The Importance of Time Value in Early Career and Effective Financial Management

Register for the webinars:

• Using a Sale-Leaseback to Buy a Business - Thu Feb 20 - https://bit.ly/3QjGZYR

• First 100 Days: Survive & Thrive as a New Business Owner - Wed Feb 26 - https://bit.ly/4hCxC2G

Subscribe to the new podcast, Meeting of the Minds:

• On YouTube
• Spotify & Apple links coming soon!

Lucas Philips bought a niche manufacturer with $200k SDE, aiming to make it an ecommerce/DTC business. It's working.

Topics in Lucas’s interview:

• How his startup mindset influenced his acquisition
• Buying a super-niche manufacturer at age 23
• Motivating staff (or not) with $3/hr raises
• Learning to fire and trust his instincts
• Modernizing the business
• Advantages of buying a business young
• Anxiety issues post-acquisition
• How bolt-ons have lengthened the J curve
• Expanding into the Porsche market
• Looking ahead to using AI

References and how to contact Lucas:

• LinkedIn
• lucas@newarkauto.com
• Newark Auto
• Benjamin Ross Group
• Ben Jasper on Acquiring Minds: Factory Life: Buying a Manufacturer with $1m SDE
• The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or hello@systemsix.com and mention Acquiring Minds

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Edited by Anton Rohozov
Produced by Pam Cameron