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    Business

    Acquisitions Anonymous – #1 for business buying, selling and operating

    Jump into the world of business acquisitions with hosts Bill D’Alessandro, Mills Snell, Heather Endresen, and Michael Girdley. 

    We review real businesses for sale in each episode, providing expert insights, strategies, and tips to make savvy business moves like the pros. Perfect for entrepreneurs, investors, and anyone interested in buying and selling businesses.

    Advertise

    Copyright: © 2022 Acquisitions Anonymous - Learn business as we review businesses for sale

    • Apple Podcasts
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    • Spotify

    Latest Episodes:
    Insurance Broker Secrets for Business Buying - Tom Gilroy - Acquisitions Anonymous Episode 98 May 27, 2022
    Show notes

    Michael Girdley (@Girdley) is joined by Tom Gilroy (@TomG_GKG) to talk about insurance. We talked about the role of an insurance broker, how to be proactive and minimize claims and risks, how to structure a deal, the different types of insurance you should be looking at, and much more.

    -----
    Thanks to our sponsors!

    MicroAcquire is the #1 startup acquisition marketplace. It is simply the most efficient way to buy and sell startups when you’re ready to make your next move.
    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    -----

    Show Notes:

    (00:00) - Intro
    (1:09) - Microacquire
    (3:02) - Tom Gilroy Insurance Broker

    (4:35) - Insurance Broker vs Insurance Carrier: What should I expect from each?

    (6:22) - When do I need to call someone to assess me on Insurance?

    (8:15) - What should a buyer expect from an insurance broker as a customer? How does the process work?

    (12:05) - How do you interact with the lawyer and the buyer?

    (14:20) - Let’s talk about gap analysis: What are the major areas you’ll be looking at?

    (16:44) - Best practices to minimize claims? Can you find out which losses have occurred?

    (20:48) - How does special insurance work?

    (22:47) - The rating review: Why do sellers lose money and how could they avoid it?

    (25:06) - Walk us through insurance fraud, risks & examples.

    (30:00) - How does the universe of insurance brokers work? How can I find a good broker?

    (32:40) - Is geographic location important? Is size important? How?

    (36:10) - Representation & Warranty Insurance: How does it work & who is it helpful for?

    (43:01) - Connect with Tom

    -----

    Links:

    * https://gkgrisk.com/

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #96 From W-2 to Business Owner - Patrick Dichter tells us how to cold reach seller and we discuss 2 Deals

    #92 Wait... what? You laid-off 90% of your staff?!? - Pete Erickson joined us for an exciting WarStories episode!

    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin

    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    There are 3 things that matter for Laundromats! Codie Sanchez joins us to analyze 2 Deals - Acquisitions Anonymous Episode 97 May 24, 2022
    Show notes

    Want to receive this listing in your inbox? Signup for our weekly newsletter:
    https://landing-newsletter.acquanon.com/
    -----
    Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) are joined by Codie Sanchez (@Codie_Sanchez) to discuss 2 awesome deals: A Coin Laundromat & an accounting practice. We dig into the Laundromat business: valuing assets, operations insights, and what to look for. What makes a good or a bad CPA deal? What is the segmentation around this kind of firm?
    Tune in!
    -----
    Thanks to our sponsors!

    * CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.
    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    -----

    Show Notes:

    (01:00) - Cloudbookkeeping.com
    (02:29) - Codie Sanchez Intro
    (06:00) - What does your portfolio look like today?
    (12:08) - Deal 1: High Volume Coin Laundromat for Sale
    (14:58) - What do we think about it? Is the RE included package relevant?
    (19:22) - What is the typical lifespan of one of these machines? How do we understand its value?
    (20:56) - The 3 important things to look for in a Laundromat Deal
    (21:42) - How can we forecast repair costs?
    (25:29) - Are we going to find distressed companies for sale?
    (28:47) - Can you raise prices? Where can you outcompete other players?
    (34:05) - Do we like it? How can we make it work?
    (39:10) - Deal 2: An accounting firm for sale
    (42:06) - What do we think about it?
    (46:04) - What is the segmentation around these kinds of firms?
    (48:40) - What should you ask yourself before buying this business?

