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Acquiring Minds
Will Smith
383 episodes
1 day ago
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
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Entrepreneurship
Business,
Investing
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All content for Acquiring Minds is the property of Will Smith and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
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
Show more...
Entrepreneurship
Business,
Investing
Episodes (20/383)
Acquiring Minds
Reviving a Covid-Crushed Business: $0 to $6M in 3 Years

Adam Rao took a chance on an exhibit production business that had generated zero revenue in 15 months. It's gone well.

Topics in Adam’s interview:

  • Discovering impact companies
  • Acquiring with a business partner
  • Buying a distressed business during Covid
  • Getting 100% seller financing
  • Inheriting an angry, dysfunctional staff
  • A brutal first 9 months
  • Acquiring an add-on with an SBA loan
  • His role as the visionary
  • Achieving stability by merging companies
  • Reducing waste in a high-waste industry

References and how to contact Adam:

  • adam.rao@triple20.co
  • LinkedIn
  • Triple20

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
22 hours ago
1 hour 21 minutes

Acquiring Minds
Scaling a Tiny Acquisition to a PE-Backed Exit

Phil Miller turned a tiny pet shop doing $100k in sales into a regional pet boarding brand — and the ideal PE platform.

Topics in Phil’s interview:

  • Pivoting from real estate to the pet industry
  • Slow renovation creating a financial mess
  • Delegation is the key to growth
  • The real cost of a cheap turnaround
  • Building a pet resort brand
  • Accelerating growth with Store Capital
  • Why franchising is a poor option in his industry
  • Dealing with tire-kicking searchers
  • Partnering with private equity
  • Emotional rollercoaster of combining cultures

References and how to contact Phil:

  • LinkedIn
  • Pawville
  • Buy Back Your Time by Dan Martell
  • Taylor Wallace - first appearance on Acquiring Minds: Buying Doggy Daycares After 10 Years in Tech
  • Taylor Wallace -  second appearance on Acquiring Minds:Why Sell to Private Equity: Former Guest Has an Exit
  • Store Capital

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
4 days ago
1 hour 50 minutes

Acquiring Minds
New Way to Pursue ETA: Searcher-in-Residence

Register for the webinar:

  • How to Offshore in a Blue Collar Business - July 1st - https://bit.ly/406jR5k

Matt Brunnig hired aspiring SMB owner Kevin Peer for special projects, strategy & more at his $3m manufacturing holdco.

Topics in Matt & Kevin’s interview:

  • Searching for a wife and a business
  • Overcoming the fear of uncertainty
  • Locally searching in St. Petersberg, FL
  • Long term payoff of bringing donuts
  • Quickly growing through marketing
  • Using Pinterest to stoke demand for their product
  • Introducing the Searcher in Residence concept
  • Trade-offs and benefits for the SIR and owner
  • Additional acquisitions in manufacturing
  • Running the holdco with Traction

References and how to contact Matt & Kevin:

  • Matt’s LinkedIn
  • Kevin’s LinkedIn
  • Sunrise Yacht Products
  • JJ Plastics
  • Custom Quality Covers
  • Traction by Gino Wickman
  • Kevin's one-pager

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 week ago
1 hour 56 minutes

Acquiring Minds
From Stalled Search to $750k SDE: The Power of Speed

Register for the webinar:

  • How to Offshore in a Blue Collar Business - July 1st - https://bit.ly/406jR5k

A friend pressed Grania Michel to change her search as if she had to close in 4 months. She was under LOI 2 weeks later.

Topics in Grania’s interview:

  • Operating a business in Ecuador
  • Emotional ups and downs during the search process
  • Keeping her search private in the beginning
  • Sending LOIs as quickly as possible
  • Acquiring a commercial printing business in Miami
  • Managing the deal process, debt consolidation, and equity structuring
  • Translating her day one speech to Spanish on the fly
  • Losing key employees after transition
  • Why she recommends buying all the accounts payable
  • Building a long-term legacy for her daughters

References and how to contact Grania:

  • LinkedIn
  • Associated Photo & Imaging
  •  Tripp Lawson and Mike McCoy at Viking Mergers
  •  Joe Spina and Taylor Gorman at Cullen and Dykman
  • AppleTree
  • Josh Richman at NewCo Risk
  • Aspen HR
  • Jared Johnson of First Internet Bank
  • Search Fund Coalition

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 week ago
1 hour 21 minutes

Acquiring Minds
The Path from $2.5m to $60m in a Tree Business

Register for the webinar:

  • How to Offshore in a Blue Collar Business - July 1st - https://bit.ly/406jR5k

Brian Hartman 3x'd revenue in 2 years at the tree business he bought, then partnered with an investor to grow even more.

