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PODCAST

Acquiring Minds

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. Also on YouTube: https://www.youtube.com/@AcquiringMinds Sign up for episode summaries at: https://acquiringminds.co

business entrepreneurship

All Episodes

48:35

Buy Big: How to Acquire a $3m EBITDA Roofing Business

Acquiring Minds ·

2023/05/30

How Austin Smoak raised money from investors to buy a very profitable roofing business that he found on BizBuySell. Topics in Austin's interview:How Goldman Sachs prepared him for business ownershipPassively owning franchisesWhy he recommends local brokers over proprietary searchFinding “business-buyer fit”His plan to scale via roll-upHis philosophy on change managementPros and cons of being funded by a family officeThe scope of his residential roofing businessThe roofing industry in

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68:10

Home Care Business: How to Buy & 2x an Agency

Acquiring Minds ·

2023/05/25

Jérôme Bouillon bought a home care agency doing $500k/yr in 2018. Today it exceeds $1m and he's added a second location. Topics in Jerome’s interview:His cold calling strategyBuying a Visiting Angels franchiseSeeing his employees as his customersThe changes he made immediately to employee benefitsWhy he stopped penny-pinching in the businessWhy it’s important to know how to work in the businessMargins in home careHome care vs. home healthcareHow to scale up in this industryThe benefits of a

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89:07

Overworked & Underpaid: Buying a Business to Escape

Acquiring Minds ·

2023/05/22

Heather Shattuck-Heidorn was a tenure-tracked professor, but wanted out. Buying a business offered freedom & security. Topics in Heather’s interview:What she loved about academiaWhy she initially resisted franchisesHow she found a custom closet franchiseBeing her husband’s employerHer thoughts on capitalismHow small business ownership differs from academiaWhat she likes about owning a franchiseHow she grows her business organicallyLearning to communicate with her employeesHer fetal

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54:10

Learning to Lead: From Searcher to Boss of 140

Acquiring Minds ·

2023/05/18

Having only ever managed a few people when he bought his business, Alex Glasner shares how the trial by fire is going. Topics in Alex's interview:The difference between searching and operatingThe challenge of improving processesHow rapid growth affected the companyRunning the business with a partnerHow the economy impacts his industryHaving the British government as his sole customerIdealism and disillusionment in helping professionsWhy he hasn’t acquired a second businessWhy the first 2

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84:01

Uber Driver to 7-Figure Exit in 3 Years

Acquiring Minds ·

2023/05/15

Ben Bortner couch-surfed, drove Uber, and racked up credit card debt while finding a pool business to buy. It went well. Topics in Ben’s interview:Buying a pool service business, putting in only $100 of his own money for equityChanges he made to employee compensation (and why)Acquiring a second pool businessWhy Ben became certified to do pool maintenance himselfHow Ben improved company cultureWhy he didn’t want to hire a GMSelling his company to Pool TroopersLaunching a fund for self-funded

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72:33

Surviving the Nightmare: Sales Plunge 95%

Acquiring Minds ·

2023/05/11

9 months after Jesse Safir bought a printing biz, Covid cratered it. 3 years later, sales are nearing pre-Covid levels. Topics in Jesse’s interview:Finding ABG Printing by sending direct mailThe value of having a “forgettable” businessRenegotiating his deal before acquisitionThe changes he made in the first 9 monthsCutting 80% of his staff during COVIDManaging cash flow after revenue plunged 95%Staffing post-COVIDHow their printing projects have diversifiedThe landscape of the printing

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48:32

How to Raise Money from Investors to Buy a Business

Acquiring Minds ·

2023/05/08

2 searchers, Kaustubh Deo & Kevin Bibelhausen, share how they found investors to provide money to buy their businesses. Topics in Kevin and Kaustubh’s interview:How Twitter helps searchers learn and networkHow Kevin found investors after his funding fell throughHow they selected investorsWhat a good pitch meeting looks likeHow they communicate with investors post-acquisitionThe power of superconnectors when raising fundsThe size of their cap tablesHow they organized their contacts while

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92:59

How to Buy a $5m Business & Hire an Operator to Run It

Acquiring Minds ·

2023/05/01

It CAN be done: Matthew Saskin recently acquired a big towing business, hiring an operator to run it from day 1. Topics in Matthew Saskin’s interview:Why he chose a towing companyPutting in an operator from day oneImprovements he made right awayWhy he kept his day job (and how he manages it)His COO’s compensation packageWhat is phantom equity (and how it’s different from true equity)How real estate investment is different from SMB ownershipThe landscape of the towing industryRevenue streams

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69:55

The Opportunity in Carve-Outs (and Uncle Sam)

Acquiring Minds ·

2023/04/27

Caroline Chapdelaine seized opportunity when a biomed company needed to sell a $2m unit that made special defense tech. Topics in Caroline’s interview:About the defense contracting industryBuying a business in the defense industry (and why it’s hard)Buying a carve-out businessThe unusual terms of a carve-out dealUnforeseen costs after purchasing a carve-outThe benefits of having partnersAssessing the strategic value of your business to its customersRunning out of money months after

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104:27

Fetal Position to Foundry Holdco ($30m & Counting)

Acquiring Minds ·

2023/04/24

Despite dire warnings against it, Reg Zeller bought a foundry. He's since bought 6 more & sees a clear path to $100m/yr. Topics in Reg Zeller’s interview:Why he bought a foundry (against everyone’s advice)The famous fetal position storyThe importance of a peer groupHis journey from one acquisition to a holdcoWhy searchers should spend 2 years operating the business they buyReg’s plan to get to $100 millionHow to eliminate key man riskHow Reg found his rockstar COOOpportunities in

