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    Business

    Acquiring Minds

    Buying a business is an amazing path for many successful entrepreneurs. Learn how to buy a business from the entrepreneurs who have already done it. 2x per week: stories, insights, & valuable advice about acquisition entrepreneurship. Hosted by Will Smith, who is on his own path to acquire a business.

    Also on YouTube:
    https://www.youtube.com/@AcquiringMinds

    Sign up for episode summaries at:
    https://acquiringminds.co

    Advertise

    Copyright: © 2021 - 2023, Acquiring Minds

    • Apple Podcasts
    • Google Play
    • Spotify

    Latest Episodes:
    The Entrepreneur Awakens: Pivoting from Tech to Ownership May 29, 2025
    Show notes

    Register for the webinar:

    • How to Outsource Your Search: Understanding Buy-Side Advisory - Jun 6th - https://bit.ly/43q0JQR

    Kin Sio first tried real estate as he explored a path out of tech, but buying a business was his ultimate destination.

    Topics in Kin’s interview:

    • Immigrating from China
    • Pivoting from tech to entrepreneurship
    • Wanting more flexibility to care for family
    • Deciding against using ROBS
    • Running his Hawaiian business from Seattle
    • Plans to expand to the mainland
    • Building and maintaining a company culture
    • Converting seller hours to human hours
    • Managing hotel room pricing
    • How culture influences risk taking

    References and how to contact Kin:

    • LinkedIn
    • Lights On
    • Doug Johns on Acquiring Minds: Opening Up to Franchises to Buy a Great Business

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Quitting Consulting to Buy a $1m SDE Agency May 26, 2025
    Show notes

    Register for the webinar:

    • Buy a Business, Not a Fantasy: Addressing This Month’s 7 Most Common Buyer Concerns - Wed May 28th - https://bit.ly/43u7oto

    When Julia Hensel decided to pursue entrepreneurship, husband Grant helped her find a remote business with a great team.

    Topics in Grant & Julia’s interview:

    • Julia’s background at BCG
    • Grant’s many zero-to-one businesses
    • Key lessons learned from failed LOIs
    • Why they avoided SBA loans
    • The acquisition of Lexigate and what made it the right fit
    • Standing out in a competitive process
    • Is AI destroying SEO?
    • Meeting clients and employees before purchase
    • Transitioning from BCG to business ownership
    • Leading a mostly Romanian team

    References and how to contact Grant & Julia:

    • Julia’s LinkedIn
    • Grant’s LinkedIn
    • Lexigate
    • Nonprofit Megaphone
    • Entrepreneurial Capital
    • The Culture Map by Erin Meyer

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Rebuilding from 80% Collapse to Mid-7 Figures Revenue May 22, 2025
    Show notes

    Register for the webinar:

    • Use an SBA Loan to Start a Roll-Up - TODAY May 22nd - https://bit.ly/4jgfQSY

    Covid forced Scott Alexander to pivot & rebuild the marketing agency he'd acquired just one year earlier. It worked.

    Topics in Scott’s interview:

    • Buying a digital marketing agency
    • Disappointment with the seller
    • Understanding customer churn
    • Post-transition surprises with bookkeeping
    • Turning around a bad company culture
    • Wartime CEO vs Peacetime CEO
    • Revenue devastated during Covid
    • Rebranding and redirecting the company
    • Using Facebook for medical sales
    • Marketing Agency 101

    References and how to contact Scott:

    • LinkedIn
    • Jason Andrews on Acquiring Minds: How I Bought & Sold a Healthcare Business for 8 Figures
    • Scott@jairusmarketing.com
    • Jairus Marketing

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Buying $5m of Revenue with $50k of Equity May 19, 2025
    Show notes

    Register for the webinar:

    • Use an SBA Loan to Start a Roll-Up - Thu May 22nd - https://bit.ly/4kj566X

    Devin Fitzgerald bought two businesses after one sentence changed his life: It's easier to buy revenue than create it.

    Topics in Devin’s interview:

    • Business is just solving problems
    • It’s easier to buy revenue than create it
    • Losing 8 months to a dead deal
    • Buying 2 declining businesses
    • Turning around a bad work culture
    • Herding sellers to the finish line
    • How the new SBA rules affected his second acquisition
    • Honoring his grandmother’s memory
    • Bringing high energy to work
    • The gift of getting to choose your team

    References and how to contact Devin:

    • LinkedIn
    • RML Service Group

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    How to Use an SBA Loan to Roll Up from $6m to $140m May 15, 2025
    Show notes

    Register for the webinar:

    • Use an SBA Loan to Start a Roll-Up - May 22nd - https://bit.ly/4mays9p

    Michael Davidov bought a home care agency with an SBA loan. 6 years later, he's grown & acquired to $140m in revenue.

