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Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) are joined once again by Heather Endresen (@EndresenHeather) for a special episode on SBA lending and borrowing. We talk about SBA generals, lending, borrowing, best practices, advantages, minimum requirements, and much more.
-----
Show Notes:

(0:00) Morenow.co - Hire Competent Professionals at a Discount
(1:47) Intro
(2:25) Heather's background & her work at Live Oak Bank
(3:53) Who is the SBA and what is SBA borrowing? Advantages of SBA Loans
(5:41) SBA Lenders fall into 2 categories: Cash flow lender or collateral lender
(6:46) When do I need an SBA Loan?
(7:34) How to differentiate a cashflow vs a collateral lender?
(9:57) What is going to happen to your personal collateral when taking an SBA Loan as a borrower?
(10:31) SBA has black and white rules around collateral
(11:32) Refinancing your mortgage while having an SBA loan.
(14:10) Advice for borrowers that look for loan exploits
(16:20) Is it possible to be disqualified due to the personal wealth level?
(17:58) Anyone who is going to be a personal guaranteur needs to fit the qualifications
(21:22) Removing the personal guarantee in the SBA: Shorter amortizations, flexibility & covenants.
(22:57) Minimum requirements and borrowing limits
(25:36) What is the typical order of the process and what are the best practices?
(28:36) Are there businesses that are SBA no go's?
(32:02) Which businesses are people running towards? Which ones should they be running towards?
(33:43) How has COVID affected your ability to underwrite deals?
(36:20) What does it mean to do a QAV?
(38:42) How to check your Bank for SBA Lending?
(40:06) Bank service importance
(44:07) Growing by acquisition: If you pursue a second loan in the same industry there is a 100% leverage opportunity
(48:00) Further recommendations for borrowers
(51:04) Common traits in successful and unsuccessful deals?
(52:47) Things that third party investors need to be mindful of if the entrepreneur is using an SBA
(54:46) What are the considerations for the seller in a seller financing situation?
(57:15) Fixed vs floating interest rates
(58:24) Enterprise value minimum
-----
Thanks to our sponsors!

MoreNow.co: We help owners build a high functioning, experienced team by leveraging the top manager/director talent in the Phillippines. Go to morenow.co and fill out the form. Or email [email protected]. Mention this pod for 20% of your first hire.
-----
Additional episodes you might enjoy:

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Bill D’Alessandro (@BillDA) is joined by Reg Zeller (@RegZeller) to discuss his journey from the corporate world into entrepreneurship, where he shares early experiences as a SMB owner, how a seller bailed out on him after a week on the job for the Bahamas, early wins & losses, his take on SMB ownership, and more.

-----

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* Do you enjoy our content? Rate our show!

* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----
Show Notes:

(0:49) Intro
(2:58) Previous deals
(3:18) What kind of funding do you used?
(5:04) Story nr. 1: Second generation SMB Foundry
(7:27) Seller wanted to close early, cash wasn't there yet
(9:45) Seller bailed out to the Bahamas, 1 week into the job
(10:44) Communicating to the customers the ownership change
(13:07) No experience, 4 days of training... Early wins & losses?
(14:37) How to freak your customers out
(15:10) 38,000 reasons to do proper maintenance
(16:39) King of the hill CEO status requires hard work
(19:55) Cloudbookkeeping.com
(21:03) Due diligence has to be done on assets as well
(22:18) Story nr. 2: Getting burned by a deshonest deal
(24:55) Pre LOI trust everything, Post LOI and due dilligence trust nothing
(26:01) Don't buy against your gut!
(28:10) Learn from screw ups
(30:48) Handling customer concentration
(33:28) The importance of customer relationship management
(34:46) 10xing the profits takes an obscene amount of work and industry know-how
(39:09) HR side stories
(45:28) Reg's credentials, check the description to find him on Twitter!
-----

Links:

* Twitter @regzeller / canekast.com

-----

Thanks to our sponsors!

CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth, with a “client service first” approach. They offer a full suite of accounting services that include sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

-----

Additional episodes you might enjoy:
#64 How to find the expected benchmarks and KPIs for your industry?
#67 I bought a business. Now what? Learn with us from an expert - Dzmitry Miranovich joins us once more
#

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For inquiries or suggestions, email us at [email protected]

Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) discuss 2 eCommerce deals in today's episode. An eCommerce skincare product seller & an Amazon FBA eCommerce Brand in the Anti-aging, beauty and skin care segments

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. * Do you enjoy our content? Rate our show! * Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Show Notes:

(0:00) Intro
(1:10) Cloudbookkeeping.com
(2:16) Health & Wellness brand: eCommerce skincare product seller
(6:23) The fools Gold of FBA Businesses
(7:20) Understanding the value through market knowlegde
(8:30) No brand loyalty.
(11:15) Amazon FBA as a source of revenue
(15:10) Big Client anecdote
(16:00) In-n-Out
(18:10) Going from eCommerce marketplace to an own domain website & brand value
(21:07) Value forward advisory
(22:02) Amazon FBA eCommercer Brand in the anti-aging, beauty & skin care segments
(23:14) Year established as a red flag
(23:49) Private lable product
(25:27) Margins, cost structure & scaling up on FBA eCommerce
(26:40) Sourcing from India?
(28:19) Large inventory thoughts, contradictions in the listing
(29:29) Should we be mistrustful of this business?
(32:23) The growth is just not possible without a cheat code
(33:41) Is it realistic to acquire 1 eCommerce business a year?
(34:58) Good businesses transact at great multiples

-----

Thanks to our sponsors!

CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth, with a “client service first” approach. They offer a full suite of accounting services that include sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

Value Forward Advisory is a Minneapolis based company that focuses on the growth and eventual sale of mature companies up $15 million in revenues.  They offer Contract CFO, businesses taxes and succession planning.  Owner, Zack Ryan, enjoys this podcast and is happy to support it.

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO

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Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
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For inquiries or suggestions, email us at [email protected]

Want to receive this listing in your inbox? Signup for our weekly newsletter:
https://landing-newsletter.acquanon.com/

-----

Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) are joined by James and Palmer Higgins, Partners at Chenmark (Twitter: @chenholdco) to examine a travel agency/financer deal and a landscape management business.

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Show Notes:

(0:00) Intro
(3:11) Funding Chenmark
(4:45) Employee Ownership Programm
(7:47) Deal 1: High growth Military travel agency and sales finance company
(18:08) Financial risks
(20:48) Timing on the deal
(32:00) Beyond8figures Podcast
(33:13) Deal 2: Landscape management Business
(36:10) Understanding the Business
(37:01) How is the revenue composition?
(39:20) Ownership situation & transition scenarios
(41:55) What makes a good or a bad tuck in?
(47:06) Understanding the equipment & the real estate value
(53:56) Additional thoughts on the value
(55:18) Starting one vs buying one: What would you be paying for?
(56:45) Thinking about culture integration

----

Thanks to our sponsors this week!

CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth, with a “client service first” approach. They offer a full suite of accounting services that include sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

The BEYOND8figures podcast (Beyond8Figures.com) - is a podcast where entrepreneurs and experts speak up on topics related to business and life in general. Each week our guest will have interviewees from different backgrounds to discuss what helped them get ahead while succeeding at entrepreneurship; we'll learn how these people achieved success by exploring personal journeys along the way (both professionally AND emotionally). So if that's interesting to you, make sure you check us out ;).

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

Michael Girdley (@Girdley), Bill D’Alessandro (@BillDA) and Mills Snell (@thegeneralmills) discuss 2 fantastic deals in today's episode. An Online Psychic services company and a K-Pop website.

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Show Notes:

(0:00) Intro
(0:59) Bookkeeping.com
(2:00) Online Psychich Company
(5:24) Financials
(10:18) Finding the value in the deal
(12:05) Where does the traffic come from?
(13:08) Why are marketplaces beatiful?
(18:25) Marketplaces are awesome to have and hard to start
(20:53) What does "90% done" means for software projects?
(24:25) Beyond8figures.com
(25:40) International Media Company - K-Pop
(29:38) Difficulties of the deal
(34:12) Broker red flags of the deal
(38:22) Who would buy this deal?
(40:28) High asking prices and its effect on sellers.

-----

Thanks to our sponsors!

CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth, with a “client service first” approach. They offer a full suite of accounting services that include sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

The BEYOND8figures podcast (Beyond8Figures.com) - is a podcast where entrepreneurs and experts speak up on topics related to business and life in general. Each week our guest will have interviewees from different backgrounds to discuss what helped them get ahead while succeeding at entrepreneurship; we'll learn how these people achieved success by exploring personal journeys along the way (both professionally AND emotionally). So if that's interesting to you, make sure you check us out ;).

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO
#42 $900k Moving and Storage Company / $500k Rural Mini-Storage

--- Support this podcast:

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

How do you make a repeatable, scalable, unbeatable Hiring system? Michael Girdley (@Girdley) walks us through his take on hiring. Save on resources in advance by hiring the best fits for each role.

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Show Notes:

(00:00) - Intro
(01:58) - My story: I got sick of making hires that didn’t thrive
(03:30) - Building a repeatable system
(04:16) - Looking at the data! How to predict a good hire?
(07:06) - Gathering the important and search for existing systems
(10:00) - What makes people really great at a position?
(13:42) - My hiring proces
(14:57) - A-B-C players idea
(18:34) - Hiring sales funnel
(24:02) - Topgrading: Interviewing, reference checking and offer crafting
(31:13) - Culture Index: Science-based personality trait assessment
(34:15) - Criteria: Pre-hire screening assessments
(35:25) - Example process with steps
(39:49) - Complementary readings

Did you like this episode? Rate our show!

Links:

* girdley.com/hiring
* https://www.criteriacorp.com/
* https://www.cultureindex.com/
* https://www.predictiveindex.com/

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#64 How to find the expected benchmarks and KPIs for your industry?
#67 I bought a business. Now what? Learn with us from an expert - Dzmitry Miranovich joins us once more
#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO

Unusual Profits Podcast:

#

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

We're joined this week by Justin Turner (Twitter @JustinNicholasT), Partner at Traction Capital.

