Acquiring Minds
Acquiring Minds is a podcast about buying a business as a path to entrepreneurship. Hosted by Will Smith, it features stories, insights, and advice from entrepreneurs who have successfully acquired businesses. Episodes are released twice per week, covering topics like deal sourcing, financing, and operations. The podcast also offers episode summaries and a YouTube channel.
Episodes
From $700k Purgatory to $3m: A Mosquito Joe Update
Neil Finneran returns 3 years after buying a business so small it barely paid him a salary — now on pace for $800k.Register for the webinars: Learn to Avoid the #1 Reason Acquisitions Fail - TODAY!! - https://bit.ly/4qg4P9kLicenses & Regulatory Issues When Buying a Business - Tue, Aug 25 - https://bit.ly/4wTADDfTopics in Neil’s interview:Neil’s previous appearance on Acquiring MindsHi
3 Years, $80k In: An Honest Update
Jesse Sunquist put a GM in charge and stepped back to 5 hours a week — proud of the experience, restless about the outcome.Register for the webinar: Learn to Avoid the #1 Reason Acquisitions Fail - Thu, Aug 13 - https://bit.ly/4wPHY6RTopics in Jesse’s interview:Buying a business for flexibilityGeographical search in New JerseyLowering his minimum SDE threshold to $300KAcquiring 2 Mosquito
$400k Profit Fixing Church Pews
Greyson Boerner traded startup life for a 28-year-old niche business — now on pace to grow revenue 50% in year one.Register for the webinar:Learn to Avoid the #1 Reason Acquisitions Fail - TODAY!! - https://bit.ly/4z0fkBxTopics in Greyson’s interview:Founding software startupsETA as a path to stabilityGetting his education with Acquisition LabFinding business brokers through Google MapsUn
Surviving a 2-Month Revenue Freeze in Year 1
Chibunna Chimezie's seller left $15k in the account. His post-acquisition liquidity is the only reason he made it. Register for the webinar:Learn to Avoid the #1 Reason Acquisitions Fail - Thu, Aug 13 - https://bit.ly/4wUCNSYTopics in Chibunna’s interview:His family’s immigration story from NigeriaInterest in how American healthcare worksLearning to manage risk in business schoolAcquiring
Second-Time CEO Buys a $30m Title Company
Randy Rempp turned around a $17m insurance business as a rookie CEO, then used that track record to raise a search fund. Register for the webinar: The 3 Paths to Franchising for Acquisition Entrepreneurs - TODAY!! - https://bit.ly/4yGEhSeTopics in Randy’s interview:From insurance lawyer to business operatorLeading 300 employees at age 29Why ownership beats being the hired gunSwitching to
Acquiring Isn't Always a One-Way Door
Gabriel Cruz Avila bought a $1.4M remodeling business, weathered a divorce and burnout, then sold it two years later. Register for the webinar: The 3 Paths to Franchising for Acquisition Entrepreneurs - Thu, Aug 6 - https://bit.ly/4pY7VOXTopics in Gabriel’s interview:Lessons learned from his dad’s businessGetting bored in the oil and gas industryJoining ETA Circle in HoustonLeaning on his
How 1 SBA Loan Brought Down 2 Businesses
Edgar Galindo and his partner bought 2 businesses with SBA loans. Now he's facing the consequences of shuttering both.Topics in Edgar’s interview:Construction background in his family business“Google-funded search”Wanted flexibility to start a familyAustin-only geographic search Found partner through SearchfunderFirst deal: Austin landscaping companyBuying a second business within 6 month
60% Concentration That Killed an Exit
Raj Mahajan bought a salon software business, tripled it to $11M ARR. Then his biggest customer launched a competitor.Register for the webinar:Tax Issues: Entity and Deal Structuring - TOMORROW!! - https://bit.ly/4frQstmTopics in Raj’s interview:Wanting to move “from coach to quarterback”Buying a niche point-of-sale software companyConverting to cloud-based SaaSGrowing recurring revenue f
Product-Market Fit in the Trades: 4x in 2.5 Years
Patrick Beal left tech to buy an HVAC business with 90% seller financing, no SBA. He's on track to hit $3.5m this year. Register for the webinar: Working Capital: One of ETA’s Most Expensive Mistakes - TODAY!! - https://bit.ly/4f8pSGYTopics in Patrick interview:Entrepreneurship in his familyZoom fatigue from remote workSearching in Northeast OhioFinding a business through his networkMeeti
No SBA, No Investors: The Liquidity Access Line
