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The Power of Conviction in Buying a Business
4 december 2023 · 1 uur 24 min
Matt Barnes bought a $400k SDE linen laundry business, channeling his conviction at big decision points along the way. Lees meer
Topics in Matt’s interview:
Doing a narrow geographic search
Pros and cons of door-to-door proprietary outreach to sellers
Importance of having his wife on board
Getting emotionally invested in deals
His values-based reason for acquiring a business
The business sustaining fire damage before purchase
Buying a commercial laundry business
Niches within the laundry industry
Realities of being an owner-operator
How hard work builds character
References and how to contact Matt:
LinkedIn
Professional Touch Laundry Service
Zen and the Art of Motorcycle Maintenance
How to Shorten Your Search to Buy a Business | Sam Rosati Interview
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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3 Perspectives: A Panel on Buying Small Businesses
30 november 2023 · 1 uur 40 min
Recording of a live panel hosted by EO Silicon Valley with Acquiring Minds host Will Smith moderating. Lees meer
Topics discussed:
3 stories of buying businesses
What the search, due diligence, transition was like for each of the 3 entrepreneurs
Silicon Valley-style entrepreneurship vs. entrepreneurship through acquisition (ETA)
The napkin math of a business acquisition with an SBA loan
Moving from white collar to blue collar environments
Is there a "type" who buys a business?
Graduating from buying your 1st business to your 2nd, 3rd, and beyond
How buying a first business can quickly lead to more acquisition opportunities
Inorganic growth vs. organic growth
What being an investor in search deals looks like
Scariest moment from each entrepreneur's journey
Question: How do you think about due diligence?
Question: Does the softness in the macro M&A market affect activity in search?
Question: Thoughts on roll-ups.
References and how to contact George, Corey, or Nick:
LinkedIn for the panelists: George Goates, Corey Veverka, Nick Haschka
George Goates’ previous interview on Acquiring Minds: The Joys & Pain of Owning a $10m City Bus Business
Corey Veverka’s previous interview on Acquiring Minds: How to Buy the Business Where You Work
Nick Haschka’s previous 2 interviews on Acquiring Minds:
How One Small Acquisition Led to 9 More in 5 Years
6 Ways Buying a Business Has Changed Since 2016
EO Silicon Valley
Club Sportiva in San Jose, site of the panel
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Escaping Golden Handcuffs by Buying a Business
27 november 2023 · 1 uur 36 min
While not a CPA herself, a clear list of buying criteria led Gretchen Roberts to acquire a 16-person accounting firm. Lees meer
Topics in Gretchen’s interview:
Overcoming mental blocks about leaving a good job
Using her marketing skills for proprietary search
Acquiring an accounting firm without accounting experience
Building rapport and trust with the team
Changing the business’s name
Being comfortable managing a remote team
Balancing business ownership and family
Her plan to recruit accountants through part-time roles
What makes her accounting firm stand out
Buying based on revenue instead of SDE
References and how to contact Gretchen:
LinkedIn
Red Bike Advisors
Robert Kiyosaki's Cashflow Quadrant
The Epic Challenge by Roland Frazier
Chris Williams on Acquiring Minds: System Six: One Year Update | Chris Williams Interview
Patrick Dichter on Acquiring Minds: Shut Out by Industry Brokers, an Entrepreneur Finds a Way
Patrick Dichter on Acquiring Minds: How I Achieved 60% Growth in My Bookkeeping Business |Patrick Dichter
Connect with A-players who can run your business remotely:
More Staffing
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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7 Takeaways from 200 Episodes
22 november 2023 · 25 min
Acquiring Minds host Will Smith reflects on 200 episodes, tells the podcast backstory, and teases what's coming in 2024. Lees meer
Topics in today’s episode with Will:
Essential lessons from 200 interviews with acquisition entrepreneurs
How Acquiring Minds got started
Is Will going to search for a business to buy?
Plans for Acquiring Minds in 2024
References and how to contact Will:
Episode 183 with Brandon Adams: Hiring a General Manager & Buying Business #2
Connect with Will on LinkedIn
Follow Will on Twitter
Connect with A-players who can run your business remotely:
More Staffing
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
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Cash Flows Over Exits: Buying for the Long Term
20 november 2023 · 1 uur 33 min
Sensing untapped potential, Mark Olivito paid cash for a project-based construction business with less than $100k SDE. Lees meer
Topics in Mark’s interview:
Buying a business that checked all the wrong boxes
Why he “overpaid” to acquire PAVERART
What attracted him to the business
His passion for building a successful blue-collar business
Glamorization of entrepreneurship
The importance of showing up and “eating last”
The trades as a lucrative alternative to college
Mental health challenges in small business ownership
Building resiliency before trying to grow
His advice for those interested in buying a business
References and how to contact Mark:
LinkedIn
Twitter
PAVERART
molivito@paverart.com
Hustle or Bust
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Skip the SBA: Buying a $4m Biz with a Conventional Loan
16 november 2023 · 1 uur 16 min
Ben Bryer worked with a financial backer to find & buy a 65-year-old niche manufacturing business without an SBA loan. Lees meer
Topics in Ben’s interview:
Spending $150K and 18 months on dead deal
The emotional toll of a failed deal
Freelancing to partially fund his search
Buying a pin gage manufacturer
What attracted Ben to the business
Choosing a conventional loan over SBA loan
Building relationships with lending partners
Tech debt as a liability
The benefits of having long-term employees
Importance of time allocation
References and how to contact Ben:
bbryer@highspireholdings.com
LinkedIn
Twitter
Meyer Gage
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Doing It His Way: First-Timer Buys 2 at Once
13 november 2023 · 1 uur 35 min
Mike Okhravi left a cushy tech career to buy a towing business & a flooring business — and within 30 days of each other. Lees meer
Topics in Mike’s interview:
Why he passed on the Search Fund Accelerator
His philosophy on taking more risk by moving fast
Signs of a motivated seller
Buying a 4-person garage flooring business
Surprises after acquiring the business
Why profit dips post-acquisition
Discarding the “searcher rules”
What he loves about the towing business
Operating 2 businesses at once (including one 3 hours away)
Getting back up after business failures
References and how to contact Mike:
Twitter
LinkedIn
mikeokhravi@gmail.com
Codie Sanchez
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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The Upside & Downside of Search, from a 20-Year Veteran
9 november 2023 · 51 min
A fireside chat with veteran searcher & investor Kent Weaver recorded at the Self-Funded Search Conference in Dallas. Lees meer
Topics in Kent's interview:
Kent's history: his search & how he evolved into an investor in searchers
How the first 2 or 3 years post-acquisition are different in a self-funded search vs. a traditional search fund
How traditional search feels different today vs. its early days
What is a "3am business"?
