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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:
    Investing Like an 1880s Businessman Sep 24, 2021
    Show notes

    Key lessons for acquisition entrepreneurs from Andrew Finn, who has grown a service business & acquired SaaS businesses.

    Themes from Andrew's interview:

    • Opportunity in sub $1m EBITDA businesses
    • SaaS vs. services business
    • Grooming an operator to extract yourself from the business
    • What makes a good SaaS acquisition
    • Your acquisition journey — just start
    • Jumping from labor to capital
    • Capital Camp

    Reach Andrew at:

    • andrew at g64 ventures dot com
    • G64 Ventures

    Official episode page & full show notes at AcquiringMinds.co:

    • Investing Like an 1880s Businessman

    Using Investors to Buy a Business with SBA Sep 21, 2021
    Show notes

    Don't have the 10-20% cash to buy a business with SBA? Search investor Steve Ressler explains how to attract investors & structure the deal.

    Themes from Steve's interview:

    • The 4 flavors of search
    • Choosing the right investors
    • SBA loan math
    • Raising the 10%
    • Buying a business in an industry you don't know
    • Setting investor expectations
    • Common mistakes to avoid

    Reach Steve at:

    • sressler @ gmail
    • @steveressler
    • LinkedIn
    • His newsletter, ETA Musings

    Official episode page & full show notes at AcquiringMinds.co:

    • Using Investors to Buy a Business with SBA

    Growing a Flippa Business to $2 Million Sep 14, 2021
    Show notes

    Sales had dropped to zero when Martin Bispels acquired Upper Park Disc Golf. A year later, they are nearing $2 million.

    Themes from Martin's interview:

    • Buying a business on Flippa
    • What Martin asks himself every day to be a good CEO
    • Criteria used to identify a business to buy
    • Hiring the seller of the business
    • True cost of buying a business
    • Making a detailed plan before acquiring the business
    • Building a team before acquiring the business

    Reach Martin at:

    • martin at upper park disc golf
    • Upper Park Disc Golf

    Official episode page & full show notes at AcquiringMinds.co:

    • Growing a Flippa Business to $2 Million

    How to Build a Portfolio of Micro SaaS Businesses Sep 09, 2021
    Show notes

    Hard-won lessons about buying micro SaaS businesses from Andrew Pierno, who has acquired 3 and plans to buy many more.

    Themes from Andrew's interview:

    • Breakdown of the XO Capital portfolio
    • How to source micro SaaS acquisitions
    • Micro SaaS due diligence
    • Paying for operators
    • The appealing product roadmap of tiny software vs. large
    • Bottlenecks of the tiny model
    • Whether moving upmarket make sense
    • Wins so far
    • MicroAcquire & Flippa

    Reach Andrew at:

    • @AndrewPierno
    • His blog at XO Capital

    Official episode page & full show notes at AcquiringMinds.co:

    • How to Build a Portfolio of Micro SaaS Businesses

    Making a Career of Buying Businesses Sep 06, 2021
    Show notes

    Pete Seligman stepped off a comfortable corporate path to buy a small business in 2013. He's since acquired 4 more.

    Themes from Pete's interview:

    • Why Pete exited the corporate track to acquire a company
    • How risky is acquiring a business?
    • Role of passion when deciding which business to buy
    • Role of industry experience when deciding which business to buy
    • How long it takes to succeed in acquisition entrepreneurship
    • The type of person who should buy a company

    Reach Pete at:

    • LinkedIn
    • His website

    Official episode page & full show notes at AcquiringMinds.co:

    • Making a Career of Buying Businesses

    Buying a $1m Coffee Biz After Years of Starting from Scratch Sep 02, 2021
    Show notes

    After years of struggling to launch products from scratch, Casey Allen pivoted to buy a $1.7m coffee supplies business.

    Themes from Casey's interview:

    • Struggling for years to launch products from scratch
    • The benefits of acquiring a company instead
    • Buying an e-commerce business as COVID sales take off
    • Buying a 24-year-old content site with 12 million annual visitors
    • Content vs. e-commerce
    • Advice for acquirers who have $10k, $50k, or $250k in cash to buy a business

    Reach Casey at:

    • LinkedIn
    • His first acquisition, Barista Warrior
    • His second acquisition, Interactive Mathematics

    Official episode page & full show notes at AcquiringMinds.co:

    • Buying a $1m Coffee Biz After Years of Starting from Scratch

    Top 3 Pitfalls When Buying an Online Business Aug 30, 2021
    Show notes

    Due diligence pro Ahmed Raza on the 3 key things to evaluate when buying a business in e-commerce, SaaS, or content.

    Themes from Ahmed's interview:

    • 3 things to evaluate in an e-commerce business you might buy
    • 3 things to evaluate in a SaaS business you might buy
    • 3 things to evaluate in a content/affiliate business you might buy

    Reach Ahmed at:

    • LinkedIn
    • His firm, Rapid Diligence

    Official episode page & full show notes at AcquiringMinds.co:

    • Top 3 Pitfalls When Buying an Online Business

    Why Plumbing Companies Make Awesome Acquisitions Aug 26, 2021
    Show notes

    Charles Barr just acquired DiMartino Plumbing. He considered HVAC & electrical as well but plumbing was the sweet spot.

    Themes from Charles’ interview:

    • Buying a small business as a path to wealth
    • Why plumbing?
    • Why he decided against HVAC & electrical
    • Numbers on the business & his deal
    • Why he’s getting his plumbing license

    Reach Charles at:

    • LinkedIn
    • His acquisition, DiMartino Plumbing
    • @CapitalistChuck

    Official episode page & full show notes at AcquiringMinds.co:

    • Why Plumbing Companies Make Awesome Acquisitions

    Buying an Online Side Hustle (for Less than $5k) Aug 23, 2021
    Show notes

    Vivian Chen bought an abandoned online business for almost nothing, then grew it to $5k/mo — while keeping her day job.

    Themes from Vivian’s episode:

    • Years of false starts before deciding to acquire
    • Advice to side hustlers
    • Parallels between buying an online business & real estate investing
    • When to go full time
    • Knowing yourself is key to your journey as an acquisition entrepreneur
    • It takes longer than you expect...
    • …so get started

    Reach Vivian at:

    • LinkedIn
    • Modern Innkeeper

    Official episode page & full show notes at AcquiringMinds.co:

    • Buying an Online Side Hustle (for Less than $5k)

    How to Survive Acquiring a $3.5m Flooring Business Aug 19, 2021
    Show notes

    Chris Edwards' first 6 months as new owner has been a “bloody knife fight.” But things are looking up, with the business projected to profit $750k this year.

    Themes from Chris’s interview:

    • Chris’s advice for new owners (be a shock absorber)
    • What made Chris a competitive buyer
    • Solo buyer vs. having a partner
    • How to implement changes as a new owner (hint: slowly)
    • High stress, high stress, high stress…less stress
    • “The worst decision he’d ever made”?

    Reach Chris at:

    • @toph_edwards
    • His flooring company, Affordable Flooring Warehouse

    Official episode page & full show notes at AcquiringMinds.co:

    • How to Survive Acquiring a $3.5m Flooring Business

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