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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:
    Surviving the Nightmare: Sales Plunge 95% May 11, 2023
    Show notes

    9 months after Jesse Safir bought a printing biz, Covid cratered it. 3 years later, sales are nearing pre-Covid levels.

    Topics in Jesse’s interview:

    • Finding ABG Printing by sending direct mail
    • The value of having a “forgettable” business
    • Renegotiating his deal before acquisition
    • The changes he made in the first 9 months
    • Cutting 80% of his staff during COVID
    • Managing cash flow after revenue plunged 95%
    • Staffing post-COVID
    • How their printing projects have diversified
    • The landscape of the printing industry
    • Jesse’s vision for a holdco

    Links and how to contact Jesse:

    • LinkedIn
    • jesse@abgprint.com
    • abgprint
    • The Dip by Seth Godin
    • Jesse on Let’s Buy a Business

    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

    How to Raise Money from Investors to Buy a Business May 08, 2023
    Show notes

    2 searchers, Kaustubh Deo & Kevin Bibelhausen, share how they found investors to provide money to buy their businesses.

    Topics in Kevin and Kaustubh’s interview:

    • How Twitter helps searchers learn and network
    • How Kevin found investors after his funding fell through
    • How they selected investors
    • What a good pitch meeting looks like
    • How they communicate with investors post-acquisition
    • The power of superconnectors when raising funds
    • The size of their cap tables
    • How they organized their contacts while pitching investors
    • How to get the most equity in your business
    • The most gratifying and stressful parts of running their businesses

    Links and how to contact Kevin and Kaustubh:

    • Kaustubh’s LinkedIn
    • Kevin’s LinkedIn
    • Kevin’s Twitter
    • Investor List
    • HBR Guide to Buying a Small Business
    • Sam Rosati
    • Tony Cappaert
    • Lisa Forrest
    • Mike Botkin

    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 to Buy a $5m Business & Hire an Operator to Run It May 01, 2023
    Show notes

    It CAN be done: Matthew Saskin recently acquired a big towing business, hiring an operator to run it from day 1.

    Topics in Matthew Saskin’s interview:

    • Why he chose a towing company
    • Putting in an operator from day one
    • Improvements he made right away
    • Why he kept his day job (and how he manages it)
    • His COO’s compensation package
    • What is phantom equity (and how it’s different from true equity)
    • How real estate investment is different from SMB ownership
    • The landscape of the towing industry
    • Revenue streams for towing companies
    • How they recruit drivers

    Links and how to contact Matthew:

    • Matt's business plan. We decided not to link to it directly. Email Matt to request a copy, and he'll share it with you directly 👇👇
    • msaskin@eastcoasttowing.com
    • LinkedIn
    • Twitter
    • East Coast Towing

    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

    The Opportunity in Carve-Outs (and Uncle Sam) Apr 27, 2023
    Show notes

    Caroline Chapdelaine seized opportunity when a biomed company needed to sell a $2m unit that made special defense tech.

    Topics in Caroline’s interview:

    • About the defense contracting industry
    • Buying a business in the defense industry (and why it’s hard)
    • Buying a carve-out business
    • The unusual terms of a carve-out deal
    • Unforeseen costs after purchasing a carve-out
    • The benefits of having partners
    • Assessing the strategic value of your business to its customers
    • Running out of money months after purchase
    • Getting an SBA loan against her business assets
    • Remotely running a California business from Utah

    Links and how to contact Caroline:

    • LinkedIn
    • Caroline.chapdelaine@northstarphotonics.com
    • Northstar Photonics

    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

    Fetal Position to Foundry Holdco ($30m & Counting) Apr 24, 2023
    Show notes

    Despite dire warnings against it, Reg Zeller bought a foundry. He's since bought 6 more & sees a clear path to $100m/yr.

    Topics in Reg Zeller’s interview:

    • Why he bought a foundry (against everyone’s advice)
    • The famous fetal position story
    • The importance of a peer group
    • His journey from one acquisition to a holdco
    • Why searchers should spend 2 years operating the business they buy
    • Reg’s plan to get to $100 million
    • How to eliminate key man risk
    • How Reg found his rockstar COO
    • Opportunities in non-manufacturing spaces
    • The opportunities in onshoring

    Links and how to contact Reg:

    • Twitter
    • CaneKast
    • The Twitter thread Reg mentioned
    • Shoe Dog by Phil Knight
    • HoldCo Conference

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

    • The Acquisition Lab

    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

    How to 2x Sales in a Service Business You Buy Apr 20, 2023
    Show notes

    Adrian Pinto returns to reflect on his 1.5 years as owner of a landscaping business that he's grown from $3m to $6m/yr.

