Think Big, Buy Small

In this discussion, Jenn Braus, CEO of Systems Design West, shares her inspiring journey from process engineer to business owner. She highlights the benefits of recurring revenue in her new venture. Jenn reflects on the challenges of the acquisition process and the emotional aspects of entrepreneurship, especially as a woman in the field. The conversation also delves into customer retention strategies, adaptable service during the pandemic, and the importance of aligning personal values with business acquisitions for true job satisfaction.

In May of 2021, after a self-funded search, Nick Vandam became CEO of MCI, a telecommunications infrastructure company based in St. Paul, Minnesota. In this episode, he shares his distinct journey, including his days at West Point; competing in triathlons on the U.S. National Team; deployment in Afghanistan; work experience at a large financial services company and then at a doomed startup; followed by graduate school and employment at Raytheon, all the while inching closer and closer to entrepreneurship through acquisition. Once headed down the ETA path, a number of challenges and opportunities presented themselves to Nick, leading him to important realizations about buying and then running a small business. Tune in for insights on the accessibility of acquisition entrepreneurship, due diligence challenges, the beauty of cigar butt businesses, leadership, and so much more.

Geoff Duckworth, a successful entrepreneur known for acquiring and selling a small business, returns to share his latest ventures. He discusses the allure of traditional jobs versus entrepreneurship, offering insights from his journey. Duckworth reflects on his growth as a second-time searcher and the evolving competitive market. He highlights the unique challenges of navigating business in Vermont's small economy and emphasizes the importance of networking. Finally, he reveals a new business opportunity that has him excited about the future.

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.