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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:
Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
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Connect with Acquiring Minds:
Edited by Anton Rohozov
Produced by Pam Cameron
