaS on MicroAcquire
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Buy a Septic Business & Make $3m ARR
22 juli 2021 · 40 min
Dan Spracklin acquired a septic pumping business doing $1M annually, then grew it to $3M and margins to 30% in 2 years. Lees meer
Key points from Dan's story:
Gray Brothers was a septic pumping business founded in 1929, run by Dan Spracklin's father-in-law.
It was generating about $1m per year in revenues from 22,000 customers. Septic pumping companies typically have margins of 10-15%.
Dan & his wife added adjacent septic services to Gray Brothers and improved operations. Within 2 years, they'd pushed revenues to $3m and margins to 30-35%.
Septic pumping is a great lifestyle business for existing owners: low customer churn, high barriers to entry, recession proof.
It's difficult for entrepreneurs to start a new pumping businesses, so best to buy out a retiring owner if you can find one.
Reach Dan Spracklin at:
@DanSpracklin
Gray Brothers, his septic company
SoMax Circular Solutions, the sewage conversion offshoot
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
Buy a Septic Business & Make $3m ARR
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Pivoting to Swag in 7 Acquisitions Over 8 Years
20 juli 2021 · 37 min
Two brothers took over a 110-year-old business in a stagnating industry. 7 acquisitions later, the future is bright. Lees meer
Key points from Ben's story:
Ben Grossman & his brother pivoted their 110-year-old family business from printing to promotional products.
The strategy was executed by acquisition: 7 of them from 2013 through 2021.
Ben discusses the importance of treating sellers well to build a list of happy sellers that he can show future sellers as a reference.
He explains how he uses suppliers to source leads on potential acquisitions.
He also explains how to effectively work with business brokers.
Reach Ben Grossman at:
Follow Ben on Twitter at @bigrossman.
He also maintains a personal website that lists all of Grossman Marketing Group's acquisitions at bengrossman.info.
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
Pivoting to Swag in 7 Acquisitions
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5 Lessons from Acquiring a $2m Portfolio of Websites
15 juli 2021 · 43 min
How an online entrepreneur teamed with a family office to acquire & grow a portfolio of 15 websites for over $2 million. Lees meer
Key points from Paul's story:
Paul Lemley teamed with a family office to source, acquire, and grow a portfolio of websites.
They ultimately acquired 15 sites across 3 acquisitions, spending between $2 and $3 million in total.
Paul highlights 5 lessons from this recent foray into the website deal world.
Reach Paul Lemley at:
@palemley
The flagship of his acquisition, RunnerClick.com
LinkedIn
Official episode page & full show notes at AcquiringMinds.co:
5 Lessons from Acquiring a $2m Portfolio of Websites
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How to Buy a Ski Resort (at Age 22)
13 juli 2021 · 35 min
Rick Schmitz was an inexperienced 22-year-old with no money when he acquired a run-down ski resort and turned it around. Lees meer
Key points from Rick's story:
Rick Schmitz was a 22-year-old graduating senior uninterested in pursuing a career in finance.
He saw a small ski resort for sale in his native Wisconsin. It had been on the market (and losing money) for 5 years.
Negotiated the original list price down from $1m to $625k.
Most banks rejected him outright for a loan, but gradually he cobbled together the purchase price.
17 years later, Rick has acquired and operates 2 other resorts in the upper Midwest.
Reach Rick Schmitz at:
LinkedIn
His first acquisition, Nordic Mountain
Official episode page & full show notes at AcquiringMinds.co:
How to Buy a Ski Resort at Age 22
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How to Buy a Landscaping Business & Boost Profits Quickly
8 juli 2021 · 42 min
In just 9 months, Mike Botkin decided to acquire a business, negotiated a great deal, and dramatically improved profits. Lees meer
Key points from Mike's story:
B & B Landscaping was generating around $800k in annual revenues.
Acquired it for 2x of SDE.
Paid 50% cash up front, then the remaining 50% was seller financed with a 4-year loan at zero interest.
Turns out a third of customer accounts are unprofitable, costing the business money & weighing down margins terribly. Money-losing customers are let go, and prices raised for many others.
In 9 months, acquisition entrepreneur Mike Botkin has the idea to buy a small business, negotiates a great deal, learns the business, and boosts profits dramatically.
Reach Mike Botkin at:
@MikeBotkin_
LinkedIn
His acquisition, B & B Landscaping
Official episode page & full show notes at AcquiringMinds.co:
How to Buy a Landscaping Biz & Boost Profits Quick
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How One Small Acquisition Led to 9 More in 5 Years
7 juli 2021 · 41 min
Nick Haschka left a Silicon Valley career and bought an office plant service in 2017, then acquired 9 more through 2021. Lees meer
Key points from Nick's story:
The Wright Gardner was doing $1-2m in annual revenue, with margins in the 20% range.
Acquired the business in 2017 for ~3x of SDE.
Used SBA for 65-70% of the purchase price, 15% seller financing, and cash for the rest.
Four months after acquisition, SBA banker came to them with another indoor plant services business looking to sell. Acquired that business, plus 8 others since then.
Acquired businesses average a couple hundred thousand dollars in annual revenue, though some as small as $100k. All asset purchases.
Reach Nick Haschka at:
@nickhaschka
LinkedIn
His first acquisition, The Wright Gardner
His community for entrepreneurially-minded SMB operators at https://operators.mn.co/.
Official episode page & full show notes at AcquiringMinds.co:
How One Small Acquisition Led to 9 More in 5 Years
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How to Acquire Your First Business in 3 Months
27 mei 2021 · 55 min
How first-time acquirer Philippe Vanderhoydonck found a 30-year-old trade media business & bought it in under 3 months. Lees meer
Reach Philippe Vanderhoydonck at:
LinkedIn
His acquisition, PETS International
Key points from Philippe's acquisition:
PETS International is a 30-year-old trade publication that publishes 6 magazines and hosts 2 conferences per year
Generates 20-35% margins on low-seven-figure revenues
Opportunity is to expand online presence and product offering
Acquired for low seven figures, a 3x multiple of annual earnings
Acquisition went very quickly, only about 10 weeks
Official episode page & full show notes at AcquiringMinds.co:
How to Acquire Your First Business in 3 Months