    -----

    Links:

    * https://contrarianthinking.co
    * https://unconventionalacquisitions.com/
    * https://www.youtube.com/channel/UC5fI3kxC-ewZ6ZXEYgznM7g

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #86 Rocketship your business with... Twitter?! - JK Molina gives a Twitter Masterclass
    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    From W-2 to Business Owner - Acquisitions Anonymous Episode 96 May 20, 2022
    Show notes

    Want to receive this listing in your inbox? Signup for our weekly newsletter:
    https://landing-newsletter.acquanon.com/

    -----
    Michael Girdley (@Girdley) is joined by Patrick Dichter (@patrickdichter) to talk about how he went from working in sales to acquiring his own accounting firm. We talked about 2 deals, a cloud accounting firm and a marketing company. Patrick used e-mail cold reaches during his search and shares his process to maximize outreach, why he decided on an accounting firm, and more.
    -----
    Thanks to our sponsors!

    MicroAcquire is the #1 startup acquisition marketplace. It is simply the most efficient way to buy and sell startups when you’re ready to make your next move.
    -----
    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.
    -----
    Show Notes:

    0:50 - Microacquire
    2:48 - Intro - Patrick Dichter
    4:34 - Why did you transition from a W-2 employee to a searcher?
    6:17 - How was your search process?
    7:31 - What was your strategy to find a deal
    8:38 - Who is running the operation today?
    9:45 - How to cold reach potential sellers through e-mail? - Applying sales experience to a search
    11:16 - What would you do differently to improve your response rate?
    12:34 - Deal 1: A cloud bookkeeping accounting firm
    15:07 - What’s interesting about this Deal?
    17:12 - What are profit margins typically for these companies?
    18:43 - How do you think about the cyclicality of start-ups as a customer?
    19:59 - Yellow flags on this deal
    23:41 - How do we think about different accounting firms and their services?
    26:20 - How would you grow this business? What barriers do you see? Would you recruit overseas talent?
    30:06 - Could we raise prices? Does this apply for an SBA Loan?
    32:06 - Any other considerations? What about revenue mix & seasonality on the cash flows?
    36:24 - Deal 2: Niche Digital Marketing Agency
    39:27 - What is their business model? What would make it interesting?
    41:44 - What happens with labor retention in these companies?
    43:50 - Financials, growth concerns & due diligence focus
    46:59 - How is the business-customer relationship on this Deal?
    48:53 - Why is this so pricey? How would we structure this financially?
    52:33 - Connect with Patrick

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #86 Rocketship your business with... Twitter?! - JK Molina gives a Twitter Masterclass
    #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin
    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Scaling Up - More brains, more cash, more momentum... more problems?! - Acquisitions Anonymous Episode 95 May 17, 2022
    Show notes

    Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) are joined by Kevin Lawrence and Brad Giles to talk about the Scaling Up methodology. We talk about:
    What is Scaling up? What business is it useful for? Scaling Up vs. EOS, What is the role of a CEO? How to hire a CEO?
    -----
    Thanks to our sponsors!

    * CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

    -----
    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.
    -----

    Show Notes:

    2:25 - Brad Giles & Kevin Lawrence Introduction
    3:48 - What is Scaling Up?
    6:18 - What business would benefit from the Scaling Up Framework?
    10:00 - What kind of home-baked systems have you seen?
    12:07 - The four decisions in Scaling-Up
    14:25 - What are the pain points for an entrepreneur that makes a Business Owner search for an applicable system?
    19:25 - What is the secret weapon of Scaling Up?
    27:53 - What are predictable issues of Scaling?
    33:24 - How do I know if I’m not scaling?
    38:00 - The problem with autocratic leadership
    42:22 - How do you hire a CEO?

    -----

    Links:

    * Brad & Kevin’s Podcast ‘The Growth Whisperers’

    * Kevin's book Your oxygen mask first - The importance of CEOs

    * Made to Thrive - The five roles of a CEO
    * https://lawrenceandco.com/

    * https://evolutionpartners.com.au/

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #90 Move over Elon - Here's what we'd do if we acquired Twitter

    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #86 Rocketship your business with... Twitter?! - JK Molina gives a Twitter Masterclass

    Additional episodes you might enjoy:

    #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin

    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Searching with a thesis with search fund investor Steve Ressler - Acquisitions Anonymous Episode 94 May 13, 2022
    Show notes

    Michael Girdley (@Girdley) & Bill D’Alessandro (@BillDA), are joined by Steve Ressler (@steveressler) to talk about best practices when running a search, his search fund The Brydon Group, buying opportunities in the SMB space, what do the best search funders do, top CEO’s skills, and more.

