Acquiring Minds

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Acquiring Mindsactive

Publisher |: Will Smith

Media Type |: audio

Podknife tags |: Business,; Entrepreneurship,; Interview,; Investing,; Mergers & Acquisitions

Categories Via RSS |: Business,; Entrepreneurship,; Investing

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

People |: Will Smith (@whentheresawill)
Country Of Origin |: USA
Produced In |: San Francisco, CA
Frequency |: Weekly
Explicit |: No

This podcast currently has no reviews.

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247 Available Episodes (247 Total) / Average duration: 01:10:07

Date Duration Most Reviewed Highest Rated

247 Available Episodes (247 Total)Average duration: 01:10:07

Apr 18, 2024

01:44:18

Reid Tileston bought a business that relied on $800k trucks, capex he came to love for the fat margins they produced.

Topics in Reid’s interview:

Working on the business instead of in it
Writing a book about acquisition
People are the worst and best part of business
Power of feedback and relationships for business owners
The company’s slow temp-to-hire process
Getting his CDL to be hands-on
Moving paper processes to the cloud
Pros and cons of an Employee Stock Ownership Program
Personally testing field service management tech
Risks of informing employees of a business sale

References and how to contact Reid:

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Matthias Smith of 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

Apr 15, 2024

01:58:41

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Rafael Quinn shares the story & principles behind buying 3 businesses in Panama then raising $28m to buy more in the US.

Topics in Rafael's interview:

Selling everything on Craigslist to move to Panama
Buying his first business Panama from a billboard ad
How to buy a business with an operator
How he decided to build a holdco
Self-identity as investor vs. entrepreneur
3-year dry spell not buying any businesses
Being in "search mode" your whole career
Breaking his own rule by buying a restaurant
Why he turned his sights to the US
How to raise $28m & structure a holdco
Why buy a furniture retailer

References and how to contact Guest:

Get a complementary pre-acquisition HR & PEO review for your target business:

Contact mark@aspenhr.com or visit Aspen HR

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

Apr 11, 2024

01:52:40

The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.

Topics in Christian’s interview:

His front row seat to the 2008 financial crisis
Qualities of a top salesperson
Business acquisition as a way out of a miserable career
Shopping around for an SBA loan
Choosing to play to his strengths and outsource his weaknesses
Difficulty in hiring for construction
Bouncing back and growing after Covid losses
Red flags he ignored when acquiring his second business
How his finance background benefited him
His $100 million goal

References and how to contact Christian:

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Matthias Smith of Pioneer Capital Advisory

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

Apr 08, 2024

01:55:07

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Patrick Norris bought a small trash business doing $625k. Five years later and 4.5x bigger, a strategic got interested.

Topics in Patrick’s interview:

Why acquiring a trash business is easier than starting one
Intricacies of trash disposal pricing
Niches within trash services
Competition and cooperation in trash services
The first question you should ask when considering a trash business
Why he regrets not hiring a manager
Hiring for dangerous, strenuous jobs
4xing revenue through customer service and Google ads
The cycle of building and selling a trash business
Buying a business without an MBA

References and how to contact Patrick:

Get a complementary pre-acquisition HR & PEO review for your target business:

Contact mark@aspenhr.com or visit Aspen HR

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

Apr 04, 2024

01:30:57

Only after Matt Jackson bought a roofing business in the hurricane state did he realize just how big the opportunity is.

Topics in Matt’s interview:

His experience with Acquira
Keeping the seller as an employee
Why he likes roofing despite drawbacks
How he satisfied his licensing requirement
Moats around spray foam roofing
Standing out in the roofing industry
His vision for organic growth
How insurance companies drive demand for new roofs
Using ROBS for financing
Why he won’t buy the ROBS ownership interest back from his 401k

References and how to contact Matt:

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

Apr 01, 2024

01:20:56

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

https://www.malaunchpad.com & enter code ACQUIRINGMINDS

At age 63, Maurice Thomas wasn't ready to retire, so he bought an electrical contractor with $1m in earnings instead.

