Acquiring Minds - podcast cover

Acquiring Minds

Will Smithacquiringminds.co
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
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Episodes

How to Build a $5m Media Business Into a $20m Flywheel

Clayton 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/3WxDKAs Topics in Clayton’s interview: Hire for your skill gaps Flying around the country to meet investors Asking for warm introductions Selling investors on his strategic vision What to look for in a media company Direct relationships with advertisers vs. programmatic ads Rebuild...

Nov 06, 20251 hr 31 min

Timing is Everything: Buying a $30m Tutoring Business

Both buyer Jared Lenner and seller Dave Serwitz share their perspectives on the acquisition of a 20-year-old business. Register for the webinars: Investor-Backed Search and SBA: Buy Bigger, Keep Control - TOMORROW! - https://bit.ly/4qABMgn Overcoming Risks from a Lender’s Perspective - Thu Nov 6th - https://bit.ly/4qDoJdV Topics in Jared & Dave’s interview: Jared buying Dave’s tutoring business Dave’s motivation to sell Choosing to work with Search Fund Accelerator Their agreement to “assume...

Nov 03, 20251 hr 57 min

Started Mid-Career, Grew to $38m in 3 Years

Shaun Stimpson had worked for two decades before pivoting to buying businesses in a different industry. He's moved fast. Register for the webinar: Tax Issues: Entity and Deal Structuring - TODAY! - http://bit.ly/47CVZui Topics in Shaun’s interview: Staying in corporate was the riskier choice Calling 1200 businesses during his search Going back to school to learn more about acquisition Acquiring with his partner, Robert Wolf Raising $6m from outside investors Leaning on his professional network C...

Oct 30, 20251 hr 37 min

Buying a Wide Moat in a Consolidating Industry

Ania Aliev was so eager to buy her business, she worked the deal while in labor at the hospital. It's been worth it. Register for the webinar: Tax Issues: Entity and Deal Structuring - Thu Oct 30 - http://bit.ly/43tlhIP Topics in Ania’s interview: Rushing to get a deal closed before giving birth Using her people skills to connect with sellers Searching only in the Eastern US Buying an AED sales and service company Myths about AEDs Figuring out the best pricing model Lack of competition in the in...

Oct 27, 20251 hr 29 min

From €4 Million, to Zero, to €12 Million

Despite skepticism from her US investors, Ivona Butcher bought (and tripled) a business in her native Czech Republic. Topics in Ivona’s interview: Doing business in a post-Soviet culture Determination to acquire in the Czech Republic Buying a business as a married couple Getting into exhibition services right before Covid Losing all revenue at onset of Covid Pivoting to virtual events Finding work for their carpenters and metalsmiths Aggressively re-negotiating their loan with the bank Buying ba...

Oct 23, 20251 hr 35 min

Building Trust as New Owner of a $3m Business

Ruchik Gandhi was a diligence CPA when he decided to get in the game himself. Becoming an owner has been an education. Topics in Ruchik’s interview: India > Australia > US immigration Discovery of the wonders of multiple arbitrage Receiving the deal from another searcher Paying a $20k finder’s fee Buying a fabrics and upholstery workroom Learning how to manage a blue-collar workforce Mishandling employee relationships Taking feedback from his managers Earning the employees’ trust His plan ...

Oct 20, 20251 hr 25 min

Buying a $1.6m Business for the Inventory Value

Undeterred by self doubt, Danyelle Nys bought a $400k SDE business at a fantastic price. She's grown it 25% in year one. Topics in Danyelle’s interview: Working in her family’s asphalt business Learning about ETA from a masterclass Hiring a coach for the search process Buying a business for the price of inventory + working capital The seller was running it remotely Raising prices and salaries after acquisition Dealing with an obstinate commercial landlord Moving 14,000 sq ft of inventory to a ne...

Oct 16, 20251 hr 21 min

Buying 2 Rivals to Create a Dominant Leader

When his deal died the first time, Kyle Poll was devastated. But then it came back around, larger and more interesting. Topics in Kyle’s interview: Skills he learned on his 2-year Mormon mission Growing Gympass from $10m to $100m Aiming for happiness at work and home Earning the respect of brokers Watching his deals die and being outbid Q of E that drastically lowered the business value Emotional rollercoaster of full-time search Completing his acquisition as CEO with equity Finding investors wh...

