Acquiring Minds

Keegan Dum, former CEO of EGENuity, shares his journey from a challenging two-year search for a business to a successful acquisition and exit. He reveals the emotional toll of walking away from multiple deals and the importance of perseverance. Keegan discusses the role of software in the car wash industry and how effective pricing strategies can boost retention. He highlights the complexities of negotiating terms with investors and the significance of personal relationships in business transactions, showcasing his path to triumph after setbacks.

Ken Eyjolfson, the owner of Mr. Liquidator Mattress, shares his journey from a firefighter to a successful mattress retailer. He discusses the complexities of buying a business, revealing the ups and downs of navigating acquisitions in the Canadian mattress industry. Ken sheds light on his unique warehouse-style business model, the significance of social media, and strategies for expanding through pop-up shops. He also highlights the essential role of clean financial records and strong supplier relationships in achieving success.

Matt O'Brien, owner of Professional Fence Co., shares his entrepreneurial journey from managing FedEx routes to acquiring a fencing business. He discusses his strategic approach to buying and expanding businesses, emphasizing the importance of thorough research and operational efficiency. O'Brien reveals the challenges of leadership transitions and the necessity of keeping key employees during ownership changes. He also explores the impact of market trends on business valuations and the complexities of post-acquisition management.

Jared Benoff, owner of VacationEase, dives into the vibrant world of travel agencies, specifically destination weddings. After a nine-year stint at Twitter, he shares insights from acquiring his family business, debunking the myth that the internet has phased out travel agencies. Jared highlights the importance of niche markets, innovative marketing strategies, and exceptional customer service. He also discusses the financial advantages of family business acquisitions and the growth potential for modern travel agencies, showcasing their adaptability in a digital age.

Kevin Moyer, co-founder of Golden Home Access and former Smash My Trash franchisee, discusses his journey from wanting to buy a business to starting his own. He shares insights on the value of reversible decisions and why simplicity can often be a strategic advantage. Moyer emphasizes the emotional connection between a business and its owner, and reflects on the benefits of partnering in entrepreneurship. He also critiques recurring revenue models, advocating for the potential of project-based businesses in today's market.

Adam Salmen, CEO of UMEC and former corporate executive, discusses his adventurous leap into acquiring an eight-figure multinational company. He shares insights on navigating global acquisition challenges, the complexities of the steel industry, and the importance of operational diligence. Salmen emphasizes the necessity of finding genuine business opportunities beyond mere presentations and recounts the hurdles of crowdfunding attempts that didn’t pan out. His journey showcases the strategic alignment of personal skills with industry needs.

Jed Morris, a former Air Force veteran and tech professional, shares his journey from military service to business acquisition and the lessons learned from his failed ventures. He discusses the pitfalls of misjudging employee dynamics and insurance costs after purchasing landscaping businesses. He highlights the importance of transparency and due diligence in acquisitions while addressing the emotional struggles of transitioning from a secure job to ownership. Jed also provides insights into the ‘little black swans’—unexpected challenges that can derail even the best-laid plans.

Shaugn Lindley, a former tech sales professional turned entrepreneur, shares his inspiring journey of transitioning to forklift repair ownership after a layoff. He discusses the importance of mentorship and networking, revealing his unconventional decision to bypass landscaping ventures. Shaugn emphasizes the significance of following up with potential clients, overcoming hiring challenges, and standing out in a competitive market. His insights into acquiring a niche business shed light on the resilience required in entrepreneurship, especially while preparing for a new family.

Harley Sitner, the owner of Peace Vans, transformed a struggling VW van repair shop into an eight-figure brand, demonstrating the power of passion and customer connection. He discusses his journey from the tech world to entrepreneurship and the emotional dynamics of small business ownership. Harley dives into VW van culture, the nuances of overpaying for a failing business, and the importance of brand loyalty. He also shares insights on building multiple revenue streams and developing an app for VW owners, showcasing innovation in a niche market.

Nick Muncy, co-owner of Hales Engineering, shares insights from his journey in acquiring a traffic engineering firm. He discusses managing a business from afar and reveals lessons learned from both successful and near-miss acquisitions. Nick delves into the emotional and financial challenges of the consulting industry, including cash flow management and maintaining customer relationships during ownership transitions. He also emphasizes the importance of building strong leadership and navigating lender challenges in the consulting landscape.