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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:
    Navigating Failure: Buying a $5m+ Business that Collapses Apr 03, 2023
    Show notes

    John Ikalowych shares his traumatic journey of going all-in to buy a hail-repair business, then having to shut it down.

    Topics in John Ikalowych’s interview:

    • John’s background in commercial banking
    • Buying a car hail repair business
    • Losing half his staff just months after acquisition
    • The disaster that tanked their finances
    • Pivoting from B2C to B2B
    • Shutting down the business
    • How the business failure changed him
    • Closing a business with a personal guarantee
    • John’s advice to searchers
    • The importance of peer support

    Links and how to contact John:

    • LinkedIn
    • 303-704-2461
    • Entrepreneurs’ Organization

    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

    Single Mom, 2 Kids, and a $4m Business Mar 30, 2023
    Show notes

    Morli Desai left corporate to scratch her entrepreneurial itch, using an SBA loan to buy an ecommerce biz with $1m SDE.

    Topics in Morli Desai’s interview:

    • Leaving her corporate job at 40
    • Joining the Acquisition Lab
    • Purchasing an ecommerce business
    • How to approach brokers
    • Transitioning an ecommerce business
    • Purchasing an Australian entity
    • Marketing with PPC
    • Assessing risk in ecommerce
    • Proprietary vs brokered search
    • Inventory management in ecommerce

    Links and how to contact Morli:

    • LinkedIn
    • 4,000 weeks by Oliver Burkeman
    • Sam Harris’s app
    • Quiet Light
    • Market Watch by Centurica
    • Joe Mcaleer of Multifunding, LLC
    • Joel Ankney
    • Amaira Natural Skincare

    Overhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:

    • Eversite

    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

    6 Months from Twitter Inspiration to $2m Business Owner Mar 27, 2023
    Show notes

    Pawel Kosicki learned about buying small businesses in July. By January, he'd bought one himself with 7 figures of SDE.

    Topics in Pawel Kosicki’s interview:

    • Pawel’s background in engineering
    • Valuation of a home theater/automation company
    • Closing on his very first LOI
    • Financing a deal in Canada
    • His philosophy on risk in business
    • The seller staying on as an employee
    • Mitigating risk in a project-based business
    • His plans to grow the business
    • Projected growth in the home automation industry
    • Advice for Canadian searchers

    References and how to contact Pawel:

    • LinkedIn
    • pawel@oakvillesightandsound.ca
    • Sieva Kozinski Twitter thread
    • Oakville Sight and Sound

    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

    Back to a W-2: When Business Ownership Isn't the Way Mar 23, 2023
    Show notes

    Damon Chlarson takes a job in tech sales, despite having improved the business he bought & surviving a tough year.

    Topics in Damon’s interview:

    • Damon bought Pacific Insulation Supply, an online wholesaler
    • Difficulties in scaling the insulation business.
    • Overview of sales in the first year
    • Getting a regular W-2 job again
    • New systems he put in place at the business
    • Training his sales team
    • The challenges of working from home
    • How he runs a business with bipolar disorder
    • Fluctuation in demand for home renovations
    • Managing a sales team in the Philippines

    Damon's original appears on Acquiring Minds:

    • Nailing the Trifecta: B2B + Remote + Scalable - Acquiring Minds

    Links and how to contact Damon:

    • Pacific Insulation Supply
    • Twitter

    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 and 2x a Subcontractor Business Mar 20, 2023
    Show notes

    Brenden Van Buren is growing his fencing business, despite the industry's notorious cyclicality & project-based revenue.

    Topics in Brenden’s interview:

    • Brenden’s family history in the construction business
    • Co-founding Generational Transfer Entrepreneurs
    • The pros and cons of having a pipeline when starting search
    • Why the perfect relationship is better than the perfect business
    • The risks associated with construction companies
    • Acquiring Pro Max Fence Systems
    • How he doubled sales in 4.5 years
    • The top mistakes searchers make regarding time management and communications
    • The advantages of proprietary search
    • Self-funded vs. traditional search

    References and how to contact Brenden:

    • Pacific Lake
    • Bringing Down the House
    • Generational Transfer Entrepreneurs
    • Pro Max Fence Systems
    • LinkedIn

    Overhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:

    • Eversite

    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

    One Year Later: Holdco Grows to $75m in Total Revenue Mar 16, 2023
    Show notes

    Justin Turner returns with details on 2 new acquisitions by his holdco Traction, plus updates on the existing 4 portcos.