Oct 13, 20251 hr 46 min

Trades Over Tech: Buying an Appliance Repair Business

Brian Seeling sought a blue-collar business with a good manager in place. He found exactly that — with $2.6m in revenue. Register for the webinar: Tactical EQ to Win Over Sellers and Brokers - TODAY! - https://bit.ly/46MlUhC Topics in Brian’s interview: Being an entrepreneurial kid Moving from IT to blue-collar Getting value from SMBootcamp “Riches are in the niches” Satisfaction of developing people Not all SBA lending is the same “Billionaires do business with billionaires” Tactfully bringing ...

Oct 09, 20251 hr 10 min

Acquisition Unlock: €210m in 5 Years

Nick Keegan owned a struggling software business doing just €1m/yr until an acquisition put it on the path to 9 figures. Register for the webinars: How PACT Simplifies Investor Deals Using SBA - TOMORROW! - https://bit.ly/42jGpB2 Tactical EQ to Win Over Sellers and Brokers - Thu Oct 9th - https://bit.ly/48wqcMP Topics in Nick’s interview: 10 years in the Irish Defense Forces His app idea that ultimately failed Pivoting his failed business into Mail Metrics Successfully competing against larger p...

Oct 06, 20251 hr 28 min

$60m Roll-Up That Started With an SBA Acquisition

Onu Okebie and Brian Boland wanted to retain 100% ownership when they began, so they used an SBA loan. It has paid off. Register for the webinars: The ABCs of Franchise M&A: Deal Sourcing, Diligence, and Integration - TODAY! - https://bit.ly/481yThO How PACT Simplifies Investor Deals Using SBA - Tue Oct 7th - https://bit.ly/48FjAvq Topics in Brian and Onu’s interview: Forming a partnership in business school Searching for 2.5 years Closing on their first business while still in school Bootst...

Oct 02, 20251 hr 29 min

Founder Mode for ETA: $6m to $25m in 3 Years

Aizik Zimerman bought a home services business to build a consumer brand into his life's work. It seems to be working. Register for the webinar: The ABCs of Franchise M&A: Deal Sourcing, Diligence, and Integration - Thu Oct 2nd - https://bit.ly/46E2uv8 Topics in Aizik’s interview: There is endless opportunity in home services His goal of $1 billion in revenue Advantage of his youthful energy Going all-in on digital advertising Small business = big problems Founder Mode theory Organic growth ...

Sep 29, 20251 hr 18 min

Family Offices for Searchers: A Primer

James Bohannon of family office Belzberg & Co. explains the FO world and its untapped potential for searchers & sponsors. Topics in James’s interview: What is a family office? Family office capital sustains private markets You may wear jeans, but there are tradeoffs Private, insular nature of family offices How to network with family offices When it makes sense to exit to a family office Long-term holds are a good fit Playing defense and offense within family offices Family offices do no...

Sep 25, 20251 hr 21 min

Deciding to Exit After 2 Years of Ownership

Register for the webinar: Liquidity Options for Search Investors - Wed Sep 24th - https://bit.ly/48lptOc Jack Saville was asked if owning a small business was underutilizing his talents. The question prompted a big decision. Topics in Jack and Sam’s interview: Jack’s motivation to own something and take a risk You are always buying a job Linking up with Sam Rosati through SMBootcamp Buying a business far from his family Realizing that he didn’t want to operate a lifestyle business Difficulties o...

Sep 22, 20251 hr 28 min

So Much Fun: The Buyer of Choice in a Fragmented Industry

Register for the webinars: Liquidity Options for Search Investors - Wed Sep 24th - https://bit.ly/41WmQym Employee Issues & Non-Competes When Buying a Business - TODAY!- https://bit.ly/4nrvvkD Mark Anderegg built the largest private daycare business in New England. He loved the model so much he's doing it again. Topics in Mark’s interview: Raising a search fund himself Being the “world’s worst searcher” Acquiring a 16-location childcare network Pressure of running an essential business The u...

