E18: Chandler Reed (@ChandlerReedSMB) went from never running a business before to buying his first SMB through a random opportunity on Twitter.

Within the first 12 months he 4 X’d revenue, tripled head count and felt on top of the world. But then the market took a dive, wiping out most of his gains and leaving him with a monster task to turn the ship around.

Fast forward till today and he did just that, and in the process sharpened his entrepreneurial skillset.

Now he’s running a small business accelerator, SMBootcamp, which teaches first time time acquisition entrepreneurs how to acquire a business the right way in 6 to 12 months.

Join host Jake Richards (@JakeMRichards) as he sits down with Chandler to uncover Chandler’s proven business buying system.

Topics discussed:

• Why you should buy not start a business
• The 5 key deal filters for making a successful SMB acquisition
• What are the red flags in an acquisition target to avoid on your search
• Perfecting your search avenues: Broker search vs finding off market deals
• Developing training, processes and checklists to maintain consistency at scale
• How to convince investors to support your business acquisition search as a first time buyer
• How to negotiate a fair price once you’ve found the business that meets your criteria
• How and when to play offence vs defence in business to capitalise on the market conditions

This episode lays out the entire proven system Chandler’s clients have used to buy their first business. If you’re interested in acquisition entrepreneurship you are in for a treat.

Follow along on Jake's SMB journey:

Twitter: @JakeMRichards

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E17: Malcolm Marshall (@MalcolmPools) went from burnout 9-5er working 70 to 110 hours per week, to scrambling stressed out new business owner, to seasoned entrepreneur generating $16 million per year in revenue.

How did he do it?

Building and servicing pools.

But it wasn’t straightforward. In fact, Malcolm’s day one strategy didn’t go to plan. He had to pivot… Big time.

But when it clicked the business took off.

Join host Jake Richards (@JakeMRichards) as he sits down with Malcolm to unpack his pool business journey and pull out the lessons learnt to help you quit your 9-5 and succeed in small business ownership.

Topics discussed:

• How to develop operational excellency in your home service business
• How to build a first class customer experience: The power of small wins
• How to develop a world class training program to build your rockstar team
• Lessons from implementing Gino Wickman’s Entrepreneurial Operating System (EOS)
• The foundations you must know as a new business owner in the pool service industry
• How to launch a $150k/year 1 person pool cleaning business with only $5,000 investment
• The best way to launch a pool service business: Buying an existing route vs starting from scratch
• Why Malcom is 7x’ing his marketing spend in 2024 and how you should think about SMB marketing
• How to transition from start up SMB to premium priced market player without sacrificing sales

This episode is loaded with nuggets of wisdom for entrepreneurs of all experience levels. Whether you’re a burnt out 9-5er looking for a proven path into small business ownership, or a seasoned entrepreneur wanting to take your operation to the next level, Malcolm has just the battle tested advice you need to hear.

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Twitter: @JakeMRichards

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E16: They say everything is bigger in Texas. And today's guest Nolan Gore (@LeadershipAcad1) has built one of, if not the biggest landscaping businesses in Texas. So rest assured we are talking with a serious operator.

But despite the success, Nolan has had his fair share of struggles. And in today's episode he breaks down what uncomfortable realities you are going to need to face if you want to win big in small business, and most excitingly, the battle tested strategies and principles to do so.

From managing the emotional rollercoaster of your first business acquisition to the intricacies of optimising your ideal sales cycle for your unique business model, Nolan's insights are gold for anyone looking to get their start in the SMB space. Learn how to find solid operators, incubate smaller businesses for increased success, and implement systems that really work.

Topics discussed:

• Understanding and navigating the SARAH cycle of emotional change
• How to manage large-scale transitions within your business
• Incubation model for SMB success: Finding solid operators and teaming up
• The uncomfortable realities of SMB ownership and how to prepare yourself
• Systemising your small business for efficiency and growth
• When and how to implement robust systems like EOS
• Excelling in various landscaping business niches
• Optimising your sales cycle to match your unique business model

Nolan also shares his blueprint for creating an $8.5 million per year landscaping operation, offering an authentic look into the challenges and victories of SMB ownership.

This episode is a masterclass from someone who’s been there and done it, providing an honest look into what it takes to run a successful small business. If you're considering launching into the SMB space or are already on your way, this episode is packed with invaluable lessons.

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E15: Have you been overlooking blue collar businesses? If so, you could be missing out on a multi-million dollar opportunity. But to fully capture this opportunity, you need the right 21st century technological strategy.