The power of choosing a quality industry to buy a business in
The power of high quality revenue
The power of strong unit economics
The power of you as CEO
Ingredients of a good search CEO
How to handle it if the business you buy fails?
2 stories of search failures
Staying too long in a bad business
When buying a business, dream bigger. No artificial ceiling.
Thinking beyond your first deal: what doing a search does for your career
References and how to contact Kent:
The event where the fireside occurred: Self-Funded Search Conference (submit this contact form for next year's event)
Iron Mountain
LinkedIn
Kent’s investing vehicle, Granite Point Partners
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Passion, Meet EBITDA: The Joy of Buying an Art Gallery
6 november 2023 · 1 uur 40 min
Sean Moore looked at a handful of businesses, but a fine art gallery with over $1m SDE won the art collector's heart. Lees meer
Topics in Sean’s interview:
Pulling $1M out of his 401k to buy an art gallery
How his gallery brings in $1M in SDE
The ecommerce aspect of the gallery
The additional revenue stream of a frame shop
Opportunities to improve the gallery website
His peer group that supported his search
Choosing a passion business over a “boring” one
Forming a connection with the seller
Using ROBS for acquisitions
Negotiating earnest money with the seller
References and how to contact Sean:
LinkedIn
sean@fascinationst.com
Josh Levell
Fascination St. Fine Art
Jeff Baughman
Guesswork Investing
Connect with A-players who can run your business remotely:
More Staffing
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Growing EBITDA from $750k to $2m: Time to Sell?
2 november 2023 · 1 uur 5 min
John Hubbard returns to share how "chasing EBITDA over revenue" has benefited the trailer fabricator he bought in 2021. Lees meer
Topics in John’s interview:
Losing largest customer (25% of revenue)
Earning $2m EBITDA on $6m revenue vs. $25m revenue
Don't chase revenue, chase EBITDA
Mentally transitioning from buyer of a business to the seller of it
Why he's thinking about selling
Selling vs. hiring an operator & holding
How difficult finding a good operator is
Appreciating how precious it is when you have a business doing well
The appeal of investing in other search deals
3 points about leadership in SMB
References and how to contact John:
Sam Rosati
Express Custom Trailers
John’s first appearance on Acquiring Minds: Why Buy a Small Manufacturing Business
Recent interview with Shane Ehrsam, who bought a trailer dealership business: Hiring a General Manager & Buying Business #2
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Buy a SaaS Business with an SBA Loan
30 oktober 2023 · 1 uur 39 min
It CAN be done. Andrew Swiler acquired a SaaS business with $650k SDE using an SBA loan (and while living in Spain). Lees meer
Topics in Andrew’s interview:
Why he preferred buying a SaaS business to an ecommerce one
Key trait to being a successful acquisition entrepreneur
Downside protection in a SaaS business
The appeal of the Microsoft ecosystem
Deferred revenue (and explaining it to a seller)
Buying a SaaS business as a non-technical person
How a SaaS business is valued
History of Lanteria, the business Andrew bought
Terms of the deal
Strategy of building a portfolio of B2B SaaS businesses
Pros & cons of holding company structure
Pros & cons of fund structure
References and how to contact Andrew:
Tweet about how declining MRR affects SaaS enterprise value
Xavier Helgesen
Acquire.com
@swilera on Twitter
LinkedIn
Lanteria
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Boom, Bust, Boom: Buying a Whiplash Business
26 oktober 2023 · 1 uur 23 min
Chandler Reed reflects on buying a project-based business in 2021, seeing sales soar, then crash, then surge again. Lees meer
Topics in Chandler’s interview:
His unconventional entrance into the search space
Buying a commercial lighting contractor
Incentivizing the sole employee to stay on
The challenges of managing people
The ups and downs of project-based revenue
How interest rates affected his deal flow
Involvement with Sam Rosati’s boot camp
Choosing a business based on desired lifestyle
Pros and cons of subcontracting
His preference for digital over physical businesses
References and how to contact Chandler:
LinkedIn
Twitter
SMBootcamp
Pursuant Capital Bootcamp
SMBash
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Partnering with an Operator to Buy a Business
23 oktober 2023 · 1 uur 39 min
Landon Mance bought a $1.7m tree business alongside a minority partner who's operated the business full-time from Day 1. Lees meer
Topics in Landon’s interview:
Crossing paths with a financial criminal
Buying a tree service business with his friend as operator
Where “follow your passion” falls short
Why the business had high margins at acquisition
Negotiating with the sellers over Zoom
Burning through the capex budget in 90 days
The importance of putting everything in the contract
His operator’s equity stake in the company
Continuing to run his financial planning business
His 5-8 year vision for the company
References and how to contact Landon:
landon@backboneplanning.com
LinkedIn
Backbone Planning Partners
Trent Lee
Nevada Tree Service
Trevor Milton
Ryan Tansom
Elizabeth Holmes
Micro Business Academy
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Survive Going from Hedge Funds to SMB Owner
19 oktober 2023 · 1 uur 15 min
Neil Finneran had worked in hedge funds & as a CFO when the opportunity to buy a pest control business presented itself. Lees meer
Topics in Neil’s interview:
His career pivot from finance to mosquito spraying
