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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:
    Search Success in a Small City: $500k SDE, 95% Recurring Jun 14, 2022
    Show notes

    How James Maxwell & his partner found a 22-year-old janitorial biz & successfully installed a GM in a city of 100,000.

    Themes from James' interview:

    • Searching in a small market
    • Choosing NOT to outsource due diligence
    • Janitorial business pros & cons
    • Partnered search
    • What deal flow looks like in a 100k city
    • Hiring a general manager
    • Does an MBA help with buying a business?
    • Why self-funded over traditional?

    Reach James at:

    • LinkedIn
    • Twitter
    • jmaxwell 814 @ gmail dot com

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

    • Oberle Risk Strategies - Search Fund Team

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

    • What size of business should you buy?

    Connect with Acquiring Minds:

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

    How to Get Good Deals from Brokers Jun 07, 2022
    Show notes

    Business broker Clint Fiore explains how to most effectively work with brokers to find good businesses to buy.

    Themes from Clint's interview:

    • Brokers' pet peeves about acquisition entrepreneurs...
    • ...and how to avoid them
    • Most important thing you communicate to a broker
    • Life cycle of a business for sale
    • Searcher branding
    • The reality of the "silver tsunami"
    • Seller psychology
    • The master skill right now for buying businesses

    Reach Clint at:

    • Twitter
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • What size of business should you buy?

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Clint's newsletter, Probably a Good Deal
    • Texas Business Buyers

    What Searchers Can Learn from Big PE Jun 02, 2022
    Show notes

    Alex Mears draws on years of experience at Carlyle & Blackstone to support and invest in searchers (70 & counting).

    Themes from Alex's interview:

    • The most valuable businesses of all
    • Attractiveness (or not) of home service businesses
    • Seller integrity
    • When to require speaking with key employees
    • Thesis-driven search
    • Search accelerators
    • New accelerator The Brydon Group
    • Alex's pivot to entrepreneurship: why now?

    Reach Alex at:

    • alexander dot mears @ brydon dot com
    • LinkedIn
    • Twitter
    • The Brydon Group
    • Apply to the first cohort here (deadline: June 15th)

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

    • Oberle Risk Strategies - Search Fund Team

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

    • What size of business should you buy?

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Steve Ressler
    • George Dutile
    • Alex's session on Searchfunder: Tutorial: Live Modeling an Example Self-Funded Deal & Key Factors Involved
    • Alex's session on Searchfunder: Modeling for Traditional Search Deals - Intro to Building Financial Models

    How to Buy a Big Business with a Buy-Side Advisor Jun 01, 2022
    Show notes

    Jason Andrews paid $250k to a buy-side advisor to help find & acquire his first business — and would 100% do it again.

    Themes from Jason's interview:

    • Paying a premium for a good business
    • Working with a buy-side advisor: price, value, what they do
    • Speaking to 30 sellers
    • Buying a business in your 40s
    • Taking a big swing
    • Where he invested his time during due diligence
    • Whether he was "buying a job"
    • The consulting agreement he structured with the previous owners
    • Buying big or buying small
    • Going from corporate to small business
    • Pros & cons of group purchasing organizations (GPOs)

    Reach Jason at:

    • @Jandrews707
    • LinkedIn

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

    • Oberle Risk Strategies - Search Fund Team

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

    • What size of business should you buy?

    Connect with Acquiring Minds:

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

    Links & mentions:

    • The DVS Group

    7 Common Mistakes Across 250 Searchers May 23, 2022
    Show notes

    Chelsea Wood has worked with 250+ business buyers & identifies 7 challenges that commonly interfere with their success.

    Themes from Chelsea's interview:

    • The irrational need to be an expert on every part of your acquisition‍
    • Incessant need for more, more, MORE information
    • ‍Good ol' imposter syndrome
    • ‍You don't brand yourself
    • ‍You're too rigid
    • ‍You're too loose, get desperate
    • You don't put in the effort for deal flow

    Reach Chelsea at:

    • chelsea at buythenbuild dot com
    • 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

    Links & mentions:

    • Apply to the Acquisition Lab
    • Buy Then Build Facebook group

    Acquiring a Business in Florida, Living in California May 16, 2022
    Show notes

    How Chris Munn runs his first acquisition, a $800k cleaning business in Tampa, while being based in LA.

