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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:
    When You Buy a Glorified Job, Not a Business Dec 24, 2025
    Show notes

    Tato Corcoran packed a lifetime of learning (and tears) into 18 months when she left tech & bought a tiny manufacturer.

    Topics in Tato’s interview:

    • Connecting with sellers through direct mail
    • Her “Say yes and figure it out later” approach
    • Difficulty in hiring unskilled labor
    • How she solved her labor issue
    • Being a single woman in a male industry
    • Learning Spanish to communicate with her employees
    • Hemorrhaging money the first 8 months
    • Raising prices 40% without losing customers
    • The difference between good growth and bad growth
    • Doubling top line revenue

    References and how to contact Tato:

    • Linkedin
    • tatohomes@gmail.com
    • The direct mail piece Tato used to reach business owners

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

    • From this page or contact mark@aspenhr.com

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

    • Pioneer Capital Advisory

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • 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

    Getting Unstuck by Buying a Business Dec 22, 2025
    Show notes

    The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.

    Topics in Christian’s interview:

    • His front row seat to the 2008 financial crisis
    • Qualities of a top salesperson
    • Business acquisition as a way out of a miserable career
    • Shopping around for an SBA loan
    • Choosing to play to his strengths and outsource his weaknesses
    • Difficulty in hiring for construction
    • Bouncing back and growing after Covid losses
    • Red flags he ignored when acquiring his second business
    • How his finance background benefited him
    • His $100 million goal

    References and how to contact Christian:

    • LinkedIn
    • Resolute Services

    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

    Get a complimentary IT audit of your target business:

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

    Connect with Acquiring Minds:

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

    How to Buy a Generational Brand with $20m in Sales Dec 18, 2025
    Show notes

    Respected consumer brands are not common in lower middle market acquisitions, but Philip Hussey and Chenmark bought one.

    Topics in Philip’s interview:

    • Chenmark’s acquisition of Thomas Moser
    • Leading a furniture business as a non-craftsman
    • Chenmark’s hold-forever intention
    • Wait times for custom, hand-made furniture
    • Long tenure of craftsmen
    • Commitment to world-class quality
    • Getting away from offering discounts
    • Building talent through their woodworker school
    • Running a company with a strong legacy behind it
    • Downside to owning your manufacturing

    References and how to contact Philip:

    • LinkedIn
    • Thos. Moser
    • Chenmark

    Get a complimentary IT audit of your target business:

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

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • 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
    Produced by Pam Cameron


    Reward for 17-Month Deal: $1.8m of EBITDA Dec 15, 2025
    Show notes

    Robert Gayden worked for over a year to buy a home care business. Revenue kept growing but the price remained the same.

    Register for the webinar:

    • What Killed Deals in 2025 - TOMORROW!! - https://bit.ly/44r1pH5

    Topics in Robert’s interview:

    • Influence of his late father
    • The “go bigger” search philosophy
    • Appeal of the home health care industry
    • 17-month acquisition process
    • Choosing to operate “in the weeds” of the business
    • Leading with high expectations
    • Focusing on increasing sales
    • Achieving 15% growth in 8 months
    • Working capital dynamics in home care
    • Investing in employees

    References and how to contact Robert:

    • LinkedIn
    • Aizik Zimerman on Acquiring Minds: Founder Mode for ETA $6m to $25m in 3 Years
    • Morgan McCauley on Acquiring Minds: How to Buy a $2.5m Home Care Business
    • Devin Fitzgerald on Acquiring Minds: Buying $5m of Revenue with $50k of Equity
    • Robert Graham & Aaron Blick on Acquiring Minds: How to Build a Roll-Up to $60m Revenue
    • Jérôme Bouillon on Acquiring Minds: How to Buy & Double a Home Care Agency

    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 mark@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
    Produced by Pam Cameron


    The 7-Year Collapse of an SBA Acquisition Dec 11, 2025
    Show notes

    Scott Duncan endured brutal ups & downs — and personal depression — during his ownership of a doomed tool & die business

    Register for the webinar:

    • How to Model an Investor-Backed Search Acquisition - TODAY! - https://bit.ly/3XysjZB

    Topics in Scott’s interview:

    • Wishing he had listened to his gut
    • The risk of EBITDA (vs. revenue) concentration
    • Managing highly skilled primadonnas
    • Employee theft
    • Losing key employees
    • Long sales cycles and fixed quotes
    • Forced Covid shutdown
    • Razor and blade business model
    • Facing aggressive creditors
    • Filing Chapter 7

