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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 Bumpy Reality of Buying an Ecommerce Business Jun 15, 2023
    Show notes

    Martin Bispels updates us on the DTC ecommerce business he bought in 2020 and had grown to almost $2m/yr one year later.

    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 Jun 12, 2023
    Show notes

    Derek Turner has done both a traditional search fund and self-funded. We hear both stories & explore the differences.

    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 Jun 08, 2023
    Show notes

    2 previous guests, Mike Botkin & Adrian Pinto, are joining forces to grow a landscaping empire throughout the Southeast.

    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 Jun 05, 2023
    Show notes

    With no finance background, Kevin Bibelhausen learned to raise money from investors & buy a 20-year-old fabric business.

    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

    It Worked: Buying an Ecom Business to Gain Freedom Jun 01, 2023
    Show notes

    Alex Michael was seeking to acquire not just a business, but freedom. One year later, he reports back on how it's going.

    Topics in Alex’s interview:

    • Top line growth in the last year
    • How he diligenced Wallaroo Wallets
    • How he uses Amazon PPC ads
    • The limitations of an Amazon FBA business
    • An expensive lesson about traffic diversification
    • Launching new products
    • Having his family involved in his business
    • Living life on his own terms
    • His unconventional thoughts on productivity
    • The topics he writes on

    Links and how to contact Alex:

    • LinkedIn
    • QuietLight
    • Alex’s Substack
    • Wallaroo Wallets

    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

    Buy Big: How to Acquire a $3m EBITDA Roofing Business May 30, 2023
    Show notes

    How Austin Smoak raised money from investors to buy a very profitable roofing business that he found on BizBuySell.

    Topics in Austin's interview:

    • How Goldman Sachs prepared him for business ownership
    • Passively owning franchises
    • Why he recommends local brokers over proprietary search
    • Finding “business-buyer fit”
    • His plan to scale via roll-up
    • His philosophy on change management
    • Pros and cons of being funded by a family office
    • The scope of his residential roofing business
    • The roofing industry in Florida
    • How he uses digital marketing

    Links and how to contact Austin:

    • LinkedIn
    • Grove Oaks Capital
    • Axial
    • Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire by Reginald Lewis and Blair S. Walker

    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

    Home Care Business: How to Buy & 2x an Agency May 25, 2023
    Show notes

    Jérôme Bouillon bought a home care agency doing $500k/yr in 2018. Today it exceeds $1m and he's added a second location.

    Topics in Jerome’s interview:

    • His cold calling strategy
    • Buying a Visiting Angels franchise
    • Seeing his employees as his customers
    • The changes he made immediately to employee benefits
    • Why he stopped penny-pinching in the business
    • Why it’s important to know how to work in the business
    • Margins in home care
    • Home care vs. home healthcare
    • How to scale up in this industry
    • The benefits of a franchise

    Links and how to contact Jérôme:

    • LinkedIn
    • Twitter
    • Traction by Gino Wickman
    • Visiting Angels

    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

    Overworked & Underpaid: Buying a Business to Escape May 22, 2023
    Show notes

    Heather Shattuck-Heidorn was a tenure-tracked professor, but wanted out. Buying a business offered freedom & security.

    Topics in Heather’s interview:

    1. What she loved about academia
    2. Why she initially resisted franchises
    3. How she found a custom closet franchise
    4. Being her husband’s employer
    5. Her thoughts on capitalism
    6. How small business ownership differs from academia
    7. What she likes about owning a franchise
    8. How she grows her business organically
    9. Learning to communicate with her employees
    10. Her fetal position moment

    Links and how to contact Heather:

    • heather.sh@tailoredcloset.com
    • HBR Guide to Buying a Small Business by Richard S. Ruback
    • The Power of Flexing by Susan Ashford
    • Buy Then Build by Walker Deibel
    • Home Franchise Concepts

    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

    Learning to Lead: From Searcher to Boss of 140 May 18, 2023
    Show notes

    Having only ever managed a few people when he bought his business, Alex Glasner shares how the trial by fire is going.

    Topics in Alex's interview:

    • The difference between searching and operating
    • The challenge of improving processes
    • How rapid growth affected the company
    • Running the business with a partner
    • How the economy impacts his industry
    • Having the British government as his sole customer
    • Idealism and disillusionment in helping professions
    • Why he hasn’t acquired a second business
    • Why the first 2 years are hard
    • How he has improved as a manager

    Links and how to contact Alex:

    • Alex@workpays.co.uk
    • LinkedIn
    • Workpays
    • Alex’s first appearance on Acquiring Minds

    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

    Uber Driver to 7-Figure Exit in 3 Years May 15, 2023
    Show notes

    Ben Bortner couch-surfed, drove Uber, and racked up credit card debt while finding a pool business to buy. It went well.

    Topics in Ben’s interview:

    • Buying a pool service business, putting in only $100 of his own money for equity
    • Changes he made to employee compensation (and why)
    • Acquiring a second pool business
    • Why Ben became certified to do pool maintenance himself
    • How Ben improved company culture
    • Why he didn’t want to hire a GM
    • Selling his company to Pool Troopers
    • Launching a fund for self-funded searchers
    • The type of searcher he wants to fund
    • What a self-funded deal looks like

    Links and how to contact Ben:

    • ben@slackwatercap.com
    • LinkedIn
    • Slack Water Capital

    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

    Previous 1 33 34 35 36 37 50 Next

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