Sep 18, 20251 hr 33 min

From SBA Loan to High 8-Figure Exit

Register for the webinar: Employee Issues & Non-Competes When Buying a Business - Thu Sep 18th - https://bit.ly/4mbU9EI Jerod Pierce bought an HVAC business with $500k of SDE. Five years later, private equity was desperate to buy him out. Topics in Jerod’s interview: Challenging upbringing in foster care Adaptability as a survival skill Joining the investment club in college Getting his MBA from Harvard Business School Learning about ETA from Rick and Royce Searching only in Seattle by cold ...

Sep 15, 20252 hr 10 min

The Flywheel of Buying Businesses in a Single Region

Register for the webinar: Buyer of Choice Series Pt 1: Building Your Personal Buyer Brand (in a Sea of Searchers) - TODAY!- https://bit.ly/46ntJLG Doug Lepisto has partnered with 7 searchers to acquire businesses strictly in Western Michigan. Momentum is building. Topics in Doug’s interview: Having one foot in academia, one in business Place-based private equity model Delivering returns while elevating Western Michigan Competitive advantage through building local trust “Find the operator, find t...

Sep 11, 20251 hr 22 min

Hiring a CEO to Run Things (and Get Life Back)

Register for the webinar: Buyer of Choice Series Pt 1: Building Your Personal Buyer Brand (in a Sea of Searchers) - Thu Sep 11th - https://bit.ly/4pcznI8 Jeremy Hunka bought a $2m cabinet business, and year one consumed him. Leadership had to evolve for things to improve. Topics in Jeremy’s interview: Buying a business at age 27 Rocky first day as owner Living 1.5 hours from the business Employees wanting him present every day Taking too long to fire an employee Watching sales drop dangerously l...

Sep 08, 20251 hr 50 min

A Few Hours Per Week, a Few States Away

Register for the webinar: Love & Leverage: Lessons from Couples Who Acquired Together - TODAY! - https://bit.ly/4mBLyw5 Brett Maxam bought a concrete business with high 6 figures of earnings. Despite being a plane ride away, it's gone well. Topics in Brett’s interview: His desire to “run the show” after watching acquisitions up close Involving his wife as a sounding board Buying a business a plane ride away Proactively negotiating for a seller note “Shut up and let them do a little more talk...

Sep 04, 20251 hr 32 min

The Joy & Pain of Buying a Tech Business

Register for the webinar: Love & Leverage: Lessons from Couples Who Acquired Together - Thu Sep 4th - https://bit.ly/47PpZ6L Felipe Corcuera bought an automation company that didn't offer AI. Since ChatGPT was released, he has had to adapt. Topics in Felipe’s interview: Imperfect information in the lower middle market Pivoting from investing to operating Finding a partner with complementary strengths How he defines success during search AI threats to traditional SaaS businesses Testing for s...

Sep 01, 20251 hr 43 min

$2 Million of Fun: Big Margins in Play Centers

About fall conferences: Southeast Entrepreneurship through Acquisition Conference 2025 Buy Then Build Summit McguireWoods Independent Sponsor Conference M &A Launchpad's Fall Show (use ACQUIRINGMINDS for a discount) Despite tight search criteria, Daniel Batista found a business that excited him. The eye-popping margins were a bonus. Topics in Daniel’s interview: His experience in the film industry Launching a Latino media brand Searching for a fun business Acquiring an indoor playground LA d...

Aug 28, 20251 hr 25 min

Stacking Small Acquisitions to $5m in Revenue

About fall conferences: Southeast Entrepreneurship through Acquisition Conference 2025 Buy Then Build Summit McguireWoods Independent Sponsor Conference M &A Launchpad's Fall Show (use ACQUIRINGMINDS for a discount) Kyle Boyden & Jake Furfaro bought tiny cleaning companies, five times. While painful, it taught them ops & integration. Topics in Kyle and Jake’s interview: Leaving a “cushy sales job” to buy a business Doing no due diligence on the first acquisition Cons of property mana...

