Podcast
Acquiring Minds
Hosted by Will Smith · EN
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
477episodes
Episodes
Newest firstAll episodes
Escaping the J-Curve in a $700k SDE Ecom Business
3d ago01:30:12Summary readyChris Farkas endured a 7-week fetal position moment when he finally found a website bug that had cost him $500k in sales.Register for the webinar:From Working IN the Business to ON the Business: How Owners Make the Transition - Thu, Jul 16 - https://bit.ly/4vRBhk8Topics in Chris’s interview: Going through Acquisition LabFirst deal fell through on Christmas EveAcquiring an ecommerce business with a warehouseBuying inventory he didn’t wantThe marketing agencies that hurt his businessBusiness almost tanked due to website glitchDoing $10k in sales per dayHardship of traveling every other weekWhy he stays off AmazonMake only one change at a timeReferences and how to contact Chris:LinkedInEmergencyKits.comRuss Hadlock on Acquiring Minds: The Front Lines of a CrisisDave Richards of Keystone Business AdvisorsKalen Foster of Live Oak BankGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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Never Worked Harder, Never Been Happier
1w ago01:27:51Summary readyAfter 25 years in corporate, Gina Rosen bought a jewelry wholesaling business with $635k in sales — now on track to $1m.Register for the webinar: Finance Essentials Before You Close - TODAY!! - https://bit.ly/4fcxTdKTopics in Gina’s interview:Leaving corporate for more family timeDecoupling her salary from her valueAcquiring the supplier for her side gigHer mistake with buying inventoryKeeping her corporate job the first yearGoing full time in the business to focus on salesStanding out by making sales calls in-personOperating a highly seasonal businessHow tariffs have affected her businessAcquiring without the SBA References and how to contact Gina:LinkedInSeasons JewelryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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Career Consultant Who Bought a 7-Figure Manufacturer
1w ago01:26:41Summary readyBuying a metal fabricator with $1m in earnings pivoted Paul Callahan into the new entrepreneurial chapter of his career.Register for the webinar: Finance Essentials Before You Close - Thu, Jul 9 - https://bit.ly/4eMaUowTopics in Paul’s interview:M&A, integrations, and private equity experienceCOVID Zoom fatigue sparked career pivotAtlanta’s crowded deal market challengesHiring buy-side help while still workingPursuing full ownership without outside investorsNavigating two simultaneous LOIs carefullyChoosing SBA 504 over 7(a) financing for the real estateAcquiring a high capex businessReplacing Ferrari equipment with Toyota reliabilityWhy consultants make strong ETA operatorsReferences and how to contact Paul:LinkedInMetro Metal WorksWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.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 MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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(replay)Art of the Roll-Up: 40 Businesses in 4 Years
2w ago01:23:54Summary readyJeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime.Topics in Jeff interview:Switching from high finance to music schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of music vs. danceImportance of general managers in scalingImplementing apps to streamline operationsOther industries with roll-up potentialRolling up 60+ music/dance schools nationwideReferences and how to contact Jeff:LinkedInEnsemble Performing ArtsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@aspenhr.comWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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Growing a $5m Metal Business 40% in Year 1
2w ago01:36:15Summary readyCaleb Standafer believed in manufacturing and wanted to spend his career there. A multi-year pivot and ETA got him in.Topics in Caleb’s interview:Moving from tech to manufacturingManufacturing is important for our country7 years operating before searchingThe manufacturing concept of “going to Gemba”His 4-year part-time searchTaking time weekly to develop his leaders Partnering with his dadModernizing 1970s technologyManaging 75% customer concentrationRenegotiating payment terms with his largest customerReferences and how to contact Caleb:LinkedInSpringfield Tool & DieGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet 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 MindsGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Connect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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How to 4x EBITDA in 3 Years Without Growing Sales
