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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

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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80:09

How to Build a Holdco Foundation: Patiently

Acquiring Minds ·

2025/02/27

Register for the webinar:5 Stages of the Business Buying Process - Thu March 6 - https://bit.ly/435spfeBarker Squire has grown his crane servicing business gradually over 6 years. Now he turns his attention to what's next.Topics in Barker’s interview:Leading teams in the Marine CorpsGetting a conventional loan instead of SBAKeeping his ears open in seller meetingsPros and cons of government contractsEmployees walking outStaying safe in a dangerous jobThe owner staying as an employeeGrowing

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88:53

Back from the Brink: When Everybody Quits Day 1

Acquiring Minds ·

2025/02/24

Register for the webinar:First 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hFqGle24 hours into Jack Carr's ownership of a tiny HVAC business, disaster struck. Just 2.5 years later, it did $3m in sales.Topics in Jack’s interview:All HVAC techs quit on the first dayBuying an HVAC business with no physical locationWhy he feels like his 2x multiple was too highTeaching himself HVAC skills via YouTubeHow he prices a book of businessHis process for

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103:36

How to Buy & Transform a 120-Year-Old Manufacturer

Acquiring Minds ·

2025/02/20

Register for the webinars:Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3QjGZYRFirst 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hCxC2GSubscribe to the new podcast, Meeting of the Minds:On YouTubeSpotify & Apple links coming soon!Lucas Philips bought a niche manufacturer with $200k SDE, aiming to make it an ecommerce/DTC business. It's working.Topics in Lucas’s interview:How his startup mindset influenced his

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112:22

Behind Every Great Searcher: A Wife's Journey with...

Acquiring Minds ·

2025/02/17

Register for the webinars:Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3X1BqSQSubscribe to the new podcast, Meeting of the Minds:On YouTubeSpotify & Apple links coming soon!Cliff & Christine Nelson navigated him buying a big but remote business while she was pregnant, then a first-time mom.Topics in Cliff and Christine’s interview:Highs and lows of the 2-year searchCliff quitting his job right before CovidBecoming parents and closing on a business the same

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79:57

Networking His Way to $800k SDE

Acquiring Minds ·

2025/02/13

Register for the webinars:Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/4aOwtlMUsing a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/4hQbn9eIt took Alex Holley a few months of daily meetings to find a $4.5m home services business in his local Louisville, KY.Topics in Alex’s interview:Networking through 100 meetings in 4 monthsBuying 2 businesses at onceLearning how to run a crewGoing on jobs to learn about the workLeaving consulting for blue-collar

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70:28

Buy, Grow, Exit for a 24x Return in 3.5 Years

Acquiring Minds ·

2025/02/10

Register for the webinars:Legal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/414vOtcUsing a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/42I4dPYFormer guest Chris Edwards has sold the $1.7m flooring business he bought with $200k of his own money and an SBA loan.Topics in Chris’s interview:Why he chose to sell his flooring businessDeciding not to rebrandOwning and operating in a small, isolated townA countertop acquisition that went southHow a holdco is different

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84:27

How to Lead a Trades Business Without Knowing the Trade

Acquiring Minds ·

2025/02/06

Register for the webinars:5 Stages of the Business Buying Process - Thu Feb 6 - https://bit.ly/4aNHmEzLegal Aspects of Debt Financing - Thu Feb 13 - https://bit.ly/3PXBEX6Industry-agnostic Trip Biesanz brought his sales skills to a glass fabrication & install business doing $3m in revenue.Topics in Trip’s interview:Being a franchisee for 7 yearsNetworking through MBBI and XPXWorking with Calder Capital to find a businessNarrowing down his search to constructionValue he saw in long-term

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