He is an experienced finance professional with a background in investment banking, private equity, and corporate development.

This episode was recorded live at @SMB_ash in front of a 100 person audience.

-----

* Do you like our content? Rate our show in your favorite platform!
* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO
#42 $900k Moving and Storage Company / $500k Rural Mini-Storage
#61 Two Manufacturing Businesses for Sale - Brent Beshore - Founder and CEO at Permanent Equity
#24 $5mm pool services and lifeguard staffing co / $2mm septic services business -  featuring baller @WilsonCompanies as a special guest!
#45 $800k/yr cleaning business in Midland, TX / a $565k/yr window cleaning business in San Antonio, TX
#48 Two Landscaping Businesses for Sale - Mike Botkin of Benchmark Group

--- Support this podcast: https://anchor.fm/dealtalk/support

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

This episode is a short session with Dzmitry Miranovich (Twitter: @dzmitry9), he is Co-Founder at Associated Veterinary Partners, which is a roll-up of vet clinics.

We talk about Dos and Don'ts when acquiring a new business and first steps

We'd love your feedback on this episode!

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO
#42 $900k Moving and Storage Company / $500k Rural Mini-Storage
#61 Two Manufacturing Businesses for Sale - Brent Beshore - Founder and CEO at Permanent Equity
#24 $5mm pool services and lifeguard staffing co / $2mm septic services business -  featuring baller @WilsonCompanies as a special guest!
#45 $800k/yr cleaning business in Midland, TX / a $565k/yr window cleaning business in San Antonio, TX
#48 Two Landscaping Businesses for Sale - Mike Botkin of Benchmark Group

--- Support this podcast: https://anchor.fm/dealtalk/support

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

We're joined this week by Steve Divitkos, Search Fund Investor & former CEO of Microdea.

Steve has a background in private equity investing and after attending Business School he funded a Search Fund in 2012. He is originally from Canada.

We examine two Saas businesses currently for sale.

Thanks to our sponsors!

Trout CPA is a full-service accounting firm offering M&A specific services of valuations, quality of earnings studies, and due diligence review services.

The BEYOND8figures podcast (Beyond8Figures.com) - is a podcast where entrepreneurs and experts speak up on topics related to business and life in general. Each week our guest will have interviewees from different backgrounds to discuss what helped them get ahead while succeeding at entrepreneurship; we'll learn how these people achieved success by exploring personal journeys along the way (both professionally AND emotionally). So if that's interesting to you, make sure you check us out ;).

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#42 $900k Moving and Storage Company / $500k Rural Mini-Storage
#61 Two Manufacturing Businesses for Sale - Brent Beshore - Founder and CEO at Permanent Equity
#24 $5mm pool services and lifeguard staffing co / $2mm septic services business -  featuring baller @WilsonCompanies as a special guest!
#45 $800k/yr cleaning business in Midland, TX / a $565k/yr window cleaning business in San Antonio, TX
#48 Two Landscaping Businesses for Sale - Mike Botkin of Benchmark Group

--- Support this podcast:

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]

We're joined this week by Andrew Swiler, CEO, First Principles from Barcelona, Spain.

He's the CEO of First Principles, investments in small businesses, and MicroPE.

We examine a franchisor and a vertical Saas currently for sale.

-----

Thanks to our sponsors this week!

Cloudbookkeeping.com - CloudBookkeeping sets the standard for bookkeeping services. If you run a business, you know the importance of having a reliable team keeping track of your finances and managing the complexities of bookkeeping and payroll. CloudBookkeeping is a team you can call that is responsive to your needs.

CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth, with a “client service first” approach. They offer a full suite of accounting services that include sophisticated reporting, QuickBooks software solutions, and full-service payroll options.

With over 100 years combined experience, the team at CloudBookkeeping provides dedicated financial management services and valuable insights so you can grow your business! Give CloudBookkeeping a call or visit their website at CloudBookkeeping.com to learn more about their custom solutions to strengthen your business.

David C Barnett Small Business Podcast - If you're interested in learning about buying, selling, financing and managing small and medium-sized businesses then you should check out the David C Barnett Small Business and Deal Making Podcast on YouTube and all the major podcast apps. 

David is offering our listeners a FREE copy of his book; 21 Stupid Things People Do When Trying to Buy a Business.  

You can find links to download your copy here:  

https://dbarnett.gumroad.com/l/21stupidthings/aapodcast

-----

* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
* Do you enjoy our content? Rate our show!
* Follow us on twitter @acquanon Learnings about small business acquisitions and operations.

-----

Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

-----

Additional episodes you might enjoy:

#62 Two Landscaping Businesses for Sale - Mike Loftus CEO of Connor's Landscaping
#66 Analyzing Software Businesses for Sale with Steve Divitkos, experienced industry CEO
#42 $900k Moving and Storage Company / $500k Rural Mini-Storage
#

Subscribe to weekly our Newsletter and get curated deals in your inbox

Advertise with us by clicking here

• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at [email protected]