Buying a business in mid-life
The value of a supportive spouse
Hiring, firing and incentivizing blue collar employees
Importance of retaining customers in a recurring revenue business
What he likes about being part of a franchise
The view from 6 months of ownership
The advantage of knowing how to do the work himself
Competitors in the pest control space
Deciding how much to spend on marketing
References and how to contact Neil:
LinkedIn
Twitter
Mosquito Joe
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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A Reward for Widening Search to $300k SDE
16 oktober 2023 · 1 uur 24 min
A year into his search Jesse Sunquist realized he needed to lower his SDE floor to find a business to buy in his market. Lees meer
Topics in Jesse’s interview:
Being motivated by achieving job flexibility
Why he initially resisted franchises
Buying 2 Mosquito Joe territories
What he loves about his franchisor
Dealing with customer complaints
Managing tricky situations with employees
Calculating potential earnings in a territory
Change management in a seasonal business
Operational improvements he made
Buying at the $300k SDE level
References and how to contact Jesse:
LinkedIn
Twitter
jesse@mtsophia.capital
Reflections after 1 year of searching full time
Jesse’s first appearance on Acquiring Minds
Buy a Franchise Portfolio: How to Choose the Brand
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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When Buying Small Goes Right (3x Growth)
12 oktober 2023 · 46 min
George Vallone returns to share how he has grown revenue 3x in 2.5 years and laid a foundation for multi-city expansion. Lees meer
Topics in George’s interview:
His incentive program to ensure quality from contractors
How quality gives him pricing power
Sales process for apartment turnover services
How geographic expansion could track his existing client relationships
Headcount & revenue growth at Nuveldy’s
Hiring a VP of operations
The power of being in a growing market
Building custom tech
Expanding to new geographies organically rather than acquiring a business there
How difficult it is to work in property management
References and how to contact George:
george@georgevallone.com
LinkedIn
Nuveldy's Apartment Turnover Services
George’s first appearance on Acquiring Minds: How to Buy a Business Using Tactics from B2B Tech Sales
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Buying a $3m Candle Manufacturer That Had No Books
9 oktober 2023 · 1 uur 43 min
Chad Hildebrant knew the best deals have hair on them. The trick is finding the right hair, turning red flags green. Lees meer
Topics in Chad’s interview:
Buying a business that was not financeable
Getting a 60% seller note
Reconstructing 3 years of financial records
Deal fatigue during negotiations
Burning himself out in the first quarter post-transition
3 explanations for chaos in a business
Comparing management to parenting
The 3 types of candle makers
How he generates new sales
The importance of having friends who are operators
References and how to contact Chad:
LinkedIn
Twitter
A candle co.
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Buy and 3x a Project-Based Business in Just 2 Years
2 oktober 2023 · 1 uur 39 min
In 2021, Johannes Hock bought an artificial turf installer business doing $5m. It's on track to exceed $15m in 2023. Lees meer
Topics in Johannes’s interview:
Comparing opportunities in private equity vs search
Sources of deal flow beyond BizBuySell
Mapping multiples to months for better perspective
Acquiring an artificial turf company
The luxury of finding a business with a GM
How to value and finance a fast-growing business
Tracking data from day one of ownership
How weather affects his cash flow
Unexpected costs of sales commissions
Benefits of having a partner in search
References and how to contact Johannes:
LinkedIn
Twitter
DFW Turf Solutions
Buy Small Sell High
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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How to Buy the Business Where You Work
28 september 2023 · 1 uur 4 min
Corey Veverka acquired the business where he had worked for years, mitigating his risk & removing the need for a search. Lees meer
Topics in Corey’s interview:
Corey bought a business without doing a search
Accepting that buying a $5m business can be "normal"
How Corey felt about buying a business for millions of dollars
Educating the owner about SBA loans
Convincing his wife & partner to do the deal
Learning to think like an owner (increasing his financial goals)
How Corey's risk was mitigated by buying the business where he worked
How much they've grown the business
Takeaways for people who want to buy the business where they work
Why being a business owner is "life amplified"
References and how to contact Corey:
TVS
Entrepreneurs' Organization
LinkedIn
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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The $295m Search Fund Exit
25 september 2023 · 1 uur 31 min
Sandy Paige struggled to raise a search fund as a mid-career executive, then grew EBITDA by 7x and exited for 9 figures. Lees meer
Topics in Sandy’s interview:
Delaying search due to timing
Hurdles he overcame to raise funds
Why he chose traditional search
How he got a good deal on purchase price
Renting space to animal research labs
Importance of hiring the right senior team
Similarities between his company and WeWork
Terrifying risks with the real estate dynamics
Advice for searchers over 40
Selling to competitor Charles River Laboratories