Topics in Brian’s interview:

  • Picking up the phone is crucial
  • Growing so fast the wheels nearly came off
  • Hiring top-tier managers and ops staff early
  • Managing cash flow and receivables through growth
  • Expanding via acquisition, starting in Dallas
  • Ensuring safety for employees
  • Partnering with another Acquiring Minds guest
  • Aiming for $55–70M in revenue by 2030
  • Buying a business with baby #3 on the way
  • How landscaping is different from tree service


References and how to contact Brian:

  • LinkedIn
  • Northside Tree
  • brian@northsidetreeprofessionals.com
  • Webinar with Brian: Should You Buy a Business?
  • Adrian Pinto and Mike Botkin on Acquiring Minds: One Acquiring Minds Guest Buys Another
  • Adrian Pinto #2: Building a Blue Collar Empire
  • Adrian Pinto #1: How to 2x Sales in a Service Business You Buy
  • Will Gano on Acquiring Minds: After 4 Years of Part-Time Searching, Success
  • John Wilson on Acquiring Minds: Buying Small, Growing Big: From $1m to $26m

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
2 weeks ago
1 hour 28 minutes

Acquiring Minds
How a First-Timer Pulled Off a $52m Acquisition

Register for the webinar:

  • How to Offshore in a Blue Collar Business - July 1st - https://bit.ly/406jR5k


With no PE background, Nick Huber had to learn quickly as he raised money to acquire a fast-growing offshoring agency.

Topics in Nick’s interview:

  • Origin of the Sweaty Startup guy
  • Nick’s role in Support Shepherd’s growth
  • Backstory of the Support Shepherd deal
  • How Nick structured incentives to make it worthwhile
  • What turned off investors
  • Inbound leads collapsing in year 1
  • Is building a Twitter following worth it?
  • Big changes to the business since acquisition
  • The value (or not) of distribution
  • Annual cost and org chart of Nick’s media team
  • Why write a book

References and how to contact Nick:

  • LinkedIn
  • nick@sweatystartup.com 
  • Sweaty Startup by Nick Huber
  • Somewhere.com

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
2 weeks ago
1 hour 44 minutes

Acquiring Minds
The $60k Acquisition that Grew to a $77m Exit

Register for the webinars:

  • DO’s and DON'Ts of the LOI - Jun 17th - https://bit.ly/441EocM
  • How to Offshore in a Blue Collar Business - July 1st - https://acquiringminds.co/hiring


Kevin Ramsier bought a "guy in a truck" business for radon mitigation. 10 years later it was a multi-state franchise.

Topics in Kevin’s interview:

  • Finding ways to earn money as a kid
  • Bouncing back from early career setbacks
  • The Wall Street Journal ad that changed everything
  • Turning around a bankrupt concrete business
  • Building and scaling a radon mitigation company
  • Using franchising to manage growth and quality control
  • 3 questions that transformed his life
  • Transitioning into the role of an independent sponsor
  • Investing in people instead of public markets
  • How he teaches his kids to value money

References and how to contact Kevin:

  • LinkedIn
  • Sier Capital Partners

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
3 weeks ago
1 hour 11 minutes

Acquiring Minds
Hometown Holdco: Geography as Moat

Register for the webinar:

  • SBA Loans 101 + Program Updates - Jun 12th - https://bit.ly/3FGQIqB

Sarah Chiles & Matthew Ferguson left careers in VC to buy the only auto repair shop for 35 miles in their native Aspen.

