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
485episodes
Episodes
Newest firstAll episodes
SBA Acquisition to $9m Cash Exit in 5 Years
Dec 801:27:51Summary readyAndy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exitRegister for the webinars: How to Invest In SMBs (Without Buying One Yourself) - TOMORROW!! - https://bit.ly/4rBI4NbHow to Model an Investor-Backed Search Acquisition - Dec 11th - https://bit.ly/4owBkNWTopics in Andy’s interview:His experience as an Army intelligence officerWhen in doubt, do the dirtiest jobThe military concept of “left seat, right seat” trainingSearching from the public libraryVeterans are well-suited to blue-collar leadershipRewards of leading young menGaining warm leads in new marketsHis team’s competitive edgeExiting his business to run for mayor of DenverInvesting in self-funded searchersReferences and how to contact Andy:LinkedInSearch Fund Secondaries GroupAndy’s webinar: Liquidity Options for Search InvestorsWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherGet 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 RohozovProduced by Pam Cameron
Summary
ETA Unicorn: $1 Billion in Revenue in 5 Years
Dec 401:42:08Summary readySteve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected.Register for the webinars: How to Run the SBA Deal Race - TODAY!! - https://bit.ly/3Xh3WQbHow to Invest In SMBs (Without Buying One Yourself) - Dec 9th - https://bit.ly/44Gylv1Topics in Steve’s interview:Experience working for WalMart corporateSearching while working full timeMyth of passive incomeLarge dead deal costs from a failed acquisitionPartnering with his childhood friendUnderestimating working capital needs100-hour weeks away from his familyRapidly scaling through M&ABeware owners who leave quicklyAchieving $1 billion in revenue in 5 yearsReferences and how to contact Steve:LinkedInKelso IndustriesDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comGet 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 MindsLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron
Summary
Buying for $600k, Selling for $35m
Dec 101:40:56Summary readyJake Bittner bought an unprofitable carve-out doing $3m. A key pivot grew revenue to $20m and got the attention of PE.Register for the webinar: How to Run the SBA Deal Race - Dec 4th - https://bit.ly/44whqv6Topics in Jake’s interview:Building a nest egg before leaving his jobFallout from his father’s failed businessesCalculating the value of a business losing moneyDisliking the bureaucracy of large companiesJoining his friend to run a distressed companyEmployee war storiesChanging the service they offeredAchieving 60% margins Boosting customer retentionSelling the company for 11x earningsReferences and how to contact Jake:LinkedInMission Support PartnersGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron
Summary
When a $2.8m Acquisition Is More Like Zero-to-One
Nov 2601:15:18Summary readyDave Gilbert spent 2 years fixing the model and customer concentration of the $750k SDE family business he bought with SBA debt.Topics in Dave’s interview:Leaving tech to buy a white collar businessMeeting with 120 owners while searchingBuying a business he initially passed onRisks of family members as employeesFinancial surprises after the transitionLosing 23% of revenue when clients leftAccountants do not like changeRecruiting top talentImportance of listening to employeesTransferring his zero-to-one skillsReferences and how to contact Dave:ProvenLinkedInGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 RohozovProduced by Pam Cameron
Summary
When to Buy a Large Consumer Business
Nov 2401:21:12Summary readyTaylor Mattingly found high-quality revenue in an unusual and sizable B2C business that he happened to be a customer of.Topics in Taylor’s interview:Being Co-CEO with his best friendBuying a business he was a customer ofAcquiring a business in his hometownConfusing, deregulated Texas energy marketHow Energy Ogre differs from a typical brokerKeeping his call center in Texas“Set it and forget it” model“Listening tour” in the first 100 daysAdopting the EOS modelHigher leverage deal structureReferences and how to contact Taylor:LinkedInEnergy OgreGet 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 mark@aspenhr.comWork 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 RohozovProduced by Pam Cameron
Summary
The Dream Outcome: From $300k to $5m EBITDA