Topics in Maurice’s interview:

Buying a business after age 60
Learning the right amount of diligence to do before submitting an LOI
Importance of a target statement for searchers
His values-first approach to business
Importance for searchers to “know thyself”
Politics and religion in the workplace
Gratifying work of coaching employees
His succession plan
Challenge of hiring lead electricians
Creating incentives that align with company goals

References and how to contact Maurice:

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

Contact mark@aspenhr.com or visit Aspen HR

Connect with Acquiring Minds:

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

Mar 28, 2024

01:37:14

How Andrew Stordeur bought a 25-year-old furniture manufacturer in Alberta without having to use any of his own capital.

Topics in Andrew’s interview:

Taking a startup to an IPO
Competition in the wood furniture space
Financing without the SBA
Advice for Canadian searchers
Getting a 35% seller note
His 100% financed deal
His plan to increase direct-to-consumer sales
Being the sole breadwinner for a family of 6
Deciding not to buy with a partner
How his company ships faster than Amazon

References and how to contact Andrew:

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

Mar 25, 2024

01:24:21

https://bit.ly/3IGEZWQ

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Stephen Olmon & Collin Trimble set out to roll up the alarm industry in Texas. Alarm Masters is their first acquisition.

Topics in Stephen and Collin’s interview:

All about the alarm, fire, & security industry
Their roll-up strategy
Moats in the form of risk and licensing requirements
Valuation based on monthly recurring revenue
Educating their lenders on industry practices
Using a holdback to mitigate attrition risk
Choosing to offer both installation and service
The supply of technicians in this industry
The value of Collin’s sales skills
Strategic questions they asked during due diligence

References and how to contact Stephen and Collin:

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

Contact mark@aspenhr.com or visit Aspen HR

Connect with Acquiring Minds:

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

Mar 21, 2024

01:19:38

https://bit.ly/3veZaYP

Alan Lochridge left a career in consulting to buy a 20-year-old $5.5m hardscaping contractor with strong fundamentals.

Topics in Alan’s interview:

Years of searching before acquiring
Understanding the ROBS financing strategy
Reiterating company values weekly
His day-to-day role as owner
Restructuring to do more with fewer people
Embracing digital marketing and CRM tools
Why he’s so comfortable with project-based revenue
Advantage of a negative cash conversion cycle
Pros and cons of using subcontractors
Getting his general contractor’s license

References and how to contact Alan:

Get a complementary pre-acquisition HR & PEO review for your target business:

Contact mark@aspenhr.com or visit Aspen HR

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

Mar 18, 2024

01:52:11

https://bit.ly/3IFObuB

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Despite an overwhelming transition, today Dan Tagliatela has 17x'd his initial investment and delegated the day-to-day.

Topics in Dan’s interview:

His background in investing
What margins indicate about a business
Return on assets as a quality metric
Acquiring a pavement sealing company
Geographic density advantage of the business
His goal to double volume over 10 years
Replacing the antiquated robocall machine
Stress of learning and upgrading at the same time
Buying a window cleaning company
The Goldilocks approach to management

References and how to contact Dan:

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

Oberle Risk Strategies - Search Fund Team

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

Matthias Smith of 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

Apr 18 | 01:44:18

The Gritty, High-Capex Road to Millions

Apr 15 | 01:58:41

Watching Warren: How to Build a Mini-Berkshire

Apr 11 | 01:52:40

Getting Unstuck by Buying a Business

Apr 08 | 01:55:07

Buy & Build a Trash Business to a $4.4m Exit

Apr 04 | 01:30:57

Roofing + Florida = Path to $100m

Apr 01 | 01:20:56

Rather Than Retire, Buy a Business

Mar 28 | 01:37:14

$700k EBITDA with No SBA, No Money Down

Mar 25 | 01:24:21

The Birth of a Roll-Up

Mar 21 | 01:19:38

How to Identify & Buy a Great Residential Contractor

Mar 18 | 01:52:11

Reward for a Brutal Transition: $760k EBITDA on 3 Hours/Week

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