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Acquiring Minds

By: Will Smith
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  • Summary

  • Buying a business is an amazing path for many successful entrepreneurs. Learn how to buy a business from the entrepreneurs who have already done it. 2x per week: stories, insights, & valuable advice about acquisition entrepreneurship. Hosted by Will Smith, who is on his own path to acquire a business. Also on YouTube: https://www.youtube.com/@AcquiringMinds Sign up for episode summaries at: https://acquiringminds.co
    2021 - 2023, Acquiring Minds
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Episodes
  • When a Restaurant Is a Great Business to Buy

    When a Restaurant Is a Great Business to Buy
    May 16 2024

    Jarett Berke told his intermediary "no restaurants" but changed his tune when he saw what a great business Lou's was.

    Topics in Jarett’s interview:

    • Finding a business through an accountant
    • Why restaurants are a tough business
    • Comparing military service to running a restaurant
    • Buying a restaurant with exceptional margins
    • Learning every job in the restaurant
    • Pivoting to delivery during Covid
    • Doing a stock deal instead of an asset purchase
    • Reinvesting by adding tables and renovating
    • 60% growth in 6 years
    • What he likes about the restaurant business

    References and how to contact Jarett:

    • LinkedIn
    • Lou’s Restaurant
    • jarett@lousrestaurant.com

    Get complimentary due diligence on your acquisition's insurance & benefits program:

    • Oberle Risk Strategies - Search Fund Team

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of Pioneer Capital Advisory

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter
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    1 hr and 30 mins
  • Building a $10m Platform from 2 Low-SDE Businesses

    Building a $10m Platform from 2 Low-SDE Businesses
    May 13 2024

    Scott Walton bought 2 barely-profitable blue collar companies, changed the culture, unlocked growth & hired a president.

    Topics in Scott’s interview:

    • Acquiring with a partner
    • Solving their recruitment problem
    • Doubling revenue in 18 months
    • His 3-step LOI strategy
    • Incentivizing good customer service
    • Improving their company culture
    • Challenges after acquisition
    • Financing without the SBA
    • Creative deal structuring
    • His thoughts on buying small

    References and how to contact Scott:

    • LinkedIn
    • scott.walton@matrixmechanical.ca
    • Home Service Expert Podcast

    Get a complementary pre-acquisition HR & PEO review for your target business:

    • Contact mark@aspenhr.com or visit Aspen HR

    Learn more about Walker Deibel's done-with-you buy-side advisory:

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter
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    1 hr and 36 mins
  • Holdco Origin Story: The Bumpy Road to $3m EBITDA

    Holdco Origin Story: The Bumpy Road to $3m EBITDA
    May 9 2024

    4 acquisitions, 3 years after the first deal, and 2 dishonest sellers before Chandra Rao went full-time in his holdco.

    Topics in Chandra’s interview:

    • Learning from due diligence mistakes
    • Losing $300k in the first year
    • Challenges with payment terms and working capital
    • True value of a seller note
    • One of his partners embezzled from the companyFppp
    • Choosing a conventional loan over SBA
    • The electrical contracting and fiber optic cabling businesses
    • 6x growth in 4 years
    • Juggling a roll-up and a W-2
    • A seller who committed fraud

    References and how to contact Guest:

    • LinkedIn
    • chandra@millermn.com
    • Miller Utilities

    Get a complementary pre-acquisition HR & PEO review for your target business:

    • Contact mark@aspenhr.com or visit Aspen HR

    Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

    • Matthias Smith of Pioneer Capital Advisory

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter
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    1 hr and 42 mins
Leadership Economics Personal Finance
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Profile Image for konner

The BEST Searchfund Advice!

We love Will Smith and the insights his podcast gives to us that is applicable for the whole deal process. He will even bring on guests on years later for them to recap on the transition process and everything in between.

Thanks for everything, Will!

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Profile Image for Sia Bani

The best way to learn about search and acquiring small businesses

I’ve read Buy then Build, and HBR’s Guide to buying a Small Business. Both are great books on the nuts and bolts of ETA, but Will Smith’s podcast is then best way to learn from the experiences of over 100 acquisition entrepreneurs.

Great content, binge worthy, and always easy to listen to at >1.5x speed!

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