Acquiring Minds Margins in Mulch: Buying a $1m Erosion Control Business
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Oct 10, 2024 Greg Bruns, a former banker turned entrepreneur, shares his journey into the world of business ownership with Allied Hydro Mulch, an erosion control company. He discusses the challenges of transitioning careers and reveals the unexpected realities of ownership. Topics include the critical importance of erosion control to infrastructure and the impact of weather on finances. Greg also highlights the intricacies of cash flow in project-based businesses and the benefits of involving employees in decision-making.
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Inspired by a Friend
- Greg Bruns, a former banker, was inspired to buy a business after seeing a college friend, Shane Ursham, do the same.
- This sparked his 10-year journey to entrepreneurship, exploring various business ventures before settling on acquisition.
SBA Loans as a Path
- Greg realized he could buy a business using SBA loans, a method he hadn't considered despite his banking experience.
- This realization, combined with the post-COVID environment and a desire to expose his children to entrepreneurship, motivated him.
Blue-Collar Millionaires
- Greg's banking experience exposed him to many blue-collar business owners who had built wealth over decades.
- He observed a common pattern of their children being uninterested in taking over the family business.