Acquiring Minds

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 [email protected], 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

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 [email protected], 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

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 [email protected] and mention Acquiring Minds

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

• From this page or contact [email protected]

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

From the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually.

Register for the webinar: 

• What a Good Investor Pitch Looks Like -TODAY!! - https://bit.ly/3LYM4H2

Topics in Linh’s interview:

• The "Three Rs" search criteria
• Being an undercover owner for 18 months
• Eliminating 70-hour workweeks for his techs
• Struggling with work-life balance
• Implementing value-based pricing
• 80% rule for delegation
• Why he doesn’t want to exit
• Fostering deep employee loyalty
• Corporate philanthropy and legacy
• What money can’t buy

References and how to contact Linh:

• [email protected]
• LinkedIn
• Apex Fund Group

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

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

• Book a call with Tim or [email protected] 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

Greg Geronemus bought a highly-profitable travel business at favorable terms, helping to ensure a great return on exit.

Register for the webinar: 

• What a Good Investor Pitch Looks Like - Nov 20th - https://bit.ly/47YbVXj

Topics in Greg’s interview:

• Challenges of searching in New York
• Cobbling together a search fund in earlier days of search
• Strategy of cold email outreach
• Acquiring at age 26
• Partnering with a friend
• Significant challenges of running a tour operator
• Digital marketing did not move the needle
• Direct mail was the silver bullet
• Partnering with universities and religious groups
• Exiting after 4 years

References and how to contact Greg:

• LinkedIn
• Footbridge Partners
• Katherine & Rahul on Acquiring Minds: Why Choose Ownership Over Being a CEO

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 [email protected], and tell him you’re a searcher

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

• From this page or contact [email protected]

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

Gail Azodo discovered a method of buying audiology practices with 100% financing. She's moving quickly to buy and build.

Register for the webinar:

• Financing Your Deal: SBA vs. Non-SBA - TODAY - https://bit.ly/4p4J2Q7

Topics in Gail’s interview:

• Managing brands at Proctor and Gamble
• Her vision to run her own company
• Life changing power of hearing aids
• Switching her search from Vision to Audiology
• Consequences of untreated hearing loss
• Financing through hearing aid manufacturers
• Cross-licensing her providers in multiple states
• Addressing the Audiologist shortage
• Intentionally acquiring where she does not live
•  Find what “brings the flies to the honey”

References and how to contact Gail:

• LinkedIn
• Real Hearing USA
• Bruce Vann on Acquiring Minds: How to Grow a Manufacturing Business

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

• From this page or contact [email protected]

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

• Book a call with Tim or [email protected] and mention Acquiring Minds

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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

After chafing under the constraints of being a CEO, Katherine Butler-Dines & Rahul Desai bought a business of their own.

Register for the webinar:

• Financing Your Deal: SBA vs. Non-SBA - Nov 13th - https://bit.ly/47OQpUA

Topics in Katherine and Rahul’s interview:

• Katherine’s early CEO experience
• Board conflicts pushed her toward majority ownership
• Acquiring without a traditional bank loan
• Convincing the seller to do a seller note
• Paying the seller note with float from advance bookings
• Rahul built custom software to increase margins
• Searching nights and weekends while at their W-2s
• Affordability of living in the midwest
• Vision of acquiring and integrating more travel businesses
• Learning to delegate and enjoying free time

References and how to contact Katherine and Rahul:

• Katherine’s LinkedIn
• Rahul’s LinkedIn
• Affinity Travel Co.
• Shell Zhang on Acquiring Minds: Buying a Not Boring Business with $600k SDE
• Jared Benoff on Acquiring Minds: Why Buy a Travel Agency (Because They Can Crush It)

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

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

Clayton Collins acquired HousingWire with a big vision for the small media business. 9 years later, it has come to life.

Register for the webinar:

• Overcoming Risks from a Lender’s Perspective -  TODAY! - https://bit.ly/3WxDKAs

Topics in Clayton’s interview:

• Hire for your skill gaps
• Flying around the country to meet investors
• Asking for warm introductions
• Selling investors on his strategic vision
• What to look for in a media company
• Direct relationships with advertisers vs. programmatic ads
• Rebuilding the sales team over and over
• Riding the wave of the mortgage industry
• Maintaining the magic of annual events
• Selling print ads differs from selling digital ads

References and how to contact Clayton:

• LinkedIn
• HousingWire
• Nathan Gregory on Acquiring Minds: Business-Buyer Fit in a 42-Year-Old Media Biz

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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

Both buyer Jared Lenner and seller Dave Serwitz share their perspectives on the acquisition of a 20-year-old business.

Register for the webinars: 

• Investor-Backed Search and SBA: Buy Bigger, Keep Control - TOMORROW! - https://bit.ly/4qABMgn
• Overcoming Risks from a Lender’s Perspective - Thu Nov 6th - https://bit.ly/4qDoJdV

Topics in Jared & Dave’s interview:

• Jared buying Dave’s tutoring business
• Dave’s motivation to sell
• Choosing to work with Search Fund Accelerator
• Their agreement to “assume positive intent”
• Why Dave didn’t sell to private equity
• How the in-person business survived Covid
• Bookkeeper quit right after transition
• “Other people’s money is scarier than a PG”
• Competing with AI in the future
• How it feels to sell your company

References and how to contact Jared & Dave:

• Dave Serwitz LinkedIn
• Jared Lenner LinkedIn
• Grade Potential Tutoring
• Marc Anderegg on Acquiring Minds: So Much Fun: The Buyer of Choice in a Fragmented Industry

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

• Book a call with Tim or [email protected] and mention Acquiring Minds

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

• From this page or contact [email protected]

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

Shaun Stimpson had worked for two decades before pivoting to buying businesses in a different industry. He's moved fast.

Register for the webinar: 

• Tax Issues: Entity and Deal Structuring - TODAY! - http://bit.ly/47CVZui

Topics in Shaun’s interview:

• Staying in corporate was the riskier choice
• Calling 1200 businesses during his search
• Going back to school to learn more about acquisition
• Acquiring with his partner, Robert Wolf
• Raising $6m from outside investors
• Leaning on his professional network
• Choosing his investors carefully
• Acquiring in his mid-40’s
• Long-term hold strategy
• Acquiring 3 businesses in succession

References and how to contact Shaun:

• LinkedIn
• Mitten Fluidpower
• FLN-MAR
• Frank Murken Products

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 [email protected], and tell him you’re a searcher

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

• From this page or contact [email protected]

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