Acquiring Minds: Unpacking Nick Huber's $52M Deal to Buy Somewhere.com

In the June 19, 2025 episode of Acquiring Minds, host Will Smith engages in a candid and comprehensive conversation with Nick Huber, widely recognized as the "Sweaty Startup Guy." This episode delves deep into Nick's remarkable journey of acquiring Somewhere.com—formerly known as Support Shepherd—through a high-profile $52 million deal. The discussion not only unpacks the intricacies of this acquisition but also explores Nick's entrepreneurial philosophy, media influence, operational challenges, and future aspirations.

1. Introduction to Nick Huber and His Influence

[00:00]
Will Smith introduces Nick Huber, emphasizing his role as an early advocate for "boring businesses" and his influence on acquisition entrepreneurship.

"Nick was early with that message and it was influential to me personally."
— Will Smith, 00:00

Nick's insights shaped Will's understanding of entrepreneurship beyond the typical tech-centric narratives, highlighting opportunities in any town for anyone willing to work.

2. Nick Huber's Entrepreneurial Background

[05:05]
Nick shares his humble beginnings and entrepreneurial journey, detailing his early ventures in the self-storage industry.

Nick attended Cornell University, where he met his business partner and launched Storage Squad, a pickup and delivery storage business tailored for college students.

"It's an organized message to myself... I really wish I had in my hands when I was, you know, in the early stages."
— Nicholas James Huber, 06:36

He reflects on the hardships faced, including poor clientele and operational challenges, which honed his skills as an operator.

3. Building and Scaling Storage Ventures

Nick recounts scaling Storage Squad from a single location to multiple states, eventually selling it for a seven-figure sum in 2021.

"In early 2021, we were full time storage. Bought a lot of self storage facilities in 2020. 2021 we have 63 properties now, 50 employees."
— Nicholas James Huber, 13:17

This success paved the way for his foray into Somewhere.com, leveraging his operational expertise and entrepreneurial spirit.

4. Acquisition of Somewhere.com: From Minority Stake to Majority Control

[20:40]
The conversation shifts to Nick's involvement with Somewhere.com, initially as a minority partner after investing in their recruiting services.

Nick outlines his journey from being a customer affiliate to owning a significant stake and ultimately acquiring majority control from Marshall Haas.

"I bought somewhere.com for $400,000... changed the domain name of the company, rebranded it."
— Nicholas James Huber, 31:33

This strategic move marked a significant milestone in Nick's entrepreneurial journey, demonstrating his capacity to navigate high-stakes acquisitions without a traditional finance background.

5. Innovative Deal Structure and Financing Strategy

Nick delves into the unconventional financing of the $52 million deal, highlighting the use of seller notes and carry structures.

"I owned 12.75% outright. I did an 18 seller note from Marshall directly to me."
— Nicholas James Huber, 43:16

He explains how leveraging his media influence and strategic partnerships allowed him to negotiate favorable terms, even without being a former private equity professional.

6. The Role of Media and Twitter in Business Growth

[14:24]
Nick discusses the transformation of his media strategy, particularly his embrace of Twitter to amplify his entrepreneurial ventures.

"Now I have 400,000 followers... it's changed everything about how I do everything."
— Nicholas James Huber, 15:40

He credits his Twitter presence with attracting investors, clients, and valuable connections, stating:

"Twitter is a wonderful tool because it gives people a look into your mind... it's a good strong foundation so that when I hopped on a plane and went, we could accomplish more."
— Nicholas James Huber, 78:27

7. Operational Challenges and Platform Dependency

Nick candidly addresses the vulnerabilities in his business model, notably the dependency on SEO and Twitter algorithms.

"We rebranded the business and our SEO, our organic traffic went from 400 leads a month to zero."
— Nicholas James Huber, 69:25

He discusses the impact of these changes on revenue and the steps taken to mitigate these risks through operational improvements and diversification.

8. Recovery and Improvement Strategies

In response to the SEO and Twitter setbacks, Nick implemented several strategies to recover and enhance business performance.

"We have drastically improved the customer experience... increased conversion rate from 32% to 41%."
— Nicholas James Huber, 31:33

He highlights the importance of specialized talent and optimized operational processes in driving growth despite external challenges.

9. Future Plans and Entrepreneurial Outlook

Looking forward, Nick shares his ambitious goals, including further acquisitions, scaling existing businesses, and writing more books.

"I am singularly focused on, you know, growing these three companies... If it goes well, it'll amplify everything."
— Nicholas James Huber, 97:47

He emphasizes a balance between media presence and business operations, contemplating whether to double down on one or continue scaling both.

10. Closing Thoughts and Learnings

Throughout the episode, Nick reflects on the importance of resilience, strategic thinking, and leveraging media for business success. He acknowledges the difficulties of independent sponsoring deals and the need for innovative financing structures to achieve significant ownership and control.

"Business will humble you and humiliate you certain days... there's no way I'm going to want to sell it."
— Nicholas James Huber, 57:36

Will Smith concludes by commending Nick for his transparency and insightful discussion, offering resources such as Nick’s book, "Sweaty Startup."

"So we really thank you for coming on the Minds Capital Podcast and Acquiring Minds."
— Will Smith, 103:16

Key Takeaways:

1. Entrepreneurial Philosophy: Nick champions "boring businesses" over high-profile tech ventures, emphasizing execution and operational excellence.

2. Innovative Financing: Utilized seller notes and carry structures to secure favorable terms in acquisitions without extensive personal capital.

3. Media Leverage: Leveraged a substantial Twitter following to attract investment, clients, and strategic partnerships, showcasing the power of media in business growth.

4. Operational Resilience: Faced and overcame significant operational challenges, including dependency on digital platforms, by enhancing customer experience and optimizing sales processes.

5. Future Aspirations: Aims to continue scaling existing ventures, pursue further acquisitions, and expand his media influence while balancing personal growth and business responsibilities.

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