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Acquiring Minds
США
Добавлен 28 апр 2021
I’ve been an entrepreneur for most of my career, primarily building online media brands. I sold a few of those businesses, but I’ve never been on the buyer's side of the table. Recently I became curious about buying a business.
I found myself browsing the for-sale business marketplaces, imagining the possibilities. And while there were plenty of listings to explore, I couldn’t find much information to guide me through the process of acquiring a business. Unlike start-a-business entrepreneurship, there are not countless channels and podcasts devoted to buy-a-business entrepreneurship.
There are still fewer public stories about entrepreneurs who have taken the plunge to buy a business and done well - though I knew such successes are plentiful.
Acquiring Minds is a channel to both correct that, and educate me on the journey toward buying a business. Business acquisition is an exciting prospect, and I intend for Acquiring Minds to make the path more accessible to myself and others.
I found myself browsing the for-sale business marketplaces, imagining the possibilities. And while there were plenty of listings to explore, I couldn’t find much information to guide me through the process of acquiring a business. Unlike start-a-business entrepreneurship, there are not countless channels and podcasts devoted to buy-a-business entrepreneurship.
There are still fewer public stories about entrepreneurs who have taken the plunge to buy a business and done well - though I knew such successes are plentiful.
Acquiring Minds is a channel to both correct that, and educate me on the journey toward buying a business. Business acquisition is an exciting prospect, and I intend for Acquiring Minds to make the path more accessible to myself and others.
The Scrappy Path of a One Man Holdco | Dustin Carreon Interview
Today's story captures one of my favorite themes about buying businesses. That it is a path forward for the hungry entrepreneur who otherwise feels stuck. Maybe you don't have an idea. Or maybe, like today's guest, you already have a business, but it's reached its potential and you don't see it growing anymore. But what you do have is the energy. The appetite to build. Dustin Carreon had a small business that sourced & supplied hard-to-find electronics parts. It could kick off nice profits, but sales swung year to year from $1m to $3m, so quality of revenue wasn't great. And more importantly, he didn't see a path to growing it further. So Dustin decided to take his profits from that busin...
Просмотров: 847
Видео
How Helping Others Look at Deals Led to a Holdco | Adam Markley Interview
Просмотров 77023 часа назад
Adam Markley was a partner in an education venture that taught people how to buy a business. The venture had a big UK focus, so it didn't revolve around SBA financing. This steeped Adam in an approach where heavy seller financing & more creative structures to buy a business were more common. It also gave Adam lots & lots of reps looking at deals, as he would help evaluate the acquisitions of th...
Building a $10m EBITDA Leader in a Fragmented Space | Nick and Dillan Interview
Просмотров 1,1 тыс.День назад
Back in 2019, today's guest looked at buying a business that installed & serviced back-up generators. He didn't get that particular business, but it opened his eyes. Over the next 5 years, he learned more about the generator business. The fragmentation. The lack of specialized players. The tailwinds. He got to know 2 other searchers who bought generator businesses; both did well. So by 2023, Ni...
White Collar Roll-Up from $700k to $12m | Jordan Evans Interview
Blue collar, trades businesses get so much attention in our world of buying businesses. But today's interview is with an entrepreneur who bought a white collar business. In 6 years, he's taken a small 4-person, $700k/yr business to $12m in annual revenue, growing it both organically and inorganically with 3 bolt-on acquisitions. Jordan Evans bought a language services business from his parents ...
Buying & Growing a Business While Keeping a Day Job | Dominick Blue Interview
Просмотров 1,5 тыс.День назад
Unlike most Acquiring Minds guests, who become the full-time owner-operator when they buy a business, Dominick Blue bought an air duct cleaning business while keeping his W-2. It's hard enough to pull off a successful transition without the distraction of a day job. That said, there are benefits to this model, chief among them that you don't depend on the business as your livelihood. That incom...
Buy Fast: A Good Reason to Buy Small | Rob Carpenter Interview
You've heard the debate about buying big versus small many times on Acquiring Minds. What is discussed far less is buying fast versus buying slow. Today's guest was determined that his search to buy a business not consume countless months and years of his life. So Rob Carpenter bought an existing territory of a home cleaning franchise with $200k of SDE. Yes, very small. But kicking off his sear...
Buy as Search Fund, Keep as Long-Term Owner | Juan Aguilar Interview
Просмотров 1,3 тыс.14 дней назад
Juan Aguilar bought a $3m EBITDA business in Guatemala with traditional search fund economics. He spent the next 5 or so years growing the business and doubling those earnings. You're going to hear how he did that; listen for his strategy to raise prices, which paid off handsomely. But after about 6 years, when it came time for the next chapter, instead of selling the business, Juan recapitaliz...
