Acquiring Minds

Register for the webinars:

• Where Searchers Go Wrong - Thu  Nov. 14 - https://bit.ly/40HZtZK

• Legal Office Hours: Understanding the Waterfall - Thu Nov 24 - https://bit.ly/4hEzVTh

The story behind "Rick & Royce", who've probably done more to grow entrepreneurship through acquisition than anyone.

Topics in Rick and Royce’s interview:

• How they met in academia
• Growth of their ETA class at Harvard
• Unexpected success of their book
• Satisfaction of changing students’ lives
• Thoughts on their sons searching for businesses
• Partner/family perspectives on search
• Value of learning about failed acquisitions
• How attitudes about small business have transformed
• Using their podcast to educate about small business
• Thoughts on pursuing wealth

References and how to contact Rick and Royce:

• The book: HBR Guide to Buying a Small Business
• The podcast: Think Big, Buy Small
  
  

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

• Oberle Risk Strategies - Search Fund Team

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

Connect with Acquiring Minds:

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

When he realized he was willing to do the work himself, Matthew Railla bought a $500k SDE termite inspection business.

Topics in Matt’s interview:

• His family’s culture of entrepreneurship
• His background running a winery
• Becoming a business broker
• Buying his own listing
• Buying a tough-to-sell business 
• Getting an SBA loan using the new partial buyout rules
• Crawling under houses himself to learn the trade
• Seller agreeing to teach him for 2 years
• The 3 branches of pest control
• His plan to expand the business

References and how to contact Matt:

• LinkedIn
• [email protected]
• https://www.toptermiteco.com

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

• The Acquisition Lab

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

• Contact [email protected] or visit Aspen HR

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

Iris Levine bought a 30-year-old construction firm just steps from the rough Nashville neighborhood where she grew up.

Topics in Iris’s interview:

• Working 3 jobs to pay for college
• Background in high-growth startups
• Forming her own acquisition mastermind group
• Finding an unlisted business through a broker
• Buying a porch construction company
• Putting 5% down without outside investors
• Choosing to forego a quality of earnings
• Adding technology for project management
• Motivation to find work-life flexibility
• Possibility of expanding their offerings

References and how to contact Iris:

• LinkedIn
• Episode #233 with Alan Lochridge

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

• Matthias Smith of Pioneer Capital Advisory

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

Register for the webinar: 

• How to Run a 2-Year Search in 2 Months - Nov 1 - https://bit.ly/48sjkh9

Seattle-based Dan Drake & his wife wanted to raise their kids in Bend, Oregon. Buying a business allowed them to do it.

Topics in Dan’s interview:

• His search in Bend, Oregon
• Understanding negotiation tactics
• Bundling the real estate with the business
• His seller-financed deal
• Renegotiating after sales dipped 20%
• Pros and cons of having experienced staff
• Explaining balloon payments
• Giving back to Central Oregon
• Meeting with top customers to understand their needs
• Improving inventory management and website

References and how to contact Dan:

• LinkedIn
• Industrial Applied Electric
• Negotiate Without Fear by Dr. Victoria Medvec

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

• Oberle Risk Strategies - Search Fund Team

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

• The Acquisition Lab

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

• Contact [email protected] or visit Aspen HR

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 webinar:

• How to Run a 2-Year Search in 2 Months - Friday, Nov 1 - https://bit.ly/3YEN9YE

When, at age 29, Gat Caperton bought a furniture maker in his native West Virginia, he was also buying himself a career.

Topics in Gat’s interview:

• Working for the legendary Sam Zell
• Acquiring a furniture manufacturer in 1996
• You’re better off with smart competitors than dumb competitors
• Cutting his lead time in half the first year
• Implementing lean manufacturing
• Owning the business with his dad
• China devastated US furniture manufacturing
• Joining John Bassett to sue China for breaking trade laws
• The evolution of “Made in America”
• How to evaluate a furniture manufacturer

References and how to contact Gat:

• LinkedIn
• Gat Creek
• Factory Man by Beth Macy
• The Goal by Eliyahu Goldratt and Jeff Cox

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 [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

Register for the webinars:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3UihUQG

• How to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/3UfYJqz

Nik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.

Topics in Nik’s interview:

• Tragedy that ignited his passion for hospice
• Losing his job while his wife was in labor
• Searching for a business to fit his skillset
• Industry is more important than business
• Margins in home health
• Calculating return on brain damage
• Learning firsthand about the J curve
• Importance of relationship with the seller
• Being in business with his brother-in-law
• Advice for young entrepreneurs

References and how to contact Nik:

• Twitter
• Cofounders.com
• Nikonomics

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)

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:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/4dR5CWq

• How to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/4dQifkn

Kristiana Laugen left tech to buy a 40-year-old pool business with $300k SDE. Fast growth from a small base is the plan.

Topics in Kristiana’s interview:

• Her career working for start-ups
• Her desire to “eat what she kills”
• Finding a business sooner than expected
• Acquiring a commercial pool maintenance/repair business
• How commercial pool maintenance differs from residential
• Quickly firing all but one technician
• Making changes in the first 90 days
• Seller retained 5% equity
• Using an app for routing efficiency
• The numbers game of hiring

References and how to contact Kristiana:

• LinkedIn
• [email protected]
• Twitter
• RD Pools, Spas & Fountains

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

• Contact [email protected] or visit Aspen HR

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

• Oberle Risk Strategies - Search Fund Team

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

Register for the webinar:

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zTykbc

Tech industry vet Eric Bauer wanted to build something for himself. Buying a hat brand across the country was the path.

Topics in Eric’s interview:

• Skills he acquired during 10 years at Amazon
• Moving from Seattle to Alabama to buy a business
• Red flags in business listings
• Comparing BizBuySell and Axial for business search
• Acquiring a hat distributor
• Solving problems with hat sizing
• Learning how to motivate his staff
• Hiring difficulties
• Inventory management complexities
• Self-confidence as a business owner

References and how to contact Eric:

• [email protected]
• LinkedIn

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

• Contact [email protected] or visit Aspen HR

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 [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

Register for the webinars:

• Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/4h3R74o

• Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zT8sMA

Justin Willess liquidated his 401k to buy a $8.5m construction business. He lost the business and may lose his house.

Topics in Justin’s interview:

• Frustration with his consulting career
• Buying a construction company
• Construction landscape in Northern Virginia
• Discovering cooked books after transition
• Seller refused to release promised funds
• Emptying his 401k to make payroll
• Calm is contagious
• Closing the business
• What he learned from the failed acquisition
• Why he wants to acquire again

References and how to contact Justin:

• LinkedIn
• [email protected]

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

• Matthias Smith of Pioneer Capital Advisory

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

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

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

Register for the webinars:

• Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/3TYdVZ8

• Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/3BznZl0

As a banker Greg Bruns dealt with business owners, wanting what they had. When a friend bought a business, he saw a way.

Topics in Greg’s interview:

• Leaving his banking career to buy a business
• Big risks of doing an asset sale
• How ownership is different than expected
• Risks and benefits to buying small
• Why erosion control matters to infrastructure
• Being tied to the construction industry
• Managing cashflow in a project-based business
• How weather affects his bottom line
• Involving his employees in business decisions
• The good/bad of keeping the seller in the business

References and how to contact Greg:

• LinkedIn
• Twitter
• [email protected]
• Allied Hydromulch

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

• The Acquisition Lab

Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

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

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