Rick and Royce tackle listener questions about transitioning from academia to acquiring businesses. They delve into the pros and cons of self-funded versus traditional searches, sharing common pitfalls to avoid. The conversation shifts to the complexities of valuing small businesses and the importance of real estate in acquisitions. They also explore entrepreneurial opportunities in emerging markets, underscoring the need for local knowledge and flexibility. Finally, they reflect on key lessons learned, including debunking myths around the risks of buying established companies.

Jerod Pierce, a CEO who rose from challenging circumstances, shares his inspiring journey through acquisition entrepreneurship. He discusses how educational opportunities transformed his life and led him to purchase Mercurio's Heating & Air Conditioning. Listeners gain insights into the mindset needed for entrepreneurial success, the strategic decisions behind his acquisition, and the impact of effective marketing. Jerod's story emphasizes resilience and the transformative power of American capitalism, offering motivation for aspiring entrepreneurs.

Greg Edwards, Founder & CEO of Onsight Healthcare, shares his entrepreneurial journey from sales to building a healthcare business. Joined by Jim Cumbee, an experienced M&A advisor, they discuss the crucial roles of sellers and brokers in the business sale process. Topics include the importance of adaptability in small business, navigating post-pandemic challenges, and how personal engagement can enhance business relationships. They also explore strategies for maximizing business value and the nuances of evaluating potential buyers.

Nick Wheeler, an acquisition entrepreneur and the new CEO of NSCA & Tra-Cal, shares his journey through the whirlwind of his first months in leadership. He discusses the challenges of managing broken deals during his search, what drew him to this profitable small business, and the importance of building strong relationships with sellers. Nick reflects on his strategic approach to Day One, navigating the complexities of working capital, and the steep learning curve of leading a niche industry. His story highlights the excitement and fulfillment of entrepreneurship.

In this engaging discussion, Alexander Wallace, a New Zealand native who recently returned home after years in the U.S., shares his quest to find a profitable small business to acquire. He reveals his motivations for leaving a stable job, the unique opportunities in New Zealand's market, and his strategic focus on geographic searches in less competitive areas. Alexander also dives into self-funding advantages and the potential of roll-up strategies while contemplating the challenges and excitement of entrepreneurship.

Heather Endresen, an expert in SBA lending and owner of Viso Business Capital, shares her decades of experience. She highlights the extraordinary benefits of SBA loans for first-time business buyers, including favorable terms and flexibility compared to conventional loans. The discussion dives into personal guarantees, the importance of structuring loans wisely, and the process of navigating defaults, especially in challenging times like the COVID-19 pandemic. Ideal for anyone considering entrepreneurship through acquisition!

Michael Orzetti, a former Marine Corps signals intelligence officer and current CEO of Eastern Communications, discusses his remarkable journey into entrepreneurship. He shares how personal traits and company attributes contribute to the success of first-time CEOs. Michael emphasizes the importance of sticky customers for new leaders to learn. He reflects on financial strategies during his self-funded business search and the significant growth of Eastern Communications. His insights shed light on the balance between leadership, family commitments, and navigating the complexities of acquisitions.

As an acquisition entrepreneur, Jackie Kopcho is now CEO of Tortorella Swimming Pools, where she leads a team that engineers, builds, and services pools on Long Island, in southeastern New York State. When searching for a company to acquire, Jackie wasn’t looking for this particular industry or location. Rather, she was on the lookout for those qualities that lead to an enduringly profitable business, such as recurring revenue and low customer concentration. This company stood out from the rest as an ideal acquisition target. In this episode, Jackie discusses her overall process of discovery, the experience of coming into the role of CEO, managing challenges associated with a seasonal business, her deep focus on customer service, and more.

Business school graduates Ari and Allan discuss the choice between buying a business or working for someone else post-MBA. They compare leadership, risk, and career aspirations, as well as funding options and geographic preferences. Insights into self-funding challenges, autonomy in entrepreneurship, and the CEO role are shared, highlighting the benefits of owning a business and navigating the decision-making process.

In this episode, Daniella Bertolotti and Steve Goulas discuss the more traditional startup route versus entrepreneurship through acquisition. Just weeks ahead of their graduation from business school, and thinking about what’s next, both are looking for control over their professional lives, want to be in a position where they make decisions that matter, and value rewards being closely tied to the work that they do.  We learn that those who lean more towards founding their own company often have a very specific passion for one industry and a commitment to one location, while people who decide to walk the path of an acquisition entrepreneur are often more focused on the nuts and bolts of managing a business. As you’ll hear, though entrepreneurship through acquisition isn’t for everyone, it is a path that every would-be entrepreneur should consider.