Before You Buy or Sell a Business Navigating Entrepreneurship Through Acquisition | Ep. 43 Part 1
In this two-part episode of the @beforeyoubuyorsellabusiness I sit down with my borrowers, Peter Hucal and Garrett Johnson, two dynamic entrepreneurs from Wharton who embarked on a journey of Entrepreneurship Through Acquisition (ETA).
Their diverse backgrounds across engineering, project management, social impact, and consultancy have uniquely positioned them for success in the acquisition space. Tune in as they share authentic insights into their professional path and elaborate on the intricacies of navigating such an acquisition in today's market.
Embarking upon a 13-month journey, Peter and Garrett discuss their extensive search for the right business, sharing the trials, errors, and eventual triumphs they encountered along the way. By focusing on core business fundamentals rather than specific industries, they outline how their open mindset towards geographical and sector-based opportunities guided their success. Alongside key strategies for maintaining broker relationships and insights on necessary interpersonal skills, the duo candidly dissects the realities of acquisition, dispelling myths of ease perpetuated by various online narratives.
Stay tuned for part two of this episode for what business Peter and Garrett settled on and the strategic partners they sought out.
Key Takeaways:
- Adopting a flexible strategy in ETA, being open to any industry or geography, can enhance the success rate.
- Building strong relationships with brokers is crucial and can lead to greater success in finding suitable deals.
- The process of finding and acquiring a business is complex and often requires resilience in face of numerous setbacks.
🟢 Spotify
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If you have questions for Jared, visit https://jaredwjohnson.com/
DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.