Nov 2001:53:59Summary readyFrom the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually.Register for the webinar: What a Good Investor Pitch Looks Like -TODAY!! - https://bit.ly/3LYM4H2Topics in Linh’s interview:The "Three Rs" search criteriaBeing an undercover owner for 18 monthsEliminating 70-hour workweeks for his techsStruggling with work-life balanceImplementing value-based pricing80% rule for delegationWhy he doesn’t want to exitFostering deep employee loyaltyCorporate philanthropy and legacyWhat money can’t buyReferences and how to contact Linh:info@apexfundgroup.comLinkedInApex Fund GroupLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 RohozovProduced by Pam Cameron
Summary
Buy Well, Exit Better: A $67m Win in 4 Years
Nov 1701:36:06Summary readyGreg Geronemus bought a highly-profitable travel business at favorable terms, helping to ensure a great return on exit.Register for the webinar: What a Good Investor Pitch Looks Like - Nov 20th - https://bit.ly/47YbVXjTopics in Greg’s interview:Challenges of searching in New YorkCobbling together a search fund in earlier days of searchStrategy of cold email outreachAcquiring at age 26Partnering with a friendSignificant challenges of running a tour operatorDigital marketing did not move the needleDirect mail was the silver bulletPartnering with universities and religious groupsExiting after 4 yearsReferences and how to contact Greg:LinkedInFootbridge PartnersKatherine & Rahul on Acquiring Minds: Why Choose Ownership Over Being a CEOWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron
Summary
Buying to $4m Across 7 Sites in 3 Years
Nov 1301:56:16Summary readyGail Azodo discovered a method of buying audiology practices with 100% financing. She's moving quickly to buy and build.Register for the webinar:Financing Your Deal: SBA vs. Non-SBA - TODAY - https://bit.ly/4p4J2Q7Topics in Gail’s interview:Managing brands at Proctor and GambleHer vision to run her own companyLife changing power of hearing aidsSwitching her search from Vision to AudiologyConsequences of untreated hearing lossFinancing through hearing aid manufacturersCross-licensing her providers in multiple statesAddressing the Audiologist shortageIntentionally acquiring where she does not live Find what “brings the flies to the honey”References and how to contact Gail:LinkedInReal Hearing USABruce Vann on Acquiring Minds: How to Grow a Manufacturing BusinessDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comGet 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 of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron
Summary
Why Choose Ownership Over Being a CEO
Nov 1001:27:12Summary readyAfter chafing under the constraints of being a CEO, Katherine Butler-Dines & Rahul Desai bought a business of their own.Register for the webinar:Financing Your Deal: SBA vs. Non-SBA - Nov 13th - https://bit.ly/47OQpUATopics in Katherine and Rahul’s interview:Katherine’s early CEO experienceBoard conflicts pushed her toward majority ownershipAcquiring without a traditional bank loanConvincing the seller to do a seller notePaying the seller note with float from advance bookingsRahul built custom software to increase marginsSearching nights and weekends while at their W-2sAffordability of living in the midwestVision of acquiring and integrating more travel businessesLearning to delegate and enjoying free timeReferences and how to contact Katherine and Rahul:Katherine’s LinkedInRahul’s LinkedInAffinity Travel Co.Shell Zhang on Acquiring Minds: Buying a Not Boring Business with $600k SDEJared Benoff on Acquiring Minds: Why Buy a Travel Agency (Because They Can Crush It)Get complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron
Summary
How to Build a $5m Media Business Into a $20m Flywheel
Nov 601:30:51Summary readyClayton Collins acquired HousingWire with a big vision for the small media business. 9 years later, it has come to life.Register for the webinar:Overcoming Risks from a Lender’s Perspective - TODAY! - https://bit.ly/3WxDKAsTopics in Clayton’s interview:Hire for your skill gapsFlying around the country to meet investorsAsking for warm introductionsSelling investors on his strategic visionWhat to look for in a media companyDirect relationships with advertisers vs. programmatic adsRebuilding the sales team over and overRiding the wave of the mortgage industryMaintaining the magic of annual eventsSelling print ads differs from selling digital adsReferences and how to contact Clayton:LinkedInHousingWireNathan Gregory on Acquiring Minds: Business-Buyer Fit in a 42-Year-Old Media BizGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 RohozovProduced by Pam Cameron
Summary