Sajama Mitta wanted to make strategic decisions at the head of an organization. Buying her own business was the answer. Topics in Sajama’s interview: Using her investing background to evaluate businesses Buying an environmental health and safety consulting company How the founders made themselves replaceable How they keep their clients in compliance with regulations The fragmented nature of the industry and opportunities for growth How California compares to other states on regulations The probl...
Aug 03, 2023•1 hr 9 min
Manny Saxena quickly bought 3 street-sweeping businesses to become the largest player in NorCal. A big PE fund noticed. Topics in Manny’s interview: The importance of maintaining a strong pipeline during search Why he chose a street-sweeping business during COVID The transition into running a blue-collar business and motivating the team Why he recommends in-person conversations with sellers Advice for other immigrants in business The importance of attitude and soft skills in hiring Managing long...
Jul 31, 2023•1 hr 40 min
Karl Hughes recently bought a podcast production agency & explains why "productized service" businesses are attractive. Topics in Karl’s interview: Starting a super-niche content marketing business The benefits of productizing a service Saying no to the wrong revenue What he learned about using cold outreach to find sellers Acquiring a podcast production company with his partner What he likes about digital businesses His vision to build a holdco The small changes he made immediately Why buyi...
Jul 27, 2023•1 hr 32 min
Mitchell Sorkin started by buying 3 ATMs in 2021. Today he has over 140 machines and is targeting $5m EBITDA in 3 years. Topics in Mitchell’s interview: The difference between arbitrage and building a business Mitchell's journey to acquiring 140 ATM machines How to evaluate an ATM route Revenue and margins in the ATM business Challenges with SBA financing His most controversial Twitter thread Future plans to raise a fund 3 ways to profit in the ATM business Dealing with theft How people underest...
Jul 24, 2023•1 hr 17 min
Chris Munn, Bakari Akil, and Bruce Vann reflect on being Black men who bought businesses & why this path is so powerful. Topics in this interview: What inspires and motivates them as business owners The three necessary factors for capitalism to work Unclaimed opportunities for minority businesses The impact of entrepreneurship on family and future generations Changing your mentality to lead a company effectively Being “buttoned up” vs. being authentic Dealing with sellers who want to talk U....
Jul 20, 2023•1 hr 17 min
Matt Huggins bought a small water & cable utility doing $200k/year. 15 years later, his holdco is on track for $20m/yr. Topics in this interview: Matt's decision to step off the academic track Matt's career as a professional online poker player Transitioning from poker to small business Acquiring a utilities company for a group of condos The surprising complexity of running a utilities company Starting a manhole lining business The stability and diversity of the water industry Acquiring busi...
Jul 17, 2023•1 hr 25 min
Holdco entrepreneur Chase Murdock buys very small businesses with potential for rapid growth & decades of staying power. Topics in Chase’s interview: Starting a custom suit company with $750 Decata Group's “car wash integration process” for acquisitions Workshop SLC’s 5x growth in the first year of acquisition Getting out of the “small business death zone” ASAP The knife fight of acquiring and growing small businesses The #1 ingredient in company building Maslow’s hierarchy of business needs...
Jul 10, 2023•1 hr 29 min
Amir Haboosheh was drawn to the double-opportunity in acquiring home services businesses: the financial, and the impact. Topics in Amir’s interview: Why Amir wasn’t interested in a digital business Offering blue collar employees shares in the company Snowball’s plan for going public Snowball’s playbook for operating businesses How to hire a good GM for your business How to incentivize operators Acquiring a marketing company Why SDE isn’t everything How Anderson Air doubled revenue in 3 years Ret...
Jul 06, 2023•1 hr 33 min
Mark Sinatra returns to explain what to diligence from an HR perspective when buying your business. Topics in Mark’s interview: Top 3 things to diligence in your acquisition when it comes to HR How industry associations can be a source of deal flow (once you're already acquired) "Book of business" acquisitions Best type to execute add-on acquisitions How to prioritize what to integrate in an add-on acquisition How to recover from losing a big customer Value of personality profiling tools in hiri...
Jul 03, 2023•41 min
Sam Rosati shares a framework to clarify your search criteria & reduce the months it takes to find a business to buy. Topics in Sam’s interview: The reason search takes so long How to speed up your search process Underwriting criteria of SBA lenders Knowing how to kill a deal Considering the fit of the searcher as CEO Understanding SBA loan framework Importance of recurring or repeating revenue Opportunities and risks in buying small Managing criteria to get enough deals in the pipeline Comm...
