Take the Business Buyer Readiness Assessment →  

In this interview, I talk about the things I learned from buying and selling a 7 figure food distribution business. The sale was a distressed situation and I had to make a lot of sacrifices, but I learned a lot in the process.

93 episodes in I am still trying to get the audio right. 


SHOW NOTES:
00:00  Intro
00:33  Mike's Origin Story - the push to Acquisition Entrepreneur 
02:05  What type of investors backed him 
02:55  The Offer from the FO
05:03  Sacrifices to be Acquisition Entrepreneur 
07:17  Did seller present a factual distressed situation or were they being unscrupulous
09:09  Sharks circling - Blood in the water
10:51  Losing accounts
12:17  What happens to business when seller is loses passion
13:00 Sweaty Startup Twitter
13:32  Due Diligence - how he should have structured the deal
15:39  When 80% of revenue from 20% of customers - RISK
16:44  Reality sets in - TRIAGE & Recap Time - Pivoting
19:18  Where did the new idea, to save the company, come from?
21:43  How long to turn around plan take?
22:57  What did end goal margins, ROI look like?
24:01  What food products did you focus on?
25:34  Scrapping and Clawing back to profitability 
26:33  The sacrifice and transformation
27:25  2 Acquisitions and Selling the Business
29:20  Selling to a Strategic
31:33  What was nature of relationship with FO?
32:10  New Role: Investment Banker Restructuring Learning from Stupidity
34:00  Did you think about quitting - what to tell yourself