Acquiring Minds

How to Buy a $5m Business & Hire an Operator to Run It

May 1, 2023

01:32:59

Creator website

Episode guests

Matthew Saskin

Highlights

AI Chapters

Episode notes

Phantom Equity vs True Equity (Exec Compensation Structure)

01:34

Building Culture as a Competitive Advantage

01:14

The Deals They Were Looking For and Their Exit Plan

01:25

Understanding How He Brought on An Operator on Day 1

01:23

Introduction

3min

How to Buy a Small Business 10% Down SBA Loan and Not Be the Owner Operator

5min

The Importance of Investing in the Right Markets

2min

How to Find the Right Brokers for Your Business

2min

How to Reinvest in a Search Business

2min

How to Buy a Business That's Up to Your Limit

2min

How Many Times a Week Are You in the Office?

2min

How to Decrease Your Time in a Business

3min

The Differences Between a Traditional Services Business and a $5 Million Agency

2min

10.

How to Succeed in a Small Software Business

4min

11.

The Misstep of Not Appreciating Disruptive Transitions

2min

12.

The Importance of Understanding Your Background

2min

13.

How to Find a Business That's Right for You

3min

14.

The Importance of Outsourcing Management

3min

15.

The Importance of Capital Allocation in SMB

3min

16.

The Advantages of Buying a Business and Putting on an Operator

2min

17.

The Importance of Culture in Small Business

4min

18.

Building a Culture of We Can Fix Problems

3min

19.

How I Found Matt on LinkedIn

5min

20.

How Search Funder Helped Me Find a Job in North Carolina

2min

21.

How to Find a Good Operator for Your Business

2min

22.

What Differentiated Matt From Other GMs?

2min

23.

How to Structure a Compensation Package That Works for You

4min

24.

The Tax Advantages of Phantom Equity

2min

25.

The Importance of Understanding the Towing Industry

2min

26.

How to Invest in Small Businesses Different From Investing in Real Estate

2min

27.

The East Coast Towing Industry

3min

28.

The Growth of the Heavy Duty Towing Industry

3min

29.

The Recurring Nature of Towing

5min

30.

The Three Most Profitable Companies in the Police Industry

2min

31.

How Google Positions Cash Call Towing Companies

2min

32.

The Doom and Gloom of Finding Drivers

2min

33.

Why the Towing Industry Is Not Going Anywhere

3min

34.

East Coast Towing: The Top 2% of Towing Businesses in the Country

2min

35.

How to Reach Out to PE Analysts

2min

It CAN be done: Matthew Saskin recently acquired a big towing business, hiring an operator to run it from day 1.

Topics in Matthew Saskin’s interview:

Why he chose a towing company
Putting in an operator from day one
Improvements he made right away
Why he kept his day job (and how he manages it)
His COO’s compensation package
What is phantom equity (and how it’s different from true equity)
How real estate investment is different from SMB ownership
The landscape of the towing industry
Revenue streams for towing companies
How they recruit drivers

Links and how to contact Matthew:

Matt's business plan. We decided not to link to it directly. Email Matt to request a copy, and he'll share it with you directly 👇👇
msaskin@eastcoasttowing.com
LinkedIn
Twitter
East Coast Towing

Learn more about Walker Deibel's done-with-you buy-side advisory:

The Acquisition Lab

Connect with A-players who can run your business remotely:

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Connect with Acquiring Minds:

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

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