Acquiring Minds

Justin Willess, a former owner of a construction business in Northern Virginia, shares his harrowing journey after liquidating his 401k to buy an $8.5 million company. He reveals the frustration of discovering cooked books from the seller, leading to financial chaos and potential loss of his home. Justin reflects on the importance of due diligence and how emotional turmoil can impact leadership. He also expresses his desire to acquire again, bolstered by the resilience gained from his challenging experience.

Greg Bruns, a former banker turned entrepreneur, shares his journey into the world of business ownership with Allied Hydro Mulch, an erosion control company. He discusses the challenges of transitioning careers and reveals the unexpected realities of ownership. Topics include the critical importance of erosion control to infrastructure and the impact of weather on finances. Greg also highlights the intricacies of cash flow in project-based businesses and the benefits of involving employees in decision-making.

Marc Nzojibwami, co-owner of ABL Imaging Group, shares insights from his journey building a long-term holdco in Calgary. He discusses the initial struggles of launching businesses in university and the power of partnerships in acquisitions. After acquiring a 40-year-old sign shop, they grew EBITDA by 30% in just a year. Marc emphasizes the importance of deal structuring and navigating financial constraints in Canada, alongside the resilience of the sign-making industry amidst economic shifts. Tune in for his practical strategies and future acquisition plans!

Taylor Wallace, an expert in selling to private equity, joins Tyler O'Connor, a returning guest and successful business owner, to explore the complexities of private equity transitions. They discuss the pain points of managing teams during shifts and the critical evaluation of good versus bad private equity partners. Tyler shares insights from his military background and how it informs his leadership style while navigating the challenges of a seasonal business. Together, they highlight innovative strategies for growth through partnerships and the emotional motivations behind entrepreneurial journeys.

George Tibil and Keith Fields, co-owners of a ServiceMaster Clean franchise in Buffalo, share their transformative journey from corporate roles to entrepreneurship. They discuss the challenges of turning around a struggling janitorial business, achieving a remarkable 60% sales increase in just nine months. Their insights cover managing a diverse workforce, the importance of cultural understanding, and effective partnerships. Tibil and Fields emphasize hands-on involvement and strong relationships as keys to success in the blue-collar sector.

Dustin Fusillo, a first-time business buyer, shares his eye-opening journey into acquiring a struggling ATM parts and services business. He discusses the emotional rollercoaster of personal growth after divorce and losing money in multiple ventures. Dustin emphasizes the importance of mentorship, navigating acquisition challenges, and the harsh realities of misreported financials. He also highlights resilience during tough times, using strategies like meditation and financial analysis to cope and adapt as he learns valuable lessons during his entrepreneurial journey.

Corey Robinson, owner of 12 Batteries Plus locations and an HVAC entrepreneur, shares his impressive journey from corporate employee to franchise owner. He reveals the thrill of rapidly expanding his franchise from 4 to 14 locations, the challenge of managing teams remotely, and the lessons learned from a tough HVAC acquisition. Corey discusses the advantages of franchising versus independent businesses, the strategies behind successful acquisitions, and the importance of maintaining company culture across multiple sites. His insights are both inspiring and instructional for aspiring entrepreneurs.

Brittney Orellano, a savvy entrepreneur, dove into the world of business acquisition by purchasing a garage door company after years in property management. She shares the rollercoaster of challenges during her first year in operations, including unexpected costs and cash flow issues that led to tough decisions like layoffs. Brittney also discusses innovative marketing strategies and team dynamics, highlighting the importance of employee retention and adaptation in a service-oriented business. Her journey is both inspiring and insightful, perfect for aspiring business owners.

Rory Tyer, a former loyal customer turned entrepreneur, shares his journey of buying a neighborhood nursery. He discusses the advantages of purchasing in a high-growth area and the emotional connection his kids have with the business. Rory negotiates a fantastic deal on the garden center and reveals the unique challenges of staffing a seasonal business. He highlights gardening as a remedy for screen fatigue and emphasizes the importance of community engagement in retail. His story is one of transforming passion into profit while finding peace and purpose.

Michael Kelker, who acquired a $2.5 million pallet manufacturer, shares his journey of building a family legacy through entrepreneurship. He discusses the challenges of self-funding versus traditional methods, emphasizing control and autonomy in his work. Kelker highlights navigating the pallet industry during COVID-19, including rising material costs and savvy deal-making. He also reflects on the importance of nurturing relationships, learning from employees, and adapting strategies to thrive amidst a competitive market.