Topics in Sarah & Matthew’s interview:

  • Backgrounds in engineering and VC
  • Preserving local fabric by buying businesses
  • The “tackle shop” nature of businesses in small towns
  • Seasonality in a small resort town
  • Gaining the respect of employees
  • Vision of a hometown holdco
  • Crisis management when their operator left
  • Modernizing and restructuring the auto repair business
  • Finding out what each employee wants
  • Long-term commitment to Aspen 

References and how to contact Sarah & Matthew:

  • Sarah’s LinkedIn
  • Matthew’s LinkedIn
  • Aspen Total Automotive
  • Shop Fix Academy
  • STM Holdings
  • Adam Markley on Acquiring Minds: Getting Reps: Helping Others Look at Deals Led to a Holdco
  • Cassi Niekamp on Acquiring Minds: Buying a $1.2m Fencing Business & Earning Trust Quickly

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Producer by Pam Cameron

Show more...
3 weeks ago
1 hour 41 minutes

Acquiring Minds
Evolving a Legacy Business to $3.2m EBITDA

Register for the webinar:

  • SBA Loans 101 + Program Updates - Jun 12th - https://bit.ly/4jG0FSV

After Evan Stewart found his footing in his printing business, he pushed it from $1.8m to $3.2m EBITDA in under 2 years.

Topics in Evan’s interview:

  • Experience in the Acquisition Lab
  • 6 months of imposter syndrome
  • Earning the right to be heard
  • Changes in direct mail printing technology
  • Standing out amongst fierce competition
  • His wife joining the business
  • Moving his family to be closer to the business
  • Accepting investment from friends and family
  • Putting a lien on his house to get the loan
  • Buying into a shrinking industry

References and how to contact Evan:

  • LinkedIn
  • Direct One
  • Alex Holley on Acquiring Minds: Networking His Way to $800k SDE

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited By Anton Rohozov
Produced by Pam Cameron

Show more...
4 weeks ago
1 hour 23 minutes

Acquiring Minds
How to Build $7.5m in Net Worth by Buying a B&B

Register for the webinar:

  • How to Outsource Your Search: Understanding Buy-Side Advisory - Jun 5th - https://bit.ly/43PpR4R

Christine Traylor is bringing entrepreneurial ambition to a business often dismissed as a side gig for retirees

Topics in Christine’s interview:

  • Pivoting from international development to business owner
  • Acquiring a historic B&B in Dupont Circle 
  • A seller who refused to negotiate on price
  • Living on site with her family at the B&B
  • Calculating the value of the real estate
  • Raising 2 small children in their business
  • Long, frustrating buying process
  • Combining SBA, conventional loan and seller note
  • Difficulty in hiring an innkeeper
  • Standing out amongst the hospitality competition

References and how to contact Christine:

  • LinkedIn
  • christine@swannhouse.com
  • Swann House
  • Instagram

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 29 minutes

Acquiring Minds
How to Grow Revenue 50% in Year 1

Register for the webinar:

  • How to Outsource Your Search: Understanding Buy-Side Advisory - Jun 5th - https://bit.ly/44XWwX3

JD Hasley bought an upscale frame shop doing $600k. One year later, he's returned all his equity & grown it to $900k.

Topics in JD’s interview:

  • Finding his business on broker’s own website
  • Buying a retail frame shop
  • Why DFW is a great location for a frame shop
  • Learning to do the framing himself
  • Standing out by answering email quickly
  • Getting customers to pay in full up front
  • 50% growth in the first year
  • Online marketing to drive revenue
  • How frame shops scale
  • Empowering employees to implement change

References and how to contact JD:

  • LinkedIn
  • hasley@uptownframe.com
  • Uptown Frame

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 21 minutes

Acquiring Minds
The Entrepreneur Awakens: Pivoting from Tech to Ownership

Register for the webinar:

  • How to Outsource Your Search: Understanding Buy-Side Advisory - Jun 6th - https://bit.ly/43q0JQR

Kin Sio first tried real estate as he explored a path out of tech, but buying a business was his ultimate destination.

