Acquiring Minds

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

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