    Topics in Justin’s interview:

    • Justin helps run investment firm Traction Capital Partners
    • How Traction is different from Private Equity
    • The risks of buying into a franchise network
    • How he bought one of his vendors
    • Lessons learned from buying 6 businesses
    • Driving sales in a disaster restoration business
    • Doubling revenue in 5 years for a Fire Department supply business
    • Facing the post-Covid economic downturn
    • Rising competition for acquiring a business
    • Trends in the blue and white collar labor market

    Justin's original appears on Acquiring Minds:

    • How to Build a Holdco (4 Acquisitions So Far)

    Links and How to Contact Justin:

    • LinkedIn
    • Twitter
    • Traction CP

    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

    How to Build a Holdco Around Company Culture Mar 13, 2023
    Show notes

    Michael Arrieta's holdco has made 3 acquisitions since 2020. Sales & culture, not tech, have proven to be the key levers.

    Topics in Michael’s interview:

    • How he built the holding company Garden City
    • Why he is drawn to service businesses
    • His experience with fast-growth startups in Silicon Valley
    • How he almost doubled EBITDA in less than a year
    • The mistakes he made with his first acquisition
    • The 3 ways he finds companies to buy
    • How he improves workplace culture in the service industry
    • How Garden City adds value to their companies
    • How to carefully add new technology after acquisition
    • Why he is recruiting searchers to run businesses

    References and how to contact Michael:

    • Michael Arrieta's Twitter
    • Michael Arrieta's LinkedIn
    • Excellence Wins by Horst Schulze
    • Brent Beshore's Twitter
    • Garden City

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

    • More Staffing

    Overhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:

    • Eversite

    Connect with Acquiring Minds:

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

    Honeymoon, Darkness, then Light Mar 09, 2023
    Show notes

    After a rollercoaster year in his appliance repair business, John Schooler returns with scars, wisdom, and optimism.

    Topics in John’s interview:

    • John bought an appliance repair business 14 months ago
    • How he runs a repair business without having repair skills
    • The disaster that took away 20% of revenue overnight
    • Why running a business is harder than a marathon
    • The pros and cons of working with home warranty companies
    • What he would do differently from day one
    • What he learned about retaining employees
    • His role in day-to-day operations
    • His system for training technicians

    John's original appearance on Acquiring Minds:

    • Buying a Business & Having a Blast

    Links and how to contact John:

    • Twitter
    • LinkedIn
    • Appliance Professional
    • Twitter thread mentioned
    • Reg Zeller

    Overhaul your website with ongoing support & unlimited edits, all for a flat monthly fee:

    • Eversite

    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

    Growing a Small 1st Acquisition into a Holdco Platform Mar 06, 2023
    Show notes

    Andrew Hitchings bought a $250k SDE cooling biz. It has grown 3x and will now fund a 2nd acquisition, with more to come.

    Topics in Andrew’s Interview:

    • Andrew and his wife bought a home ventilation business in April 2020
    • How 7 months on a motorcycle prepared them for running a business together
    • His history in the Army, business school, and McKinsey & Company
    • How his business partner Max improved employee training
    • Why he looks at the P&L every day
    • Expanding their seasonal business to a year-round business
    • How they mitigated the risk of buying a business with a single employee
    • Three things a business owner should focus on
    • Why they hire for character, not experience
    • His strategy for building a holdco

    References and how to contact Andrew:

    • LinkedIn
    • His partner: Marcela Fernandez
    • His other partner: Max Williams
    • Colorado Home Services
    • HBR Guide to Buying a Small Business
    • Greg Ambrosia
    • Chenmark

    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 Buy a Neighborhood Institution Mar 02, 2023
    Show notes

    Andrew Sieve saw his life implode after COVID. Buying a highly profitable 40-year-old restaurant turned things around.

    Topics in Andrew’s interview:

    • Andrew’s family history of owning and operating restaurants
    • Why he prefers smaller restaurants
    • The tragedies of 2020 that led to him exiting his family’s business
    • Moving from Minneapolis to Colorado to start over
    • How a chance meeting led to him buying a restaurant
    • How they achieved a smooth transition
    • What factors make restaurants difficult businesses
    • The risks in acquiring an institutional legacy restaurant
    • How he funded his acquisition through a community bank
    • His vision for the next 5 years

    Links and how to contact Andrew:

    • LinkedIn
    • Bigger Pockets Real Estate
    • Bigger Pockets Money

    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

    Previous 1 35 36 37 38 39 50 Next

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