Topics in Kin’s interview:

  • Immigrating from China
  • Pivoting from tech to entrepreneurship
  • Wanting more flexibility to care for family
  • Deciding against using ROBS
  • Running his Hawaiian business from Seattle
  • Plans to expand to the mainland
  • Building and maintaining a company culture
  • Converting seller hours to human hours
  • Managing hotel room pricing
  • How culture influences risk taking

References and how to contact Kin:

  • LinkedIn
  • Lights On
  • Doug Johns on Acquiring Minds: Opening Up to Franchises to Buy a Great Business

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 48 minutes

Acquiring Minds
Quitting Consulting to Buy a $1m SDE Agency

Register for the webinar:

  • Buy a Business, Not a Fantasy: Addressing This Month’s 7 Most Common Buyer Concerns - Wed May 28th - https://bit.ly/43u7oto

When Julia Hensel decided to pursue entrepreneurship, husband Grant helped her find a remote business with a great team.

Topics in Grant & Julia’s interview:

  • Julia’s background at BCG
  • Grant’s many zero-to-one businesses
  • Key lessons learned from failed LOIs 
  • Why they avoided SBA loans
  • The acquisition of Lexigate and what made it the right fit
  • Standing out in a competitive process
  • Is AI destroying SEO?
  • Meeting clients and employees before purchase
  • Transitioning from BCG to business ownership
  • Leading a mostly Romanian team

References and how to contact Grant & Julia:

  • Julia’s LinkedIn
  • Grant’s LinkedIn
  • Lexigate
  • Nonprofit Megaphone
  • Entrepreneurial Capital
  • The Culture Map by Erin Meyer

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 27 minutes

Acquiring Minds
Rebuilding from 80% Collapse to Mid-7 Figures Revenue

Register for the webinar:

  • Use an SBA Loan to Start a Roll-Up - TODAY May 22nd - https://bit.ly/4jgfQSY

Covid forced Scott Alexander to pivot & rebuild the marketing agency he'd acquired just one year earlier. It worked.

Topics in Scott’s interview:

  • Buying a digital marketing agency
  • Disappointment with the seller
  • Understanding customer churn
  • Post-transition surprises with bookkeeping
  • Turning around a bad company culture
  • Wartime CEO vs Peacetime CEO
  • Revenue devastated during Covid
  • Rebranding and redirecting the company
  • Using Facebook for medical sales
  • Marketing Agency 101

References and how to contact Scott:

  • LinkedIn
  • Jason Andrews on Acquiring Minds: How I Bought & Sold a Healthcare Business for 8 Figures
  • Scott@jairusmarketing.com
  • Jairus Marketing

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 44 minutes

Acquiring Minds
Buying $5m of Revenue with $50k of Equity

Register for the webinar:

  • Use an SBA Loan to Start a Roll-Up - Thu May 22nd - https://bit.ly/4kj566X

Devin Fitzgerald bought two businesses after one sentence changed his life: It's easier to buy revenue than create it.

Topics in Devin’s interview:

  • Business is just solving problems
  • It’s easier to buy revenue than create it
  • Losing 8 months to a dead deal
  • Buying 2 declining businesses
  • Turning around a bad work culture
  • Herding sellers to the finish line
  • How the new SBA rules affected his second acquisition
  • Honoring his grandmother’s memory
  • Bringing high energy to work
  • The gift of getting to choose your team

References and how to contact Devin:

  • LinkedIn
  • RML Service Group

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 11 minutes

Acquiring Minds
How to Use an SBA Loan to Roll Up from $6m to $140m

Register for the webinar:

  • Use an SBA Loan to Start a Roll-Up - May 22nd - https://bit.ly/4mays9p

Michael Davidov bought a home care agency with an SBA loan. 6 years later, he's grown & acquired to $140m in revenue.

Topics in Michael’s interview:

  • His “other side of the table” moment in private equity
  • Partnering to buy a home health agency
  • Digitizing a pen and paper business
  • Seeing his employees as customers
  • Narrowly avoiding a payroll disaster
  • Going slow to go fast
  • Rapid growth through additional acquisitions
  • His hiring criteria for leaders
  • Absorbing a business much larger than themselves
  • Growing revenue beyond $100 million 

References and how to contact Michael:

  • LinkedIn
  • Pine Street Group
  • Jonathan Sassover
  • Jerome Buillon: How to Double and Exit a Home Care Agency

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 29 minutes

Acquiring Minds
How 1 Couple Bought 2 Businesses

Register for the webinar:

  • How to Use a Buy-Side Advisor to Buy a Business - Thu June 5th - https://bit.ly/3H4mduT

The original plan was for Lindsay Buckheit to buy a business. As husband Kevin Black got involved, that plan evolved.

