Acquiring Minds

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**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

Latest Episodes:

Acquiring an $8m Distressed E-Commerce Biz Aug 16, 2021

Show notes

Brute Force thrived during COVID, but 2021 hit hard. Sales plunged 60% in one month. Mike Brown bought it to fix it.

Themes from Mike’s interview:

Why Mike was "acquisition curious" and what made him pull the trigger
Betting on yourself
Unsexy local businesses vs. e-commerce
How the iOS privacy updates are affecting e-commerce
How Mike handled sales collapsing 60% from May to June
Adversity making you -- or your business -- stronger (h/t Jocko Willink)

Reach Mike at:

LinkedIn
His e-commerce company, Brute Force

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

Acquiring an $8m Distressed E-Commerce Biz

Buying a $1.2m Fencing Business & Earning Trust Quickly Aug 12, 2021

Show notes

Cassi Niekamp didn't know anything about fencing when she acquired Bowden Fence. But she turned this to her advantage.

Themes from Cassi’s interview:

Bringing a student’s mind to your acquisition
Using vulnerability to earn trust
Doubling production in 60 days
Building rapport with the seller
Buying the first business you see

Reach Cassi at:

LinkedIn
Her company, Bowden Fence

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

Buying a $1.2m Fencing Business & Earning Trust Quickly

Making $100k/mo by Buying Websites Aug 10, 2021

Show notes

Mike Gardon bought websites to be his own boss. His best acquisition does $100k/mo — and he bought it for 5 figures.

Themes from Mike’s interview:

Why buying a website is better than building from scratch
SEO & affiliate websites
Opportunity for smaller buyers of affiliate sites
Thinking about your websites like a financial portfolio
The importance of a foundation business

Reach Mike at:

LinkedIn
His personal website, michaelgardon.com
CareerCloud
Bonus: Quotebook, a project of Mike's he can pursue thanks to the freedom provided by his business

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

Making $100k/mo by Buying Websites

Buy an E-Commerce Business: Tips from an Aggregator Aug 05, 2021

Show notes

5 tactics to boost sales of acquired e-commerce businesses — and other insights from e-commerce aggregator TCM Digital.

Key themes from Golan's interview:

There is still plenty of room for solopreneurs to made good e-commerce acquisitions.
Prices of e-commerce businesses have gone up, but still good value there.
5 tactics TCM uses to quickly boost sales of the e-commerce businesses they acquire.
TCM Digital is an e-commerce aggregator based in Tel Aviv that has acquired 28 e-commerce businesses to date.

Reach Golan Manor at:

LinkedIn
TCM Digital
Hammock Sky and Lens Ball are two of the TCM brands mentioned in the interview.

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

Buy an E-Commerce Business: Tips from an Aggregator

€5m a Year by Acquiring Translation Agencies Aug 03, 2021

Show notes

How an outsider started with little money and bought 12 translation agencies in 6 years, aiming to reach €5m in revenue.

Key themes from Cédric's interview:

Acquired a translation agency in 2015 that was doing about €1.5m annually.
He had little of his own money at that time and took a large loan to make the acquisition happen.
6 years later, he's acquired 11 more agencies and is aiming to reach €5m in annual revenue by the end of 2021.

Reach Cédric Sigoire at:

LinkedIn
His translation agency, DEMAN Translations

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

€5m a Year by Acquiring Translation Agencies

How to Build an E-Commerce Acquisition Company Jul 29, 2021

Show notes

With 6 e-commerce acquisitions and counting, Kelcey Lehrich has built 365 Holdings rapidly over the last 4 years.

Key themes from Kelcey's interview:

E-commerce as a path for acquisition entrepreneurs
Other businesses Kelcey likes for acquisition entrepreneurs
Business-buyer fit
Personal guarantees

Reach Kelcey Lehrich at:

@kelceylehrich
LinkedIn
His e-commerce holding company, 365 Holdings
The 365 EIR Program (+ great article on entrepreneurship through acquisition)

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

How to Build an E-Commerce Acquisition Company

Acquiring a $280k SaaS on MicroAcquire Jul 27, 2021

Show notes

An early buyer on MicroAcquire, Spencer Scott acquired a SaaS for $280k. He analyzed the deal like a rental property.

Key points from Spencer's story:

He wasn't looking seriously for an acquisition but saw an opportunity and grabbed it: Median.
The tech is what impressed him most. He couldn't believe the product was a small indy SaaS built by a couple developers.
Median was selling for about 4x revenue, which was $75k ARR.
Spencer learned the hard way to include teeth in an acquisition letter of intent.

Reach Spencer Scott at:

@AKASpencerScott
Spencer's SaaS acquisition, Median.
LinkedIn

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

Acquiring a $280k SaaS on MicroAcquire

Buy a Septic Business & Make $3m ARR Jul 22, 2021

Show notes

Dan Spracklin acquired a septic pumping business doing $1M annually, then grew it to $3M and margins to 30% in 2 years.

Key points from Dan's story:

Gray Brothers was a septic pumping business founded in 1929, run by Dan Spracklin's father-in-law.
It was generating about $1m per year in revenues from 22,000 customers. Septic pumping companies typically have margins of 10-15%.
Dan & his wife added adjacent septic services to Gray Brothers and improved operations. Within 2 years, they'd pushed revenues to $3m and margins to 30-35%.
Septic pumping is a great lifestyle business for existing owners: low customer churn, high barriers to entry, recession proof.
It's difficult for entrepreneurs to start a new pumping businesses, so best to buy out a retiring owner if you can find one.

Reach Dan Spracklin at:

@DanSpracklin
Gray Brothers, his septic company
SoMax Circular Solutions, the sewage conversion offshoot
LinkedIn

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

Buy a Septic Business & Make $3m ARR

Pivoting to Swag in 7 Acquisitions Over 8 Years Jul 20, 2021

Show notes

Two brothers took over a 110-year-old business in a stagnating industry. 7 acquisitions later, the future is bright.

Key points from Ben's story:

Ben Grossman & his brother pivoted their 110-year-old family business from printing to promotional products.
The strategy was executed by acquisition: 7 of them from 2013 through 2021.
Ben discusses the importance of treating sellers well to build a list of happy sellers that he can show future sellers as a reference.
He explains how he uses suppliers to source leads on potential acquisitions.
He also explains how to effectively work with business brokers.

Reach Ben Grossman at:

Follow Ben on Twitter at @bigrossman.
He also maintains a personal website that lists all of Grossman Marketing Group's acquisitions at bengrossman.info.
LinkedIn

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

Pivoting to Swag in 7 Acquisitions

5 Lessons from Acquiring a $2m Portfolio of Websites Jul 15, 2021

Show notes

How an online entrepreneur teamed with a family office to acquire & grow a portfolio of 15 websites for over $2 million.

Key points from Paul's story:

Paul Lemley teamed with a family office to source, acquire, and grow a portfolio of websites.
They ultimately acquired 15 sites across 3 acquisitions, spending between $2 and $3 million in total.
Paul highlights 5 lessons from this recent foray into the website deal world.

Reach Paul Lemley at:

@palemley
The flagship of his acquisition, RunnerClick.com
LinkedIn

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

5 Lessons from Acquiring a $2m Portfolio of Websites

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