E238: Overcoming Setbacks: How Landon Mance Mastered Industrial Service Business Acquisitions

About the Guest(s):
Landon Mance: Landon Mance is the co-founder of Backbone Planning Partners and a seasoned acquisition entrepreneur. He has a strong background in wealth management, particularly focusing on helping small and medium-sized business owners grow their enterprises and maximize value. Landon is also an active investor, having recently acquired Nevada Tree Service. Aside from his professional ventures, he is a dedicated family man and an advocate for enriching human connections.
Summary:
In this episode of the How2Exit Podcast, host Ronald Skelton chats with Landon Mance, co-founder of Backbone Planning Partners. Landon shares his journey from a family with an entrepreneurial spirit to his current focus on acquisitions and wealth management. He discusses the acquisition of Nevada Tree Service, highlighting the challenges and strategies in managing and scaling a blue-collar business. The conversation covers business fundamentals, handling financial surprises, retaining key employees, and the importance of professional guidance in wealth management-offering valuable insights for entrepreneurs and investors.
Key Takeaways:
*Acquisition Strategy: Landon stresses the importance of understanding the business fundamentals and the necessity of bringing in experienced operators to manage day-to-day activities.
*Financial Preparedness: The episode highlights the critical need for comprehensive financial planning, especially when leveraging debt for acquisitions.
*Human Connection: Landon underscores the value of genuine human connections and their role in business success and personal fulfillment.
*Growth Challenges: Insights into managing unexpected expenses and cash flow challenges post-acquisition are discussed.
*Professional Guidance: The importance of holistic financial advisory services to ensure both business growth and personal financial stability is emphasized.
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Contact Landon on
Linkedin: / landonmance
Website: backboneplanning.com
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Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match.
"Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton
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