Brian Jungles bought a $400k direct mail business in Atlanta and skipped SBA by pledging his portfolio as collateral.Register for the webinars:Don't Rush: How to Prepare for a Quality of Earnings Report - TOMORROW! - https://bit.ly/3T4OQOJWorking Capital: One of ETA’s Most Expensive Mistakes - Thu, Jul 23 - https://bit.ly/3T1aELeTopics in Brian’s interview:Leaving his corporate career at
Acquiring a $7m Niche Marketing Agency with 50 Employees
Rob Belk networked his way to "the most caffeinated guy in town" searching for a local business — then found it online. Register for the webinars:From Working IN the Business to ON the Business: How Owners Make the Transition - TODAY!! - https://bit.ly/4aKP3fYDon't Rush: How to Prepare for a Quality of Earnings Report - Tue, Jul 21 - https://bit.ly/4feY1DPTopics in Rob’s interview:Geograp
Escaping the J-Curve in a $700k SDE Ecom Business
Chris Farkas endured a 7-week fetal position moment when he finally found a website bug that had cost him $500k in sales.Register for the webinar:From Working IN the Business to ON the Business: How Owners Make the Transition - Thu, Jul 16 - https://bit.ly/4vRBhk8Topics in Chris’s interview: Going through Acquisition LabFirst deal fell through on Christmas EveAcquiring an ecommerce busine
Never Worked Harder, Never Been Happier
After 25 years in corporate, Gina Rosen bought a jewelry wholesaling business with $635k in sales — now on track to $1m.Register for the webinar: Finance Essentials Before You Close - TODAY!! - https://bit.ly/4fcxTdKTopics in Gina’s interview:Leaving corporate for more family timeDecoupling her salary from her valueAcquiring the supplier for her side gigHer mistake with buying inventoryKe
Career Consultant Who Bought a 7-Figure Manufacturer
Buying a metal fabricator with $1m in earnings pivoted Paul Callahan into the new entrepreneurial chapter of his career.Register for the webinar: Finance Essentials Before You Close - Thu, Jul 9 - https://bit.ly/4eMaUowTopics in Paul’s interview:M&A, integrations, and private equity experienceCOVID Zoom fatigue sparked career pivotAtlanta’s crowded deal market challengesHiring buy-sid
(replay)Art of the Roll-Up: 40 Businesses in 4 Years
Jeff Homer bought a small local music school as a fun side hustle. It turned out to be the opportunity of a lifetime.Topics in Jeff interview:Switching from high finance to music schoolsBuying his first music school as a side projectRaising growth equity after first 2 acquisitionsAcquiring a music school every monthArtists’ negative predisposition toward sellingComparing profitability of
Growing a $5m Metal Business 40% in Year 1
Caleb Standafer believed in manufacturing and wanted to spend his career there. A multi-year pivot and ETA got him in.Topics in Caleb’s interview:Moving from tech to manufacturingManufacturing is important for our country7 years operating before searchingThe manufacturing concept of “going to Gemba”His 4-year part-time searchTaking time weekly to develop his leaders Partnering with his da
How to 4x EBITDA in 3 Years Without Growing Sales
Ned Tomasevic navigated an early crisis then grew EBITDA to $6m and exited at over 8x, four turns higher than he'd paid.Register for the webinar: Transferable Skills: Crafting Your Resume for SBA Lenders - TODAY!! - https://bit.ly/4v3KOnfTopics in Ned’s interview:Being the first American in his familyUtilizing 20 interns for outreachAcquiring with help from a search fundPost-closing disco
Leaving $700s/Yr to Buy an Underperforming Printing Business
Dominick Smith left a lucrative track in PE to pursue a path that offered more meaning. Buying a business has delivered.Register for the webinars: Overcoming Common Deal Sticking Points - TOMORROW!! - https://bit.ly/3Qx1g0WTransferable Skills: Crafting Your Resume for SBA Lenders - Thu, Jun 25 - https://bit.ly/4uOEqQDTopics in Dominick’s interview:Leaving a lucrative job in his late 20’sD
From Software to Concrete Cutting (and $1.4m of SDE)
When the owner refused a seller note in the $6m transaction to sell his business, Tom McCormick had to get creative.Register for the webinar: Understanding a Quality of Earnings Analysis: What's Included and Why - TODAY!! - https://bit.ly/43sZcKnTopics in Tom’s interview:From IBM executive to acquisition entrepreneurBuilding banker relationships to source better dealsClosing on his first
Good Bones: Saving a $3m Business in Decline
