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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

85:05

How to Recover from a Fraudulent Seller

Acquiring Minds ·

2025/05/08

Register for the webinar:Deal Structuring Under the New SBA Rules - TODAY May 8th - https://bit.ly/4jFLpX2Jason Jackson thought he bought a $1.5m SDE dental practice. In fact, the business was losing money & engaging in fraud.Topics in Jason’s interview:Value of pattern recognition in businessMissing fraud despite $400k of due diligenceTurning around a business with negative EBITDAWhen to fire a top performerFixing a broken work cultureWhy he decided not to sue the sellerHands-on

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87:01

Turning a $250k Investment into $7m+

Acquiring Minds ·

2025/05/05

Register for the webinar:Deal Structuring Under the New SBA Rules - Thu May 8 - https://bit.ly/4m7VH47Marvin Karlow & his partner bought a powder-coating business with $500k in equity. 8 years later, they sold it for $21m.Topics in Marvin’s interview:Going from corporate to blue collar businessBuying a business with his best friendPicking a lane and staying in itBiggest customer slashing prices right after transitionPutting personal money into the businessLosing a major customerThe

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118:17

Buying a Remote, 20-Year-Old Business with $900k of SDE

Acquiring Minds ·

2025/05/01

Register for the webinar: Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4jreo0UDan Angel knew he wanted to buy this B2B travel company with $3m top line. But the sale would shock the key number-two.Topics in Dan Angel’s interview:Leaving his dream career at a hedge fundComing in a little too hot as the new ownerAdding 3 offshore employeesGrowth isn’t freeRunning a fully remote teamTrying to change the world by 9:00 amTopics in Jayme Moylan’s interview:Her 15 years working for

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84:29

21 Months to Stability Buying a $1.2m SDE Business

Acquiring Minds ·

2025/04/28

Register for the webinar: Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4k8HKBdJan Roll bought a $6m residential contractor, a harrowing experience he calls one giant ambiguous ball of figure-it-out.Topics in Jan's interview:Contracting means learning 25-30 tradesMargin of safety in a residential construction businessValue of paying vendors immediatelyEngendering trust in a low-trust industryRevenues dropping 25% in first year of ownershipUsing ROBS to buy the businessPitfalls

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105:27

How to Build a Niche Holdco with $2m in Earnings

Acquiring Minds ·

2025/04/24

Register for the webinar:Anatomy of a Franchise Holdco - Thu May 1st - https://bit.ly/3RWj0QhIn 2019, Matt Kopp bought a supplier to elementary schools with $350k SDE. 6 years later, he has a portfolio of them.Topics in Matt’s interview:Business buying market in AustraliaEliminating interruptions at workTracking email open rates to improve his outreachBuying a science class supplierChallenge of selling to schools without a relationship Overcoming people problems during transitionWeathering

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98:03

Hiding in Plain Sight on BizBuySell: $800k SDE for 2x

Acquiring Minds ·

2025/04/21

Register for the webinar:Should You Buy a Business? A Live Panel with Lab Members - Wed Apr 23rd - https://bit.ly/3EBvXvNJoe Ziolkowski found the deal of a lifetime — a $10m manufacturing business — by expanding his filters on BizBuySell.Topics in Joe’s interview:Investing with a friend in real estateBacking out of a Mr. Rooter dealAcquiring a restoration businessDealing with insurance in restorationMaking a bad operations hireSelling the business at a profit after 6 monthsAcquiring a wood

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98:59

How to Build a $100m Holdco: The Power of ESOPs

Acquiring Minds ·

2025/04/17

Register for the webinar:Licenses & Regulatory Issues in Acquisitions - Thu April 17th - https://bit.ly/4i7vsY5With 300 employees across 5 companies, the holdco that Chris Fredericks is building has an uncommon feature at its core.Topics in Chris’s interview:What is an Employee Stock Ownership Program (ESOP)?Finding purpose and meaning at workConcept of dignity at workWhat ESOP employees do and don’t vote onUsing an internal podcast to communicate about employee ownershipMitigating

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86:03

How to Reinvent a $1m Candle Manufacturer

Acquiring Minds ·

2025/04/14

Register for the webinar:Licenses & Regulatory Issues in Acquisitions - Thu April 17th - https://bit.ly/3G9vf9FAdam Goldberg had to adapt his corporate approach after buying a nearly-closed manufacturer whose sales were down 80%.Topics in Adam’s interview:Building & exiting a wholesale costume jewelry businessDeciding he was too young to retireAcquiring a small, distressed candle businessNever go into business with friendsMistakes in over-hiringTrying to be an absentee

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79:22

Stars Align After 4 Broken Deals

Acquiring Minds ·

2025/04/10

Register for the webinar: 5 Stages of the Business Buying Process - Fri Apr 11 - https://bit.ly/4ljGigoKeegan Dum wound down his search fund after 2 years without a deal, but he went on to acquire & create a great outcome. Topics in Keegan’s interview:Choosing traditional searchNo deal after 2 years of searchingSelling the business after 18 monthsFinding a business on his own through consultingRole of software in car washes & auto shopsRenegotiating terms with previous investorsLow

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86:19

When Buying a Retail Business Makes Sense

Acquiring Minds ·

2025/04/07

Register for the webinar: 5 Stages of the Business Buying Process - Fri Apr 11 - https://bit.ly/4ji2UMuKen Eyjolfson looked at tons of businesses before deciding on a mattress outlet with $500k SDE and 700 5-star reviews. Topics in Ken’s interview:8 years with the Soccer Shots franchiseSpending too long searching for the perfect dealBuying a discount mattress retailerHow the Canadian mattress industry worksBuying from a “shady seller”Getting the lowest wholesale mattress pricesStarting with

