Acquiring Minds Reflections on 2 Years in the Knife Fight
Jul 25, 2024
Brett Kennedy shares challenges and successes of doubling a moving business. Talk about surprises from the seller, benefits of buying small, and daily stressors. Discusses hiring a GM, employee-customer relationship, and plans for the next acquisition. Touches on emotional struggles, business growth, and potential future acquisitions in Atlanta.
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The Uber Story
- Brett Kennedy refused to pay for an employee's Uber to work.
- He drove the truck himself, highlighting the unexpected challenges of small business ownership.
Small Business: Pros and Cons
- Smaller businesses offer lower risk and faster debt payoff, but demand more owner involvement, potentially slowing portfolio growth.
- This high involvement, while painful, provides intimate business knowledge, valuable for future acquisitions.
Focus on Management, Not Just SDE
- When evaluating a business, prioritize the presence of operational managers, not just SDE.
- This determines whether you'll work on the business strategically or in the business day-to-day.