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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:
    Too Good to Be True: Year 1 in a $700k SDE Business May 14, 2026
    Show notes

    Zack Mutnik thought he bought a $1.5m electrical contracting business for 2.3x. The numbers weren't what they seemed.

    Register for the webinar:

    • Kill It Early: Spot Red Flags Before Spending on Diligence - TODAY!! - https://bit.ly/4eBVO6E

    Topics in Zack’s interview:

    • Learning leadership in the Navy
    • Managing chaos with ADHD
    • Undisclosed surprises after acquisition
    • Replacing 8/10 employees
    • Heavy emphasis on company culture
    • Deciding to change the business name
    • Training his employees to be independent
    • Growing revenue despite a rocky start
    • Marketing is not a quick fix
    • Finding employees in a rural market

    References and how to contact Zack:

    • TikTok
    • Facebook
    • LinkedIn

    Get a complimentary IT audit for acquisition diligence or post-close transition.

    • Visit inzotechnologies.com/eta.

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact jenny@aspenhr.com

    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

    Edited by Anton Rohozov and produced by Pam Cameron


    How to Structure Around Risk in a $250k SDE Acquisition May 11, 2026
    Show notes

    Alicia Powers wanted to buy a general contractor but understood the risks in such businesses and negotiated accordingly.

    Register for the webinar:

    • Kill It Early: Spot Red Flags Before Spending on Diligence - Thu, May 14 - https://bit.ly/4wqiYU3

    Topics in Alicia’s interview:

    • Air Force construction experience
    • Corporate job at an elevator company
    • Leading a shower remodeling startup
    • Layoff motivated her toward acquisition
    • Why franchising isn’t for her
    • Acquiring a small construction business
    • Getting her general contractor license
    • Specializing in home additions/ADUs
    • Tailwinds in the San Diego area
    • Surprisingly long sales cycle

    References and how to contact Alicia:

    • LinkedIn
    • Price Builders

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

    • The Acquisition Lab

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov and produced by Pam Cameron


    Buying Small to Build for the Long Term ($300k SDE) May 07, 2026
    Show notes

    Brendan Duebner's goal is to build a healthy, long-term business of 20-40 people. Buying a $1.2m MSP was his first step.

    Topics in Brendan’s interview:

    • Learning to lead in the Army
    • Summer internship with Josh Medow
    • Cold calling is unpleasant but effective
    • Living and acquiring in the Bay Area
    • Working in the business before closing
    • Signs of seller integrity
    • 85% seller note with no personal guarantee
    • Implementing EOS himself
    • Choosing to only hire local
    • His mission of building a tribe

    References and how to contact Brendan:

    • LinkedIn
    • IT Total Care
    • Josh Medow on Acquiring Minds: How to Unlock Growth in a 40-Year-Old Business You Buy
    • Abhi Ravishankar on Acquiring Minds: The $50m Lifestyle Holdco

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

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

    • Oberle Risk Strategies - Search Fund Team

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact jenny@aspenhr.com

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov and produced by Pam Cameron


    A $800k Business to Start, $60m Portfolio Today May 04, 2026
    Show notes

    Andrew Blazenko has made 6 acquisitions over the last ten years. Pairing businesses with operators is key to his model.

    Topics in Andrew’s interview:

    • Background as a business broker
    • Wanted the exit joy for himself
    • Danger of low barrier to entry
    • Finding great operators to run his businesses
    • Business acquisition requires reps
    • Executive in Residence program
    • Requiring operators to invest in the business
    • Difficulty of raising equity in Canada
    • Shipping costs as a natural moat
    • Living as a “gentleman of leisure”

    References and how to contact Andrew:

    • LinkedIn
    • ProSafe
    • Eterna Equity
    • TrueFoam

    The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

    • The Acquisition Lab

    Get a complimentary IT audit for acquisition diligence or post-close transition.

    • Visit inzotechnologies.com/eta.

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov and produced by Pam Cameron


    Buying Then Losing a $2.1m HVAC Business Apr 30, 2026
    Show notes

    Dan Burnside thought he got a great deal on an $800k SDE business. Instead he'd bought bad faith and years of struggle.

    Register for the webinar:

    • Add-Ons and Carve-Outs: How to Get Banks on Board - TODAY!! - https://bit.ly/4sO0MAt

    Topics in Dan’s interview:

    • Buying in a small, rural area
    • Discovering seller fraud after acquisition
    • Key employee leaves and starts competing business
    • Working to integrate himself into the community
    • HVAC techs resisted technology changes
    • Wife and kids unhappy in the new place
    • Getting his Master Mechanical Contractor license
    • Customers not paying their invoices
    • Hiring challenges in rural areas
    • Bankruptcy and his new AI venture

    References and how to contact Dan:

    • LinkedIn
    • Jan Roll on Acquiring Minds: 21 Months to Stability Buying a $1.2m SDE Business

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

    • Oberle Risk Strategies - Search Fund Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

    • 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

    Edited by Anton Rohozov and produced by Pam Cameron


    From $1m to $25m in 6 Years Apr 27, 2026
    Show notes

    Jeff Flannery is a great example of how franchising complements ETA, having rolled up 17 units since starting in 2019.

    Register for the webinars:

    • Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - TOMORROW!! - https://bit.ly/4u9KyD6
    • Add-Ons and Carve-Outs: How to Get Banks on Board - Thu, Apr 30 - https://bit.ly/3OpzRgx

    Topics in Jeff’s interview:

    • Difference between a practice and a business
    • 18 years of running a procurement recruiting firm
    • Acquiring a failing Hand and Stone location
    • Improving the franchisee playbook
    • Ask franchisees for the actual profit margins
    • Mastering the business from the bottom up
    • Working 100-hour weeks for years
    • Implementing enrollment fees
    • Running spas in California through Covid
    • Building an inbound and outbound offshore call center

    References and how to contact Jeff:

    • LinkedIn
    • jflannery@purpleeaglespas.com
    • Hand & Stone

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact jenny@aspenhr.com

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Get a complimentary IT audit for acquisition diligence or post-close transition.