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88:52

FedEx & Fencing: A Pivot into Ownership

Acquiring Minds ·

2025/04/03

Register for the webinar:5 Steps to the Business Buying Process - Thu April 10th - https://bit.ly/41RC4oNAfter his foray into SMB ownership went well with FedEx routes, Matt O'Brien bought & doubled a $2.5m fencing business. Topics in Matt’s interview:Buying and expanding FedEx routesNuances of buying a FedEx routeSelling his routes at peak value during CovidAcquiring a commercial fencing businessKeeping the seller’s son on as presidentInjecting more money for working capitalImpact of

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78:11

Why Buy a Travel Agency (Because They Can Crush It)

Acquiring Minds ·

2025/03/31

You thought the internet killed them off, but the travel agency Jared Benoff bought does $1m SDE by dominating a niche.Topics in Jared’s interview:His 9.5 year stint at Twitter/XHelping his dad with the family businessBuying his parents’ destination wedding businessEvolution of travel agenciesHis dad’s successful YouTube videosAdvantages of buying the family businessStanding out with customer serviceThe pain of 4-star reviewsWorking with a loan brokerBuying for 2x SDEReferences and how to

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80:02

Deciding to Start, Not Buy, a Small Business

Acquiring Minds ·

2025/03/27

Initially drawn to buying a business, Kevin Moyer instead decided to start a project-based blue collar business instead.Topics in Kevin’s interview:Is the franchise fee worth it?Buying 3 de novo Smash My Trash territoriesHis appreciation for reversible decisionsA small business is an extension of the ownerRecurring revenue is overratedSimple is nice, but complexity is a moatStarting a business with his friendAdvantages of having a business partnerResiliency of physical world

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84:57

How to Buy a Multinational

Acquiring Minds ·

2025/03/24

Register for the webinar: How to Reduce Surprises with Operational Diligence - Wed Mar 26 - https://bit.ly/4hxp0tj Seeking a fit with his industrials experience, Adam Salmen bought an 8-figure business with locations around the world.Topics in Adam’s interview:Looking beyond “arts and crafts” businessesPartnering with Novastone to search and acquireAcquiring a multinational industrial companyChina's dominance in steel productionTariffs and the steel industryCrowdfunding attempt that

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117:05

Lessons from 24 Acquisition Nightmares

Acquiring Minds ·

2025/03/20

Register for the webinar:How to Reduce Surprises with Operational Diligence - Wed March 26 - https://bit.ly/4igNOqzAfter his acquisition failed, Jed Morris connected with dozens of others who'd experienced the same. There are patterns.Topics in Jed’s interview:Pivoting from Air Force to techInterning for the company he boughtAcquiring 2 landscaping companies a few weeks apartInsurance cost increased 30% after acquisitionPros and cons of long-term employeesMisjudging his employability Going

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97:33

From Tech Sales to Forklift Repair

Acquiring Minds ·

2025/03/17

Register for the webinar:How to Reduce Surprises with Operational Diligence - Web March 26 - https://bit.ly/4kVYn3URecently laid off and a baby on the way, Shaugn Lindley pivoted into SMB ownership by buying a business with $550k SDE.Topics in Shaugn’s interview:Getting laid off from techReaching out to 600 local landscaping companiesFinding a mentor through Acquiring MindsWhy he decided against landscapingAcquiring a forklift repair businessThe importance of follow upBeing the second best

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80:46

Building a Beloved Brand from a Tiny, Dying Business

Acquiring Minds ·

2025/03/13

Register for:Employee Issues & Non-Competes When Buying a Business - Thu March 13th - https://bit.ly/41vg9SLThe live Q&A with Harley on March 27th - https://bit.ly/43vYX24Harley Sitner bought a struggling VW van repair shop for $100k in 2013. Today it's an 8-figure business and brand.Topics in Harley’s interview:His career in softwareFirst business acquisition: West Coast NurseriesSean buys a VW Camper Van"I'd rather hug 100 people than serve a billion"Irrational passion of VW van

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91:01

The Appeal (and Risk) of Buying a Consulting Firm

Acquiring Minds ·

2025/03/10

Register for:Employee Issues & Non-Competes When Buying a Business - Thu March 13 - https://bit.ly/3F6dasGThe live Q&A with Nick on March 25th: https://bit.ly/3DoZfgDIndustry outsider Nick Munsee bought a traffic engineering firm for a good price, carefully de-risking the acquisition.Topics in Nick's interview:Managing from out of stateThe white whale: a deal that almost happenedLessons from a failed acquisitionFinding Hales EngineeringUnderstanding the traffic consulting

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87:33

Why Treat an Acquisition Like a Startup

Acquiring Minds ·

2025/03/06

Register for the webinars:5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/3QEgIoAEmployee Issues & Non-Competes When Buying a Business - Thu March 13 - https://bit.ly/4koXrFbLive Q&A with Sean Daly - Tue March 18 - https://bit.ly/41yzjZ7Day 1 changes? Yes please. Sean Daly brought a spirit of experimentation, iteration, and speed to a small HVAC business.Topics in Sean’s interview:Founding and exiting his own companyGoing hard with cold outreachHiring an

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109:59

Buying in a Small Market, Building a Regional Powerhouse

Acquiring Minds ·

2025/03/03

Register for:Live Q&A with Jonathan Bournigal - Thu March 19 - https://bit.ly/41lwPwcWebinar: 5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/41m0o0iJonathan Bournigal returned to his native Dominican Republic to buy a business. He found a small one and has 6x'd it.Topics in Jonathan’s interview:Boomer-owned businesses vs family-run businessesAvoiding the label of “tire kicker”Searching in a country the size of Rhode IslandWhy multiples are higher in the Dominican

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434 results

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