Acquiring Minds

Iris Levine, the owner of The Porch Company, shares her remarkable journey from a challenging Nashville upbringing to becoming a successful entrepreneur. She discusses acquiring a 30-year-old construction firm and the unique obstacles she faced, including financing it with just 5% down. Iris highlights the importance of leveraging technology in project management and the strategic decisions that come with running a business. She also emphasizes finding work-life balance and the supportive community that has shaped her entrepreneurial path.

Dan Drake, owner of Industrial Applied Electric, shares his journey from CPA to entrepreneur, emphasizing family and community ties in Bend, Oregon. He dives into negotiation strategies, including seller-financed deals and the intricacies of bundling real estate with business acquisitions. Dan discusses overcoming challenges like sales dips and improving inventory management. He highlights the significance of understanding customer needs and maintaining a strong connection with the community, embodying the lifestyle change they sought through their business investment.

Gat Caperton, owner of Gat Creek, shares his journey of transforming a struggling furniture manufacturer in West Virginia. He discusses acquiring the business at just 29 and the lessons learned from iconic figures like Sam Zell. Gat dives into the importance of smart competition and lean manufacturing, revealing how he cut lead times in half. He also addresses the challenges posed by international trade and the successful lawsuit against unfair practices from China. With heartfelt reflections on family and community, he showcases the resilience of American manufacturing.

Nik Hulewsky, a dynamic entrepreneur, shares his exhilarating journey of acquiring a medical billing firm and a home health business during the pandemic. He delves into the surge in demand he predicted, the critical role of relationships with sellers, and learning from personal trials in tough negotiations. Hulewsky also reflects on the importance of aligning skills with industry trends and navigating the emotional roller coaster in entrepreneurship. His insights offer invaluable lessons for aspiring entrepreneurs aiming for success in challenging markets.

Christiana Laugen, a former tech professional, shares her daring leap into entrepreneurship by acquiring a 40-year-old pool maintenance business. She delves into her motivations for leaving the corporate world, emphasizing her desire to 'eat what she kills.' Christiana discusses the rapid changes she made, including restructuring her team and enhancing operational efficiency through technology. She also highlights the unique challenges of commercial versus residential services and the exciting potential for growth in what many consider 'boring businesses.'

In this conversation, Eric Bauer, a former Amazon employee turned entrepreneur, shares his journey into the world of small business ownership after acquiring Turner Hat, a $3 million apparel brand. He discusses the transition from corporate life to entrepreneurship and the challenges of managing a team in a new culture in Alabama. Eric highlights the skills he gained at Amazon, the intricacies of navigating business acquisitions, and the importance of employee motivation. He also reflects on personal growth amid the emotional rollercoaster of running a smaller brand.

Justin Willess, a former owner of a construction business in Northern Virginia, shares his harrowing journey after liquidating his 401k to buy an $8.5 million company. He reveals the frustration of discovering cooked books from the seller, leading to financial chaos and potential loss of his home. Justin reflects on the importance of due diligence and how emotional turmoil can impact leadership. He also expresses his desire to acquire again, bolstered by the resilience gained from his challenging experience.

Greg Bruns, a former banker turned entrepreneur, shares his journey into the world of business ownership with Allied Hydro Mulch, an erosion control company. He discusses the challenges of transitioning careers and reveals the unexpected realities of ownership. Topics include the critical importance of erosion control to infrastructure and the impact of weather on finances. Greg also highlights the intricacies of cash flow in project-based businesses and the benefits of involving employees in decision-making.

Marc Nzojibwami, co-owner of ABL Imaging Group, shares insights from his journey building a long-term holdco in Calgary. He discusses the initial struggles of launching businesses in university and the power of partnerships in acquisitions. After acquiring a 40-year-old sign shop, they grew EBITDA by 30% in just a year. Marc emphasizes the importance of deal structuring and navigating financial constraints in Canada, alongside the resilience of the sign-making industry amidst economic shifts. Tune in for his practical strategies and future acquisition plans!

Taylor Wallace, an expert in selling to private equity, joins Tyler O'Connor, a returning guest and successful business owner, to explore the complexities of private equity transitions. They discuss the pain points of managing teams during shifts and the critical evaluation of good versus bad private equity partners. Tyler shares insights from his military background and how it informs his leadership style while navigating the challenges of a seasonal business. Together, they highlight innovative strategies for growth through partnerships and the emotional motivations behind entrepreneurial journeys.