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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:
    Networking His Way to $800k SDE Feb 13, 2025
    Show notes

    Register for the webinars:

    • Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/4aOwtlM
    • Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/4hQbn9e

    It took Alex Holley a few months of daily meetings to find a $4.5m home services business in his local Louisville, KY.

    Topics in Alex’s interview:

    • Networking through 100 meetings in 4 months
    • Buying 2 businesses at once
    • Learning how to run a crew
    • Going on jobs to learn about the work
    • Leaving consulting for blue-collar industry
    • Owning weather-dependent businesses
    • Taking on a friend as a silent partner
    • A close call with payroll the first week
    • Building rapport with the employees
    • Having a blast in home services

    References and how to contact Alex:

    • LinkedIn
    • BDry Systems of Louisville
    • RamJack
    • Adam Duggins on Acquiring Minds: From Determined Searcher to $75m Accidental Holdco
    • Ben Rizzo on Acquiring Minds: How a First-Timer Did a Turnaround (Including an Exit)

    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

    Credits:

    • Produced by Pam Cameron
    • Edited by Anton Rohozov

    Buy, Grow, Exit for a 24x Return in 3.5 Years Feb 10, 2025
    Show notes

    Register for the webinars:

    • Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/414vOtc
    • Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/42I4dPY

    Former guest Chris Edwards has sold the $1.7m flooring business he bought with $200k of his own money and an SBA loan.

    Topics in Chris’s interview:

    • Why he chose to sell his flooring business
    • Deciding not to rebrand
    • Owning and operating in a small, isolated town
    • A countertop acquisition that went south
    • How a holdco is different from running one business
    • Fetal positions and sleepless nights
    • Improving their customer service
    • Why he might build his next business from scratch
    • Losing clients to a former employee
    • Growing EBITDA from $500k to $1.1M

    References and how to contact Chris:

    • Twitter
    • LinkedIn
    • chris@sanitasequity.com
    • Chris’s first appearance on Acquiring Minds: How to Survive Acquiring a $3.5m Flooring Business
    • Chris’s second appearance on Acquiring Minds: Would They Do It Again? 1 Year Later with 5 Early Guests

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

    • From this page or contact mark@aspenhr.com

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of 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

    Credits:

    • Produced by Pam Cameron
    • Edited by Anton Rohozov

    How to Lead a Trades Business Without Knowing the Trade Feb 06, 2025
    Show notes

    Register for the webinars:

    • 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/4aNHmEz
    • Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/3PXBEX6


    Industry-agnostic Trip Biesanz brought his sales skills to a glass fabrication & install business doing $3m in revenue.

    Topics in Trip’s interview:

    • Being a franchisee for 7 years
    • Networking through MBBI and XPX
    • Working with Calder Capital to find a business
    • Narrowing down his search to construction
    • Value he saw in long-term employees
    • Managing cashflow in construction
    • Relying on his team in an unfamiliar trades business
    • Competitive nature of construction
    • Highs and lows of running a business
    • Franchising compared to owning an independent shop

    References and how to contact Trip:

    • LinkedIn
    • G&C Glass, Mirror & Construction
    • MBBI
    • XPX

    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

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of 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

    How to Move the Needle in a $600k SDE Trades Business Feb 03, 2025
    Show notes

    Register for the webinars:

    • 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/3En1vFu
    • Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/3EjjOex


    7 months into ownership of a $2m fencing business, Kirk Olson is learning how to manage culture, tech, and cash flow.

    Topics in Kirk’s interview:

    • Achieving financial independence, but deciding not to retire
    • Buying a business for a total life upgrade
    • Negotiating with very difficult sellers
    • Structuring real estate into the deal
    • Returning after the first deal died
    • Sales dropping after the transition
    • Learning to calculate the cost of a job
    • Introducing a CRM and ditching the fax
    • Making Mike’s Fencing a great place to work
    • Turning on digital marketing

    References and how to contact Kirk:

    • kolson@mikesfencing.com
    • Mike’s Fencing
    • John Murphy’s episode: The Double Life of Owning a Business 2.5 Hours Away

    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

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

    • From this page or contact mark@aspenhr.com

    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

    Awakening to Entrepreneurship to Buy a Not-Boring Business Jan 30, 2025
    Show notes

    Register for the webinars:

    • Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/4hlhlic
    • 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/3Qautet


    When Shell Zhang recognized her own tolerance for risk she stepped off a linear path to buy a $600k SDE travel business.

    Topics in Shell’s interview:

    • Buying a group tour business
    • Overcoming key-person risk
    • Going from a regional company to a national company
    • Avoiding “boring businesses”
    • Paying over asking price for the business
    • Why payment processors consider her business “high risk”
    • Starting from zero with online marketing
    • What her clients love about the business
    • Possible areas for growth
    • Her goal of redoing the website

    References and how to contact Shell:

    • LinkedIn
    • Nada’s Italy

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    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

    How a Couple Left Tech to Buy a Business Together Jan 27, 2025
    Show notes

    Register for the webinars:

    • Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/4heHi35
    • 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/4h7HOQj


    Ray & Dana Chery sensed a need for change in their careers. A 26-year-old portable sink manufacturer was the answer.