    Themes from Chris’s interview:

    • Real estate vs. small business acquisition
    • The importance of getting reps — modeling deals as practice for the real thing
    • Running an acquired business remotely
    • Buying a business that’s too small
    • Being an African-American man and dealing with “pattern matching” from banks
    • How Chris gained 30k followers in six months

    Reach Chris at:

    • On LinkedIn: Chris Munn
    • On Twitter: Chris Munn

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Buy Then Build
    • HBR Guide to Buying a Small Business

    Why Buy a Small Manufacturing Business May 09, 2022
    Show notes

    Ex-cop John Hubbard bought a $5m trailer manufacturing biz from an absentee owner & expects to grow to $12m by 2024.

    Themes from John’s interview:

    • Learning how to run a business, hands-on, before acquiring one
    • Transferring military skills to business acquisition
    • Raising money on Searchfunder.com
    • Asking “dumb questions” to learn quickly
    • Choosing self-funded over a traditional search fund to achieve the lifestyle he wanted
    • Firing half his customers in the first month of ownership
    • Why your search shouldn’t ignore manufacturing businesses

    Reach John at:

    • By email: john at blue cord capital dot com
    • On LinkedIn: John Hubbard

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Express Custom Trailers
    • Blue Cord Capital
    • Sam Rosati on Twitter
    • Searchfunder

    Buying Digital Businesses in 2022 May 02, 2022
    Show notes

    Digital business buyer Dom Wells shares where he looks for opportunities today in the shifting sands of online business.

    Themes from Dom's interview:

    • Affiliate, e-commerce, and SaaS businesses and each one's pros/cons
    • Online course and content businesses
    • Where Dom sees opportunities in digital acquisition
    • How to source deals
    • Leading brokerages of digital businesses
    • Flippa & MicroAcquire
    • How to approach the digital space as an outsider

    Connect with Dom:

    • Twitter: @DomWellsOnfolio
    • LinkedIn: Dominic Wells

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Empire Flippers
    • FE International
    • QuietLight
    • MicroAquire
    • Flippa
    • Onfolio's S-1

    Lessons from a Founder Who Then Started Acquiring Apr 25, 2022
    Show notes

    Mike Loftus started his landscaping business from scratch, then began buying others to accelerate growth to $4m/yr.

    Themes from Mike’s interview:

    • Growing a landscaping business organically from the ground up
    • Acknowledging your weaknesses and handing them off as soon as you can
    • The advantages familiarity with technology bring despite a lack of experience
    • Finding acquisition opportunities through unconventional methods
    • The importance of recurring revenue in landscaping
    • The potential exit opportunities for landscaping owners

    Connect with Mike:

    • Twitter: @signthefronts
    • LinkedIn: Michael Loftus

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Connor's Landscape
    • Building a Blue Collar Empire: Adrian Pinto on Acquiring Minds
    • 7 Years Later: Leaving Wall Street to Buy Small Businesses with Chenmark founders James & Palmer Higgins, on Acquiring Minds
    • How to Buy Landscaping Businesses: Mike Botkin's second appearance on Acquiring Minds
    • How to Buy a Landscaping Biz & Boost Profits Quick: Mike Botkin's first appearance on Acquiring Minds
    • John Wilson on Twitter
    • Mills Snell on Twitter

    Self-Funded Search vs. Traditional Search Funds Apr 18, 2022
    Show notes

    Lively debate between Greg Geronemus & Robert Graham about the 2 most common models searchers use to acquire a business.


    Covered in the debate:

    • Quick definitions of each model
    • How the economics differ
    • Why are traditional search fund terms so fixed?
    • CEO vs. Owner
    • Accountability, governance, boards, mentoring
    • Flexibility & optionality
    • Relative risk of both models
    • Probability of close
    • Probability of success
    • Assembling the board as a self-funded searcher
    • Is either model preferable for particular industry targets?
    • Who is your model not for?

    Connect with the debaters on LinkedIn:

    • Robert Graham
    • Greg Geronemus

    Connect with Acquiring Minds:

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

    Links & mentions:

    • Stanford's 2020 Search Fund Study
    • Robert's investment firm SIG
    • Greg's investment firm Footbridge Partners

    Previous 1 41 42 43 44 45 50 Next

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