References and how to contact Sandy:
LinkedIn
Explora Biolabs
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Hiring a General Manager & Buying Business #2
21 september 2023 · 1 uur 11 min
Shane Ehrsam & Brandon Adams return to discuss hiring a GM, buying business #2, the rewards of SMB life & managing envy. Lees meer
Topics in Shane’s interview:
Most professionally rewarding year of his life
Gratification of making a positive impact on your employees
Introducing new benefits for employees: 401k, health insurance, bonuses
Growing revenue even after COVID demand recedes
Not a “searcher-friendly” business
Reality of bumpy revenue in retail
Owning a business bought as a stock sale rather than asset sale
Dealing with envy in search
Identifying what is important to you in your journey to buy a business
References and how to contact Shane:
shane@ntxtrailers.com
LinkedIn
North Texas Trailers
Shane’s first appearance on Acquiring Minds: 6 Months to Buy a Business with $1m+ in EBITDA
Topics in Brandon’s interview:
Magic of hiring a GM (when it works)
How to decide when it’s time to hire a GM
Improving the lives of employees
How they’ve improved their hiring for blue-collar roles
When to buy a second business
Professionalizing a business “being run like a South Philly pizza shop”
Get in the arena and doors will open
References and how to contact Brandon:
brandon@k4holdings.com
LinkedIn
Philadelphia Dry Ice & Jim's Ice
Brandon’s first appearance on Acquiring Minds: 6 Months in the Truck: Buying an Ice Delivery Biz
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Leaving a Big Salary in DC for Small Business in Wyoming
18 september 2023 · 1 uur 34 min
Eric Hayes was an accomplished executive in the DC area with 5 kids when he decided to buy a business in Laramie, WY. Lees meer
Topics in Eric’s interview:
Walking away from a C-level career to buy a small business
Difficulty raising equity
How “smiling and dialing” investors paid off
Willingness to take “key man risk”
Negotiating a premium for his operations experience
The business of restoring native ecosystems
Costs to serve customers across the Mountain West
Learning to communicate with his foremen
Uncertainty of project-based business
Life in a small town vs. life in a big city
References and how to contact Eric:
LinkedIn
Rocky Mountain Reclamation
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Seller's View of a Searcher Buying His Business
14 september 2023 · 1 uur 29 min
Peter Wild fielded offers to buy his business for years but sold only after being introduced to the searcher community. Lees meer
Topics in Peter & Carlos’ interview:
The psychology of a seller
Recognizing the business as “searcher friendly”
Finding the right individual to buy the business
History of the organic tree health industry
Why this sale was a “reverse search fund”
Upgrading to Salesforce from a 40-year-old custom database
Upgrading to digital contracts from paper
Why he wouldn’t sell to a strategic
Overcoming skepticism about selling to a “searcher”
The owner’s life as a proxy for whether to buy a business
Listen to Part 1 of this story:
Buying a 45-Year-Old Industry Pioneer
References and how to contact Peter & Carlos:
Peter Wild
Carlos Laconi
Boston Tree Preservation
Don Gourley, the buyer of the business
Searchfunder.com, where Carlos posted the business for sale
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Buying a 45-Year-Old Industry Pioneer
11 september 2023 · 1 uur 24 min
After a successful military career, Don Gourley saw buying a business as the best means to "lead a unit" as a civilian. Lees meer
Topics in Don’s interview:
Having a “plan Z” as a searcher
Importance of being crystal clear about what you want to buy
His rigorous approach to a geographic search
How to recruit & manage 10+ interns
Cultivating brokers
About Boston Tree Preservation
Digital transformation — is it actually that valuable?
How to take over from a founder-visionary
Why buying a business is such a good fit for veterans
Having the seller pay for the Q of E
References and how to contact Don:
don@mountbericocapital.com
LinkedIn
Boston Tree Preservation
Peter Wild, the seller of the business
Carlos Laconi, the GM when the business sold
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
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Buy a Franchise Portfolio: How to Choose a Brand
7 september 2023 · 1 uur 43 min
AJ Wasserstein, Peter Mistretta & Mike Horowitz distill the selection of a franchise brand into 10 essential criteria. Lees meer
Topics in today’s interview with A.J., Michael, and Peter:
Why you should (and should not) buy into a franchise system
Likelihood of becoming a billionaire, centi-millionaire, or deca-millionaire by acquiring franchise businesses
The importance of defining what success looks like to you
“Blind” evaluation of a franchise system
How to evaluate a brand & system
How to evaluate a franchisor
Assessing demographics of existing franchisee base
The importance of store-level economics
Can you even break into the franchise system?
“X factor” and unmasking a brand after your analysis
References and how to contact A.J., Michael, and Peter:
A.J.: adam.wasserstein@yale.edu and all his case notes at Yale
Michael Horowitz
Peter Mistretta
Case note this episode is based on: Ten Essential Questions to Consider When Selecting a Franchise Brand for a Search Fund Journey
Related case note: Exploring Franchisees as a Post-MBA Entrepreneurial Path
Roark Capital
Wisconsin FDD Search
Gregg Flynn of Flynn Restaurant Group
Barry Dubin of KPB Brands, operator of 1,000+ KFC, Taco Bell, and Arby's restaurants.
