Acquiring Minds

You thought the internet killed them off, but the travel agency Jared Benoff bought does $1m SDE by dominating a niche.

Topics in Jared’s interview:

• His 9.5 year stint at Twitter/X
• Helping his dad with the family business
• Buying his parents’ destination wedding business
• Evolution of travel agencies
• His dad’s successful YouTube videos
• Advantages of buying the family business
• Standing out with customer service
• The pain of 4-star reviews
• Working with a loan broker
• Buying for 2x SDE

References and how to contact Jared:

• LinkedIn
• Twitter
• Vacationeeze
• Shell Zhang on Acquiring Minds: Awakening to Entrepreneurship to Buy a Not-Boring Business
• Jordan Evans on Acquiring Minds: White Collar Roll-Up from $700k to $12m

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

• The Acquisition Lab

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], 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 [email protected] and mention Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

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

Initially drawn to buying a business, Kevin Moyer instead decided to start a project-based blue collar business instead.

Topics in Kevin’s interview:

• Is the franchise fee worth it?
• Buying 3 de novo Smash My Trash territories
• His appreciation for reversible decisions
• A small business is an extension of the owner
• Recurring revenue is overrated
• Simple is nice, but complexity is a moat
• Starting a business with his friend
• Advantages of having a business partner
• Resiliency of physical world businesses
• Simplicity of a binary outcome business

References and how to contact Kevin:

• LinkedIn
• Twitter
• Smash My Trash
• Golden Home Access
• Nick Haschka on Acquiring Minds: Building a $10m EBITDA Leader in a Fragmented Space
• Kevin’s substack
• Kevin’s substack post: Changing My Mind & What’s Next
• Johannes Hock on Acquiring Minds: Buy and 3x a Project-Based Business in Just 2 Years

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

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

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

Register for the webinar: 

• How to Reduce Surprises with Operational Diligence - Wed Mar 26 - https://bit.ly/4hxp0tj 

Seeking a fit with his industrials experience, Adam Salmen bought an 8-figure business with locations around the world.

Topics in Adam’s interview:

• Looking beyond “arts and crafts” businesses
• Partnering with Novastone to search and acquire
• Acquiring a multinational industrial company
• China's dominance in steel production
• Tariffs and the steel industry
• Crowdfunding attempt that failed
• Don’t buy a PowerPoint presentation
• False summits in business ownership
• Being inspired by Naval Ravikant
• Putting your name on a business

References and how to contact Adam:

• LinkedIn
• Novastone
• Cliff & Christine on Acquiring Minds: Behind Every Great Searcher: A Wife’s Journey with Search

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

• From this page or contact [email protected]

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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.

Register for the webinar:

• How to Reduce Surprises with Operational Diligence - Wed March 26 - https://bit.ly/4igNOqz

After his acquisition failed, Jed Morris connected with dozens of others who'd experienced the same. There are patterns.

Topics in Jed’s interview:

• Pivoting from Air Force to tech
• Interning for the company he bought
• Acquiring 2 landscaping companies a few weeks apart
• Insurance cost increased 30% after acquisition
• Pros and cons of long-term employees
• Misjudging his employability 
• Going out of business
• His upcoming book about business failure
• What bankruptcy really looks like
• Top 3 reasons businesses fail

References and how to contact Jed:

• LinkedIn
• Twitter

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]

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

Register for the webinar:

• How to Reduce Surprises with Operational Diligence - Web March 26 - https://bit.ly/4kVYn3U

Recently laid off and a baby on the way, Shaugn Lindley pivoted into SMB ownership by buying a business with $550k SDE.

Topics in Shaugn’s interview:

• Getting laid off from tech
• Reaching out to 600 local landscaping companies
• Finding a mentor through Acquiring Minds
• Why he decided against landscaping
• Acquiring a forklift repair business
• The importance of follow up
• Being the second best option
• Challenge of hiring technicians
• Standing out from the competition
• Getting the business listed on Google

References and how to contact Shaugn:

• Twitter
• LinkedIn
• R&R Lift
• Mike Loftus Twitter
• Adrian Pinto & Mike Botkin on Acquiring Minds: One Acquiring Minds Guest Buys Another
• Matt Bauer & Chris Hartman on Acquiring Minds: Exited but Tired: 5 Years in a Hard Business

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Listen to Meeting of the Minds, our new sister podcast about independent sponsors and deal-by-deal private equity:

• YouTube, Spotify, Apple

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

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

• The Acquisition Lab

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Register for:

• Employee Issues & Non-Competes When Buying a Business - Thu March 13th - https://bit.ly/41vg9SL

• The live Q&A with Harley on March 27th - https://bit.ly/43vYX24

Harley Sitner bought a struggling VW van repair shop for $100k in 2013. Today it's an 8-figure business and brand.

