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Michael Girdley (@Girdley) is joined by Patrick Dichter (@patrickdichter) to talk about how he went from working in sales to acquiring his own accounting firm. We talked about 2 deals, a cloud accounting firm and a marketing company. Patrick used e-mail cold reaches during his search and shares his process to maximize outreach, why he decided on an accounting firm, and more.
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Show Notes:

0:50 - Microacquire
2:48 - Intro - Patrick Dichter
4:34 - Why did you transition from a W-2 employee to a searcher?
6:17 - How was your search process?
7:31 - What was your strategy to find a deal 
8:38 - Who is running the operation today?
9:45 - How to cold reach potential sellers through e-mail? -  Applying sales experience to a search 
11:16 - What would you do differently to improve your response rate? 
12:34 - Deal 1: A cloud bookkeeping accounting firm
15:07 - What’s interesting about this Deal?
17:12 - What are profit margins typically for these companies?
18:43 - How do you think about the cyclicality of start-ups as a customer?
19:59 - Yellow flags on this deal
23:41 - How do we think about different accounting firms and their services?
26:20 - How would you grow this business? What barriers do you see? Would you recruit overseas talent?
30:06 - Could we raise prices? Does this apply for an SBA Loan?
32:06 - Any other considerations? What about revenue mix & seasonality on the cash flows?
36:24 - Deal 2: Niche Digital Marketing Agency
39:27 - What is their business model? What would make it interesting?
41:44 - What happens with labor retention in these companies?
43:50 - Financials, growth concerns & due diligence focus
46:59 - How is the business-customer relationship on this Deal?
48:53 - Why is this so pricey? How would we structure this financially?
52:33 - Connect with Patrick

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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.

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