    References and how to contact Scott:

    • LinkedIn

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    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 mark@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


    SBA Acquisition to $9m Cash Exit in 5 Years Dec 08, 2025
    Show notes

    Andy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exit

    Register for the webinars:

    • How to Invest In SMBs (Without Buying One Yourself) - TOMORROW!! - https://bit.ly/4rBI4Nb
    • How to Model an Investor-Backed Search Acquisition - Dec 11th - https://bit.ly/4owBkNW

    Topics in Andy’s interview:

    • His experience as an Army intelligence officer
    • When in doubt, do the dirtiest job
    • The military concept of “left seat, right seat” training
    • Searching from the public library
    • Veterans are well-suited to blue-collar leadership
    • Rewards of leading young men
    • Gaining warm leads in new markets
    • His team’s competitive edge
    • Exiting his business to run for mayor of Denver
    • Investing in self-funded searchers

    References and how to contact Andy:

    • LinkedIn
    • Search Fund Secondaries Group
    • Andy’s webinar: Liquidity Options for Search Investors

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

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

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

    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


    ETA Unicorn: $1 Billion in Revenue in 5 Years Dec 04, 2025
    Show notes

    Steve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected.

    Register for the webinars:

    • How to Run the SBA Deal Race - TODAY!! - https://bit.ly/3Xh3WQb
    • How to Invest In SMBs (Without Buying One Yourself) - Dec 9th - https://bit.ly/44Gylv1

    Topics in Steve’s interview:

    • Experience working for WalMart corporate
    • Searching while working full time
    • Myth of passive income
    • Large dead deal costs from a failed acquisition
    • Partnering with his childhood friend
    • Underestimating working capital needs
    • 100-hour weeks away from his family
    • Rapidly scaling through M&A
    • Beware owners who leave quickly
    • Achieving $1 billion in revenue in 5 years

    References and how to contact Steve:

    • LinkedIn
    • Kelso Industries

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

    • From this page or contact mark@aspenhr.com

    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

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • 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
    Produced by Pam Cameron


    Buying for $600k, Selling for $35m Dec 01, 2025
    Show notes

    Jake Bittner bought an unprofitable carve-out doing $3m. A key pivot grew revenue to $20m and got the attention of PE.

    Register for the webinar:

    • How to Run the SBA Deal Race - Dec 4th - https://bit.ly/44whqv6

    Topics in Jake’s interview:

    • Building a nest egg before leaving his job
    • Fallout from his father’s failed businesses
    • Calculating the value of a business losing money
    • Disliking the bureaucracy of large companies
    • Joining his friend to run a distressed company
    • Employee war stories
    • Changing the service they offered
    • Achieving 60% margins
    • Boosting customer retention
    • Selling the company for 11x earnings

    References and how to contact Jake:

    • LinkedIn
    • Mission Support Partners

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

    • Oberle Risk Strategies - Search Fund Team

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

    • Pioneer Capital Advisory

    Get a complimentary IT audit of your target business:

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

    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


    When a $2.8m Acquisition Is More Like Zero-to-One Nov 26, 2025
    Show notes

    Dave Gilbert spent 2 years fixing the model and customer concentration of the $750k SDE family business he bought with SBA debt.

    Topics in Dave’s interview:

    • Leaving tech to buy a white collar business
    • Meeting with 120 owners while searching
    • Buying a business he initially passed on
    • Risks of family members as employees
    • Financial surprises after the transition
    • Losing 23% of revenue when clients left
    • Accountants do not like change
    • Recruiting top talent
    • Importance of listening to employees
    • Transferring his zero-to-one skills

    References and how to contact Dave:

    • Proven
    • LinkedIn

    Get a complimentary IT audit of your target business:

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

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    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
    Produced by Pam Cameron


    When to Buy a Large Consumer Business Nov 24, 2025
    Show notes

    Taylor Mattingly found high-quality revenue in an unusual and sizable B2C business that he happened to be a customer of.

    Topics in Taylor’s interview:

    • Being Co-CEO with his best friend
    • Buying a business he was a customer of
    • Acquiring a business in his hometown
    • Confusing, deregulated Texas energy market
    • How Energy Ogre differs from a typical broker
    • Keeping his call center in Texas
    • “Set it and forget it” model
    • “Listening tour” in the first 100 days
    • Adopting the EOS model
    • Higher leverage deal structure

    References and how to contact Taylor:

    • LinkedIn
    • Energy Ogre

    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 mark@aspenhr.com

    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
    Produced by Pam Cameron


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