3w ago01:23:50Summary readyNed Tomasevic navigated an early crisis then grew EBITDA to $6m and exited at over 8x, four turns higher than he'd paid.Register for the webinar: Transferable Skills: Crafting Your Resume for SBA Lenders - TODAY!! - https://bit.ly/4v3KOnfTopics in Ned’s interview:Being the first American in his familyUtilizing 20 interns for outreachAcquiring with help from a search fundPost-closing discovery led to lawsuitStress shows up in your body firstGetting guidance from his coach and mentorsReducing shrink from 20% to 3%Quadrupling EBITDA in 3 yearsTaking a year off after exitingHis new role as investor, coach and mentorReferences and how to contact Ned:LinkedInSearchers FundJason Jackson on Acquiring Minds: How to Recover from a Fraudulent SellerGet 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 MindsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@aspenhr.comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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Leaving $700s/Yr to Buy an Underperforming Printing Business
3w ago01:25:43Summary readyDominick Smith left a lucrative track in PE to pursue a path that offered more meaning. Buying a business has delivered.Register for the webinars: Overcoming Common Deal Sticking Points - TOMORROW!! - https://bit.ly/3Qx1g0WTransferable Skills: Crafting Your Resume for SBA Lenders - Thu, Jun 25 - https://bit.ly/4uOEqQDTopics in Dominick’s interview:Leaving a lucrative job in his late 20’sDodging bullets with due diligenceRenegotiating purchase priceManaging white collar vs blue collar employeesWasting money on ineffective marketingLearning budgeting and frugalityAdvantages of staying in the weedsAggressively pursuing new businessDiscovering and fixing poor website speedsHis intent to sell the businessReferences and how to contact Dominick:LinkedInPrintmoz.comHeather Endresen at Viso Business CapitalBrendan O’Brien at Huntington BankAizik Zimmerman on Acquiring Minds: Founder Mode for ETA: $6m to $25m in 3 YearsGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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From Software to Concrete Cutting (and $1.4m of SDE)
4w ago01:38:10Summary readyWhen the owner refused a seller note in the $6m transaction to sell his business, Tom McCormick had to get creative.Register for the webinar: Understanding a Quality of Earnings Analysis: What's Included and Why - TODAY!! - https://bit.ly/43sZcKnTopics in Tom’s interview:From IBM executive to acquisition entrepreneurBuilding banker relationships to source better dealsClosing on his first LOIConsulting agreement replaced traditional seller note “I wish I would've started this path 15 years ago.”Winning seller’s trust through shared valuesUsing ROBS to buy a larger companyA costly lesson about accounts receivable valuationPrioritizing keeping the blue collar workforce happy“I am so much happier now.”References and how to contact Tom:LinkedInQuality Cutting & CoringThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Download the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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Good Bones: Saving a $3m Business in Decline
Jun 1501:49:05Summary readyDespite his love of operations, Himmat Singh intended to own his acquisition passively. Then the lead sales guy quit.Register for the webinar: Understanding a Quality of Earnings Analysis: What's Included and Why - Thu, Jun 18 - https://bit.ly/4vhhY3tTopics in Himmat’s interview:Operating a business for a billionaire in IndiaRan traditional search, closed zero acquisitionsTargeted recession-proof home care opportunitiesBecame CEO of elder care company he couldn’t acquireGrew EBITDA 4x through operational cleanup and systemsSold company to private equity, remaining CEOLife-changing exit from elder care companyLanded printing acquisition through relationshipsPrefers operating to financial modelingStructuring a screaming deal on a printing businessReferences and how to contact Himmat:LinkedInEPI-ColorspaceCircle of LifeWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet 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 MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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How to Buy a $20m Business as a First-Timer
Jun 1101:31:05Summary readyWhen Alan Turkus found a business with a mission, he knew he'd found the right fit for the final chapter of his career.Topics in Alan’s interview:Background in book publishingPost-MBA career in techTaking a career break to raise his sonFrom co-op cashier to co-CEOSeeking security through business ownershipAcquiring a home health and hospice franchiseRaising equity from search investorsRetaining a little over 50% ownershipStructuring with 2 forgivable seller notesThe advantage of buying a bigger businessReferences and how to contact Alan:LinkedInInterim Healthcare of Twin CitiesElliott Edge on Acquiring Minds: 1 Business vs Many: Deciding to Roll UpGrant Hensel of Entrepreneurial CapitalJacob Hall of Kando CapitalPROX Capital GroupConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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