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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:
    Flower Power: Buying a Rose Distributor Primed for Growth Aug 09, 2022
    Show notes

    Jason Cline left corporate at age 50 to buy a flower distribution business (in cash). SDE is up 3x after just one year.

    Topics in Jason's interview:

    • Pivoting from 20+ years in corporate to SMB ownership
    • 3 criteria for what business to buy
    • Buying a business in cash (no SBA loan)
    • The business of flower distribution
    • Selling to big retailers like 7-Eleven & Circle K
    • How to detect growth potential in a distribution business
    • 2 ways to retain drivers in distribution/route businesses
    • Distribution businesses are really car businesses
    • Scan-based trading
    • 2 key techniques Jason used to transition successfully into the business
    • Working "in" the business for the first 6 months
    • Testing changes
    • The numbers behind flower distribution
    • Ideal size of SDE for target business
    • What's more important than SDE
    • Jason's growth since acquisition and plans for expansion

    Reach Jason at:

    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    A Brutal Search Rewarded with Success After 3+ Years Aug 02, 2022
    Show notes

    Jordan Carter started as a part-time, generalist searcher. 3+ years later, he bought a biz doing $2.4m with 40% margins.

    Topics in Jordan's interview:

    • Part-time vs. full-time searching
    • Consulting in order to generate income while searching
    • Misconceptions about how easy it is to find a business to buy
    • How much cash Jordan saved for his self-funded search
    • Generalist vs. industry-specific search
    • Using interns for search
    • Value of speaking with owners (even if they don't want to sell)
    • Optimal percentage of time to devote to deal sourcing
    • Accessing equity capital
    • Adding value to a super niche business you're completely new to
    • Growing a business 40% in 2 years after acquisition
    • Buying a grant-writing business
    • The pain of losing an LOI

    Reach Jordan at:

    • @jordanpcarter
    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • B&A Grant Services & Software
    • Search Investment Group
    • Episode 41, featuring Jordan and partner Robert Graham at SIG: The Argument for Self-Funded Search

    Buy a SaaS Business in 2022: How to Compete in a Hot Market Jul 26, 2022
    Show notes

    A deep-dive into the market for SaaS businesses with Thomas Smale, founder of leading SaaS brokerage FE International.

    Topics in Thomas's interview:

    • Pros & cons of SaaS
    • SaaS valuations
    • SaaS vs. ecommerce
    • Competing with private equity for SaaS deals
    • Using an SBA loan to buy a SaaS business
    • Micro-SaaS
    • First-time buyers doing a career pivot by acquiring a business
    • Most common mistake among first-time buyers
    • Passive nature of online businesses
    • SaaS products unlikely to go zero?
    • Acquisition strategy: converting on-premise software to cloud
    • Proprietary outreach to find SaaS sellers
    • How economic climate is affecting SaaS valuations & multiples
    • Ecommerce valuations & multiples
    • Young ecommerce businesses - dangerous?
    • Advice for first-timer buyers

    Reach Thomas at:

    • @ThomasSmale
    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • FE International

    Leaving Apple to Buy a Real Estate Business with 150+ Agents Jul 19, 2022
    Show notes

    Kinza Azmat arrived in the US at age 6, speaking little English. Today she's the new owner of a thriving RE brokerage.

    Topics from Kinza's interview:

    • Becoming a business broker to learn acquisition & access deal flow
    • Thinking that finding a business to buy would be easy
    • How business brokerages generate deal flow
    • Financial & location criteria of her search
    • Unlocking deal flow by expanding geographic criteria
    • Dealing with gender, racial, and other biases in sellers
    • Tying seller note to business performance
    • The business of apartment locators
    • Competitive moats for apartment locators
    • Rebranding
    • Small business owner life vs. corporate cog life
    • Getting your spouse on board
    • Pregnant as a new owner
    • Type D and Type F reorganization
    • Following (and breaking) the Asian-American pattern
    • America as land of opportunity

    Reach Kinza at:

    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • WTA Realty

    7 Findings from the New Data on Self-Funded Searches Jul 15, 2022
    Show notes

    Lisa Forrest shares key findings from a survey of 49 entrepreneurs who bought a business after a self-funded search.

    The findings discussed were based on these questions:

    • How did you find your deal?
    • Did you conduct a full-time search?
    • How long did you search before you found the deal you closed on?
    • Do you think your acquisition price valuation was fair?
    • How long did it take you to discuss valuation with the seller?
    • Did you have a competitive deal process where multiple buyers were vying for the LOI?
    • What do you think the critical success factors were in sourcing and closing your deal?
    • Did you go up or down market compared to your original expectations?

    Reach Lisa at:

    • lisa DOT forrest AT liveoak DOT bank
    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • The report will be published at Live Oak Bank's search fund resources page... but not for 2 weeks.
    • If you can't wait, email Lisa at the address above👆 and she'll get you the raw data now.

    Why Chenmark Bought a Boat Tour Business Jul 12, 2022
    Show notes

    Seasonal. Nonrecurring. Key person risk. Trish Higgins recounts how Chenmark got excited about an unlikely acquisition.

