Acquiring Minds Finding a Great Business in Cow Country
May 23, 2024
Cody Agee shares his journey of buying a recession-resistant food testing lab, bypassing business school and using 401(k) funds. He discusses pricing based on earnings reports, finding investors on Twitter, and the benefits of personally guaranteeing seller notes. Additionally, he talks about the importance of licensing requirements, EBITDAR vs. EBITDA, and utilizing an enterprise resource planning system.
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Intro to Search
- Cody Agee learned about search from a coworker, Anthony Bronco, who left JP Morgan to buy a business.
- Bronco partnered with another JP Morgan colleague and successfully exited the business last year.
Self-Funded Search
- Consider a self-funded search if traditional routes like top business schools don't work out.
- An MBA isn't essential for running a successful self-funded search.
No Ideal Background
- There's no single background or industry ideal for search; it's a personal journey.
- Tailor your search to your unique skills and experience.