    -----

    Thanks to our sponsors:

    * https://Cloudbookkeeping.com - Cloudbookkeeping specializes in bookkeeping solutions for everyone from start-ups to mature businesses. Check them out & mention our podcast.

    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    -----
    Show Notes:

    (01:09) - Cloudbookkeeping.com
    (2:20) - What do the more intelligent search funders do to pitch you?
    (4:14) - What are good reasons to do a search fund?
    (6:24) - How would you segment the search fund prototype?
    (8:29) - How can you tell if a senior executive will be an operative one?
    (11:22) - What do you look for in a searcher?
    (14:14) - Tell us about the Brydon Group and what you’re doing
    (19:40) - What’s the profile you look for? What type of deals do you look for?
    (21:40) - How do you structure deals? What about the financing?
    (25:08) - How do you think about debt for this kind of search? How does the equity side work?
    (28:34) - What do you look for in a searcher?
    (33:52) - Why do you go for $2 to $5 MM EBITDA range deals?
    (36:47) - Where are the winds blowing in the private markets?
    (38:45) - Do you think that Covid put pressure on the sellers, burnout syndrome, that kind of stuff?
    (42:04) - What are the craziest things you’ve seen from searchers?
    -----
    Links:
    * https://www.linkedin.com/in/ressler/
    * https://www.brydon.com/for-searchers
    * steve@brydon.com
    -----
    Additional episodes you might enjoy:

    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #86 Rocketship your business with... Twitter?! - JK Molina gives a Twitter Masterclass
    #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin
    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Deal talk with first-time searcher Brock Briggs - Acquisitions Anonymous Episode 93 May 10, 2022
    Show notes

    Mills Snell (@thegeneralmills) is joined by Brock Briggs (@BrockHBriggs), first-time searcher, to talk about 2 deals: A Florist company and a FedEx P&D Routes one. We talk about: operational aspects, financial modeling considerations, the trade-off of bringing a Limited Partner in, separating real estate from a business: when should you do it and how to limit your exposure as a buyer, and much more.

    -----
    Thanks to our sponsors!

    MicroAcquire is the #1 startup acquisition marketplace. It is simply the most efficient way to buy and sell startups when you’re ready to make your next move.

    -----
    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.
    -----
    Show Notes:

    1:27 Microacquire
    3:20 Brock’s background
    5:08 What are you searching for Brock? Where are you in your search process?
    6:48 Deal 1: A massive Florist for sale in CT
    10:00 What do we think about this one?
    12:14 What’s the potential upside from this deal? Where’s the ceiling? How does size relate to growth opportunities?
    15:40 How should we think about the Customer Acquisition funnel? What should we consider from an operational side?
    18:01 Don’t assume growth opportunities to be low-hanging fruits
    20:07 How do we think about weddings as a revenue segment? What should we consider on the operational side?
    24:40 Thoughts on seasonality and part-time labor hiring
    28:28 Let’s talk about financing: How do we think about bringing a Limited Partner to your first deal? What collateral could you consider lending against?
    34:27 Real estate and business. Should you keep them together or separate them? What other options are there for the buyer?
    42:02 Deal 2: FedEx P&D Routes
    46:45 What did you like about this one?
    49:34 Operational considerations, what should we ask the seller? What debt are we assuming in this deal? What is the impact on the listing price?
    54:17 Is it an owner-operator kind of business? What should we dig into from an operational perspective? What are growth opportunities?
    56:56 Macro perspective thoughts? Why would I take on a business that FedEx refuses to operate?
    1:00:25 How do first-time buyers can get comfortable with the risk of things going south?

    -----

    Links:

    * Scuttlebuck Podcast

    * http://Twitter.com/BrockHBriggs

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #90 Move over Elon - Here's what we'd do if we acquired Twitter

    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #86 Rocketship your business with... Twitter?! - JK Molina joins for a Twitter Masterclass

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Wait... what? You laid-off 90% of your staff?!? - Acquisitions Anonymous Episode 92 May 05, 2022
    Show notes

    Bill D’Alessandro (@BillDA) hosts this incredible episode with special guest Peter Erickson (@smbpete). Pete walks us through his incredible journey, starting as an apprentice in the physical therapy business, going through his transition into a business owner, leadership challenges, layoffs, getting things thrown at him, overcoming disease to returning to a lost business, buying mistakes & what he’d do differently.