    Topics in Dana and Ray’s interview:

    • Going all-in as a couple buying a business
    • How they beat out 50 other buyers
    • Moving from the finance world to manufacturing
    • Buying a portable sink manufacturer
    • How Ray applies his banking skills
    • Revamping the website and logo
    • Opportunities to sell to more school districts
    • Challenge of prioritizing tasks at the business
    • Their vision to grow the company to 8 figures
    • Wide variety of use cases for portable sinks

    References and how to contact Dana and Ray:

    • Ray’s LinkedIn
    • Dana’s LinkedIn
    • Monsam Portable Sinks
    • Will Gano on Acquiring Minds: After 4 Years of Part-Time Searching, Success

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of Pioneer Capital Advisory

    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 Survive Buying into a Terrible Industry Jan 23, 2025
    Show notes

    Register for the webinar:


    •Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/3CbswuP


    Months into his ownership, Ayo Phillips realized his industry was fatally flawed. He survived and 5 years later, exited.

    Topics in Ayo’s interview:

    • Acquiring with funding from a family office
    • Buying a declining business in a competitive industry
    • Unethical practices within his industry
    • Being honest about your motivation to buy a business
    • Losing 19 employees who became competitors
    • Treating his business like a startup
    • Pivoting from countertops to driveways
    • The toll the business took on his family
    • Successfully exiting the business
    • His 16 Commandments of Search

    References and how to contact Ayo:

    • The 16 Commandments of Acquisition Entrepreneurship
    • LinkedIn
    • Twitter
    • Operators Coach
    • Twitter thread
    • LP First Capital
    • Thomas Ince

    Get a complementary pre-acquisition HR & PEO review for your target business:

    • Contact mark@aspenhr.com or visit Aspen HR

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

    • Book a call with Tim or email 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

    Credits:
    Edited by Anton Rohozov
    Produced by Pam Cameron


    The $50m Lifestyle Holdco Jan 20, 2025
    Show notes

    Register for the webinars:


    •Is It a Fair Multiple? The Art of Making Your Offer - Wed Jan 22 - https://bit.ly/4asGoxw
    •Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/3CbswuP


    Abhi Ravishankar & 3 partners devised a novel holdco structure to prioritize flexibility, cash flow, and the long term.

    Topics in Abhi’s interview:

    • Going from BCG partner to small business buyer
    • Starting a holdco with 3 friends
    • Their primary and secondary partner model
    • Setting up contingency plans in their operating agreement
    • Goal of spending more time with family
    • Not taking on investors
    • Quickly learning about potential industries
    • Closing on a pool business in 6 weeks
    • 4 add-ons in 18 months
    • Acquiring 2 ShelfGenie franchise locations

    References and how to contact Abhi:

    • LinkedIn
    • Twitter
    • Marc Nzojibwami’s episode: The Model for a 3-way Longterm Holdco

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

    • Oberle Risk Strategies - Search Fund Team

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of 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

    How to 4x a Contracting Business in 3 Years Jan 16, 2025
    Show notes

    Mike Heath bought a garage door installer from owners who didn't use email. He grew sales fast, but profits came harder.

    Topics in Michael’s interview:

    • Passing on a commercial cleaning business
    • Acquiring a garage door business with silent partners
    • Installing an operator on day one
    • Messy, unkempt books from the seller
    • Hitting a cashflow crisis
    • Bringing in a consultant and keeping her on full-time
    • Paying off the SBA loan early
    • Doubling their gross margin
    • Splitting revenue across 3 partners
    • Acquiring 2 pool businesses

    References and how to contact Michael:

    • LinkedIn
    • Stateline Products of Missouri
    • Florida Pool and Spa
    • Pool King Recreation

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

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

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of 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

    How to Buy a $13m Business with No PG, No Investors Jan 13, 2025
    Show notes

    Sale-leaseback and asset-based lending enabled Carlo Santelli to acquire and own 100% of a $3.5m EBITDA manufacturer.

    Topics in Carlo’s interview:

    • Applying 3x to Columbia before getting in
    • Leaving a finance career to buy a business
    • Why he only buys proprietary, not through brokers
    • Maintaining deal momentum when a seller is very busy
    • The power of asset-based lending
    • The power of a successful sale leaseback
    • Being comfortable learning as you go
    • How he thinks about risk
    • Closing on 4 businesses this year
    • His ambitious goal for next year

    References and how to contact Carlo:

    • LinkedIn
    • carlo.santelli@gmail.com
    • Cortina Capital Partners

    Get a complimentary IT audit of your target business:

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

    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

    Previous 1 16 17 18 19 20 50 Next

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