Wait... what? You laid-off 90% of your staff?!? - Acquisitions Anonymous Episode 92

Bill D’Alessandro (@BillDA) hosts this incredible episode with special guest Peter Erickson (@smbpete). Pete walks us through his incredible journey, starting as an apprentice in the physical therapy business, going through his transition into a business owner, leadership challenges, layoffs, getting things thrown at him, overcoming disease to returning to a lost business, buying mistakes & what he’d do differently.

This is a packed episode, buckle up!

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Show Notes:
0:48 Cloudbookkeeping.com
1:59 Pete Erickson - The Summit Physical Therapy, CEO
3:34 Transitioning from employee to owner. How did you finance your acquisition?
4:24 You bought a Clinic. What happened next?
5:45 Let's dig into those pushbacks, why were they so pissed off? How did you handle the situation?
7:03 You mentioned maintaining people that weren't culturally fit for too long, what happened?
10:42 Wait what? You laid off 90% of the staff?!?
13:02 How does a captain handle a mutiny on the ship?
15:48 Buying too small & buying a job: What did you learn about the business size that you're going to buy?
17:56 One of the huge traps of buying a business
19:31 How to avoid a confusing marketing message?
22:24 Growing and developing team members: When should you do it in-house and when should you invest in training? - Peter Principle
24:48 How do you build processes and systems that help people to be autonomous?
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Links:
* https://www.thesummitpt.com/physicaltherapy
* Connect with Pete
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Additional episodes you might enjoy:
#90 Move over Elon - Here's what we'd do if we acquired Twitter
#87 Yelp is not evil! Building a business using digital CAC - Featuring Johnny Robinson from Orange Window Cleaning
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