Sarah Romer bought a large but tired hair salon in Austin for $80k. Her first year as owner was the hardest of her life.

Themes from Sarah's interview:

• The formula for estimating the value of a salon or beauty business
• What to do when sellers overestimate the worth of their company
• Where to cut costs after you’ve made an acquisition 
• Underestimating the importance of company culture
• The stress of owning and managing a retail business
• The process of exiting a business you’ve acquired

Reach Sarah at:

• Sarah dot Romer at gmail dot com

Official episode page & full show notes at AcquiringMinds.co:

• How to Buy a Salon as an Industry Outsider (and Survive)

Neil Granberry bought a bubble ball business to prove himself as an entrepreneur while pursuing an MBA at the same time.

Themes from Neil’s interview:

• The advantages of a small starter business as a first acquisition
• Looking past media hype that paints billionaire startup founders as the only entrepreneurs
• The value of a customer list
• The beauty of acquiring a small business that is already profitable
• Taking a hard look at a company’s books to negotiate a better sale price
• Delegating operations to trusted employees to better position yourself for a sale later on

Reach Neil at:

• @NeilGranberry
• Nashville Bubble Ball

Official episode page & full show notes at AcquiringMinds.co:

• Starter Acquisition: Buying a $25k Business

Thanks to changing his search from traditional to self-funded, Chris Williams bought a $1m EBITDA bookkeeping business.

Themes from Chris's interview:

• Traditional versus alternative search fund models
• The advantages of self-funded search (if you can afford it)
• The appeal of bookkeeping businesses
• How to stand out to potential sellers who have heard it all before
• The first six months after acquisition

Reach Chris at:

• Chris [at] systemsix [dot] com
• System Six

Official episode page & full show notes at AcquiringMinds.co:

• Stay Open to the Many Flavors of Search

Steve Divitkos shares tips from his acquisition, from the solitude of search to the delicate balance of being a new CEO.

Themes from Steve's interview:

• The full lifecycle of a traditional search
• The biggest myth about entrepreneurship
• Surviving the search process
• Why he bought Microdea
• Managing relationships with the sellers (the price of peace)
• What to do in your first two weeks as CEO 
• Why you should diagnose before you prescribe

Reach Steve at:

• His blog & podcast In the Trenches

Official episode page & full show notes at AcquiringMinds.co:

• From Search Misery to Successful CEO

A podcast exposed Jason Budd to buying businesses. After 10 years in corporate, he'd found his path to entrepreneurship.

Themes from Jason's interview:

• How Jason found the right business with the help of a mentor and a podcast
• Due diligence when it comes to finances and staff
• Keeping your options open in case a sale falls through
• Technical understanding of your acquired business
• What the history of an established business can tell you
• Getting to know the stories of the people who will work for you
• Being the project manager of your own deal

Reach Jason at:

• Metasystems
• LinkedIn

Official episode page & full show notes at AcquiringMinds.co:

• Buying a 45 Year Old Software Business

Closing on his 2nd acquisition in 10 months, Mike Botkin just became Central Florida's largest landscaping business.

Themes from Mike's interview:

• Acquiring a second landscaping business
• Dropping customers to grow 
• Developing a playbook for operating a landscaping business
• Treating your employees right
• Downsides of SBA loans and traditional search funds
• The invaluable resource of keeping the previous owner in the biz
• Viewing landscaping from a logistics perspective
• Why landscaping businesses are great acquisitions

Reach Mike at:

• LinkedIn

Official episode page & full show notes at AcquiringMinds.co:

• How to Buy Landscaping Businesses

Jessica Markowitz used a traditional search fund to search for & ultimately buy a great business. But the road was long.

Themes from Jessica's interview:

• Acquiring a business through a traditional search fund
• Leveraging an army of interns to power the search
• Search fund partnership with a close friend 
• Maintaining a good relationship with a business owner even after they decline you
• Running a legal services company without a law degree

Reach Jessica at:

• LinkedIn

Official episode page & full show notes at AcquiringMinds.co:

• Anatomy of a Search: 40 Interns, 25 Months, 20 Offers

There are many lenders out there eager to finance your acquisition. SBA loan expert Lisa Forrest explains how to choose.

Themes from Lisa's interview:

• Working with lenders to secure an SBA loan
• Choosing the right lender for you
• How to prepare for your SBA loan conversation
• Getting an SBA loan for SaaS and eCommerce businesses
• How business owners can plan ahead for a cash crunch
• Why now is a great time for buyers

Reach Lisa at:

• lisa [dot] forrest [at] liveoak [dot] bank
• Live Oak Bank

Official episode page & full show notes at AcquiringMinds.co:

• How to Choose Your Lender When Buying a Business

Shannon Jones explains how acquisition entrepreneurs should navigate the realities of buying a blue collar business.

Themes from Shannon's interview:

• Killing relations with a blue collar seller by being too "quant"
• Importance of vulnerability when negotiating
• How to know if a blue collar business is in an industry that’s right for you
• Managing blue collar employees and common pitfalls
• Transitioning as a new owner of a blue collar business
• When is the right time to make changes as a new owner?

Reach Shannon at:

• s jones [at] halstatt
• LinkedIn
• Halstatt Legacy Partners

Official episode page & full show notes at AcquiringMinds.co:

• The Poetry of Buying a Blue Collar Business

Due diligence expert Elliott Holland shares the top things he wishes he’d known when he first started buying businesses.

Themes from Elliott's interview:

• Started the due diligence firm he wished he’d had himself
• For LOIs, don’t let perfect be the enemy of the good
• Early information on an acquisition is +/- 40% correct (and that might be OK)
• The information you get post-LOI is what matters
• Don’t be surprised if the seller doesn’t trust you right away

Reach Elliott at:

• LinkedIn
• Guardian Due Diligence

Official episode page & full show notes at AcquiringMinds.co:

• What You Don’t Understand About Buying a Small Business