Acquiring Minds

Register for the webinar:

• First 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hFqGle

24 hours into Jack Carr's ownership of a tiny HVAC business, disaster struck. Just 2.5 years later, it did $3m in sales.

Topics in Jack’s interview:

• All HVAC techs quit on the first day
• Buying an HVAC business with no physical location
• Why he feels like his 2x multiple was too high
• Teaching himself HVAC skills via YouTube
• How he prices a book of business
• His process for retaining customers after acquisition
• Value of a business owner community
• How Google reviews keep the phone ringing
• Understanding the risk of buying small
• Listening to your employees without being held hostage

References and how to contact Jack:

• LinkedIn
• Twitter
• Owned and Operated
• Pete Ciaverilla on Acquiring Minds: Bullseye: Buying a $1m SDE Business in a Hot Industry

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 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

Register for the webinars:

• Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3QjGZYR

• First 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hCxC2G

Subscribe to the new podcast, Meeting of the Minds:

• On YouTube
• Spotify & Apple links coming soon!

Lucas Philips bought a niche manufacturer with $200k SDE, aiming to make it an ecommerce/DTC business. It's working.

Topics in Lucas’s interview:

• How his startup mindset influenced his acquisition
• Buying a super-niche manufacturer at age 23
• Motivating staff (or not) with $3/hr raises
• Learning to fire and trust his instincts
• Modernizing the business
• Advantages of buying a business young
• Anxiety issues post-acquisition
• How bolt-ons have lengthened the J curve
• Expanding into the Porsche market
• Looking ahead to using AI

References and how to contact Lucas:

• LinkedIn
• [email protected]
• Newark Auto
• Benjamin Ross Group
• Ben Jasper on Acquiring Minds: Factory Life: Buying a Manufacturer with $1m SDE
• The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup

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

• Matthias Smith of 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

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

Register for the webinars:

• Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3X1BqSQ

Subscribe to the new podcast, Meeting of the Minds:

• On YouTube
• Spotify & Apple links coming soon!

Cliff & Christine Nelson navigated him buying a big but remote business while she was pregnant, then a first-time mom.

Topics in Cliff and Christine’s interview:

• Highs and lows of the 2-year search
• Cliff quitting his job right before Covid
• Becoming parents and closing on a business the same week
• What Cliff liked about the traditional search model
• Acquiring a business with 100 employees
• Being alone in an unfamiliar city as a new mom
• Christine getting very sick during the move
• Feeling like a bad father and a bad CEO at the same time
• Experiencing the J curve
• “I wouldn’t live through it again, but I’m glad we did it.”

References and how to contact Cliff and Christine:

• Cliff LinkedIn
• Christine LinkedIn
• PsychoGeriatric Services

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 [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

Register for the webinars:

• Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/4aOwtlM

• Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/4hQbn9e

It took Alex Holley a few months of daily meetings to find a $4.5m home services business in his local Louisville, KY.

Topics in Alex’s interview:

• Networking through 100 meetings in 4 months
• Buying 2 businesses at once
• Learning how to run a crew
• Going on jobs to learn about the work
• Leaving consulting for blue-collar industry
• Owning weather-dependent businesses
• Taking on a friend as a silent partner
• A close call with payroll the first week
• Building rapport with the employees
• Having a blast in home services

References and how to contact Alex:

• LinkedIn
• BDry Systems of Louisville
• RamJack
• Adam Duggins on Acquiring Minds: From Determined Searcher to $75m Accidental Holdco
• Ben Rizzo on Acquiring Minds: How a First-Timer Did a Turnaround (Including an Exit)

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

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

Credits:

• Produced by Pam Cameron
• Edited by Anton Rohozov

Register for the webinars:

• Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/414vOtc

• Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/42I4dPY

Former guest Chris Edwards has sold the $1.7m flooring business he bought with $200k of his own money and an SBA loan.