Topics in Harley’s interview:

• His career in software
• First business acquisition: West Coast Nurseries
• Harley buys a VW Camper Van
• "I'd rather hug 100 people than serve a billion"
• Irrational passion of VW van owners
• Overpaying for a failing auto repair shop
• VW Van culture
• The value of the brand
• Building 6 different lines of business
• The app he's developing for VW owners

References and how to contact Harley:

• LinkedIn
• PeaceVans
• [email protected]
• Instagram

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

• The Acquisition Lab

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]

Attend SMBash in Dallas, April 2-4, to meet fellow business buyers, operators, and investors:

• SMBash.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

Register for:

• Employee Issues & Non-Competes When Buying a Business - Thu March 13 - https://bit.ly/3F6dasG

• The live Q&A with Nick on March 25th: https://bit.ly/3DoZfgD

Industry outsider Nick Munsee bought a traffic engineering firm for a good price, carefully de-risking the acquisition.

Topics in Nick's interview:

• Managing from out of state
• The white whale: a deal that almost happened
• Lessons from a failed acquisition
• Finding Hales Engineering
• Understanding the traffic consulting business
• Navigating lender challenges
• Incentivizing key employees
• Challenges in consulting business growth
• Project-based revenue insights
• The abrupt customer hand-off

References and how to contact Nick:

• LinkedIn
• Hales Engineering
• [email protected]

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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 [email protected] and mention Acquiring Minds

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

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

Register for the webinars:

• 5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/3QEgIoA
• Employee Issues & Non-Competes When Buying a Business - Thu March 13 - https://bit.ly/4koXrFb
• Live Q&A with Sean Daly - Tue March 18 - https://bit.ly/41yzjZ7

Day 1 changes? Yes please. Sean Daly brought a spirit of experimentation, iteration, and speed to a small HVAC business.

Topics in Sean’s interview:

• Founding and exiting his own company
• Going hard with cold outreach
• Hiring an offshore assistant to source deals
• Entrepreneurs are risk reducers
• Building an offshore back of house team
• Paying mostly in cash for the business
• His decisive leadership style
• ETA is sales
• Treating his low-SDE business like a start-up
• Failed experiment with outbound marketing

References and how to contact Sean:

• LinkedIn
• Ice C Cool

Attend SMBash in Dallas, April 2-4, to meet fellow business buyers, operators, and investors:

• SMBash.com

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

• Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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

Register for:

• Live Q&A with Jonathan Bournigal - Thu March 19 - https://bit.ly/41lwPwc

• Webinar: 5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/41m0o0i

Jonathan Bournigal returned to his native Dominican Republic to buy a business. He found a small one and has 6x'd it.

Topics in Jonathan’s interview:

• Boomer-owned businesses vs family-run businesses
• Avoiding the label of “tire kicker”
• Searching in a country the size of Rhode Island
• Why multiples are higher in the Dominican Republic
• Selling when your life depends on it
• Real estate: own or rent?
• Venture capital vs. growth equity vs. LBO
• Growing the business without debt
• Pros and cons of dominating the market in a small country
• How to structure investor terms in markets where exits are rare

References and how to contact Jonathan:

• LinkedIn
• BUNKER
• Carabela Search and Management

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 3rd:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

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

Register for the webinar:

• 5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/435spfe

Barker Squire has grown his crane servicing business gradually over 6 years. Now he turns his attention to what's next.

Topics in Barker’s interview:

• Leading teams in the Marine Corps
• Getting a conventional loan instead of SBA
• Keeping his ears open in seller meetings
• Pros and cons of government contracts
• Employees walking out
• Staying safe in a dangerous job
• The owner staying as an employee
• Growing revenue 3x in 6 years
• His vision to build a holdco
• Promoting an employee to CEO

References and how to contact Barker:

• LinkedIn
• Barker's album on Spotify 
• Craneworks, Inc.
• John Gilson

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 broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of 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