    Topics in Michael’s interview:

    • His “other side of the table” moment in private equity
    • Partnering to buy a home health agency
    • Digitizing a pen and paper business
    • Seeing his employees as customers
    • Narrowly avoiding a payroll disaster
    • Going slow to go fast
    • Rapid growth through additional acquisitions
    • His hiring criteria for leaders
    • Absorbing a business much larger than themselves
    • Growing revenue beyond $100 million

    References and how to contact Michael:

    • LinkedIn
    • Pine Street Group
    • Jonathan Sassover
    • Jerome Buillon: How to Double and Exit a Home Care Agency

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    How 1 Couple Bought 2 Businesses May 12, 2025
    Show notes

    Register for the webinar:

    • How to Use a Buy-Side Advisor to Buy a Business - Thu June 5th - https://bit.ly/3H4mduT

    The original plan was for Lindsay Buckheit to buy a business. As husband Kevin Black got involved, that plan evolved.

    Topics in Lindsay and Kevin’s interview:

    • Their desire to leave corporate life
    • Joining Codie Sanchez’s Contrarian Community
    • No deals after 8 months of part-time searching
    • Enlisting AcquiMatch to help them find a business
    • Closing on 2 businesses
    • Offering a higher sale price in exchange for a seller note
    • Mitigating key man risk in both businesses
    • Finding a bank to finance their acquisitions
    • Why they recommend flat-rate due diligence services
    • The arduous loan application process

    References and how to contact Lindsay & Kevin:

    • Lindsay LinkedIn
    • Kevin LinkedIn
    • Collective Creative Outdoors
    • Holdsworth & Nicholas
    • AcquiMatch
    • 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

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    How to Recover from a Fraudulent Seller May 08, 2025
    Show notes

    Register for the webinar:

    • Deal Structuring Under the New SBA Rules - TODAY May 8th - https://bit.ly/4jFLpX2

    Jason Jackson thought he bought a $1.5m SDE dental practice. In fact, the business was losing money & engaging in fraud.

    Topics in Jason’s interview:

    • Value of pattern recognition in business
    • Missing fraud despite $400k of due diligence
    • Turning around a business with negative EBITDA
    • When to fire a top performer
    • Fixing a broken work culture
    • Why he decided not to sue the seller
    • Hands-on learning in every role
    • Changing their revenue model during Covid
    • Focusing on cash, culture, and communication
    • Why his investors were thrilled with a 2x return

    References and how to contact Jason:

    • LinkedIn
    • Jason’s partner Olaide Lawal
    • Futaleufu Partners
    • The Manager’s Handbook by David Dodson

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Turning a $250k Investment into $7m+ May 05, 2025
    Show notes

    Register for the webinar:

    • Deal Structuring Under the New SBA Rules - Thu May 8 - https://bit.ly/4m7VH47

    Marvin Karlow & his partner bought a powder-coating business with $500k in equity. 8 years later, they exited.

    Topics in Marvin’s interview:

    • Going from corporate to blue collar business
    • Buying a business with his best friend
    • Picking a lane and staying in it
    • Biggest customer slashing prices right after transition
    • Putting personal money into the business
    • Losing a major customer
    • The customer that turned it all around
    • Buying 2 turnarounds
    • Merging and exiting the businesses
    • Tax savings through QSBS

    References and how to contact Marvin:

    • LinkedIn
    • marvin.karlow@raincatcher.com
    • Raincatcher
    • Steve Mariani

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Buying a Remote, 20-Year-Old Business with $900k of SDE May 01, 2025
    Show notes

    Register for the webinar:

    • Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4jreo0U

    Dan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.

    Topics in Dan Angel’s interview:

    • Leaving his dream career at a hedge fund
    • Coming in a little too hot as the new owner
    • Adding 3 offshore employees
    • Growth isn’t free
    • Running a fully remote team
    • Trying to change the world by 9:00 am

    Topics in Jayme Moylan’s interview:

    • Her 15 years working for Lodging Source
    • Being blindsided by the acquisition
    • Uncertainty over who to answer to while the seller was still there
    • Figuring out how to interact with Dan

    References and how to contact Dan and Jayme:

    • Dan Angel LinkedIn
    • Jayme Moylan LinkedIn
    • Lodging Source
    • Self-Funded Search vs Traditional Search Funds
    • Sam Rosati on Acquiring Minds discussing Big 3, Little 2: How to Shorten Your Search to Buy a Business
    • Chris Williams on Acquiring Minds: System Six: One Year Update

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    21 Months to Stability Buying a $1.2m SDE Business Apr 28, 2025
    Show notes

    Register for the webinar:

    • Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4k8HKBd

    Jan Roll bought a $6m residential contractor, a harrowing experience he calls one giant ambiguous ball of figure-it-out.

    Topics in Jan's interview:

    • Contracting means learning 25-30 trades
    • Margin of safety in a residential construction business
    • Value of paying vendors immediately
    • Engendering trust in a low-trust industry
    • Revenues dropping 25% in first year of ownership
    • Using ROBS to buy the business
    • Pitfalls in contractor licensing
    • The harm in not having an employee agreement with a business partner
    • How to diligence a business partner (or can you?)
    • How SEO & digital marketing supercharged leads

    References and how to contact Jan:

    • LinkedIn
    • Victoria Renovations

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact mark@aspenhr.com

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Edited by Anton Rohozov
    Produced by Pam Cameron


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