Acquiring Minds episodes referred to:
How to Build a Portfolio of 20 Franchise Locations (Michael Horowitz)
How a $40k Acquisition Led to a Franchise Empire (James Temple)
How to Roll Up Legacy Franchises (to $36m/yr) (Brian Beers)
Opening Up to Franchises to Buy a Great Business (Doug Johns)
Connect with A-players who can run your business remotely:
More Staffing
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Rocky Transition: How to Survive, Then Thrive
5 september 2023 · 1 uur 31 min
Collapsing sales, unhelpful sellers, and a GM who quit. But 1 year later, Chris Jones is contemplating acquisition #2. Lees meer
Topics in Chris’s interview:
Buying a foundation repair business
Finding discrepancies in QuickBooks
His chaotic transition to CEO
The GM leaving to start a competing company
A dispute over money the seller owed
Burning through cash the first winter
Restructuring roles in the business
Improvements in sales numbers
Possibly acquiring a second business
Optimism about the future of the company
References and how to contact Chris:
LinkedIn
chistopherjones7@gmail.com
Falcone Crawl Space & Structural Repair
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
First-Time Buyer Recipe for Success: Action & Small Steps
31 augustus 2023 · 1 uur 10 min
Connor Pera shares how taking incremental steps led to buying his first business much sooner than expected. Lees meer
Topics in Connor’s interview:
Trade-offs of a part-time search
Importance of taking action
Competition in the web-to-print industry
Pros and cons of an SBA loan
The appeal of managing people
His mistake of not accounting for working capital adjustments
Feeling anxious before closing
Transitioning to ownership and fatherhood at the same time
The importance of knowing oneself
The value of his business school education
References and how to contact Connor:
LinkedIn
Twitter
connor@theprintauthority.com
The Print Authority
Connor’s Twitter thread about his acquisition
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Unlocking Growth in a 40-Year-Old Business
28 augustus 2023 · 1 uur 26 min
Josh Medow brought a mindset to his search that he would reshape whatever business he bought into a high-growth company. Lees meer
Topics in Josh’s interview:
Calling over 1,000 business owners during search
Buying a business with no money down
How EOS transformed his business
His 10-20 year outlook
Comparing his military experience with business leadership
Laser focusing on one target market
Building their own SaaS tool for their customers
His most transformational leadership hire
What matters to him more than money
His plan to IPO
References and how to contact Josh:
LinkedIn
Mercury
Persist IQ
Traction by Gino Wickman
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
From Startup Founder to Buying a Small Business
24 augustus 2023 · 1 uur 23 min
Tim Ericson brings lessons from 13 years as a startup founder to the $4m printer rental company he recently bought. Lees meer
Topics in Tim’s interview:
His experience in a VC-backed startup
Searching for a remote-friendly business
Using his sales skills to find a business
Buying Short-Term Copier
The types of customers they serve
Comfort running a remotely-managed, multi-city business
His vision to double the business
Installing an operations manager
Boring is the new sexy
Investing in other searchers’ deals
References and how to contact Tim:
Setting up Hubspot CRM for an Acquisition Search for Free!
tim@smb.fund
tim@committed.ventures
LinkedIn
Twitter
Short Term Copier
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Buying a Small Business to Build for Decades
21 augustus 2023 · 1 uur 15 min
August Felker did a search fund, then later a self-funded search so he could own & build his business for years to come. Lees meer
Topics in August’s interview:
Buying a business without an MBA
How cold calling led to his first deal
Buying an “elevator asset business”
Early lessons in leadership
What he loved about traditional search
The resiliency of the insurance industry
The normalcy of 3-year earnouts
Self-funding his second deal
His vision for building a brand
The niche of working with searchers
References and how to contact August:
LinkedIn
Twitter
Oberle Risk Strategies
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Holdco Entrepreneurs: A Peek Behind the Curtain
17 augustus 2023 · 41 min
HoldCoConf co-founder Kelcey Lehrich shares key findings from a survey of 100+ holdco operators about their businesses. Lees meer
Topics in Kelcey’s interview:
How HoldCoConf started
Why holdcos are so popular
Arguments against holdcos
The “everything tastes like chicken” layer of business
Surprising survey results
What becomes possible at $50M in revenue
Hiring leadership in holdcos
Debating centralized vs decentralized models
Use of global hiring
Concerns about a recession
References and how to contact Kelcey:
LinkedIn
Twitter
365 Holdings
HoldCoConf
Holdco Survey
12 previous Acquiring Minds interviews with holdco entrepreneurs:
From Determined Searcher to $75m Accidental Holdco
One Year Later: Holdco Grows to $75m in Total Revenue
Building an HVAC Holdco to £60m in Revenue
Fetal Position to Foundry Holdco ($30m & Counting)
Snowball Effect: Getting to $45m in 3 Years
Birth of a Holdco (with 15 Acquisitions to Date)
How to Build a Holdco (4 Acquisitions So Far)
7 Years Later: Leaving Wall Street to Buy Small Businesses
5x in 5 Years: Buying Small to Grow Quickly
How One Tiny Acquisition Grew Into a Holdco
Growing a Small 1st Acquisition into a Holdco Platform
How to Build a Holdco Around Company Culture
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
A Non-Financial Reason to Buy a Business
14 augustus 2023 · 1 uur 18 min
Nick Akers had a vision for supportive, employee-first leadership. Buying a business enables him to realize this vision. Lees meer
Topics in Nick’s interview:
His background as an inventor
How the TV show Succession mirrors real life
Why he chose Swiss search accelerator Novastone