Despite his love of operations, Himmat Singh intended to own his acquisition passively. Then the lead sales guy quit.Register for the webinar: Understanding a Quality of Earnings Analysis: What's Included and Why - Thu, Jun 18 - https://bit.ly/4vhhY3tTopics in Himmat’s interview:Operating a business for a billionaire in IndiaRan traditional search, closed zero acquisitionsTargeted recessi
How to Buy a $20m Business as a First-Timer
When Alan Turkus found a business with a mission, he knew he'd found the right fit for the final chapter of his career.Topics in Alan’s interview:Background in book publishingPost-MBA career in techTaking a career break to raise his sonFrom co-op cashier to co-CEOSeeking security through business ownershipAcquiring a home health and hospice franchiseRaising equity from search investorsRet
How to De-Risk the Personal Guarantee
Brendan Burdette and Ryan Conner have launched personal guarantee insurance to enable more — and stronger — SBA buyers.Register for the webinar: Score It or Skip It: A Framework for Fast Deal Evaluation - Thu, Jun 11 - https://bit.ly/3Q1D9qMTopics in Brendan & Ryan’s interview:Psychological weight of the personal guaranteeBuilding a personal guarantee insurance productTaking the risk
The Origin Story of a Compounder ($80m and Counting)
Greg Shapiro & Zach Cooper-Vastola are building a long-term, compounding business they see as the anti-PE of the trades. Register for the webinar:Franchising for the ETA Buyer: Resales, Roll-Ups, and Real Deals - TODAY - https://bit.ly/49sKF4HTopics in Greg and Zach’s interview:Founders combined technical and financial expertiseShifted from SaaS to long-term ownershipAcquired century-
Started as SBA Searcher, Built to a PE Fund
The first business Joe Wechsler bought had $280k of SDE. Seven years later, he runs a fund with $50m of buying power.Register for the webinar: Franchising for the ETA Buyer: Resales, Roll-Ups, and Real Deals - Thu, June 4 - https://bit.ly/4vnGP5uTopics in Joe’s interview:Background in management consultingInspired by Rich Dad Poor Dad to own assetsJoining an early cohort of the Acquisitio
Buying $1.5m of Earnings Without an SBA Loan
As a South African in the US, Justus Luttig had to get creative to search then buy 2 trades businesses at the same time.Register for the webinar: New $10m Limit for SBA Loans: What You Need to Know - TODAY!! - https://bit.ly/4v3zKXhTopics in Justus’s interview: Growing up on a cattle ranch in South AfricaDisillusioned with the venture capital bubblePerception of white collar work as “the
The Magic of Low Multiple + Growth
David Graf went after a business that had sat on the market, acquiring $750k of EBITDA for 2.7x. It's going well.Register for the webinars: Negotiating Working Capital in SMB Acquisitions - TOMORROW!! - https://bit.ly/4a2ozGeNew $10m Limit for SBA Loans: What You Need to Know - Thu, May 28 - https://bit.ly/49j3V4tTopics in David’s interview: Drive to earn money as a kidChoosing to skip bu
Rolling Up an Industry with 1.5x Multiples
Truc Nguyen has acquired 2 nail salons, an overlooked but fragmented industry where businesses trade at low multiples.Register for the webinar:Negotiating Working Capital in SMB Acquisitions - Tue, May 26 - https://bit.ly/4eQfCTRTopics in Truc’s interview:Why she chose the nail salon industryHer vision for a rollupAnalyzing a current nail salon business listingLow multiples in the nail sp
The Origins and Future of a 9-Figure SMB Holdco
Gant Elmore and Matt Moldenhauer each bought $2m businesses they built over years. Today their holdco does over $200m. Register for the webinar:Revenue Recognition & Quality of Revenue in SMB Deals - TOMORROW!! - https://bit.ly/4dMvx4wTopics in Matt & Gant’s interview:3 generations of acquisition entrepreneursMatt started as operator, became partnerBain mentors warned Matt not to
Too Good to Be True: Year 1 in a $700k SDE Business
Zack Mutnik thought he bought a $1.5m electrical contracting business for 2.3x. The numbers weren't what they seemed.Register for the webinar:Kill It Early: Spot Red Flags Before Spending on Diligence - TODAY!! - https://bit.ly/4eBVO6ETopics in Zack’s interview:Learning leadership in the NavyManaging chaos with ADHDUndisclosed surprises after acquisitionReplacing 8/10 employeesHeavy empha
How to Structure Around Risk in a $250k SDE Acquisition