    This is a packed episode, buckle up!

    -----
    Thanks to our sponsors:
    * https://Cloudbookkeeping.com - Cloudbookkeeping specializes in bookkeeping solutions for everyone from start-ups to mature businesses. Check them out & mention our podcast.
    -----
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.
    -----
    Show Notes:
    0:48 Cloudbookkeeping.com
    1:59 Pete Erickson - The Summit Physical Therapy, CEO
    3:34 Transitioning from employee to owner. How did you finance your acquisition?
    4:24 You bought a Clinic. What happened next?
    5:45 Let's dig into those pushbacks, why were they so pissed off? How did you handle the situation?
    7:03 You mentioned maintaining people that weren't culturally fit for too long, what happened?
    10:42 Wait what? You laid off 90% of the staff?!?
    13:02 How does a captain handle a mutiny on the ship?
    15:48 Buying too small & buying a job: What did you learn about the business size that you're going to buy?
    17:56 One of the huge traps of buying a business
    19:31 How to avoid a confusing marketing message?
    22:24 Growing and developing team members: When should you do it in-house and when should you invest in training? - Peter Principle
    24:48 How do you build processes and systems that help people to be autonomous?
    -----
    Links:
    * https://www.thesummitpt.com/physicaltherapy
    * Connect with Pete
    -----
    Additional episodes you might enjoy:
    #90 Move over Elon - Here's what we'd do if we acquired Twitter
    #87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
    #86 Rocketship your business with... Twitter?! - JK Molina gives a Twitter Masterclass
    Additional episodes you might enjoy:
    #79 What do Investors want? - Dig into an investor’s mind with Bradford Hardin
    #75 SBA Loan Secrets with Heather Endresen, expertise from a Billion-Dollar Loaner

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Retention rates that withstand hurricanes! 2 vacation property management deals with Mike Harrington - Acquisitions Anonymous Episode 91 May 03, 2022
    Show notes

    Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) are joined by Mike Harrington (@MHarringtonNC) to talk about vacation rental management businesses, the industry, 2 Deals, the best criteria to choose a market, operation specifics, and more.

    -----

    Thanks to our sponsor!

    Fleetio's suite of cloud-and mobile-based fleet management solutions enables fleets of all sizes to automate fleet operations and manage asset lifecycles. Users can instantly access and update data regarding planned and unplanned maintenance, fuel, inspections, parts, and much more. It also improves communication and streamlines issue resolution with its mobile app, email notifications, and reminders. Fleetio integrates with telematics solutions for automated odometer updates and DTC handling, and pairs with fuel cards to automatically log transaction data. Fully optimize your fleet by giving fleet managers, drivers, technicians, and other personnel access to the tools and information they need anytime, anywhere.
    Questions? Call us at 1-800-975-5304 or email hello@fleetio.com
    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    * Great Lakes Region VR Company

    * Colorado Ski-Market VR Company

    -----

    Show Notes:

    (00:00) - Intro

    (00:37) - Fleetio

    (01:55) - Mike’s background, business & vacation rental management

    (06:59) - Deal 1: 14 y/o Colorado Ski-country vacation rental management

    (11:17) - Does the reported revenue makes sense? They report 49 employees: what can you tell us about employees in the VR industry? Labor availability, regulations, geographic limitations

    (17:21) - What’s the correlation between business size and participative ownership?
    (19:41) - What’s been your experience when acquiring a new business and transitioning from the previous owner in the industry?

    (21:35) - What’s the implication of short-term rentals on revenue?

    (25:02) - Do you place your company listings on booking platforms?

    (28:08) - Deal 2: VR Management Firm

    (36:18) - Could you add a complementary business?

    (38:35) - What are the threats that you evaluate in this business?

    (41:20) - Why are fees in vacation rental companies higher? What is the differential service provided?

    (47:03) How would you go about Deal 2?

    -----

    Additional episodes you might enjoy:

    #83 Can you grow a business in a shrinking market? Featuring baller @WilsonCompanies as a special guest!
    #82 How Great Operators Win! How PE does it like pros - with Mark Brooks

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Move over Elon - Here's what we'd do if we acquired Twitter - Acquisitions Anonymous Episode 90 Apr 28, 2022
    Show notes

    Michael Girdley (@Girdley) and Bill D’Alessandro (@BillDA) discuss the Twitter deal at this special Episode. We talk about the financials, the value, cashflow expenses considerations, vested vs unvested stock treatment, both businesses’ performances within Twitter (Ads & B2B), pricing power potential, how we would turnover cost centers to profit sources, new product ideas, breaking out of the culture bubble, and much more!
    We had a ton of fun recording this one, let us know what you think!