What motivates him more than money
His focus on building a positive company culture
The MSP industry and its appeal for searchers
His plan for bolt-ons in the MSP industry
The importance of cash flow and working capital
His first 2 months as CEO
Why he likes having investors
References and how to contact Nick:
LinkedIn
STL Communications
Novastone Capital Advisors
Everybody Matters: The Extraordinary Power of Caring for Your People Like Family by Bob Chapman and Raj Sisodia
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Postmortem of a Broken Deal
10 augustus 2023 · 54 min
Nick Wheeler reflects on investing countless hours to buy a beautiful business, only to have the seller kill the deal. Lees meer
Topics in Nick’s interview:
Finding a commercial landscaping business
Winning the sellers’ trust
How he interpreted early red flags
Lessons learned about due diligence
Conflict with sellers over working capital
Why the deal fell apart
The financial cost of the broken deal
The emotional cost of the broken deal
How brokers can help (or hurt) your deal
What Nick is most grateful for
References and how to contact Nick:
LinkedIn
nick@sage-succession.com
Hood & Strong
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
How (and Why) to Buy a B2B Services Business
3 augustus 2023 · 1 uur 10 min
Sajama Mitta wanted to make strategic decisions at the head of an organization. Buying her own business was the answer. Lees meer
Topics in Sajama’s interview:
Using her investing background to evaluate businesses
Buying an environmental health and safety consulting company
How the founders made themselves replaceable
How they keep their clients in compliance with regulations
The fragmented nature of the industry and opportunities for growth
How California compares to other states on regulations
The problems she enjoys solving
The importance of team empowerment and employee satisfaction
Shifting the quality of revenue and focusing on recurring projects
The technical knowledge she has gained since buying CDMS
References and how to contact Sajama:
sajama@cdms.com
LinkedIn
Chemical Data Management Systems
Women in Small Business Statistics in the U.S.
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
16 Months to Exit: Cleaning Up in Street Sweeping
31 juli 2023 · 1 uur 40 min
Manny Saxena quickly bought 3 street-sweeping businesses to become the largest player in NorCal. A big PE fund noticed. Lees meer
Topics in Manny’s interview:
The importance of maintaining a strong pipeline during search
Why he chose a street-sweeping business during COVID
The transition into running a blue-collar business and motivating the team
Why he recommends in-person conversations with sellers
Advice for other immigrants in business
The importance of attitude and soft skills in hiring
Managing long-term contracts in an inflationary environment
The decision to sell the business to a private equity firm
The pros and cons of having a union presence
His ongoing roll-up strategy in the solar industry
References and how to contact Manny:
LinkedIn
HBR Case Study: Swept Up in Uncertainty at PowerSweeping
Mars Equity Partners
Connect with A-players who can run your business remotely:
More Staffing
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Why Buy a Digital Service Business
27 juli 2023 · 1 uur 32 min
Karl Hughes recently bought a podcast production agency & explains why "productized service" businesses are attractive. Lees meer
Topics in Karl’s interview:
Starting a super-niche content marketing business
The benefits of productizing a service
Saying no to the wrong revenue
What he learned about using cold outreach to find sellers
Acquiring a podcast production company with his partner
What he likes about digital businesses
His vision to build a holdco
The small changes he made immediately
Why buying small was the right move for him
Cashflow management in digital businesses
References and how to contact Karl:
Twitter
LinkedIn
Karl’s article Buying a Business: Acquiring the Podcast Consultant
The First 90 Days by Michael D. Watkins
Draft.dev
The Podcast Consultant
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Building an ATM Empire
24 juli 2023 · 1 uur 17 min
Mitchell Sorkin started by buying 3 ATMs in 2021. Today he has over 140 machines and is targeting $5m EBITDA in 3 years. Lees meer
Topics in Mitchell’s interview:
The difference between arbitrage and building a business
Mitchell's journey to acquiring 140 ATM machines
How to evaluate an ATM route
Revenue and margins in the ATM business
Challenges with SBA financing
His most controversial Twitter thread
Future plans to raise a fund
3 ways to profit in the ATM business
Dealing with theft
How people underestimate ATMs
References and how to contact Mitchell:
Stack Influence
ATM Brokerage
Mitchell’s Twitter thread about the Korean seller
info@sorkinatm.com
Marshall & Sterling
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
The Life-Changing Potential of Buying a Business
20 juli 2023 · 1 uur 17 min
Chris Munn, Bakari Akil, and Bruce Vann reflect on being Black men who bought businesses & why this path is so powerful. Lees meer
Topics in this interview:
What inspires and motivates them as business owners
The three necessary factors for capitalism to work
Unclaimed opportunities for minority businesses
The impact of entrepreneurship on family and future generations
Changing your mentality to lead a company effectively
Being “buttoned up” vs. being authentic
Dealing with sellers who want to talk U.S. politics
Overcoming challenges and persisting in the face of adversity
The limitations of “climbing the ladder” in a W2
Why now is the best time for Black people to buy businesses
References and how to contact:
Bakari Akil LinkedIn - Twitter - Graves Hall Capital
Elliot Holland LinkedIn - Twitter - Guardian Due Diligence
Bruce Vann LinkedIn - LuXout Products Inc - Blinds & More
Chris Munn LinkedIn - The Fairfield Company