    • Visit inzotechnologies.com/eta.

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov and produced by Pam Cameron


    The Searchers Building a $10m EBITDA Powerhouse Apr 23, 2026
    Show notes

    Nicolás Lulli bought a document storage business in Peru. 6 years later, it is a $25m leader in the Andean region.

    Register for the webinar:

    • Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - Tue, Apr 28 - https://bit.ly/490Ms0q

    Topics in Nicolás’s interview:

    • First employee at Relay Investments search fund
    • Launched Peru’s first search fund, Colca Capital
    • Covid lockdowns erased profits almost overnight
    • Rebuilding the business into a tight submarine
    • From $0 EBITDA to $5m in one year
    • Shifted focus toward acquisitions for faster growth
    • Records storage is a real estate business
    • Invests in other searchers to pay it forward
    • The cradle-to-grave strategy in records management
    • Building a searcher community in Peru

    References and how to contact Nicolás:

    • LinkedIn
    • Colca Capital

    Get a complimentary IT audit for acquisition diligence or post-close transition.

    • Visit inzotechnologies.com/eta.

    The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

    • The Acquisition Lab

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov and produced by Pam Cameron


    Buying a $40m Business as a 49-Year-Old First-Timer Apr 20, 2026
    Show notes

    Greg Hirsch wants more seasoned professionals to understand how valuable their experience can be to an ETA journey.

    Topics in Greg’s interview:

    • Fifteen years learning systems at Sysco Foods
    • Failed startup revealed builder, not founder path
    • Helped scale trucking roll-up through industry consolidation
    • Revisiting his “heck no” pile
    • Invests in timeless blue-collar essential industries
    • Late-40s searches benefit from life experience
    • Spouse alignment essential before risking family security
    • His wife’s perspective on the process
    • Growth comes from removing operational friction
    • His wife’s perspective on the process

    References and how to contact Greg:

    • LinkedIn
    • Hirsch Ventures

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact jenny@aspenhr.com

    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

    Edited by Anton Rohozov and produced by Pam Cameron


    How Business-Buyer Fit Led to 2.2x and No PG Apr 16, 2026
    Show notes

    Thanks to strong business-buyer fit, Joe Wynn negotiated great terms to acquire a $600k SDE sales & service business.

    Register for the webinar:

    • Real Estate Issues When Buying a Business - TODAY!! - https://bit.ly/4smYdoQ

    Topics in Joseph’s interview:

    • Trading a mid–six-figure salary for business ownership
    • Wanting to “build his own ladder” instead of climbing someone else’s
    • Buying a medical equipment distribution and service company
    • Designing and outfitting hospital operating rooms
    • 45% net margins on $2M in revenue
    • Raising service prices 20–50% in his first six weeks
    • Navigating “lumpy” project-based revenue cycles
    • Structuring a $1.35M deal with seller financing
    • Putting only $120K down with no personal guarantee
    • A post-closing banking freeze that forced him to cover payroll

    References and how to contact Joseph:

    • LinkedIn
    • Surgical Specialties of Georgia
    • Iris Levine on Acquiring Minds: $6m Business, 3 Minutes From Childhood Home
    • Brian Hartman on Acquiring Minds: The Path from $2.5m to $60m in a Tree Business

    The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:

    • The Acquisition Lab

    Get a complimentary IT audit of your target business:

    • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

    Download the New CEO’s Guide to Human Resources from Aspen HR:

    • From this page or contact jenny@aspenhr.com

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Buying a Business to Balance Ambition and Kids Apr 13, 2026
    Show notes

    Constrained in her job and seeking more time for her kids, Ana Lia Barragan bought a $385k/yr, 30-year-old business.

    Register for the webinars:

    • Your First Finance Hires After Buying a Business - TOMORROW!! - https://bit.ly/3OvsNic
    • Real Estate Issues When Buying a Business - Thu, Apr 16 - https://bit.ly/3PYIhf8

    Topics in Ana Lia’s interview:

    • Wanted flexibility while raising two young children
    • Hit promotion ceiling in corporate tech ladder
    • Joined Beta Accelerator, buying businesses training program
    • Treat LOIs like conversations, not commitments
    • DIY diligence first to avoid costly mistakes
    • SBA rule changes complicated future acquisition financing
    • Recurring revenue lower than seller originally claimed
    • Lost major client after leadership cost-cutting shift
    • Built custom AI app for operations tracking
    • Bought a job first, business later

    References and how to contact Ana Lia:

    • LinkedIn
    • Kelly Green
    • Ana Lia’s LinkedIn post on how the new SBA rules affect her
    • Ana Lia’s LinkedIn post on the pre- and post-closing gap in understanding her business
    • Gabe Perez on Acquiring Minds: One Couple, 4 Kids, and a Business 3 Hours Away
    • Darryl Lindie on Acquiring Minds: Hard but Fun: Transitioning a 77-Year-Old Business
    • Nick Haschka on Acquiring Minds: How One Small Acquisition Led to 9 More in 5 Years

    Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

    • Pioneer Capital Advisory

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

    • Oberle Risk Strategies - Search Fund Team

    Get a free review of your books & financial ops from System Six (a $500 value):

    • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

    Connect with Acquiring Minds:

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

    Edited by Anton Rohozov
    Produced by Pam Cameron


    Previous 1 3 4 5 6 7 50 Next

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