Acquired 5 Companies: How to Survive a Business Partnership Breakup -TWICE

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In this video, Jeff Evenson shares his story of how he acquired 5 companies (and sold) and then had to survive a business partnership breakup....Twice! 

Jeff shares the lessons he learned from these experiences and offer tips on how you can avoid some of the most common mistakes made in business partnerships.


Show Notes:
00:00  Intro
00:26  Terrible Employee
01:34  First Acquisition:  Hair Salon $3.5 Million in Sales
03:01  Valuation - Lofty Opinion vs. Reality - How to Solve this problem
06:56  Who took over Operations?
07:30  Was your wife 50/50 partners & Divorce
09:20  Were you happy/unhappy with sale price?
11:30  The 2 tuck-in acquisitions - Off Market Deals
16:10  Did acquisitions help multiples
18:29  Most difficult challenge in the hair business
21:07  Top 3 things Jeff would not do in next acquisition - 1 of 3 the Shootout! 
24:49  How to pick Charlie Munger / Warren Buffet type partners
27:06  Buying a Precision Machine Shop Acquisition 5X Multiple with No Money
34:24  Seller Note or $12 Million Check in the Bank
38:47  Noticing Warts in the partnership - Make me an offer
41:00  Top 3 Things Don't Do   2 & 3  of 3   
49:10  Coaching Veteran Business Owners
50:32  What is Lions Pride with Bill Watkins
53:13  Being comfortable with your speed or yeti