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67:19

How to 2x Sales in a Service Business You Buy

Acquiring Minds ·

2023/04/20

Adrian Pinto returns to reflect on his 1.5 years as owner of a landscaping business that he's grown from $3m to $6m/yr. Topics in Adrian’s interview:Buying and growing Georgia ScapesGrowth through acquisition in landscaping Doubling revenue in 18 monthsHis B2B sales processCompetition in landscapingCommercial vs residential landscapingMaintenance work vs project workDue diligence for a landscaping companyBeyond EBITDA: evaluating size of business to buyRisks in acquiring a landscaping

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93:39

How to Build a Portfolio of 20 Franchise Locations

Acquiring Minds ·

2023/04/17

Michael Horowitz was looking to buy an independent business when a different path opened up. Today he owns 20 Wingstops. Topics in Michael’s interview:Pros and cons of searching within franchisesWhy Michael was attracted to QSR’s (quick service restaurants)Buying 7 Wingstop locations in OhioWriting an operating agreement for 3 co-ownersDevelopment agreements with franchisesOperating QSR’s during CovidOpening and closing a ghost kitchenDaily operations of owning 20 Wingstop

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78:47

Life as an Operator: Leaving PE to Buy a $2m Tree...

Acquiring Minds ·

2023/04/13

Kaustubh Deo reflects on his first year as the owner of a tree business versus his former life in NYC private equity. Topics in Kaustubh’s interview:Buying a tree service businessBuyer’s vs seller’s discretionary earningsReflecting on 13 months as a business ownerPossibility for roll-upsBeing an outsider in the tree industryChange managementHis thoughts on holdcosMeasuring success for his businessLife as a business owner vs. life in private equityHis advice for searchersLinks and how to

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106:30

From Determined Searcher to $75m Accidental Holdco

Acquiring Minds ·

2023/04/10

Adam Duggins had 650 meetings to find his first business in 2013, not expecting he'd buy 3 more over the next 10 years. Topics in Adam Duggins’s interview:Meeting with 650 people (in person!) during his searchHow Adam found his partner & structured their ownershipHow Adam became a holdco without meaning toHow motivating blue collar workers versus white collar careerists is differentWhy Adam prefers working with blue collar versus white collarBuying businesses in overlooked geographiesA

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43:48

Feast or Famine: How to Grow a Niche Manufacturing Biz

Acquiring Minds ·

2023/04/06

Bruce Vann returns to update us on his manufacturing business, and a thesis around the roll-up of window blinds stores. Topics in Bruce Vann’s interview:Buying a stage curtain/shades businessProfitability of the businessTheir curtain and shades productsAcquiring a blinds companyIntegrating his businessesBruce’s vision for expansionThe possibilities for search in window treatmentsThe feast or famine nature of the businessThe long sales cycleInvesting in a ribbon weight machineBruce’s advice

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87:59

Navigating Failure: Buying a $5m+ Business that...

Acquiring Minds ·

2023/04/03

John Ikalowych shares his traumatic journey of going all-in to buy a hail-repair business, then having to shut it down. Topics in John Ikalowych’s interview:John’s background in commercial bankingBuying a car hail repair businessLosing half his staff just months after acquisitionThe disaster that tanked their financesPivoting from B2C to B2BShutting down the businessHow the business failure changed himClosing a business with a personal guaranteeJohn’s advice to searchersThe importance of

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83:54

Single Mom, 2 Kids, and a $4m Business

Acquiring Minds ·

2023/03/30

Morli Desai left corporate to scratch her entrepreneurial itch, using an SBA loan to buy an ecommerce biz with $1m SDE. Topics in Morli Desai’s interview:Leaving her corporate job at 40Joining the Acquisition LabPurchasing an ecommerce businessHow to approach brokersTransitioning an ecommerce businessPurchasing an Australian entityMarketing with PPCAssessing risk in ecommerceProprietary vs brokered searchInventory management in ecommerceLinks and how to contact Morli:LinkedIn4,000 weeks by

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86:29

6 Months from Twitter Inspiration to $2m Business Owner

Acquiring Minds ·

2023/03/27

Pawel Kosicki learned about buying small businesses in July. By January, he'd bought one himself with 7 figures of SDE. Topics in Pawel Kosicki’s interview:Pawel’s background in engineeringValuation of a home theater/automation companyClosing on his very first LOIFinancing a deal in CanadaHis philosophy on risk in businessThe seller staying on as an employeeMitigating risk in a project-based businessHis plans to grow the businessProjected growth in the home automation industryAdvice for

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37:05

Back to a W-2: When Business Ownership Isn't the Way

Acquiring Minds ·

2023/03/23

Damon Chlarson takes a job in tech sales, despite having improved the business he bought & surviving a tough year. Topics in Damon’s interview:Damon bought Pacific Insulation Supply, an online wholesalerDifficulties in scaling the insulation business. Overview of sales in the first year Getting a regular W-2 job again New systems he put in place at the business Training his sales teamThe challenges of working from homeHow he runs a business with bipolar disorderFluctuation in demand for

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82:53

How to Buy and 2x a Subcontractor Business

Acquiring Minds ·

2023/03/20

Brenden Van Buren is growing his fencing business, despite the industry's notorious cyclicality & project-based revenue. Topics in Brenden’s interview:Brenden’s family history in the construction businessCo-founding Generational Transfer Entrepreneurs The pros and cons of having a pipeline when starting searchWhy the perfect relationship is better than the perfect businessThe risks associated with construction companiesAcquiring Pro Max Fence SystemsHow he doubled sales in 4.5 yearsThe

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433 results

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