Acquiring Minds

Closing on his 2nd acquisition in 10 months, Mike Botkin just became Central Florida's largest landscaping business.Themes from Mike's interview:Acquiring a second landscaping businessDropping customers to grow Developing a playbook for operating a landscaping businessTreating your employees rightDownsides of SBA loans and traditional search fundsThe invaluable resource of keeping the previous owner in the bizViewing landscaping from a logistics perspectiveWhy landscaping businesses are great acquisitionsReach Mike at:LinkedInOfficial episode page & full show notes at AcquiringMinds.co:How to Buy Landscaping Businesses

Jessica Markowitz used a traditional search fund to search for & ultimately buy a great business. But the road was long.Themes from Jessica's interview:Acquiring a business through a traditional search fundLeveraging an army of interns to power the searchSearch fund partnership with a close friend Maintaining a good relationship with a business owner even after they decline youRunning a legal services company without a law degreeReach Jessica at:LinkedInOfficial episode page & full show notes at AcquiringMinds.co:Anatomy of a Search: 40 Interns, 25 Months, 20 Offers

Lisa Forrest, a lender at Live Oak Bank with expertise in SBA financing, shares valuable insights into choosing the right lender for business acquisitions. She discusses the nuances of SBA loans, particularly for SaaS and eCommerce businesses. Lisa emphasizes the importance of preparing for conversations with lenders and understanding financial health. She also highlights common pitfalls, the significance of cash planning, and why the current market is favorable for buyers. Overall, her tips empower entrepreneurs to navigate the financing landscape confidently.

Shannon Jones explains how acquisition entrepreneurs should navigate the realities of buying a blue collar business.Themes from Shannon's interview:Killing relations with a blue collar seller by being too "quant"Importance of vulnerability when negotiatingHow to know if a blue collar business is in an industry that’s right for youManaging blue collar employees and common pitfallsTransitioning as a new owner of a blue collar businessWhen is the right time to make changes as a new owner?Reach Shannon at:s jones [at] halstattLinkedInHalstatt Legacy PartnersOfficial episode page & full show notes at AcquiringMinds.co:The Poetry of Buying a Blue Collar Business

Elliott Holland, a due diligence expert and founder of Guardian Due Diligence, shares his invaluable insights on acquiring small businesses. He highlights the pitfalls of seeking perfection in Letters of Intent and the crucial role of post-LOI information. Elliott emphasizes that early acquisition data can be misleading, and trust issues with sellers are common. He advocates for the importance of professional guidance and practical experience in navigating the complexities of financial analysis and broker influence during the acquisition process.

Nick Haschka, who grew a successful indoor plant services business in the Bay Area since 2016, shares his insights on the transformed landscape of business acquisitions. He highlights the effects of the 'silver tsunami' as baby boomers retire, making it tougher for newcomers. The shift from a hands-off approach in private equity has changed the game, while labor shortages complicate hiring. Also, the rise of no-code tools has revolutionized operations, allowing small businesses to thrive despite the competition in both B2C and B2B sectors.

Less than a year after acquiring a $1m medical billing business, Curt Neider is already looking for his second deal.Themes from Curt's interview:Buying a medical billing company doing ~$1 million/yearThe appeal of medical billing businessesBecoming a certified professional biller to understand the businessHow Curt immediately improved operationsSeparate line of credit for working capital (not rolled into SBA loan)Acquiring with a partner"Altruistic kicker" of buying a business that helps peopleSecond acquisition less than a year after the firstReach Curt at:LinkedInIlluminate Billing AdvocatesOfficial episode page & full show notes at AcquiringMinds.co:How to Buy a Medical Billing Business

Key lessons for acquisition entrepreneurs from Andrew Finn, who has grown a service business & acquired SaaS businesses.Themes from Andrew's interview:Opportunity in sub $1m EBITDA businessesSaaS vs. services businessGrooming an operator to extract yourself from the businessWhat makes a good SaaS acquisitionYour acquisition journey — just startJumping from labor to capitalCapital CampReach Andrew at:andrew at g64 ventures dot comG64 VenturesOfficial episode page & full show notes at AcquiringMinds.co:Investing Like an 1880s Businessman

Don't have the 10-20% cash to buy a business with SBA? Search investor Steve Ressler explains how to attract investors & structure the deal.Themes from Steve's interview:The 4 flavors of searchChoosing the right investorsSBA loan mathRaising the 10%Buying a business in an industry you don't knowSetting investor expectationsCommon mistakes to avoidReach Steve at:sressler @ gmail@steveresslerLinkedInHis newsletter, ETA MusingsOfficial episode page & full show notes at AcquiringMinds.co:Using Investors to Buy a Business with SBA

Sales had dropped to zero when Martin Bispels acquired Upper Park Disc Golf. A year later, they are nearing $2 million.Themes from Martin's interview:Buying a business on FlippaWhat Martin asks himself every day to be a good CEOCriteria used to identify a business to buyHiring the seller of the businessTrue cost of buying a businessMaking a detailed plan before acquiring the businessBuilding a team before acquiring the businessReach Martin at:martin at upper park disc golfUpper Park Disc GolfOfficial episode page & full show notes at AcquiringMinds.co:Growing a Flippa Business to $2 Million