    Topics in Trish's interview:

    • Building a holdco versus taking a job in private equity
    • What Chenmark does, why it's special
    • Chenmark's founders' goals: impact, interestingness, financial
    • Why isn't the holdco model taught in business schools?
    • The story of Cap'n Fish Cruises
    • Unit economics of a boat tour business
    • Is seasonality really so bad?
    • Managing seasonality
    • Are boat tour businesses attractive generally?
    • Finding differentiation in a crowded industry
    • Bait & tackle shop framework
    • Chenmark's second boat tour acquisition
    • How Chenmark approaches learning an industry where they've acquired a business

    Reach Trish at:

    • trish AT chenmark DOT com
    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • Cap'n Fish's Cruises
    • Subscribe to Chenmark's Weekly Thoughts
    • Episode 55, featuring the other Chenmark co-founders: 7 Years Later: Leaving Wall Street to Buy Small Businesses
    • Episode 64, featuring Trish: How & When to Make Changes at Your Acquisition

    The Weird & Wonderful World of Vending Jul 06, 2022
    Show notes

    Ujwal Velagapudi acquired a multimillion dollar vending empire with thousands of machines & 7 figures of cash flow.

    Themes from Ujwal's interview:

    • Big vending businesses vs. small
    • Building a big vending business by acquiring small routes
    • Economics of vending
    • Logistics of vending
    • Tiny acquisitions to build confidence & experience
    • Differentiating yourself as a buyer on MicroAcquire
    • Using phantom equity to hire general manager
    • Benefiting from OnlyFans growth
    • Working with a dishonest seller
    • Buying an online business
    • Buying an FBA business
    • Buying a small gym
    • Buying a historic neighborhood sports bar
    • Buying downmarket commercial real estate
    • Using Craigslist for acquisition of businesses & real estate

    Reach Ujwal at:

    • @UjwalVelagapudi
    • LinkedIn

    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:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • Byron

    Don't Be Tempted: 8 Signs of a Bad Business Jun 28, 2022
    Show notes

    A lender and a searcher explain how to quickly identify a business you should NOT buy, saving you months of wasted time.

    Themes from Ryan & Heather's interview:

    • Killer #1: Valuation
    • Killer #2: Stupid Margins
    • Killer #3: Going Too Small
    • Killer #4: Bolt-on vs. Platform
    • Killer #5: Competing with Private Equity
    • Killer #6: Geography
    • Killer #7: Red Flags
    • Killer #8: Needs to Support Leverage

    Links & mentions:

    • 15 Time Killers in SMB Search - full document from Live Oak
    • All of Live Oak Bank's search fund resources

    Reach Ryan at:

    • @smbquest
    • LinkedIn

    Reach Heather at:

    • @EndresenHeather
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    How to Acquire & Grow an FBA Business Jun 21, 2022
    Show notes

    Alex Michael bought a wallet brand doing $650k on Amazon. Alex delves into how FBA works & what the growth levers are.

    Themes from Alex's interview:

    • Why ecommerce?
    • Difficulty competing to buy an ecommerce business
    • Process of a ecommerce acquisition with a Quiet Light listing
    • Anatomy of the first call with a seller
    • How to be a good buyer
    • What to say to a seller in a competitive environment
    • Diligencing an ecommerce business
    • Cost breakdown of an FBA business
    • Supply chain risk in ecommerce
    • Promoting an FBA business on Amazon
    • Amazon's PPC flywheel
    • ACoS and TACoS
    • Daily ad spend, net margins, revenue, SDE
    • Platform risk with FBA businesses
    • Adding a Shopify store to diversify distribution

    Reach Alex at:

    • LinkedIn

    **** Register here for the live session with Chelsea Wood of the Acquisition Lab:

    • What size of business should you buy?

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

    • Oberle Risk Strategies - Search Fund Team

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • Wallaroo Wallets
    • Centurica
    • Quiet Light
    • Stephen Speer and eCommerce Lending

    Good News for Ecommerce Buyers Jun 20, 2022
    Show notes

    Multiples for ecom businesses jumped 50% since 2018, but Quiet Light's Joe Valley says that trend is about to reverse.

    Themes from Joe's interview:

    • The ecommerce buying mania of 2021
    • 2 pieces of advice for acquisition entrepreneurs looking at ecommerce
    • How ecommerce multiples will change
    • How ecommerce deal terms will change
    • Seller financing in ecommerce
    • Future of the ecommerce aggregators
    • History of the ecommerce aggregators

    Reach Joe at:

    • LinkedIn
    • joe at quiet light dot com

    **** Register here for the live session with Chelsea Wood of the Acquisition Lab:

    • What size of business should you buy?

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

    • Oberle Risk Strategies - Search Fund Team

    Connect with Acquiring Minds:

    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter

    Links & mentions:

    • Download Joe's book The Exitpreneur's Playbook
    • Subscribe to Quiet Light listings
    • Subscribe to new listing alerts from Centurica
    • Thrasio
    • Carlos Cashman of Thrasio
    • Profound Commerce
    • Syed Balkhi
    • Ramon Van Meer
    • Walker Deibel

    Previous 1 40 41 42 43 44 50 Next

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