Aug 25, 20251 hr 22 min

4th Time's the Charm: 3 Broken Deals to Buy a Great Business

Register for the webinar: Overcoming Common Deal Sticking Points - Thu Aug 21st - https://bit.ly/4oB4zAk Bryan Houck was fatigued of his search and broken deal costs when he finally closed on an award-winning creative agency. Topics in Bryan’s interview: Losing everything in a startup at 41 Discovering his personal talents Using a buy-side advisor Ups and downs of search Importance of meeting the owner Buying an in-person creative agency The “Superbowl winning” team at Extra Credit Projects Talk...

Aug 21, 20251 hr 14 min

Buying and Building a Xerox Dealer to $30m

Register for the webinar: Overcoming Common Deal Sticking Points - Thu Aug 21st - https://bit.ly/3UrzG3F Jeff Horn left a lucrative path to buy a $5m copier sales and service firm. 5 years later he exited for a great return. Topics in Jeff’s interview: Feeling a calling to lead Leaving a high-paying job to search You have to check the character box Acquiring a Xerox dealership Spending the first 90 days building relationships 3 buckets of growth Learning to rely on great employees Challenges of ...

Aug 18, 20251 hr 21 min

A Searcher’s Second Act: Building a $25m Holdco

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one: Smithlist - Operate & Lead a Business After success as a traditional searcher, Eric Calderon started building an industry-focused holding company in 2020. Topics in Eric’s interview: Accepting investment from Rick and Royce Acquiring through traditional search Commitment to community banks Ups and downs of the oil and gas industry “You gotta tell your story to anyone...

Aug 14, 20251 hr 37 min

2 Years to $40m: The Anatomy of a High-Velocity Roll-up

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one: Smithlist - Operate & Lead a Business When Luis Reyes bought a small fire safety business, he saw an opportunity. 24 acquisitions later, he's at $8m EBITDA. Topics in Luis’s interview: Luis’s early career Launching a roll-up strategy in Spain Identifying consolidation opportunities First acquisitions in poultry distribution and fire safety Building and leading a team...

Aug 11, 20251 hr 12 min

From 16 Years in Corporate to a $1m SDE Acquisition

Register for the webinar: The "Plant Your Flag" Strategy: Build an Empire with ETA + Franchising - TODAY - https://bit.ly/3UH3w45 After years of corporate success, Jesus Wong yearned for something else. When he discovered ETA, he knew he'd found it. Topics in Jesus’s interview: Childhood in Mexico and Canada Family history of entrepreneurship Buying a Canadian garment repair business Low capex, high labor costs Structuring his deal without the SBA Mitigating the risk of high customer concentrati...

Aug 07, 20251 hr 16 min

Building a $25m FedEx Route Empire from $100k Equity

Register for the webinar: The "Plant Your Flag" Strategy: Build an Empire with ETA + Franchising - Thu Aug 7 - https://bit.ly/45i7eGe Avery Tomek bought his first little $1m FedEx route with an SBA loan. 3 years later, he has 240 trucks and $600k weeks. Topics in Avery’s interview: Pivoting from real estate to FedEx routes Ups and downs of Covid Expanding his fleet Running his logistics business remotely Everything hinges on weekly deposits What makes a route lucrative (or costly) No marketing o...

Aug 04, 20251 hr 29 min

Buying a $200m Franchisor (Not Units, the Whole System)

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one: Smithlist - Operate & Lead a Business Tyler & Zach Gordon's search for an overlooked industry with good prospects led to a franchise system of thrift stores. Topics in Tyler & Zach’s interview: Zach and Tyler’s backgrounds in franchising Looking for career fulfillment Formulating a search strategy Focusing on overlooked industries Discovering thrift store fra...

Jul 31, 20251 hr 51 min

A $10m Acquisition for Freedom and Family

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one: Smithlist - Operate & Lead a Business Anica John bought a print-on-demand business to have more time with her kids without compromising her career ambitions. Topics in Anica’s interview: Experience at Amazon, WalMart, and Disney Streaming Choosing entrepreneurship over returning to office Buying a publishing company for indie authors High capex = moat Diversity of th...

Jul 28, 20251 hr 26 min
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