Matt Huggins bought a small water & cable utility doing $200k/year. 15 years later, his holdco is on track for $20m/yr.  Topics in this interview:Matt's decision to step off the academic trackMatt's career as a professional online poker playerTransitioning from poker to small businessAcquiring a utilities company for a group of condosThe surprising complexity of running a utilities companyStarting a manhole lining business The stability and diversity of the water industryAcquiring businesses from retiring owners without needing capitalThe value of a fractional CFOThe reward of helping employeesReferences and how to contact Matt:TwitterLinkedInPeak Group CompaniesAdvanced LiningPeak Water ServicesAdvanced Pump & EquipmentGordo SalesGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

How One Tiny Acquisition Grew Into a Holdco

Buying a business is an amazing path for many successful entrepreneurs. Learn how to buy a business from the entrepreneurs who have already done it. 2x per week: stories, insights, & valuable advice about acquisition entrepreneurship. Hosted by Will Smith, who is on his own path to acquire a business.

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Matt Drndak bought a parts business with a plan to grow it. It worked — he's doubled earnings. But it's taken patience. Topics in Matt’s interview:Losing everything in the Great RecessionHis experience in franchisesBuying an online store for construction equipment partsLeveraging service to stand out from competitorsDetermining the value of the inventoryServing customers with low computer literacyNon-mechanic buying a mechanical parts businessCapturing the seller’s technical knowledge in YouTube videosDoubling revenue in 3 yearsImplementing EOS for future successReferences and how to contact Matt:LinkedInTwitterDHS EquipmentSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

3 Years Later, Climbing Out of the J Curve

Summary from Webflow: The first business Colin King bought was tiny & unpleasant but also the crucial first step to buying more & better ones. Topics in Colin’s interview:Finding his first business (and business partner) on CraigslistDelivering auto parts in the middle of the nightBuying a turnaround silk florals businessWhen his clothing business doubled in revenue overnightDay-to-day logistics of running diverse businessesAcquiring remote businesses: bookkeeping and e-learningImportance of working capital in seasonal businessesPros and cons of having a diverse portfolio of companiesAsking advice for the future of his holdco Finding and managing talent across diverse businessesReferences and how to contact Colin:LinkedInTwittercolin@circlecitycapitalgroup.comCircle City Capital GroupSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

From Midnight Deliveries to $28m Holdco (in 6 Years)

Cody Agee thought food testing would be a good recession-resistant business to buy. 2 weeks later, one listed for sale. Topics in Cody interview:Bypassing business schoolCashing out his 401(k) without using ROBSBuying a food safety and testing labThe moat of licensing requirementsHis advantage over much larger competitorsAdjusting purchase price based on quality of earnings reportFinding investors on TwitterPersonally guaranteeing the seller noteHow he uses EBITDAR vs. EBITDAPutting in an enterprise resource planning (ERP) systemReferences and how to contact Cody:LinkedInTwitter/Xcody@splitmountaincapital.comSierra Dairy LaboratoryDino SawayaSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Finding a Great Business in Cow Country

Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime. Topics in Jeff interview:Switching from high finance to music schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of music vs. danceImportance of general managers in scalingImplementing apps to streamline operationsOther industries with roll-up potentialRolling up 60+ music/dance schools nationwideReferences and how to contact Jeff:LinkedInEnsemble Performing ArtsSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:Smithlist - Operate & Lead a BusinessLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Art of the Roll-Up: 40 Businesses in 4 Years

Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was. Topics in Jarett’s interview:Finding a business through an accountantWhy restaurants are a tough businessComparing military service to running a restaurantBuying a restaurant with exceptional marginsLearning every job in the restaurantPivoting to delivery during CovidDoing a stock deal instead of an asset purchaseReinvesting by adding tables and renovating60% growth in 6 yearsWhat he likes about the restaurant businessReferences and how to contact Jarett:LinkedInLou’s Restaurantjarett@lousrestaurant.comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

How One Tiny Acquisition Grew Into a Holdco

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