Topics in Lindsay and Kevin’s interview:

  • Their desire to leave corporate life
  • Joining Codie Sanchez’s Contrarian Community
  • No deals after 8 months of part-time searching
  • Enlisting AcquiMatch to help them find a business
  • Closing on 2 businesses
  • Offering a higher sale price in exchange for a seller note
  • Mitigating key man risk in both businesses 
  • Finding a bank to finance their acquisitions
  • Why they recommend flat-rate due diligence services
  • The arduous loan application process

References and how to contact Lindsay & Kevin:

  • Lindsay LinkedIn
  • Kevin LinkedIn
  • Collective Creative Outdoors
  • Holdsworth & Nicholas
  • AcquiMatch
  • Codie Sanchez

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
1 month ago
1 hour 25 minutes

Acquiring Minds
How to Recover from a Fraudulent Seller

Register for the webinar:

  • Deal Structuring Under the New SBA Rules - TODAY May 8th - https://bit.ly/4jFLpX2

Jason 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 business
  • Missing fraud despite $400k of due diligence
  • Turning around a business with negative EBITDA
  • When to fire a top performer
  • Fixing a broken work culture
  • Why he decided not to sue the seller
  • Hands-on learning in every role
  • Changing their revenue model during Covid
  • Focusing on cash, culture, and communication
  • Why his investors were thrilled with a 2x return

References and how to contact Jason:

  • LinkedIn
  • Jason’s partner Olaide Lawal
  • Futaleufu Partners
  • The Manager’s Handbook by David Dodson

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
2 months ago
1 hour 25 minutes

Acquiring Minds
Turning a $250k Investment into $7m+

Register for the webinar:

  • Deal Structuring Under the New SBA Rules - Thu May 8 - https://bit.ly/4m7VH47

Marvin 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 business
  • Buying a business with his best friend
  • Picking a lane and staying in it
  • Biggest customer slashing prices right after transition
  • Putting personal money into the business
  • Losing a major customer
  • The customer that turned it all around
  • Buying 2 turnarounds
  • Merging and exiting the businesses
  • Tax savings through QSBS

References and how to contact Marvin:

  • LinkedIn
  • marvin.karlow@raincatcher.com
  • Raincatcher
  • Steve Mariani

Download the New CEO’s Guide to Human Resources from Aspen HR:

  • From this page or contact mark@aspenhr.com

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

  • Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

  • Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
2 months ago
1 hour 27 minutes

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

Register for the webinar: 

  • Anatomy of a Franchise Holdco - Thu May 1 - https://bit.ly/4jreo0U

Dan 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 fund
  • Coming in a little too hot as the new owner
  • Adding 3 offshore employees
  • Growth isn’t free
  • Running a fully remote team
  • Trying to change the world by 9:00 am

Topics in Jayme Moylan’s interview:

  • Her 15 years working for Lodging Source
  • Being blindsided by the acquisition
  • Uncertainty over who to answer to while the seller was still there
  • Figuring out how to interact with Dan

References and how to contact Dan and Jayme:

  • Dan Angel LinkedIn
  • Jayme Moylan LinkedIn
  • Lodging Source
  • Self-Funded Search vs Traditional Search Funds
  • Sam Rosati on Acquiring Minds discussing Big 3, Little 2: How to Shorten Your Search to Buy a Business
  • Chris Williams on Acquiring Minds: System Six: One Year Update

Get a free review of your books & financial ops from System Six (a $500 value):

  • Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Learn more about Walker Deibel's done-with-you buy-side advisory:

  • The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

  • Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

  • See past + future interviews on the YouTube channel
  • Connect with host Will Smith on LinkedIn
  • Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron

Show more...
2 months ago
1 hour 58 minutes

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