EP18 3 Acquisitions since 2020 with Lucas McCann owner of CoreAffinity.com

Lucas McCann is the owner of CoreAffinity.com, he has acquired over 3 businesses in the past 4 years with his partners. In this episode, he talks about the importance of thinking of acquisitions as a team sport vs. as a solo sport. He shares with us the core strategy they use every time they speak with a potential seller, especially when it comes to off market deals, and how they incorporate these principles and utilize  the better together framework.

Podcast Highlights:

• Lucas' background before he got into the Acquisition game.
• His first acquisition and the lessons he learned to keep improving.
• He shares his experiences in building the business from scratch.
• A set of the questions they ask when talking with a potential seller.
• An overview of Core Affinity programs and how they work.
• The importance of understanding how the business could look in 10 years.
• Explain how his third business is completely different from his first and second businesses in terms of what they are offering through core affinity.
• What strategy do they use to find direct sellers and close deals?
• The importance of encouraging people to be direct and build relationships when they are selling their business.
• What Lucas and his team do to make a personal connection with the potential seller.
• Their goal after they acquired the business and how they will grow the business and add value in the long run.
• Lucas points out some questions he considers before they even acquire a business.
• How he learned to know his limits and not do everything himself.
• Discusses the levels of trust between partners when working in a business.
• Lucas' 10-year vision for their business.
• Describes how he loves solving problems in his industry.
• Advice from Lucas for acquisition entrepreneurs.

Tweetable Quote:

“Real-life examples have really helped us better our process and better our approach to the relationship and negotiations.” - Lucas McCann

“Never burn a bridge.” - Lucas McCann

Resources Mentioned:

https://coreaffinity.com/

https://www.linkedin.com/in/lucas-mccann/