Resisting at first, Mark Litton eventually realized that buying the family biz was the perfect path to entrepreneurship. 

Themes from Mark's interview:

• Buying a business from a family member
• Redefining “real” entrepreneurship
• Structuring a deal with 100% financing
• Understanding the business’s numbers before you buy
• Getting through struggles in your first year
• Recession-proofing your business
• Free resources for aspiring acquisition entrepreneurs

Reach Mark at:

• mark at howard medical dot com
• Howard Medical Company

Learn how to find a lawyer for your deal, how much you'll spend, what to look for, and how to avoid suing the seller. 

Themes from the interview with @SMB_Attorney:

• Absolutely necessary: a good lawyer
• What to look for
• References? Reviews? Hmm, difficult
• What you'll pay
• Don’t be afraid to negotiate price
• Do they need to be in the same location as your deal?
• You don’t want to sue
• Indemnification: Get familiar with it

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

• How to Hire an Attorney for Your Acquisition

A husband & wife bought a therapy practice for $120k, almost dumped it, then grew it for 8 years when PE came knocking. 

Themes from Neil's interview:

• Growing a mental health practice from $615k/year to $2M. 
• How working in your acquired business (not on it) can save you
• Owning a business with your spouse
• Equipment leasing as a solution to keeping overhead costs low 
• To sue or not to sue (the seller, post-acquisition)
• Preferring businesses for sale rather than cold outreach to owners
• When to sell a fast-growing business

Reach Neil at:

• @neilsaidwhat

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

• Buying a Therapy Practice & Selling for Millions

Jordan Carter & Robert Graham argue for self-funded search over traditional search funds or the "buy small" approach.

Themes from the interview with Jordan & Robert:

• Self-Funded Over Traditional
• Buy Bigger
• Turning $200k into $4M+
• How Much Money You'll Need
• Be Prepared to Move
• No Deal Experience? No Problem
• What Makes a Good Searcher

Reach Jordan & Robert on LinkedIn:

• Jordan Carter
• Robert Graham

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

• The Argument for Self-Funded Search

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