Join host Jake Richards (@JakeMRichards) as he dives deep with Malcolm Peace (@peace_malcolm), an entrepreneur that specialises in transforming traditional blue collar businesses through technology, remote talent, and strategic planning.

From leveraging AI to systematising operations with virtual assistants, Malcolm shares a masterclass on modernising blue-collar businesses. His insights not only reveal the untapped potential in these industries but also provide a roadmap for small business owners and investors to achieve unprecedented growth.

Topics covered:

• How to implement AI effectively in small businesses
• Key financial metrics every entrepreneur should monitor
• How to use VA’s to document and systemise your operations
• How to conduct industry research when buying a business in a new industry
• 3 actionable steps to motivate and inspire your team to compete at the highest level
• Implementing key performance indicators (KPIs) for staff performance and business health
• Building operational efficiencies through low code, no code software in traditional industries
• The essential tech tools every small business owner should consider to put their business growth on steroids
• What first time business buyers need to know to get due diligence right and avoid buying a dud business

Malcolm’s innovative approach to growth, makes this episode a goldmine for anyone looking to pivot from traditional methods to a tech-savvy, systemised business model.

Don't be the one who underestimates the potential of blue-collar businesses. Let Malcolm Peace show you how these industries offer not just financial upside but also a chance for real meaning and purpose in your entrepreneurial journey.

This episode is a must-listen for anyone interested in leveraging technology to breathe new life into traditional industries, ensuring their legacy and profitability for years to come.

Follow along on Jake's SMB journey:

Twitter: @JakeMRichards

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Resources mentioned:

https://tsetserra.com/

E14: In today’s episode, I dive into the critical steps we've taken to address and resolve the growing pains within our expanding small business.

Facing issues head-on is tough, especially when you're caught up in the day-to-day operations. Yet, ignoring these problems only compounds them, leading to inefficiencies and a frustrated team.

I share a comprehensive three-step process we’ve recently introduced that has transformed how we identify, tackle, and resolve issues, ensuring our business operates more smoothly than ever before.

This is episode is designed to help you become an issue tackling machine in your small business to remove your blockers, unleash your team, and ultimately fuel more growth.

Topics discussed:

• The 3 step process for resolving issues our business just implemented
• Serial entrepreneur Gino Wickman’s 3 types of Issues Lists to help streamline the process
• And the mega simple technology stack I implemented to make this system easy to adopt and manage for the team

This episode is packed with practical insights and strategies that have not only been a game-changer for us but have the potential to revolutionise how you address issues within your own business. Whether you're just starting out or looking to refine your existing operations, these lessons are invaluable.

Enjoy, and let's tackle those issues for good!

Resources referenced in this episode:

• Traction: Get a Grip on Your Business by Gino Wickman

Follow along on my SMB journey:

Twitter: @JakeMRichards

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E13: Have you tried a bunch of different businesses and still haven’t found the one?

Are you yet to him a home run and find your first break out success?

You might want to consider starting, or buying, an ice-cream shop.

That’s what today’s guest Shawn Allard did.

He bounced around from real estate, to a rental car business, to dental consulting.

But he couldn’t get any traction.

So naturally he bought an ice cream shop.

3 locations later, a coffee shop on the way and business buying opportunities flying left right and centre at him, Shawn has found his lane and is expanding rapidly.

Topics discussed:

• How to creatively put together off market deals
• Growth strategies for scaling food and beverage businesses
• How to negotiate seller financing with potential business sellers
• The three foundational buckets to run a food and beverage business successfully
• The three customer acquisition strategies to grow your food and beverage business
• Leveraging the power of small business meet ups to find potential partners, investors and businesses to buy

If you want to get into the food and beverage small business game specifically, or you’re struggling to find the right business to launch your entrepreneurial career,

Shawn lays out the practical game plan with step by step guidance to get firing in this game. Enjoy!

Follow along on my SMB journey:

Twitter: @JakeMRichards

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E12: In today’s episode, I make the counterintuitive case why being ‘unimportant’ as a small business is actually a good thing.

Had I have known this advice earlier I would have grown my last business a lot more than I did.

I would have targeted a totally different market right from the start, with a different offer and made a lot more money.

Now I’m leveraging this knowledge going into the next small business - which I started this week by the way and talked about in this episode.

Topics discussed:

• The top qualities to pursue for your business' target market

• The 2 paths to SMB unimportance and why you should consider them

• Why you should aim to be as financially insignificant to your customer as possible

• What I learnt about nailing an ideal customer profile building a content agency for top 1% content creators

This episode covers the most unexpected, yet surprisingly effective business advice you’re likely to hear this week...