Dame Dash Full Interview at The Breakfast Club Power 105.1
Early Career LBOs Using the Search Fund Model
HBR Guide to Buying a Small Business
Why Should White Guys Have All the Fun? by Reginald F. Lewis and Blair S. Walker
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
How One Tiny Acquisition Grew Into a Holdco
17 juli 2023 · 1 uur 25 min
Matt Huggins bought a small water & cable utility doing $200k/year. 15 years later, his holdco is on track for $20m/yr. Lees meer
Topics in this interview:
Matt's decision to step off the academic track
Matt's career as a professional online poker player
Transitioning from poker to small business
Acquiring a utilities company for a group of condos
The surprising complexity of running a utilities company
Starting a manhole lining business
The stability and diversity of the water industry
Acquiring businesses from retiring owners without needing capital
The value of a fractional CFO
The reward of helping employees
References and how to contact Matt:
Twitter
LinkedIn
Peak Group Companies
Advanced Lining
Peak Water Services
Advanced Pump & Equipment
Gordo Sales
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
5x in 5 Years: Buying Small to Grow Quickly
10 juli 2023 · 1 uur 29 min
Holdco entrepreneur Chase Murdock buys very small businesses with potential for rapid growth & decades of staying power. Lees meer
Topics in Chase’s interview:
Starting a custom suit company with $750
Decata Group's “car wash integration process” for acquisitions
Workshop SLC’s 5x growth in the first year of acquisition
Getting out of the “small business death zone” ASAP
The knife fight of acquiring and growing small businesses
The #1 ingredient in company building
Maslow’s hierarchy of business needs
What surprised him about the trades industry
Conviction in the ability to 5x a business in 5 years
The intellectual challenge of building a holdco
Links and how to contact Chase:
Twitter
LinkedIn
Decada Group
Tailor Cooperative
Workshop SLC
Built by Design Construction
Northern Electric Company
Tatton Baird
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with A-players who can run your business remotely:
More Staffing
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Snowball Effect: Getting to $45m in 3 Years
6 juli 2023 · 1 uur 33 min
Amir Haboosheh was drawn to the double-opportunity in acquiring home services businesses: the financial, and the impact. Lees meer
Topics in Amir’s interview:
Why Amir wasn’t interested in a digital business
Offering blue collar employees shares in the company
Snowball’s plan for going public
Snowball’s playbook for operating businesses
How to hire a good GM for your business
How to incentivize operators
Acquiring a marketing company
Why SDE isn’t everything
How Anderson Air doubled revenue in 3 years
Retaining the brands post-acquisition
Links and how to contact Amir:
LinkedIn
Twitter
Snowball
Acquira
Enduring Ventures
The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
Anderson Air
Digitally Savvy
Traction: Get a Grip on Your Business by Gino Wickman
Get A Grip: How to Get Everything You Want from Your Entrepreneurial Business by Gino Wickman
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Don't Overlook HR Diligence: 3 Items to Check
3 juli 2023 · 41 min
Mark Sinatra returns to explain what to diligence from an HR perspective when buying your business. Lees meer
Topics in Mark’s interview:
Top 3 things to diligence in your acquisition when it comes to HR
How industry associations can be a source of deal flow (once you're already acquired)
"Book of business" acquisitions
Best type to execute add-on acquisitions
How to prioritize what to integrate in an add-on acquisition
How to recover from losing a big customer
Value of personality profiling tools in hiring
Links and how to contact Mark:
LinkedIn
mark@aspenhr.com
ETAequity.com
AspenHR.com
Connect with A-players who can run your business remotely:
More Staffing
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
How to Shorten Your Search: Big 3, Little 2
29 juni 2023 · 54 min
Sam Rosati shares a framework to clarify your search criteria & reduce the months it takes to find a business to buy. Lees meer
Topics in Sam’s interview:
The reason search takes so long
How to speed up your search process
Underwriting criteria of SBA lenders
Knowing how to kill a deal
Considering the fit of the searcher as CEO
Understanding SBA loan framework
Importance of recurring or repeating revenue
Opportunities and risks in buying small
Managing criteria to get enough deals in the pipeline
Common mistakes searchers make
Links and how to contact Sam:
Twitter
Links to all Sam’s projects
Pursuant Capital
Nick Haschka
Sam Rosati’s investor list
Raise $800k to Buy an $8m Business | Kevin Bibelhausen Interview
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
The Secret to $25m Success
26 juni 2023 · 1 uur 42 min
James Bloom has 8x'd a small mechanical contractor he bought only 4 years ago, despite it being a competitive industry. Lees meer
Topics in James’s interview:
How his background in M&A informed his due diligence process
How he ensured a smooth transition
Commercial HVAC vs. residential HVAC
Why he funded growth out of his own pocket
Reducing his weekly work hours from 100 to 60
How his business differentiates itself in the construction industry
Growing his staff from 8 to 80
Growing revenue from $3M to $25M
Working with unions
Bringing in outside capital to grow
Links and how to contact James:
jbloom737@gmail.com
LinkedIn
Excel Mechanical Contractors
Buy your ticket to the ETA conference devoted to self-funded search:
The Self-Funded Search Conference (Sep 30 & Oct 1 in Dallas)
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
What Buying Small Is Like When Crises Happen
22 juni 2023 · 1 uur 18 min
3 days into Monte Marcum's acquisition of an established franchise, key equipment breaks. Then the crises kept coming. Lees meer
Topics in Monte’s interview:
Buying 2 existing & adjacent franchise businesses at once
How Filta’s customer pricing is structured
Why commercial kitchens love his business
Combining two businesses
Equipment starts breaking on day three
Monte’s series of fetal position moments
What exactly is hard about running a business
How one rockstar employee guided him through a season of crisis
The biggest risk of buying small
The importance of a support system
Links and how to contact Monte:
LinkedIn
monte@marcumbrick.com
Codie Sanchez: These “Boring Businesses” Will Make You Rich
Filta Environmental Kitchen Solutions
John Schooler update episode on Acquiring Minds
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Self-Funded Search vs. Independent Sponsorship
20 juni 2023 · 1 uur 43 min
Niklas James started off as a self-funded searcher, but evolved into being an independent sponsor of 7 acquisitions. Lees meer
Topics in Niklas’s interview:
Why he returned the funds raised for his traditional search fund
How the painful challenges of his first acquisition set him up for success on later deals
Why SaaS isn’t as sexy as it seems
Evolution from self-funded searcher to independent sponsor
Definition of an independent sponsor
Why HVAC is so attractive
Growing his home services business
What type of person should consider independent sponsorship
The difference between searchers and independent sponsors
The difference between a holdco and independent sponsorship
Links and how to contact Niklas:
niklas.james@gmail.com
LinkedIn
McGuireWoods Independent Sponsor Conference
Buy your ticket to the ETA conference devoted to self-funded search:
The Self-Funded Search Conference (Sep 30 & Oct 1 in Dallas)
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
The Bumpy Reality of Buying an Ecommerce Business
15 juni 2023 · 53 min
Martin Bispels updates us on the DTC ecommerce business he bought in 2020 and had grown to almost $2m/yr one year later. Lees meer
Topics in Martin’s interview:
Using the Entrepreneurial Operating System (EOS)
Building and managing a great remote team
Why he doesn’t sell on Amazon
The difference between buying and shopping
Opportunities for bolt-on products
Marks of a good ecommerce business
The power of story to differentiate your product
Moving his supplier from China to Vietnam
Finding a good 3PL
Keeping the founder in the business
Links and how to contact Martin:
Martin@upperparkdiscgolf.com
LinkedIn
Upper Park Disc Golf
Carro app
Frangiosa Farms
Keith Linebach: 8 Figure Exit, 2 Years After Buying the Business
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Owner vs CEO: 2 Approaches to Buying a Business
12 juni 2023 · 1 uur 25 min
Derek Turner has done both a traditional search fund and self-funded. We hear both stories & explore the differences. Lees meer
Topics in Derek’s interview:
The advantages of a geographically-focused search
His method for pitching business owners doing cold outreach
Challenges within the laser van business
Being a good soldier vs being a sucker
The downside of growth
The perils of buying from unpleasant owners
How the company grew with no marketing
Hiring a GM to run the business
Why have a board with a self-funded acquisition
Why self-funded search feels different than traditional search funds
Links and how to contact Derek:
Twitter
LinkedIn
Roll-a-Shield
Derek’s Twitter thread “When does a ‘good soldier’ become a ‘sucker’?”
Derek’s thread on traditional search (being a CEO) vs. self-funded search (being an owner)
With SIG, you can buy your own business and retain majority ownership:
Search Investment Group
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
One Acquiring Minds Guest Buys Another
8 juni 2023 · 1 uur 4 min
2 previous guests, Mike Botkin & Adrian Pinto, are joining forces to grow a landscaping empire throughout the Southeast. Lees meer
Topics in Adrian and Mike’s interview:
Adrian and Mike meeting through Acquiring Minds
Why it was difficult for Adrian to get a line of credit for his business
Mike’s holding company acquired Adrian’s landscaping company
The pros and cons of buying assets vs. stock
How an SBA loan can hamper growth in some situations
Why Mike says acquisition is a talent game
How they structured their acquisition
Adrian’s role as CEO post-acquisition
How rolling equity can benefit the seller
Mike’s holdco origin story
Links and how to contact Adrian and Mike:
Mike’s LinkedIn & Twitter
Adrian’s LinkedIn & Twitter
Adrian's recent episode: How to 2x Sales in a Service Business You Buy
OneOutdoor
Georgia Scapes
With SIG, you can buy your own business and retain majority ownership:
Search Investment Group
Get a complementary pre-acquisition HR & PEO review for your target business:
Contact mark@aspenhr.com or visit Aspen HR
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter
-
Raising $800k to Buy an $8m Business as a First-Timer
5 juni 2023 · 1 uur 25 min
With no finance background, Kevin Bibelhausen learned to raise money from investors & buy a 20-year-old fabric business. Lees meer
Topics in Kevin’s interview:
His health crisis that led to a career change
Losing funding at the last minute
Raising $800k in 5 weeks
Automating his money-raise process with investors
The value of being active on Twitter
Acquiring a $8m business using very little of his own money
The ideal number of investors
What attracted Kevin to Heritage Fabrics
Managing working capital with a long sales cycle
His investment fund, Fruition Capital
Links and how to contact Kevin:
LinkedIn
Twitter
Fruition Capital
Sam Rosati’s Investor List
Nick Haschka’s episodes on Acquiring Minds:
How One Small Acquisition Led to 9 More in 5 Years
6 Ways Buying a Business Has Changed Since 2016
HBR Guide to Buying a Small Business
Learn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition Lab
Get complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund Team
Connect with Acquiring Minds:
See past + future interviews on the YouTube channel
Connect with host Will Smith on LinkedIn
Follow Will on Twitter