Acquiring Minds

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

Mitchell Sorkin started by buying 3 ATMs in 2021. Today he has over 140 machines and is targeting $5m EBITDA in 3 years. Topics in Mitchell’s interview:The difference between arbitrage and building a businessMitchell's journey to acquiring 140 ATM machinesHow to evaluate an ATM routeRevenue and margins in the ATM businessChallenges with SBA financingHis most controversial Twitter threadFuture plans to raise a fund3 ways to profit in the ATM businessDealing with theftHow people underestimate ATMsReferences and how to contact Mitchell:Stack InfluenceATM BrokerageMitchell’s Twitter thread about the Korean sellerinfo@sorkinatm.comMarshall & SterlingGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HR 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

Chris Munn, Bakari Akil, and Bruce Vann reflect on being Black men who bought businesses & why this path is so powerful. Topics in this interview:What inspires and motivates them as business ownersThe three necessary factors for capitalism to workUnclaimed opportunities for minority businessesThe impact of entrepreneurship on family and future generationsChanging your mentality to lead a company effectivelyBeing “buttoned up” vs. being authenticDealing with sellers who want to talk U.S. politicsOvercoming challenges and persisting in the face of adversityThe limitations of “climbing the ladder” in a W2Why now is the best time for Black people to buy businessesReferences and how to contact:Bakari Akil LinkedIn - Twitter - Graves Hall CapitalElliot Holland LinkedIn - Twitter - Guardian Due DiligenceBruce Vann LinkedIn - LuXout Products Inc - Blinds & MoreChris Munn LinkedIn - The Fairfield CompanyDame Dash Full Interview at The Breakfast Club Power 105.1Early Career LBOs Using the Search Fund ModelHBR Guide to Buying a Small BusinessWhy Should White Guys Have All the Fun? by Reginald F. Lewis and Blair S. WalkerLearn 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

Matt Huggins shares his journey of starting a holdco and growing it into a conglomerate of multiple businesses, from transitioning from academia to small business and professional online poker, to acquiring a utilities company in a ski town. He discusses the surprising complexity of running a utilities company, starting a manhole lining business, and the stability and diversity of the water industry. Matt also shares his approach to acquiring businesses without needing capital, the value of a fractional CFO, and the reward of helping employees. The podcast covers various topics related to entrepreneurship, acquisitions, and growth strategies.

Holdco entrepreneur Chase Murdock buys very small businesses with potential for rapid growth & decades of staying power. Topics in Chase’s interview:Starting a custom suit company with $750Decata Group's “car wash integration process” for acquisitionsWorkshop SLC’s 5x growth in the first year of acquisitionGetting out of the “small business death zone” ASAPThe knife fight of acquiring and growing small businesses The #1 ingredient in company buildingMaslow’s hierarchy of business needsWhat surprised him about the trades industryConviction in the ability to 5x a business in 5 yearsThe intellectual challenge of building a holdcoLinks and how to contact Chase:TwitterLinkedInDecada GroupTailor CooperativeWorkshop SLCBuilt by Design ConstructionNorthern Electric CompanyTatton BairdLearn 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

Amir Haboosheh was drawn to the double-opportunity in acquiring home services businesses: the financial, and the impact. Topics in Amir’s interview:Why Amir wasn’t interested in a digital businessOffering blue collar employees shares in the companySnowball’s plan for going publicSnowball’s playbook for operating businessesHow to hire a good GM for your businessHow to incentivize operatorsAcquiring a marketing companyWhy SDE isn’t everythingHow Anderson Air doubled revenue in 3 yearsRetaining the brands post-acquisitionLinks and how to contact Amir:LinkedInTwitterSnowballAcquiraEnduring VenturesThe Snowball: Warren Buffett and the Business of Life by Alice SchroederAnderson AirDigitally SavvyTraction: Get a Grip on Your Business by Gino WickmanGet A Grip: How to Get Everything You Want from Your Entrepreneurial Business by Gino WickmanGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet 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

Mark Sinatra returns to explain what to diligence from an HR perspective when buying your business. Topics in Mark’s interview:Top 3 things to diligence in your acquisition when it comes to HRHow industry associations can be a source of deal flow (once you're already acquired)"Book of business" acquisitionsBest type to execute add-on acquisitionsHow to prioritize what to integrate in an add-on acquisitionHow to recover from losing a big customerValue of personality profiling tools in hiringLinks and how to contact Mark:LinkedInmark@aspenhr.comETAequity.comAspenHR.comConnect with A-players who can run your business remotely:More StaffingLearn 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

Sam Rosati shares a framework to clarify your search criteria & reduce the months it takes to find a business to buy. Topics in Sam’s interview:The reason search takes so long How to speed up your search processUnderwriting criteria of SBA lendersKnowing how to kill a dealConsidering the fit of the searcher as CEOUnderstanding SBA loan frameworkImportance of recurring or repeating revenueOpportunities and risks in buying smallManaging criteria to get enough deals in the pipelineCommon mistakes searchers makeLinks and how to contact Sam:TwitterLinks to all Sam’s projectsPursuant CapitalNick HaschkaSam Rosati’s investor listRaise $800k to Buy an $8m Business  | Kevin Bibelhausen InterviewGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HR 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

James Bloom has 8x'd a small mechanical contractor he bought only 4 years ago, despite it being a competitive industry. Topics in James’s interview:How his background in M&A informed his due diligence processHow he ensured a smooth transitionCommercial HVAC vs. residential HVACWhy he funded growth out of his own pocketReducing his weekly work hours from 100 to 60How his business differentiates itself in the construction industryGrowing his staff from 8 to 80Growing revenue from $3M to $25MWorking with unionsBringing in outside capital to growLinks and how to contact James:jbloom737@gmail.comLinkedInExcel Mechanical ContractorsBuy your ticket to the ETA conference devoted to self-funded search:The Self-Funded Search Conference (Sep 30 & Oct 1 in Dallas)Learn 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

3 days into Monte Marcum's acquisition of an established franchise, key equipment breaks. Then the crises kept coming. Topics in Monte’s interview:Buying 2 existing & adjacent franchise businesses at onceHow Filta’s customer pricing is structuredWhy commercial kitchens love his businessCombining two businessesEquipment starts breaking on day threeMonte’s series of fetal position momentsWhat exactly is hard about running a businessHow one rockstar employee guided him through a season of crisisThe biggest risk of buying smallThe importance of a support systemLinks and how to contact Monte:LinkedInmonte@marcumbrick.comCodie Sanchez: These “Boring Businesses” Will Make You RichFilta Environmental Kitchen SolutionsJohn Schooler update episode on Acquiring MindsGet a complementary pre-acquisition HR & PEO review for your target business:Contact mark@aspenhr.com or visit Aspen HRGet 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