Alicia Powers wanted to buy a general contractor but understood the risks in such businesses and negotiated accordingly.Register for the webinar: Kill It Early: Spot Red Flags Before Spending on Diligence - Thu, May 14 - https://bit.ly/4wqiYU3Topics in Alicia’s interview:Air Force construction experienceCorporate job at an elevator companyLeading a shower remodeling startupLayoff motivate
Buying Small to Build for the Long Term ($300k SDE)
Brendan Duebner's goal is to build a healthy, long-term business of 20-40 people. Buying a $1.2m MSP was his first step.Topics in Brendan’s interview:Learning to lead in the ArmySummer internship with Josh MedowCold calling is unpleasant but effectiveLiving and acquiring in the Bay AreaWorking in the business before closingSigns of seller integrity85% seller note with no personal guarante
A $800k Business to Start, $60m Portfolio Today
Andrew Blazenko has made 6 acquisitions over the last ten years. Pairing businesses with operators is key to his model.Topics in Andrew’s interview:Background as a business brokerWanted the exit joy for himselfDanger of low barrier to entryFinding great operators to run his businessesBusiness acquisition requires repsExecutive in Residence programRequiring operators to invest in the busin
Buying Then Losing a $2.1m HVAC Business
Dan Burnside thought he got a great deal on an $800k SDE business. Instead he'd bought bad faith and years of struggle.Register for the webinar: Add-Ons and Carve-Outs: How to Get Banks on Board - TODAY!! - https://bit.ly/4sO0MAtTopics in Dan’s interview:Buying in a small, rural areaDiscovering seller fraud after acquisitionKey employee leaves and starts competing businessWorking to inte
From $1m to $25m in 6 Years
Jeff Flannery is a great example of how franchising complements ETA, having rolled up 17 units since starting in 2019.Register for the webinars: Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - TOMORROW!! - https://bit.ly/4u9KyD6Add-Ons and Carve-Outs: How to Get Banks on Board - Thu, Apr 30 - https://bit.ly/3OpzRgxTopics in Jeff’s interview:Difference between a p
The Searchers Building a $10m EBITDA Powerhouse
Nicolás Lulli bought a document storage business in Peru. 6 years later, it is a $25m leader in the Andean region.Register for the webinar: Advanced Deal Mechanics: NWC, Net Debt & Purchase Price Adjustments - Tue, Apr 28 - https://bit.ly/490Ms0qTopics in Nicolás’s interview:First employee at Relay Investments search fundLaunched Peru’s first search fund, Colca CapitalCovid lockdowns
Buying a $40m Business as a 49-Year-Old First-Timer
Greg Hirsch wants more seasoned professionals to understand how valuable their experience can be to an ETA journey.Topics in Greg’s interview:Fifteen years learning systems at Sysco FoodsFailed startup revealed builder, not founder pathHelped scale trucking roll-up through industry consolidationRevisiting his “heck no” pileInvests in timeless blue-collar essential industriesLate-40s searc
How Business-Buyer Fit Led to 2.2x and No PG
Thanks to strong business-buyer fit, Joe Wynn negotiated great terms to acquire a $600k SDE sales & service business.Register for the webinar: Real Estate Issues When Buying a Business - TODAY!! - https://bit.ly/4smYdoQTopics in Joseph’s interview:Trading a mid–six-figure salary for business ownershipWanting to “build his own ladder” instead of climbing someone else’sBuying a medical
Buying a Business to Balance Ambition and Kids
Constrained in her job and seeking more time for her kids, Ana Lia Barragan bought a $385k/yr, 30-year-old business.Register for the webinars: Your First Finance Hires After Buying a Business - TOMORROW!! - https://bit.ly/3OvsNicReal Estate Issues When Buying a Business - Thu, Apr 16 - https://bit.ly/3PYIhf8Topics in Ana Lia’s interview:Wanted flexibility while raising two young childrenH
A Search Fund Journey to $350m
Jenna Whigham and her brother bought a large business for a search fund, then grew it 6x larger over the last 5 years.Register for the webinar:The Operator’s Perspective: Running a Business for an Owner - TODAY!! - https://bit.ly/4va4hUmTopics in Jenna’s interview:Investment banking during the 2008 crisisLaunching a traditional search fund with her brotherGolden Retrievers led to an acqui
"Life is Just Brighter" in a $1.2m Distribution Business
Joseph Cruz left a lucrative job in finance to pursue business ownership. Year 1 has gone well (despite losing his GM).Register for the webinars: What Type of Franchise Is Right for You? - TOMORROW!! - https://bit.ly/48gn6eHThe Operator’s Perspective: Running a Business for an Owner - Thu, Apr 9 - https://bit.ly/4m7lSZ7Topics in Joseph’s interview:Growing up in a Filipino immigrant family
From Small Acquisition to $30m Industry Leader
It took Robin Kovitz fours years to find her business, which she has built into an industry leader and her life's work.Register for the webinar:Quality of Technology (QoT) Report: Protecting Your Acquisition - TODAY!! - https://bit.ly/4d9F2enTopics in Robin’s interview:Upbringing in the meat industryEarly career in investment banking and M&AHer 4-year search for a businessAlways visit
How to Acquire 25 Franchise Units in 2.5 Years
Jack Foster & Jake McLaughlin raised $2.8m to buy 10 Meineke stores. That equity has taken them further than expected.Register for the webinars: Offshore Talent vs. AI for Business Buyers - TOMORROW!! - https://bit.ly/4bAIbTjQuality of Technology (QoT) Report: Protecting Your Acquisition - Thu, Apr 2 - https://bit.ly/4rUHngLTopics in Jack and Jake’s interview:Childhood friends turned
Turning $25k into a $3.2m Exit in Under 4 Years
Corey Mullins had worked in the trade over a decade when he bought a tiny, failing HVAC business for its phone number.Register for the webinars:What Actually Makes a Good Deal? Patterns from 1,000+ Transactions- TODAY!! - https://bit.ly/4m4gsy5Offshore Talent vs. AI for Business Buyers - Tue, Mar 31 - https://bit.ly/4uW6rXGTopics in Corey’s interview:His 20-year career in HVACFailed buyou
40% Growth in Year 1 of a Paving Business
Eric Donahue quickly grew revenue to $6m thanks to operational enhancements, culture tweaks, and a little good luck.Register for the webinar:What Actually Makes a Good Deal? Patterns from 1,000+ Transactions - Thurs March 26th - https://bit.ly/4lT2ajGTopics in Eric’s interview:Navy SEAL career and retirementPerforming the basics at a high levelHis tree service side hustleOld school propri
Leaving Wall Street to Buy a $1m Manufacturing Business
After 25 years on The Street, Brian Anderson discovered passion in buying small businesses — despite brutal challenges.Register for the webinar:How to Handle Common Employee Issues When Buying a Business - TODAY!! - https://bit.ly/4sa946lTopics in Brian’s interview:Career in investment banking/hedge fundsClosure of his firmPursuing small business as an asset classLow multiples are fairly
A $6.5m Business Worth Flying To
Naveen Vinta spends weekdays at the business he bought in Milkwaukee, away from home in Virginia. He's making it work.Register for the webinars: Add-Backs to Cash Flow for SBA Loans - Tue March 17th - https://bit.ly/4luTdgdHow to Handle Common Employee Issues When Buying a Business - Thurs March 19th - https://bit.ly/4dnIwtDTopics in Naveen’s interview:Army experience as a tank mechanicFu
Bricklayer to Blue-Collar Empire
After building a masonry business over 5+ years, Justin Escajeda bought his first company in 2018 and never looked back.Register for the webinars: From Owner to Owner: Business Transition Lessons - TODAY - https://bit.ly/46K82p5Topics in Justin’s interview:His early career as a stone masonGrowing his side jobs into a companyLiquidating his real estate investmentsFocusing on masonry niche
No SBA Loan and $75k Out of Pocket
After Megan McGee pivoted her search fund to a self-funded approach, she bought a business where she wanted to settle.Register for the webinars: From Owner to Owner: Business Transition Lessons - Thu March 12 - https://bit.ly/4ctCJCwTopics in Megan’s interview:Family background in pest controlInternship with previous guest Edward McDonnellStarting out in traditional searchInvestors decli
Growing Profits 30% in the First 1.5 Years
Jonathan Taylor has quickly grown revenue 40% at his acquisition through digitization, process improvement, and sales.Topics in Jonathan’s interview:Searching while working full-timeHis “now or never” moment approaching 40Restricting his search to Los AngelesOver-equitizing the dealStructuring a forgivable seller noteAccepting 60% ownershipFinding long-term hold investorsBuying from a non
Second Time's the Charm as Owner of a $4m Business
After his first ownership experience ended badly, Joe Springsteen bought a $3.2m maintenance business that is thriving.Topics in Joe’s interview:Background in law and operationsDivorce as a catalyst for changeAcquiring a biohazard cleanup businessDoing cleanup himselfHis original growth thesis failedSelling the cleanup businessHis “Codie Sanchez phase”Prioritizing geography in his searchA
Taking a Single-City Acquisition Nationwide
Edward McDonnell bought a local services business via traditional search fund and grew it to 8 branches across 5 states.Register for the webinar: SMB Cybersecurity: Why Operators Need a Risk Assessment - TODAY!! - https://bit.ly/4u2GO7dTopics in Edward’s interview:Mechanical engineering at HondaChoosing traditional search for budgetAcquiring an indoor plant/landscaping businessGoing in wi
Year 1 in a $300k SDE Services Business
Scott Crosby weathered the challenges that come with buying a 4.5-employee services business, and Year 2 is looking up.Register for the webinars: Common Legal Diligence Issues (and How to Handle Them) - TOMORROW!! - https://bit.ly/3OQhm4lSMB Cybersecurity: Why Operators Need a Risk Assessment - Thu, Feb 26 - https://bit.ly/4bY1KWeTopics in Scott’s interview:His 2 major career-defining mom
How to 4x a Small Manufacturer
Tato Corcoran returns with updates on her ownership of a sink maker that had just $400k in revenue when she bought it.Register for the webinar: Red Flags That Kill or Reshape Deals - TODAY!! - https://bit.ly/4rsjvlaTopics in Tato’s interview:Growing her top line revenueFinding a mentor at StarbucksCreating an employee handbookReconfiguring the factory with new equipmentHow she implements
Exiting for Millions vs. Long-Term Hold
Don Grigg reflects on the different outcomes for 2 businesses he bought in his 30s, one of which became his life's work.Register for the webinar: Red Flags That Kill or Reshape Deals - Feb 19th - https://bit.ly/468vw6WTopics in Don’s interview:Discovering his passion for manufacturingSearching for “small, broken companies” to acquireClosing on 2 businesses within 6 monthsHow plastics recy
How to Own 20% of Multiple SMBs
In addition to buying his own business, Evan DiLeonardi trades buy-side services for equity in other SMB acquisitions.Topics in Evan’s interview:Entering the Airbnb spaceJoining Ben Kelly’s acquisition groupBuying a commercial cleaning businessBeing a remote “workaholic”Realizing he bought a business in distressFirst year in survival modeGetting a team of great managers in placeHis “Equit
$20m Net Worth After 25 Years Buying Businesses
He started by buying a small flooring business in 2000. Today Paul Lajoie takes home $1m a year and works how he wants.Register for the webinar:Why Deal Flow Isn’t Your Biggest Problem - TOMORROW! - https://bit.ly/4ah8L1ETopics in Paul’s interview:Background in Big Six accountingBuying the first business he looked atPartnering with his brotherDownsizing his lifestyle in the beginningUnder
SBA Deal Structuring to Manage Risk in a Cyclical Industry
Andrew Kurzrok connected with his seller over his manufacturing background, leading to a successful deal and transition.Topics in Andrew’s interview:Background in science and national labsSpending all his time traveling for workWanting to stop traveling when his son was bornStudying management at YaleGaining management experience before searchingMaking a “no” listSuccess with cold calling
$250k SDE Acquisition: Limited Downside, Big Upside
Sensing untapped potential, Ville-Matias Vilén bought a sub-million manufacturer with good IP and global distribution.Topics in Ville’s interview:Desire to “eat what he kills”1990’s Finnish RecessionAversion to solving people problemsAcquiring a cattle brush manufacturerFunding his deal in FinlandPatents as a moatRelocating the manufacturing 5 hours awaySharing ownership with his family’s
The Late 40s Pivot Into Business Buying
Despite success in corporate, Jarom Wren wanted more freedom, so he traded 5 figures of salary for 7 figures of revenue.Topics in Jarom’s interview:Realizing he was renting himself to a corporationMid-career risk assessmentSearching for a digital businessChoosing the lowest cost Q of E“Deals want to die”Risks of a 4-year old e-com businessOffering education as well as DIY productsDeciding
The First Steps to a Family Holdco
Family planning and entrepreneurship converged as Linh & Leo Van Deibel bought their first (and not last) business.Topics in Linh & Leo’s interview:Making the case for business acquisitionTaking family planning into accountSearching in the UK as a non-citizenBeing taken seriously as an Asian womanTheir goal of building a holdcoThousands of meetings with sellersSearch is a numbers
Buying a Platform with an SBA Loan
Jacob VosWinkel searched in tertiary markets to find a successful flooring store, his platform to build something big.Register for the webinar:What You’re Really Paying: Net Working Capital & Net Debt Explained - TODAY!! - https://bit.ly/49WI4AoTopics in Jacob’s interview:Recommending markets of 50k-100k peopleScraping BizBuySell listingsReaching out to 200 potential investorsRaising
The Contrarian Bet on a Digital Agency
George Stern leaned into changing consumer search habits when he bought a digital marketing agency doing mid-7 figures.Register for the webinars: Which Franchise Industries Make Sense in 2026? - TOMORROW!! - https://bit.ly/4jQCN0UWhat You’re Really Paying: Net Working Capital & Net Debt Explained - Jan 22nd - https://bit.ly/49mgU5YTopics in George’s interview:Turning around an Amazon
Comfortable Concentration for a $800k SDE Business
Phil Koller studied the concentration and key man risks in a distribution business well-suited to him — and went for it.Register for the webinar:From W2 to Owner Mindset: How to Think About Your Take-Home Pay - TODAY!! - https://bit.ly/4r5RsI3Topics in Philip’s interview:Preferred working in a small companyHis friend talked him into real estate, then ETAInspired by Rich Dad, Poor DadImpor
Buying for Brand (Then Growing 4x)
Matt Orley wanted to enter the short-term rentals space. Buying a business — and a brand he admired — was his way in.Register for the webinars:DO’s and DON'Ts of the LOI - TOMORROW!! - https://bit.ly/3YtLIvpFrom W2 to Owner Mindset: How to Think About Your Take-Home Pay - Jan 15th - https://bit.ly/4qJ1Xk5Topics in Matt’s interview:Investment properties as a side hustleEvolving short-term
8-Figure Exit After 5 Years
Adam Vandermyde had to be persuaded to acquire the $15m business that he ultimately professionalized and exited to PE.Register for the webinar: How to Present Your Deal for Maximum SBA Success - TODAY!! - https://bit.ly/3KW7aWLTopics in Adam’s interview:Leaving consulting 2 months from making partnerTaking on the CEO role at the target before closingFocusing on EBITDA over revenueA constr
Complexity Hides Fragility: Losing a $20m Business
Joe Odell and his partner acquired a business with over $4m in earnings and lots of green flags. It went sideways fast.Register for the webinar: How to Present Your Deal for Maximum SBA Success - Jan 8th - https://bit.ly/4snUKHYTopics in Joe’s interview:His blue collar, military backgroundVolunteering without pay for a consulting companyUltimately rejecting the tech industryFinding his se
Buying Small to Then Buy Larger ($1m SDE)
The first business Joe Soelberg bought did $400k SDE. The experience and cash flow enabled a second, larger acquisition.Topics in Joe’s interview:Leaving corporate for a chance to manage P&LHis toughest pitch was to his wifeAcquiring a 3D design firmPivoting hard during CovidHiring a manager with a design backgroundAcquiring a branding agencyDifference between branding and marketingRe
Passion & Profit in an American Pastime
Former pro bowler Mike Fagan bought a $2m bowling center with a plan to roll up and rejuvenate these legacy businesses.Topics in Mike’s interview:His professional bowling careerConnecting with a bowling-specific brokerEconomic role of league bowlersThe decline of bowling in AmericaTraditional bowling vs BowleroBuying a traditional, older bowling alleyRunning leaner to pay down debtEmploye
When You Buy a Glorified Job, Not a Business
Tato Corcoran packed a lifetime of learning (and tears) into 18 months when she left tech & bought a tiny manufacturer.Topics in Tato’s interview:Connecting with sellers through direct mailHer “Say yes and figure it out later” approachDifficulty in hiring unskilled laborHow she solved her labor issueBeing a single woman in a male industryLearning Spanish to communicate with her employ
Getting Unstuck by Buying a Business
The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths.Topics in Christian’s interview:His front row seat to the 2008 financial crisisQualities of a top salespersonBusiness acquisition as a way out of a miserable careerShopping around for an SBA loanChoosing to play to his strengths and outsource his weaknessesDifficulty in h
How to Buy a Generational Brand with $20m in Sales
Respected consumer brands are not common in lower middle market acquisitions, but Philip Hussey and Chenmark bought one.Topics in Philip’s interview:Chenmark’s acquisition of Thomas MoserLeading a furniture business as a non-craftsmanChenmark’s hold-forever intentionWait times for custom, hand-made furnitureLong tenure of craftsmenCommitment to world-class qualityGetting away from offerin
Reward for 17-Month Deal: $1.8m of EBITDA
Robert Gayden worked for over a year to buy a home care business. Revenue kept growing but the price remained the same.Register for the webinar: What Killed Deals in 2025 - TOMORROW!! - https://bit.ly/44r1pH5Topics in Robert’s interview:Influence of his late fatherThe “go bigger” search philosophyAppeal of the home health care industry17-month acquisition processChoosing to operate “in th
The 7-Year Collapse of an SBA Acquisition
Scott Duncan endured brutal ups & downs — and personal depression — during his ownership of a doomed tool & die businessRegister for the webinar: How to Model an Investor-Backed Search Acquisition - TODAY! - https://bit.ly/3XysjZBTopics in Scott’s interview:Wishing he had listened to his gutThe risk of EBITDA (vs. revenue) concentrationManaging highly skilled primadonnas Employee
SBA Acquisition to $9m Cash Exit in 5 Years
Andy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exitRegister for the webinars: How to Invest In SMBs (Without Buying One Yourself) - TOMORROW!! - https://bit.ly/4rBI4NbHow to Model an Investor-Backed Search Acquisition - Dec 11th - https://bit.ly/4owBkNWTopics in Andy’s interview:His experience as an Army intelligence off
ETA Unicorn: $1 Billion in Revenue in 5 Years
Steve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected.Register for the webinars: How to Run the SBA Deal Race - TODAY!! - https://bit.ly/3Xh3WQbHow to Invest In SMBs (Without Buying One Yourself) - Dec 9th - https://bit.ly/44Gylv1Topics in Steve’s interview:Experience working for WalMart corporateSearching while working ful
Buying for $600k, Selling for $35m
Jake Bittner bought an unprofitable carve-out doing $3m. A key pivot grew revenue to $20m and got the attention of PE.Register for the webinar: How to Run the SBA Deal Race - Dec 4th - https://bit.ly/44whqv6Topics in Jake’s interview:Building a nest egg before leaving his jobFallout from his father’s failed businessesCalculating the value of a business losing moneyDisliking the bureaucrac
When a $2.8m Acquisition Is More Like Zero-to-One
Dave Gilbert spent 2 years fixing the model and customer concentration of the $750k SDE family business he bought with SBA debt.Topics in Dave’s interview:Leaving tech to buy a white collar businessMeeting with 120 owners while searchingBuying a business he initially passed onRisks of family members as employeesFinancial surprises after the transitionLosing 23% of revenue when clients lef
When to Buy a Large Consumer Business
Taylor Mattingly found high-quality revenue in an unusual and sizable B2C business that he happened to be a customer of.Topics in Taylor’s interview:Being Co-CEO with his best friendBuying a business he was a customer ofAcquiring a business in his hometownConfusing, deregulated Texas energy marketHow Energy Ogre differs from a typical brokerKeeping his call center in Texas“Set it and forg
The Dream Outcome: From $300k to $5m EBITDA
From the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually.Register for the webinar: What a Good Investor Pitch Looks Like -TODAY!! - https://bit.ly/3LYM4H2Topics in Linh’s interview:The "Three Rs" search criteriaBeing an undercover owner for 18 monthsEliminating 70-hour workweeks for his techsStruggling with work-life balanceImpl
Buy Well, Exit Better: A $67m Win in 4 Years
Greg Geronemus bought a highly-profitable travel business at favorable terms, helping to ensure a great return on exit.Register for the webinar: What a Good Investor Pitch Looks Like - Nov 20th - https://bit.ly/47YbVXjTopics in Greg’s interview:Challenges of searching in New YorkCobbling together a search fund in earlier days of searchStrategy of cold email outreachAcquiring at age 26Part
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