    Topics in Adrian’s interview:

    • Buying and growing Georgia Scapes
    • Growth through acquisition in landscaping
    • Doubling revenue in 18 months
    • His B2B sales process
    • Competition in landscaping
    • Commercial vs residential landscaping
    • Maintenance work vs project work
    • Due diligence for a landscaping company
    • Beyond EBITDA: evaluating size of business to buy
    • Risks in acquiring a landscaping business

    Links and how to contact Adrian:

    • adrian@georgiascapes.com
    • Twitter
    • LinkedIn
    • Georgia Scapes
    • Adrian’s first appearance on Acquiring Minds
    • Mike Bodkin on Acquiring Minds
    • Logan and Bradley on 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

    How to Build a Portfolio of 20 Franchise Locations Apr 17, 2023
    Show notes

    Michael Horowitz was looking to buy an independent business when a different path opened up. Today he owns 20 Wingstops.

    Topics in Michael’s interview:

    • Pros and cons of searching within franchises
    • Why Michael was attracted to QSR’s (quick service restaurants)
    • Buying 7 Wingstop locations in Ohio
    • Writing an operating agreement for 3 co-owners
    • Development agreements with franchises
    • Operating QSR’s during Covid
    • Opening and closing a ghost kitchen
    • Daily operations of owning 20 Wingstop locations
    • Motivating hourly restaurant employees
    • Michael’s advice for searchers considering QSR’s

    Links and how to contact Michael:

    • LinkedIn
    • Twitter
    • Michael Horowitz on Franchise Empires

    Connect with A-players who can run your business remotely:

    • More Staffing

    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

    Life as an Operator: Leaving PE to Buy a $2m Tree Business Apr 13, 2023
    Show notes

    Kaustubh Deo reflects on his first year as the owner of a tree business versus his former life in NYC private equity.

    Topics in Kaustubh’s interview:

    • Buying a tree service business
    • Buyer’s vs seller’s discretionary earnings
    • Reflecting on 13 months as a business owner
    • Possibility for roll-ups
    • Being an outsider in the tree industry
    • Change management
    • His thoughts on holdcos
    • Measuring success for his business
    • Life as a business owner vs. life in private equity
    • His advice for searchers

    Links and how to contact Kaustubh:

    • LinkedIn
    • kd@bloomatree.com
    • Kaustubh on Think Like an Owner
    • Blooma Tree Experts

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

    • Oberle Risk Strategies - Search Fund Team

    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

    From Determined Searcher to $75m Accidental Holdco Apr 10, 2023
    Show notes

    Adam Duggins had 650 meetings to find his first business in 2013, not expecting he'd buy 3 more over the next 10 years.

    Topics in Adam Duggins’s interview:

    • Meeting with 650 people (in person!) during his search
    • How Adam found his partner & structured their ownership
    • How Adam became a holdco without meaning to
    • How motivating blue collar workers versus white collar careerists is different
    • Why Adam prefers working with blue collar versus white collar
    • Buying businesses in overlooked geographies
    • A bit about each of Adam's 4 businesses: steel fabrication, commercial HVAC, Jet-Hot, boiler services
    • What to love about businesses in the construction industry
    • Stability vs. growth
    • Early mistakes as an owner

    Links and how to contact Adam:

    • New Page Capital
    • W.C. Rouse
    • Engineered Steel
    • American Industrial Contractors
    • Jet-Hot
    • Adam’s email: adoug@newpagecapital.com

    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

    Feast or Famine: How to Grow a Niche Manufacturing Biz Apr 06, 2023
    Show notes

    Bruce Vann returns to update us on his manufacturing business, and a thesis around the roll-up of window blinds stores.

    Topics in Bruce Vann’s interview:

    • Buying a stage curtain/shades business
    • Profitability of the business
    • Their curtain and shades products
    • Acquiring a blinds company
    • Integrating his businesses
    • Bruce’s vision for expansion
    • The possibilities for search in window treatments
    • The feast or famine nature of the business
    • The long sales cycle
    • Investing in a ribbon weight machine
    • Bruce’s advice to searchers

    Links and how to contact Bruce:

    • Bvann@luxout.com
    • LuXout Stage Curtains

    Connect with A-players who can run your business remotely:

    • More Staffing

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

    • Contact mark@aspenhr.com or visit AspenHR

    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 34 35 36 37 38 50 Next

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