Acquiring Minds Buying Small, Growing Big: From $1m to $26m
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Mar 14, 2024 John Wilson shares his journey of growing a small plumbing business to $26m, with plans for $100m. Topics include family business, acquisitions, ad spend during Covid, why he buys small businesses, installing an operator, and the challenges of scaling a business. He discusses the taxonomy of blue collar businesses and shares references for further learning.
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First Acquisition Turnaround
- John acquired his first turnaround company in 2018 for $110,000, doubling his business overnight.
- The acquisition was tough, requiring layoffs and turning around a bankrupt business but marked a pivotal career moment.
Ad Spend Drives Growth
- Cutting marketing spend during downturns kills growth and talent retention.
- Doubling or tripling down on advertising even in tough times fuels growth and staff loyalty.
Advantages of Buying Small
- Buying small businesses lets you learn the business and manage risk effectively.
- Starting small gives you deal flow advantages and safer paths to scale big later.