Topics in Chris’s interview:

• Why he chose to sell his flooring business
• Deciding not to rebrand
• Owning and operating in a small, isolated town
• A countertop acquisition that went south
• How a holdco is different from running one business
• Fetal positions and sleepless nights
• Improving their customer service
• Why he might build his next business from scratch
• Losing clients to a former employee
• Growing EBITDA from $500k to $1.1M

References and how to contact Chris:

• Twitter
• LinkedIn
• [email protected]
• Chris’s first appearance on Acquiring Minds: How to Survive Acquiring a $3.5m Flooring Business
• Chris’s second appearance on Acquiring Minds: Would They Do It Again? 1 Year Later with 5 Early Guests

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

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

Credits:

• Produced by Pam Cameron
• Edited by Anton Rohozov

Register for the webinars:

• 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/4aNHmEz

• Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/3PXBEX6

Industry-agnostic Trip Biesanz brought his sales skills to a glass fabrication & install business doing $3m in revenue.

Topics in Trip’s interview:

• Being a franchisee for 7 years
• Networking through MBBI and XPX
• Working with Calder Capital to find a business
• Narrowing down his search to construction
• Value he saw in long-term employees
• Managing cashflow in construction
• Relying on his team in an unfamiliar trades business
• Competitive nature of construction
• Highs and lows of running a business
• Franchising compared to owning an independent shop

References and how to contact Trip:

• LinkedIn
• G&C Glass, Mirror & Construction
• MBBI
• XPX

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

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

Register for the webinars:

• 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/3En1vFu
• Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/3EjjOex

7 months into ownership of a $2m fencing business, Kirk Olson is learning how to manage culture, tech, and cash flow.

Topics in Kirk’s interview:

• Achieving financial independence, but deciding not to retire
• Buying a business for a total life upgrade
• Negotiating with very difficult sellers
• Structuring real estate into the deal
• Returning after the first deal died
• Sales dropping after the transition 
• Learning to calculate the cost of a job
• Introducing a CRM and ditching the fax
• Making Mike’s Fencing a great place to work
• Turning on digital marketing

References and how to contact Kirk:

• [email protected]
• Mike’s Fencing
• John Murphy’s episode: The Double Life of Owning a Business 2.5 Hours Away

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]

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

Register for the webinars: 

•  Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/4hlhlic
• 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/3Qautet

When Shell Zhang recognized her own tolerance for risk she stepped off a linear path to buy a $600k SDE travel business.

Topics in Shell’s interview:

• Buying a group tour business
• Overcoming key-person risk
• Going from a regional company to a national company
• Avoiding “boring businesses”
• Paying over asking price for the business
• Why payment processors consider her business “high risk”
• Starting from zero with online marketing
• What her clients love about the business
• Possible areas for growth
• Her goal of redoing the website

References and how to contact Shell:

• LinkedIn
• Nada’s Italy

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]

Connect with Acquiring Minds:

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

Register for the webinars: 

• Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/4heHi35
• 5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/4h7HOQj

Ray & Dana Chery sensed a need for change in their careers. A 26-year-old portable sink manufacturer was the answer.

Topics in Dana and Ray’s interview:

• Going all-in as a couple buying a business
• How they beat out 50 other buyers
• Moving from the finance world to manufacturing
• Buying a portable sink manufacturer
• How Ray applies his banking skills
• Revamping the website and logo
• Opportunities to sell to more school districts
• Challenge of prioritizing tasks at the business
• Their vision to grow the company to 8 figures
• Wide variety of use cases for portable sinks

References and how to contact Dana and Ray:

• Ray’s LinkedIn
• Dana’s LinkedIn
• Monsam Portable Sinks
• Will Gano on Acquiring Minds: After 4 Years of Part-Time Searching, Success

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

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: 

 •Legal Preparation for Your Search - Thu Jan 30 - https://bit.ly/3CbswuP

Months into his ownership, Ayo Phillips realized his industry was fatally flawed. He survived and 5 years later, exited.

Topics in Ayo’s interview:

• Acquiring with funding from a family office
• Buying a declining business in a competitive industry
• Unethical practices within his industry
• Being honest about your motivation to buy a business
• Losing 19 employees who became competitors
• Treating his business like a startup
• Pivoting from countertops to driveways
• The toll the business took on his family
• Successfully exiting the business
• His 16 Commandments of Search

References and how to contact Ayo:

• The 16 Commandments of Acquisition Entrepreneurship
• LinkedIn
• Twitter
• Operators Coach
• Twitter thread
• LP First Capital
• Thomas Ince

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

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

• Book a call with Tim or email [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

Credits:
Edited by Anton Rohozov
Produced by Pam Cameron