Acquiring Minds

Josh Medow's journey of revitalizing a decades-old business into a high-growth company, buying a business with no money down, the transformational power of EOS, his military experience in comparison to business leadership, laser focusing on one target market, creating a SaaS tool for customers, his plan to IPO, and what matters to him more than money.

Former startup founder Tim Ericson shares his experience transitioning to buying a small business and his plans to double the business. He discusses his journey from a VC-backed startup founder, his vision to grow the business remotely, and his search for a remote-friendly business. Tim also highlights the importance of community in the Techstars accelerator program and the value of managing employees during the acquisition process. Additionally, he explores the business models of long-term leasing and short-term rentals, the advantages of remote operations, and the contrasting differences between VC startups and small business acquisitions.

August Felker discusses his experience buying a small business without an MBA, using cold calling to secure his first deal, and the resiliency of the insurance industry. He explores lessons in leadership, the benefits of self-funding a second deal, and his vision for building a brand. The podcast also covers the niche of working with searchers, the role of virtual professionals in business operations, and the challenges of starting an insurance brokerage.

HoldCoConf co-founder Kelcey Lehrich shares key findings from a survey of 100+ holdco operators about their businesses. Topics in Kelcey’s interview:How HoldCoConf startedWhy holdcos are so popularArguments against holdcosThe “everything tastes like chicken” layer of businessSurprising survey resultsWhat becomes possible at $50M in revenueHiring leadership in holdcosDebating centralized vs decentralized modelsUse of global hiringConcerns about a recessionReferences and how to contact Kelcey:LinkedInTwitter365 HoldingsHoldCoConfHoldco Survey12 previous Acquiring Minds interviews with holdco entrepreneurs:From Determined Searcher to $75m Accidental HoldcoOne Year Later: Holdco Grows to $75m in Total RevenueBuilding an HVAC Holdco to £60m in RevenueFetal Position to Foundry Holdco ($30m & Counting)Snowball Effect: Getting to $45m in 3 YearsBirth of a Holdco (with 15 Acquisitions to Date)How to Build a Holdco (4 Acquisitions So Far)7 Years Later: Leaving Wall Street to Buy Small Businesses5x in 5 Years: Buying Small to Grow QuicklyHow One Tiny Acquisition Grew Into a HoldcoGrowing a Small 1st Acquisition into a Holdco PlatformHow to Build a Holdco Around Company CultureLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter

Discover Nick Akers' journey as he buys a business to create a supportive and employee-first leadership. Topics include his background as an inventor, the appeal of the MSP industry, building a positive company culture, and the importance of cash flow. He shares his plan for bolt-ons and reflects on his first 2 months as CEO. The podcast also discusses the benefits of using a search accelerator, the impact of company culture, and the process of closing a deal with the support of an accelerator.

Nick Wheeler reflects on investing countless hours to buy a beautiful business, only to have the seller kill the deal.Topics in Nick’s interview:Finding a commercial landscaping businessWinning the sellers’ trustHow he interpreted early red flags Lessons learned about due diligenceConflict with sellers over working capitalWhy the deal fell apartThe financial cost of the broken deal The emotional cost of the broken dealHow brokers can help (or hurt) your dealWhat Nick is most grateful forReferences and how to contact Nick:LinkedInnick@sage-succession.comHood & StrongGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

George Goates bought a small shuttle business that he's grown 4x in 8 years, partly by running buses for municipalities. Topics in George’s interview:Buying a transport/bussing companyPivoting into operating city busesImportance of relationships in securing contractsImpact of CovidGovernment corruption in urban transitPromotion opportunities for his employees Nasty cost of doing business in bussing: frivolous lawsuitsPotential for inorganic growth through acquisitionsDifferent niches within transportRelevance of a finance background in his businessReferences and how to contact George:LinkedInRTW ManagementLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition Lab Get complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Sajama Mitta wanted to make strategic decisions at the head of an organization. Buying her own business was the answer. Topics in Sajama’s interview:Using her investing background to evaluate businessesBuying an environmental health and safety consulting companyHow the founders made themselves replaceable How they keep their clients in compliance with regulationsThe fragmented nature of the industry and opportunities for growthHow California compares to other states on regulationsThe problems she enjoys solvingThe importance of team empowerment and employee satisfactionShifting the quality of revenue and focusing on recurring projectsThe technical knowledge she has gained since buying CDMSReferences and how to contact Sajama:sajama@cdms.comLinkedInChemical Data Management SystemsWomen in Small Business Statistics in the U.S.Get a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Manny Saxena quickly bought 3 street-sweeping businesses to become the largest player in NorCal. A big PE fund noticed. Topics in Manny’s interview:The importance of maintaining a strong pipeline during searchWhy he chose a street-sweeping business during COVIDThe transition into running a blue-collar business and motivating the teamWhy he recommends in-person conversations with sellersAdvice for other immigrants in businessThe importance of attitude and soft skills in hiringManaging long-term contracts in an inflationary environmentThe decision to sell the business to a private equity firmThe pros and cons of having a union presenceHis ongoing roll-up strategy in the solar industryReferences and how to contact Manny:LinkedInHBR Case Study: Swept Up in Uncertainty at PowerSweepingMars Equity PartnersConnect with A-players who can run your business remotely:More Staffing Get complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

Karl Hughes recently bought a podcast production agency & explains why "productized service" businesses are attractive. Topics in Karl’s interview:Starting a super-niche content marketing businessThe benefits of productizing a serviceSaying no to the wrong revenueWhat he learned about using cold outreach to find sellersAcquiring a podcast production company with his partnerWhat he likes about digital businessesHis vision to build a holdcoThe small changes he made immediatelyWhy buying small was the right move for himCashflow management in digital businessesReferences and how to contact Karl:TwitterLinkedInKarl’s article Buying a Business: Acquiring the Podcast ConsultantThe First 90 Days by Michael D. WatkinsDraft.devThe Podcast ConsultantLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabConnect with A-players who can run your business remotely:More StaffingConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter