Darryl Lindie did a geo-constrained search in Rhode Island to acquire a sign business with $650k of SDE & 25 employees. 

Topics in Darryl’s interview:

• His background in the Navy
• How getting an MBA might slow you down
• Searching in a small geographic radius
• Buying a signage company
• Valuing a business with a lot of cash transactions
• Getting comfortable with project-based revenue
• Mistakes in due diligence
• Improving the culture in 100 days
• Hiring a supplier to be his GM
• Raising a fund for New Majority Capital

References and how to contact Darryl:

• LinkedIn
• [email protected]
• New Majority Capital
• Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business Empire
• The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

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

Matt Barnes bought a $400k SDE linen laundry business, channeling his conviction at big decision points along the way. 

Topics in Matt’s interview:

• Doing a narrow geographic search
• Pros and cons of door-to-door proprietary outreach to sellers
• Importance of having his wife on board
• Getting emotionally invested in deals
• His values-based reason for acquiring a business
• The business sustaining fire damage before purchase
• Buying a commercial laundry business
• Niches within the laundry industry
• Realities of being an owner-operator
• How hard work builds character

References and how to contact Matt:

• LinkedIn
• Professional Touch Laundry Service
• Zen and the Art of Motorcycle Maintenance
• How to Shorten Your Search to Buy a Business | Sam Rosati Interview

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

• Contact [email protected] or visit Aspen HR

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

Recording of a live panel hosted by EO Silicon Valley with Acquiring Minds host Will Smith moderating. 

Topics discussed:

• 3 stories of buying businesses
• What the search, due diligence, transition was like for each of the 3 entrepreneurs
• Silicon Valley-style entrepreneurship vs. entrepreneurship through acquisition (ETA)
• The napkin math of a business acquisition with an SBA loan
• Moving from white collar to blue collar environments
• Is there a "type" who buys a business?
• Graduating from buying your 1st business to your 2nd, 3rd, and beyond
• How buying a first business can quickly lead to more acquisition opportunities
• Inorganic growth vs. organic growth
• What being an investor in search deals looks like
• Scariest moment from each entrepreneur's journey
• Question: How do you think about due diligence?
• Question: Does the softness in the macro M&A market affect activity in search?
• Question: Thoughts on roll-ups.

References and how to contact George, Corey, or Nick:

• LinkedIn for the panelists: George Goates, Corey Veverka, Nick Haschka
• George Goates’ previous interview on Acquiring Minds: The Joys & Pain of Owning a $10m City Bus Business
• Corey Veverka’s previous interview on Acquiring Minds: How to Buy the Business Where You Work
• Nick Haschka’s previous 2 interviews on Acquiring Minds:
  • How One Small Acquisition Led to 9 More in 5 Years
  • 6 Ways Buying a Business Has Changed Since 2016
• EO Silicon Valley
• Club Sportiva in San Jose, site of the panel

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

• Contact [email protected] or visit Aspen HR

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

While not a CPA herself, a clear list of buying criteria led Gretchen Roberts to acquire a 16-person accounting firm. 

Topics in Gretchen’s interview:

• Overcoming mental blocks about leaving a good job
• Using her marketing skills for proprietary search
• Acquiring an accounting firm without accounting experience
• Building rapport and trust with the team
• Changing the business’s name
• Being comfortable managing a remote team
• Balancing business ownership and family
• Her plan to recruit accountants through part-time roles
• What makes her accounting firm stand out
• Buying based on revenue instead of SDE

References and how to contact Gretchen:

• LinkedIn
• Red Bike Advisors
• Robert Kiyosaki's Cashflow Quadrant
• The Epic Challenge by Roland Frazier
• Chris Williams on Acquiring Minds: System Six:  One Year Update | Chris Williams Interview
• Patrick Dichter on Acquiring Minds: Shut Out by Industry Brokers, an Entrepreneur Finds a Way
• Patrick Dichter on Acquiring Minds: How I Achieved 60% Growth in My Bookkeeping Business |Patrick Dichter

Connect with A-players who can run your business remotely:

• More Staffing

 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

Acquiring Minds host Will Smith reflects on 200 episodes, tells the podcast backstory, and teases what's coming in 2024. 

