Acquiring Minds

Before embarking on his search, Alex Glasner interviewed 50 searchers & uncovered 2 key attitudes necessary for success. Themes from Alex’s interview:Wanting to run a business, but not knowing where to startLearning from people whose searches failedThe importance of moving quickly with sellersBuying a mission and not just a jobThe value of being decisive in a searchMerging proprietary and brokered search stylesPausing to understand the business before making another acquisitionReach Alex at:alex at workpays dot co dot uk

Looking to buy a part-time online biz as he neared retirement, Dave Bramlett found it in a resume service doing $1.5m. Themes from Dave's interview:Making a career of buying small businessesBuying a functioning business allows for immediate cash flowFinding businesses on BizBuySellBring in the experts for due diligenceMaintaining a positive relationship with the sellerKnow your strengths as a buyerAlways be open to new businesses for saleReach Dave at:dave at resume writing group dot com

Brandon Adams bought a $850k EBITDA ice delivery company only to discover he'd be doing deliveries himself for 6 months. Themes from Brandon's interview:Doing a local proprietary searchIdentifying brokers you can trustManaging purchase price after an anomalous yearThe silver lining of a due diligence oversightBeing a great leader as a new ownerThe appeal of owning businesses in various industriesReach Brandon at:brandon at k4inv dot com

In this podcast, Damon Chlarson shares his criteria for buying a business and how he found them in an insulation supplier. They discuss defining acquisition criteria, finding your niche, imagining yourself in the job, tapping into people's talents, and finding opportunities in times of crisis. Damon also talks about mental health and business success, looking back and growing ambition.

Frustrated after losing 3 jobs, Bruce Vann used savings to acquire a 25-employee, 7-figure curtain manufacturer for 2x. Themes from Bruce’s interview:Paying 2x for a growing 70-year-old businessBuying a business to pull out of a career rutWhy finding a business is like a full court shotThe need for persistenceAbandoning a proprietary search because of seller overvaluationsChasing down leads and not becoming complacentThe importance of documenting business processes in case of sudden staff departuresDealing with uneasy staff during the transition periodThe experience of acquiring a business as a Black man in the U.S.Reach Bruce at:bvann at luxout dot com

After seeing 9-figure businesses built through acquisition, Adrian Pinto bought a landscaping biz to build one himself. Themes from Adrian’s interview:Buying a $3-5M landscaping business with 15-20% marginsPaying 3x, but rapid growth making it more like 2xWhat a buy-side advisor is and when it might make sense to work with oneHow COVID helped his search processWhy doing his own search was less stressful than a traditional search would have beenThe excitement versus the reality of acquiring bolt-ons to your platform businessBeginning with the idea of building a strong base for future growth (chassis concept)Waiting & observing for months before introducing changes to company processesReach Adrian at:adrian at georgia scapes dot com@Adrian_Pinto2LinkedIn

The 3 founders of Chenmark left promising corporate careers to pursue a multi-decade path of acquiring small businesses. Themes from the interview with James & Palmer Higgins:Why the Chenmark founders decided to do thisLessons learned from 30+ acquisitionsHow the founding thesis is performing 7 years inThe value of an "extreme delayed gratification muscle"Intellectual stimulation in corporate life vs. small businessBuying big vs. buying smallHow has competition in search evolved over the last 5 yearsChenmark’s diversification strategyOther recommend podcasts where Chenmark has appeared:Invest Like the Best: Trish and James Higgins of Chenmark Capital - Permanent EquityThink Like An Owner: Trish Higgins, Chenmark CapitalThink Like An Owner: Trish Higgins – Chenmark Five Years LaterThink Like An Owner: Palmer Higgins – Moving to the Operating Side – Ep. 43Think Like An Owner: Palmer Higgins – Removing Sales Roles at Mainely Grass – Ep. 61The Commercial Landscaper: James Higgins - Reinforcing Areas to Create a More Scalable PlatformThe ThriveTime Show: What’s Your Business Worth? Buying Small and Mid-sized Businesses with Chenmark CapitalSubscribe to: Chenmark’s Weekly Thoughts.

With 4 acquisitions since starting in 2018, Justin Turner explains how his team is building a permanent equity holdco. Themes from Justin’s interview:The appeal of holding on to companies for a longer periodWhy buying a $4-5M business might be easier than buying a $1M oneLetting the seller relationship develop naturallyWhy paving companies make great acquisitionsWaiting to finalize the equity until after the deal is in handSetting acquisitions up in a holdco structureReach Justin at:j turner at traction cp dot com

In this podcast, the speaker shares their experience of buying a $760k appliance repair company. They discuss their specific search criteria, the decision to buy instead of starting a business, and the importance of choosing a steady industry. They also talk about the established sense of community in the business, the choice between using investors or not, and the focus on improving the business rather than day-to-day operations. The speaker emphasizes the importance of having fun and building trust with employees who don't work in the office.

Knowing zero about manufacturing, Josh Paulson found purpose when he bought a small & struggling producer of pet cages. Themes from Josh's interview:Owning the business saved his lifeWhat manufacturing is likeFiring all but 1 employee (who spoke little English)Reducing the product line from 2000 SKUsRebuilding a business with limited resourcesReach Josh at:Quality Cage