It Really Happened: 100% Financing for an $8m Business | Renan Cortez Interview
Просмотров 2 тыс.14 дней назад
100% seller financing… The idea that you can buy a business with little to no money. The seller of the business finances the whole acquisition price for you. Too good to be true? Usually, yes. And even when 100% seller-financed deals do happen, it's often one business buying another where the seller doesn't have other options. It's not going to be an individual off the street, a searcher, buyin...
How to Turn $500k into a $38m Holdco (No Investors) | Garrison Snell Interview
Просмотров 4,1 тыс.21 день назад
Today's guest owns 5 businesses. He has debt on them, but no outside investors, so his family are the sole owners of this portfolio that generated $9m in EBITDA in 2023. Also, Garrison Snell is 30. He has no formal background in finance; he actually planned to be a professional musician. So hopefully this interview will show you how an outsider, someone completely naive to investing, can make a...
Candid Reflections on 7 Years of SMB Ownership | Dan Verboski Interview
Просмотров 1,1 тыс.21 день назад
Today's story is about the hardship of owning a small business. Back in 2017, Dan Verboski bought Leon's Signs in Tyler, Texas. The sign manufacturer was 72 years old. $2.3 million in revenue, $650k in earnings. Seemed sturdy. And in fact, the business has gone pretty well, at least on paper. Dan has doubled both revenue & SDE. But behind the scenes, the journey has not been rosy. Cash flow cri...
Not a "Boring Business": Buying a Maker of Premium Pens | Jeff Velker Interview
The specter of personal bankruptcy looms over our world of buying businesses. When you buy your first business, the loan is typically personally guaranteed, which means the bank can come after you for everything if you default. This is a possible outcome, and a chilling one. Well today's guest experienced bankruptcy before he bought his now-business. Jeff Velker was generous in his transparency...
Reflections on 2 Years in the Knife Fight | Brett Kennedy Interview
Two years in a bloody knife fight can feel like 10 years." So said today's guest Brett Kennedy. Brett has improved the small, $250k SDE moving business he bought in March 2022. He's got an ops manager to handle the day-to-day. He's not having to drive the truck himself when one of his movers doesn't show. He's doubled the business - and in a bad housing market, which is brutal for moving compan...
Why Work IN the Business You Buy (Not Just On It) | Colin Gates Interview
Просмотров 1,6 тыс.Месяц назад
Today's story has lessons about working *in* the business. That's right: in, not on, the business. We are often so focused on the goal of working ON the business we forget the value of working IN it. Colin Gates bought MasterCraft Coatings, a 30-year-old commercial painting business, that did $300k to $400k in SDE. That size required Colin to be very involved in the business when he took over. ...
3x Revenue Despite Turnover, Hangovers & Threats | JD Beck Interview
Просмотров 1,1 тыс.Месяц назад
Please excuse the choppy video. The sound is fine, but the video couldn't be fixed further. Today's story captures a key theme in the world of buying businesses: Weaknesses in a target business may be more *opportunity* than red flag. The plumbing business that JD Beck bought had: low margins, underperforming the industry; rough-around-the-edges employees; SDE that ranged between just $75k and ...
1 Business vs Many Deciding to Roll Up | Elliot Edge Interview
Просмотров 1,5 тыс.Месяц назад
Today's guest thought he would buy a single business for the long term. Sure, there might be bolt-ons and strategic M&A opportunities along the way, but he wasn't envisioning acquisition being the core motion of the project. Well when he found a business he wanted to buy and went into the market looking to raise equity, one investor gave him a piece of pivotal advice: Make this acquisition a pl...
2 Welders and a Shop... to $3.8m in Sales | Matt Pohl Interview
Просмотров 804Месяц назад
2 Welders and a Shop... to $3.8m in Sales | Matt Pohl Interview
Buying a Bankrupt 117 Year Old Manufacturer | Jens Grudno Interview
Просмотров 951Месяц назад
Buying a Bankrupt 117 Year Old Manufacturer | Jens Grudno Interview
Rolling Up EBITDA and Rents with Auto Repair Shops | Stephen and Paul Interview
Просмотров 1,5 тыс.Месяц назад
Rolling Up EBITDA and Rents with Auto Repair Shops | Stephen and Paul Interview
3 Years Later, Climbing Out of the J Curve | Matt Drndak Interview
Просмотров 868Месяц назад
3 Years Later, Climbing Out of the J Curve | Matt Drndak Interview
How to Build a $28m Holdco (in 6 Years) | Colin King Interview
Просмотров 3 тыс.Месяц назад
How to Build a $28m Holdco (in 6 Years) | Colin King Interview
Finding a Great Business in Cow Country | Cody Agee Interview
Просмотров 7632 месяца назад
Finding a Great Business in Cow Country | Cody Agee Interview
How to Buy 40 Businesses in 4 Years | Jeff Homer Interview
Просмотров 2,1 тыс.2 месяца назад
How to Buy 40 Businesses in 4 Years | Jeff Homer Interview
When a Restaurant Is a Great Business to Buy | Jarett Berke Interview
Просмотров 7592 месяца назад
When a Restaurant Is a Great Business to Buy | Jarett Berke Interview
Building a $10m Platform from 2 Low-SDE Businesses | Scott Walton Interview
Просмотров 1,6 тыс.2 месяца назад
Building a $10m Platform from 2 Low-SDE Businesses | Scott Walton Interview
Holdco Origin Story: The Bumpy Road to $3m EBITDA | Chandra Rao Interview
Просмотров 1,5 тыс.2 месяца назад
Holdco Origin Story: The Bumpy Road to $3m EBITDA | Chandra Rao Interview
The Allure of Buying a Marketplace Business | Zach Smith Interview
Просмотров 8782 месяца назад
The Allure of Buying a Marketplace Business | Zach Smith Interview
How to Buy a Canadian Business as an American | Christi Loucks Interview
Просмотров 6862 месяца назад
How to Buy a Canadian Business as an American | Christi Loucks Interview
Selling $100,000 per Day of Dog Training | Garth Fasano Interview
Просмотров 8822 месяца назад
Selling $100,000 per Day of Dog Training | Garth Fasano Interview
How to Build a Roll-Up to $60m Revenue | Robert Graham and Aaron Blick Interview
Просмотров 2,6 тыс.2 месяца назад
How to Build a Roll-Up to $60m Revenue | Robert Graham and Aaron Blick Interview
The Double Life of Owning a Business 2.5 Hours Away | John Murphy Interview
Просмотров 1,4 тыс.3 месяца назад
The Double Life of Owning a Business 2.5 Hours Away | John Murphy Interview
Amazing
Just 15 minutes in and enjoying this a lot. I wanted to say that as I learn more about all of this that the most amazing part of it all is how owners have all been so happy to help and to point me in the right direction or to share their experiences. It is so heartwarming and genuine. Thank you both for this discussion!
Where can we find that letter writing resource? Thank you
Good
thank you for having my mom will, your and amazing person
Great content Will. Greatly appreciated!! This podcast is absolutely motivating me towards being an acquisition entrepreneur
Great interview, I was expecting a question on how he finds his deals weather through a broker or off market deals? Can we have his handle pls.
Private sector medicine owned by big corp....smh....shameful!
28:35 VA for Off-market Deals...are there any recommended companies to use?
Good to see how Renan discovered the world of SMB acquisitions 💡
So what’s better and independent sponsor or a holdco?
Thank you so much for making a video like this Will. So inspiring. I'm 27 and in the process of purchasing a Mathnasium Franchise in Chicago using funds from my book "When the Ocean Waved Hello". I start med school in August.
You're welcome Shiane. Good luck in your business buying journey and med school.
Very good information❤ kudos to you guys
I’m looking to acquire an accounting firm. This was a great interview with a ton of helpful insights. New follower!
Rodney, also see Acquiring Minds interviews with Chris Williams (2 of them), Patrick Dichter (also 2 of them), and Gretchen Roberts.
@@AcquiringMinds Thanks so much for sharing
Reminder for July 2025 is set if Will doesn't invite Renan I will harass Will to bring Renan back hahah! WOW! what an episode and what a guy! Thank you will for bring all these people they're fuel me personally
Remind me Jesse!
Hi Acquiring Minds Team, I just wanted to take a moment to thank you for the incredible content you produce on your RUclips channel. Your insights and the knowledge shared by your guest speakers have been immensely useful for me. The way they discuss buying small businesses is truly enlightening. Your channel has been a great inspiration for me and others, and today’s interview was particularly awesome! I would love to know more about what a VA is and could you also provide details on the two people who assisted Renan in finding off market deals? Please keep up the excellent work-your content is making a significant impact! Best regards, Kingsley
Thank you for that Kingsley. VA = virtual assistant. I'm sure if you reach out to Renan directly, he'll be happy to share a few pointers on how to find a good one.
@@AcquiringMinds Thanks for your speedy response. I have reached out to Renan via his email, currently waiting for his response.
Hoping Renan comes back for Part 2 in 1 year
Second request for this already!
Renan had me at NYC & Military!
Great, truthful interview by an outstanding person. Thank you.