Topics in today’s episode with Will:

• Essential lessons from 200 interviews with acquisition entrepreneurs
• How Acquiring Minds got started
• Is Will going to search for a business to buy?
• Plans for Acquiring Minds in 2024

References and how to contact Will:

• Episode 183 with Brandon Adams: Hiring a General Manager & Buying Business #2
• Connect with Will on LinkedIn
• Follow Will on Twitter

Connect with A-players who can run your business remotely:

• More Staffing

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

Sensing untapped potential, Mark Olivito paid cash for a project-based construction business with less than $100k SDE. 

Topics in Mark’s interview:

• Buying a business that checked all the wrong boxes
• Why he “overpaid” to acquire PAVERART
• What attracted him to the business
• His passion for building a successful blue-collar business
• Glamorization of entrepreneurship
• The importance of showing up and “eating last”
• The trades as a lucrative alternative to college
• Mental health challenges in small business ownership
• Building resiliency before trying to grow
• His advice for those interested in buying a business

References and how to contact Mark:

• LinkedIn
• Twitter
• PAVERART
• [email protected]
• Hustle or Bust

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

• Contact [email protected] or visit Aspen HR

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

Ben Bryer worked with a financial backer to find & buy a 65-year-old niche manufacturing business without an SBA loan. 

Topics in Ben’s interview:

• Spending $150K and 18 months on dead deal
• The emotional toll of a failed deal
• Freelancing to partially fund his search
• Buying a pin gage manufacturer
• What attracted Ben to the business
• Choosing a conventional loan over SBA loan
• Building relationships with lending partners
• Tech debt as a liability
• The benefits of having long-term employees
• Importance of time allocation

References and how to contact Ben:

• [email protected]
• LinkedIn
• Twitter
• Meyer Gage

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

• Contact [email protected] or visit Aspen HR

Connect with A-players who can run your business remotely:

• More Staffing

Connect with Acquiring Minds:

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

Mike Okhravi left a cushy tech career to buy a towing business & a flooring business — and within 30 days of each other. 

Topics in Mike’s interview:

• Why he passed on the Search Fund Accelerator
• His philosophy on taking more risk by moving fast
• Signs of a motivated seller
• Buying a 4-person garage flooring business
• Surprises after acquiring the business
• Why profit dips post-acquisition
• Discarding the “searcher rules”
• What he loves about the towing business
• Operating 2 businesses at once (including one 3 hours away)
• Getting back up after business failures

References and how to contact Mike:

• Twitter
• LinkedIn
• [email protected]
• Codie Sanchez

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

A fireside chat with veteran searcher & investor Kent Weaver recorded at the Self-Funded Search Conference in Dallas. 

Topics in Kent's interview:

• Kent's history: his search & how he evolved into an investor in searchers
• How the first 2 or 3 years post-acquisition are different in a self-funded search vs. a traditional search fund
• How traditional search feels different today vs. its early days
• What is a "3am business"?
• The power of choosing a quality industry to buy a business in
• The power of high quality revenue
• The power of strong unit economics
• The power of you as CEO
• Ingredients of a good search CEO
• How to handle it if the business you buy fails?
• 2 stories of search failures
• Staying too long in a bad business
• When buying a business, dream bigger. No artificial ceiling.
• Thinking beyond your first deal: what doing a search does for your career

References and how to contact Kent:

• The event where the fireside occurred: Self-Funded Search Conference (submit this contact form for next year's event)
• Iron Mountain
• LinkedIn
• Kent’s investing vehicle, Granite Point Partners

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

Sean Moore looked at a handful of businesses, but a fine art gallery with over $1m SDE won the art collector's heart. 

Topics in Sean’s interview:

• Pulling $1M out of his 401k to buy an art gallery
• How his gallery brings in $1M in SDE
• The ecommerce aspect of the gallery
• The additional revenue stream of a frame shop
• Opportunities to improve the gallery website
• His peer group that supported his search
• Choosing a passion business over a “boring” one
• Forming a connection with the seller
• Using ROBS for acquisitions
• Negotiating earnest money with the seller

References and how to contact Sean:

• LinkedIn
• [email protected]
• Josh Levell
• Fascination St. Fine Art
• Jeff Baughman
• Guesswork Investing

Connect with A-players who can run your business remotely:

• More Staffing

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