    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    -----

    Show Notes:

    0:00 Intro

    1:17 Deal numbers

    3:19 What is Elon actually doing?

    6:13 It isn’t closed yet: Timing & steps in this kind of deals

    9:00 What is being bought? Take us through the financials Michael

    13:04 Stock-based compensation considerations

    14:59 Why aren’t they vomiting cash?

    16:00 Twitter is actually 2 businesses: How do they perform?

    18:15 Revenue Build: How do we make it grow faster? What’s changing on the operational side? What is the potential?

    20:34 Let’s put the Private Equity hat on: What would we do?

    22:31 Exploiting the monopoly pricing power

    24:29 What’s happening with the advertisement rates? How does the ad engine work?

    29:04 Monetize these new business lines: We got 4 to start with.

    36:40 Billion dollar idea: Get into recruiting

    39:57 Operational improvements: How do you reduce headcount organically? Why does moving the HQ make sense?

    43:44 Let’s treat this as a growth asset

    -----

    Links:

    * Twitter M&A

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #83 Can you grow a business in a shrinking market? Featuring baller @WilsonCompanies as a special guest!

    #82 How Great Operators Win! How PE does it like pros with Mark Brooks
    #48 Two Landscaping Businesses for Sale - Mike Botkin of Benchmark Group

    Additional episodes you might enjoy:

    #64 How to find the expected benchmarks and KPIs for your industry?

    #67 I bought a business. Now what? Learn with us from an expert - Dzmitry Miranovi

    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


    Make Bank buying a bankrupt business | With Mehtab Bhogal - Acquisitions Anonymous Episode 89 Apr 26, 2022
    Show notes

    Bill D’Alessandro (@BillDA) is joined by Mehtab Bhogal (LinkedIn link) DTC eCommerce specialist to talk about distressed acquisitions & turnarounds, operations, capital structures, downsizing for quality, finding a business partner on Reddit, why makeup brands suck, and much more.

    We discuss a Bankruptcy deal, BH Cosmetics, linked below.

    -----

    Thanks to our sponsors!

    CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

    -----

    * Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    * Do you enjoy our content? Rate our show!
    * Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    -----

    Acquisitions Anonymous Episode 89

    Show Notes:

    (0:00) Intro

    (1:00) Cloudbookkeeping.com

    (2:09) Mehtab's introduction

    (4:23) Why do you buy a business to downsize it? [Episode clip for wednesday]

    (6:14) What is your general path after acquiring a business?

    (7:21) What does the cap structure look like pre vs. post-close?

    (10:23) How do you handle the Equity?

    (15:39) Let's jump to the Deal: BH Cosmetics.

    (18:14) Revenue trajectory

    (21:19) What is a 363 auction?

    (23:16) What does the process look like?

    (24:17) What do you think about this deal from a diligence and structure perspective?

    (26:52) How well do you know the business at the bidding stage?

    (28:26) Let's say you give it a go, how do you decide what the proposal is going to be for lenders and equity holders?

    32:00 DIP loan: Debtor in possession financing [Clip]

    (32:43) What is the downside risk here? How does Karta add a layer of coverage?

    (34:46) Let's take about the operation side: How do you start a turnaround?

    (40:02) What are specifics about diligence for your company? Why are product teams so important?

    (44:05) BH got purchased at $4Mio. Was it expensive?

    (48:35) Tell us about the Return Profile, & how does it relate to equity value?

    -----

    Links:

    * BH Cosmetics Deal Link

    -----

    Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

    -----

    Additional episodes you might enjoy:

    #87 Yelp is not evil! Building a business using digital CAC | with Johnny Robinson

    #82 How Great Operators Win! How PE does it like pros | with Mark Brooks
    #88 Sellers Lie about the numbers?! | with Elliot Holland


    Subscribe to weekly our Newsletter and get curated deals in your inbox
    Advertise with us by clicking here

    • Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
    • Do you enjoy our content? Rate our show!
    • Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

    For inquiries or suggestions, email us at contact@acquanon.com


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