Become unimportant to your customers. Enjoy!

Follow along on my SMB journey:

Twitter @JakeMRichards.

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E11: Tech Venture Capital is the big leagues where billion dollar valuations are the norm and the behemoth companies that we now can’t live without are born. But what do venture capitalists know that the rest of us don't? And what lessons from this space can give us an edge to dominate the world of small business investing and operating.

Today’s guest is as certified as it gets to answer these questions. Today we’re speaking with Elizabeth Knopf, an M&A investor and operator with over 15 years of experience in the tech industry, including 6 SaaS exits - 1 of which was an IPO, scaling a 9 figure tech company to more than $1 billion in ARR, launching an ecommerce marketplace in Latin America to over 7 figures in only 9 months and over +$40M of capital invested. She’s facilitated mega transactions on companies like Facebook and Groupon, and now she’s leveraging her Venture Capital and Start Up skillset to crush small business investing.

Topics discussed:

• Small business deal sourcing best practices

• 3 key reasons to consider a government contracting business

• Career intentionality and seeking upside through equity as an intrapreneur

• How to capitalise on the multi-billion small business tech-tsunami opportunity

• How to build an exit ready business to go from business operator to owner to investor

• Step by step process for building out your small business buying deal sourcing engine

• How to negotiate the transition with the past business owners to protect your downside risk

• Creative strategies to get into deals and transaction opportunities beyond traditional M&A

• Geo-cloning start up strategy for cloning successful US business models in foreign markets

• How to determine whether starting vs buying a business is the right path for you out of your 9 to 5

• How to identify and exploit your unique competitive advantage to maximise your small business acquisition’s potential

This episode breaks down the venture capital industry’s inside secrets and details how to apply them successfully for small business investing.

You are in for a treat with this one. Enjoy!

Follow along on my SMB journey:

Twitter: @JakeMRichards

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E10: In today’s episode, I break down the 5 step process I used to build a remote team for my last business: a content agency

I’ll be honest with you… The first time I tried to build a remote team I failed miserably.

But I overcame problem after problem and painfully up-skilled myself to eventually grind my way towards a system that worked, at least for me.

Thanks to this system I spent the past 4 years living in France and travelling the world.

But you don’t need to be a digital nomad to benefit.

Whether you’re a retail store owner, a manufacturer, a software company, a plumbing business or any other business owner you can imagine, you can use remote talent to grow your operation, cut costs and drive more results.

Topics discussed:

• The top 4 online platforms for sourcing remote talent

• Building your hiring funnel: Job posts vs direct outreach

• 3 part framework for creating efficient systems and processes

• Creating expectation clarity through clear & aligned incentives

• Overcoming communication bottlenecks with remote team members

• $2 million per year remote home service business owner's 6 step framework for writing killer job posts

This episode covers 3 years of hard earned lessons compressed into 20 minutes.

Use it to fast track your success and unlock the golden opportunity of building a remote team. Enjoy!

Follow along on my SMB journey:

Twitter @JakeMRichards.

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Resources mentioned:

• Blue Ocean Strategy Book

• Neel Parekh’s 6 step framework to write a killer job ad

E9: If you’ve read an SMB acquisition book you would have been warned that the search normally takes between 1 to 2 years. But what if you were only 4 months of dedicated focus away from closing on your first business purchase?

Well, today’s guest Zach Smith (@RZachSmith) not only proves it’s possible, but he also lays out the blueprint of how you can do the same.

The best part is this conversation was recorded only 2 months after Zach had taken over his new business. All of the highs and lows of the business buying process, as well as the strategies that worked best, were fresh in his mind.

Topics discussed:

• Process debt: The downside of buying an existing business

• Modelling your risk profile to nail your ideal business acquisition

• Transitioning from consultant solopreneur to acquisition entrepreneur

• Acquiring ‘Uber-esque’ companies with a marketplace business model

• Aligning your corporate skillset to your ideal business growth opportunity

• Negotiating seller financing with incumbent business owners

• Pros and cons of asset purchase vs stock purchase in acquiring businesses

• The most important question to ask yourself throughout the acquisition process to stay on track

If you’re in a regular 9 to 5 job right now, but the idea of buying a business excites you - you could be in Zach’s position in 6 months from today simply by executing the lessons from this podcast and the resources recommended by Zach.

Follow along on my SMB journey:

Twitter @JakeMRichards

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