Outstanding interview. An absolute masterclass in SMB ownership.
Thank you Peter
Excellent listening and actually taking notes.
another good book on porter i really like is "understanding Michael porter: on competition and strategy"
Noted, thanks Zack
This is one of the best episodes yet, Will. I was especially impressed during when he was discussing Michael Porter's five forces how closely you were paying attention to the details there, and contrasting that approach with the typical financial review that most independent searchers are doing. Very well done, and Acquiring Minds continues to be on the shortlist of the best podcasts I listen to.
Glad I'm not the only one who appreciates nerding out over Porter's Five Forces!
Completely second this - such a fantastic deep dive into the approach with a replicable strategic lens, illustrated beautifully with tactical case studies - this is what I'm tuning in for!
Good info
This interviewer sounds remarkably condescending and uninterested at times throughout the interview
U trippin Cuh
What the ... are you talking about, I never saw a business podcast host being so interested in every detail of the guests story like Will.
The content is awesome, why are you whining
This must be opposite day because I would say that describes the polar opposite of how Will handles his guests.
Hey @NotRogan - I couldn't disagree with you more. Will Smith is a thoughtful and thorough interviewer, his following and reputation stand in stark opposition to your opinion here. Freezing cold take.
New to the channel. Great video! I'm trying to figure out if buying a business is right for me.
Asking employees to stop smoking (inside) is a high ask. Smoking is combination of addiction + habit. It would be hard for anyone to break regardless of being employee or not.
Its not a high ask. Go outside to smoke. He did not ask them to quit smoking. Furthermore, it is his capital at risk not that of the minority of people whom are smokers.
Indeed he's a good communicator, but I wonder why he called himself an introvert.
Wow! Amazing interview. I think I found my calling.
absolutely love this - killer mindset!
I listen to my podcasts through RUclips music and RUclips. Anyway you could include your sponsors in the description or in the podcast. I never thought I would ask for that from a podcast lol but I am deep into search and the sponsors seem to have real value
Great suggestion - yes we'll start doing this
Great interview
I see the general point he was making about opportunity cost, but just mathematically, it was odd hearing him talk about how the difference in salary was just 401k contributions.
Also just finished up this video and Tyler has such an amazing energy. Really enjoyed hearing the full story.
Really interesting interview, great listen! It's very funny...early in the interview this guy speaks as if he Forest Gumped his way to success, but clearly he made most of his own "luck" through hard work and having the appropriate mindset. Definitely wish I'd had his mindset when I was his age. I just wish he would strike or at least limit his use of the word "like"
Haha yeah this was one of the more interesting characters on the pod. Clearly effective though, so you gotta respect it
@@Pharoah2 Have to agree with you, I like his vibe. Very straightforward, and down to earth.
Who is this Matias lol
Health over wealth my man-. You can not buy good health.
EV is going nowhere. Gas powered vehicles are the cleanest they've ever been, and will continue to be the cheapest personal transportation option for probably another 75-100 years.
Another veteran rocking it in eta. Love to hear it. Also like the perspective from buying a lower SDE business, because it’s not the traditional route.
Awesome pod as always. Will always asks excellent questions. Keep it going!
Thank you for that Andrew
Bussiness is tough. Not like what Codie Sanchez tries to portray.
Moral to the story, her business was saved by Spanish speaking immigrants, do not underestimate or make unfounded generalization about this group of HARD WORKING people which drive billions of dollars of economic productivity in our economy. Additionally if she really wants to accelerate growth she should consider giving her manager "sweat equity" at some point.
Hey Will! You need to have Kinza Azmat back on to tell everyone what happened to her venture.
Don’t know how I came across this but enjoyed the interview. Wish you asked him if he regrets making the purchase vs starting from scratch.
Another amazing episode. Thank you
In these type of investor deals, do you still sign as PG on the SBA Loan?
Yes
Go Elliott!
Is the seminar "Anatomy of an LOI" available in recording? I would appreciate it if you could share the link
Yes! Diddo. Please provide a link to the webinar. Thank you Will
See under the Webinars link at acquiringminds.co
And we'll add it to the show notes
Or I could just post it here :) acquiringminds.co/webinars/the-anatomy-of-an-loi
Oh I didn't know that you posy videos separately on the website apart from RUclips. Great, thanks!
Great interview. Thanks Elliott for being so open and inspiring with all your knowledge and experience!!
How do you do 5% down on a 504green? Seems 10% is the minimum?
I wondering this too, I went back and listened again, the 5% of the cash came from the seller.
great chat 💬 thank you to you both.
Will always asks great questions, making things clear and to the point
Thank you George