Jun 29, 2023•54 min
James Bloom has 8x'd a small mechanical contractor he bought only 4 years ago, despite it being a competitive industry. Topics in James’s interview: How his background in M&A informed his due diligence process How he ensured a smooth transition Commercial HVAC vs. residential HVAC Why he funded growth out of his own pocket Reducing his weekly work hours from 100 to 60 How his business differentiates itself in the construction industry Growing his staff from 8 to 80 Growing revenue from $3M t...
Jun 26, 2023•1 hr 42 min
3 days into Monte Marcum's acquisition of an established franchise, key equipment breaks. Then the crises kept coming. Topics in Monte’s interview: Buying 2 existing & adjacent franchise businesses at once How Filta’s customer pricing is structured Why commercial kitchens love his business Combining two businesses Equipment starts breaking on day three Monte’s series of fetal position moments What exactly is hard about running a business How one rockstar employee guided him through a season ...
Jun 22, 2023•1 hr 18 min
Niklas James started off as a self-funded searcher, but evolved into being an independent sponsor of 7 acquisitions. Topics in Niklas’s interview: Why he returned the funds raised for his traditional search fund How the painful challenges of his first acquisition set him up for success on later deals Why SaaS isn’t as sexy as it seems Evolution from self-funded searcher to independent sponsor Definition of an independent sponsor Why HVAC is so attractive Growing his home services business What t...
Jun 20, 2023•1 hr 43 min
Martin Bispels updates us on the DTC ecommerce business he bought in 2020 and had grown to almost $2m/yr one year later. Topics in Martin’s interview: Using the Entrepreneurial Operating System (EOS) Building and managing a great remote team Why he doesn’t sell on Amazon The difference between buying and shopping Opportunities for bolt-on products Marks of a good ecommerce business The power of story to differentiate your product Moving his supplier from China to Vietnam Finding a good 3PL Keepi...
Jun 15, 2023•53 min
Derek Turner has done both a traditional search fund and self-funded. We hear both stories & explore the differences. Topics in Derek’s interview: The advantages of a geographically-focused search His method for pitching business owners doing cold outreach Challenges within the laser van business Being a good soldier vs being a sucker The downside of growth The perils of buying from unpleasant owners How the company grew with no marketing Hiring a GM to run the business Why have a board with...
Jun 12, 2023•1 hr 25 min
2 previous guests, Mike Botkin & Adrian Pinto, are joining forces to grow a landscaping empire throughout the Southeast. Topics in Adrian and Mike’s interview: Adrian and Mike meeting through Acquiring Minds Why it was difficult for Adrian to get a line of credit for his business Mike’s holding company acquired Adrian’s landscaping company The pros and cons of buying assets vs. stock How an SBA loan can hamper growth in some situations Why Mike says acquisition is a talent game How they stru...
Jun 08, 2023•1 hr 4 min
With no finance background, Kevin Bibelhausen learned to raise money from investors & buy a 20-year-old fabric business. Topics in Kevin’s interview: His health crisis that led to a career change Losing funding at the last minute Raising $800k in 5 weeks Automating his money-raise process with investors The value of being active on Twitter Acquiring a $8m business using very little of his own money The ideal number of investors What attracted Kevin to Heritage Fabrics Managing working capita...
Jun 05, 2023•1 hr 25 min
Alex Michael was seeking to acquire not just a business, but freedom. One year later, he reports back on how it's going. Topics in Alex’s interview: Top line growth in the last year How he diligenced Wallaroo Wallets How he uses Amazon PPC ads The limitations of an Amazon FBA business An expensive lesson about traffic diversification Launching new products Having his family involved in his business Living life on his own terms His unconventional thoughts on productivity The topics he writes on L...
Jun 01, 2023•36 min
How Austin Smoak raised money from investors to buy a very profitable roofing business that he found on BizBuySell. Topics in Austin's interview: How Goldman Sachs prepared him for business ownership Passively owning franchises Why he recommends local brokers over proprietary search Finding “business-buyer fit” His plan to scale via roll-up His philosophy on change management Pros and cons of being funded by a family office The scope of his residential roofing business The roofing industry in Fl...
May 30, 2023•49 min
Jérôme Bouillon bought a home care agency doing $500k/yr in 2018. Today it exceeds $1m and he's added a second location. Topics in Jerome’s interview: His cold calling strategy Buying a Visiting Angels franchise Seeing his employees as his customers The changes he made immediately to employee benefits Why he stopped penny-pinching in the business Why it’s important to know how to work in the business Margins in home care Home care vs. home healthcare How to scale up in this industry The benefits...
