Lucas Philips: Entrepreneurship through Acquisition

Lucas Philips is a born-and-bred New Yorker and a third-generation serial entrepreneur. In this conversation, we explore Entrepreneurship through Acquisition (ETA) as Lucas shares his experiences and insights. He discusses his transition from Silicon Valley startups to the acquisition and modernization of existing small businesses, notably Newark Auto. Join us as we delve into SBA Loans, modernization processes, growth strategies, and the 'silver tsunami' in the small business market.

EPISODE LINKS:

• LinkedIn: https://www.linkedin.com/in/lfphilips/

• "Buy Then Build" by Walker Deibel: https://www.amazon.com/Buy-Then-Build-Acquisition-Entrepreneurs-ebook/dp/B07JKM2F5Q
• Learn about Search Funds: https://en.wikipedia.org/wiki/Search_fund
• Differences Between Traditional and Self-Funded Search Funds: https://mainshares.com/learn/differences-between-a-traditional-search-fund-and-a-self-funded-search
• Lucas Philips email: Lucas@newark-auto.com

TIMESTAMPS:

(00:01:04) Intro and background, Newark Auto (00:03:26) Transition form startup to old school (00:08:57) Entrepreneurship through acquisition (00:12:26) SBA loan (00:19:31) Silicon Valley vs Lifestyle Businesses (00:31:05) Newark Auto, strategy, business growth (00:47:39) Challenges and Learnings (00:53:01) Long-term Strategy (00:58:18) Advice for entrepreneurs (01:02:38) Closing

CONNECT:

• Website: https://hoo.be/elijahmurray
• YouTube: https://www.youtube.com/@elijahmurray
• Twitter: https://twitter.com/elijahmurray
• Instagram: https://www.instagram.com/elijahmurray
• LinkedIn: https://www.linkedin.com/in/elijahmurray/
• Apple Podcasts: https://podcasts.apple.com/us/podcast/the-long-game-w-elijah-murray/
• Spotify: https://podcasters.spotify.com/pod/show/elijahmurray