May 25, 2023•1 hr 8 min
Heather Shattuck-Heidorn was a tenure-tracked professor, but wanted out. Buying a business offered freedom & security. Topics in Heather’s interview: What she loved about academia Why she initially resisted franchises How she found a custom closet franchise Being her husband’s employer Her thoughts on capitalism How small business ownership differs from academia What she likes about owning a franchise How she grows her business organically Learning to communicate with her employees Her fetal...
May 22, 2023•1 hr 29 min
Having only ever managed a few people when he bought his business, Alex Glasner shares how the trial by fire is going. Topics in Alex's interview: The difference between searching and operating The challenge of improving processes How rapid growth affected the company Running the business with a partner How the economy impacts his industry Having the British government as his sole customer Idealism and disillusionment in helping professions Why he hasn’t acquired a second business Why the first ...
May 18, 2023•54 min
Ben Bortner couch-surfed, drove Uber, and racked up credit card debt while finding a pool business to buy. It went well. Topics in Ben’s interview: Buying a pool service business, putting in only $100 of his own money for equity Changes he made to employee compensation (and why) Acquiring a second pool business Why Ben became certified to do pool maintenance himself How Ben improved company culture Why he didn’t want to hire a GM Selling his company to Pool Troopers Launching a fund for self-fun...
May 15, 2023•1 hr 24 min
9 months after Jesse Safir bought a printing biz, Covid cratered it. 3 years later, sales are nearing pre-Covid levels. Topics in Jesse’s interview: Finding ABG Printing by sending direct mail The value of having a “forgettable” business Renegotiating his deal before acquisition The changes he made in the first 9 months Cutting 80% of his staff during COVID Managing cash flow after revenue plunged 95% Staffing post-COVID How their printing projects have diversified The landscape of the printing ...
May 11, 2023•1 hr 13 min
2 searchers, Kaustubh Deo & Kevin Bibelhausen, share how they found investors to provide money to buy their businesses. Topics in Kevin and Kaustubh’s interview: How Twitter helps searchers learn and network How Kevin found investors after his funding fell through How they selected investors What a good pitch meeting looks like How they communicate with investors post-acquisition The power of superconnectors when raising funds The size of their cap tables How they organized their contacts wh...
May 08, 2023•49 min
It CAN be done: Matthew Saskin recently acquired a big towing business, hiring an operator to run it from day 1. Topics in Matthew Saskin’s interview: Why he chose a towing company Putting in an operator from day one Improvements he made right away Why he kept his day job (and how he manages it) His COO’s compensation package What is phantom equity (and how it’s different from true equity) How real estate investment is different from SMB ownership The landscape of the towing industry Revenue str...
May 01, 2023•1 hr 33 min
Caroline Chapdelaine seized opportunity when a biomed company needed to sell a $2m unit that made special defense tech. Topics in Caroline’s interview: About the defense contracting industry Buying a business in the defense industry (and why it’s hard) Buying a carve-out business The unusual terms of a carve-out deal Unforeseen costs after purchasing a carve-out The benefits of having partners Assessing the strategic value of your business to its customers Running out of money months after purch...
Apr 27, 2023•1 hr 10 min
Despite dire warnings against it, Reg Zeller bought a foundry. He's since bought 6 more & sees a clear path to $100m/yr. Topics in Reg Zeller’s interview: Why he bought a foundry (against everyone’s advice) The famous fetal position story The importance of a peer group His journey from one acquisition to a holdco Why searchers should spend 2 years operating the business they buy Reg’s plan to get to $100 million How to eliminate key man risk How Reg found his rockstar COO Opportunities in no...
Apr 24, 2023•1 hr 44 min
Adrian Pinto returns to reflect on his 1.5 years as owner of a landscaping business that he's grown from $3m to $6m/yr. Topics in Adrian’s interview: Buying and growing Georgia Scapes Growth through acquisition in landscaping Doubling revenue in 18 months His B2B sales process Competition in landscaping Commercial vs residential landscaping Maintenance work vs project work Due diligence for a landscaping company Beyond EBITDA: evaluating size of business to buy Risks in acquiring a landscaping b...
Apr 20, 2023•1 hr 7 min
Michael Horowitz was looking to buy an independent business when a different path opened up. Today he owns 20 Wingstops. Topics in Michael’s interview: Pros and cons of searching within franchises Why Michael was attracted to QSR’s (quick service restaurants) Buying 7 Wingstop locations in Ohio Writing an operating agreement for 3 co-owners Development agreements with franchises Operating QSR’s during Covid Opening and closing a ghost kitchen Daily operations of owning 20 Wingstop locations Moti...
Apr 17, 2023•1 hr 34 min
