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Acquiring Minds: Daily Summaries Delivered
by Will Smith
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.
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- Yesterday1h 2m
$33m Holdco: Teddy Bears to Insurance Claims
Colin King and his 50/50 partner have paid themselves little since 2018, reinvesting profits back into their businesses. Topics in Colin’s interview:Growing Circle City Capital’s business portfolioDon’t call them private equityWhy Colin stopped wanting operational rolesWhy critical mass matters for holdcosHe still earn less than operatorsHoldco strategy versus industry-specific rollupsThe fox versus hedgehog frameworkLearning through hands-on operating experienceWhy chasing money can make things harderCostly mistakes and failed acquisitionsReferences and how to contact Colin:colin@circlecitycapitalgroup.com LinkedInColin King’s first appearance on Acquiring Minds: How to Build a $28m Holdco (in 6 Years)Circle City Capital GroupGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition:Jenny Thear: jthear@engagepeo.comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 5 days ago1h 30m
The $150k Hiding in the Business He Bought
Patrick Dunphy acquired a low-seven-figure interpreter agency, then halved its collection times in year one.Topics in Patrick’s interview:From Army aviation to business ownershipWhy Patrick chose ownership over corporate successThree years searching while working full-timeTurning red flags into acquisition opportunitiesWhy intrinsic value matters beyond financial returnsBuilding a scalable, contractor-driven service businessStructuring an SBA acquisition without seller financingCutting payment times in half through better invoicingPreserving trust through a quiet ownership transitionGrowing through new markets and government contractsReferences and how to contact Patrick:LinkedInJS LanguagesWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition:Jenny Thear: jthear@engagepeo.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 1 weeks ago1h 28m
How to Buy a $2.1m Business Without the SBA
Jack Rauch left politics for a niche Florida business no bank would finance. He's doubled revenue twice since.Register for the webinar: Sizing an SBA Loan to the Cash Flow - TOMORROW!! - https://bit.ly/4hrFwgeTopics in Jack’s interview:From the White House to entrepreneurshipDiscovering an overlooked private provider nicheCustomers helped save the businessHow private inspections accelerate construction projectsExpanding beyond the seller's tiny territoryNavigating licensing requirements without industry experienceFinancing the deal without SBA backingRaising prices and finding unexpected growthDoubling revenue during each ownership yearJoining industry leadership to reduce regulatory riskReferences and how to contact Jack:LinkedInTew & TaylorThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 1 weeks ago1h 30m
Buying a $7.3m Golf Course with No Money Down
Kyle Holmes spent 8 years running Quail Ridge for its investor owners. Then they asked if he wanted to buy it.Register for the webinars:Protect the Business: How to Diligence Insurance Pre-Close - TODAY!! - https://bit.ly/4xvNj2ESizing an SBA Loan to the Cash Flow - Tue, Sep 29 - https://bit.ly/4y1Xr4aTopics in Kyle’s interview:Growing up in a golf family Running Quail Ridge before becoming an ownerBeing approached about buying the golf courseGolf’s boom, recession, and post-COVID resurgenceMichigan’s surprisingly strong golf marketRevenue from golf, dining, events, and driving rangeImproving Quail Ridge before buying the businessValuing land worth more than operationsNegotiating from $6.5 million to $7.3 millionFinancing with SBA, conventional, and seller debtReferences and how to contact Kyle:LinkedInQuail Ridge Golf ClubContact Jenny to learn how Engage can run people operations in your acquisition:Jenny Thear: jthear@engagepeo.comGet a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Connect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 2 weeks ago1h 30m
Buying a $12.5m Contractor to Create 1,000 Jobs
Manolo Diaz Corrada came home to Puerto Rico to build for decades and keep the wealth from leaving the island.Register for the webinars: Working Capital: What Buyers Need to Know Before Closing - TOMORROW!! - https://bit.ly/4yJUdSXProtect the Business: How to Diligence Insurance Pre-Close - Thu, Sep 24 - https://bit.ly/4rlZei3Topics in Manolo’s interview:Building a career across engineering, business, and lawFighting Puerto Rico’s brain drainLaunching a self-funded search in a tiny marketWhy traditional search fund investor passed on Puerto RicoFinding an acquisition through family connectionsNavigating SBA financing challenges in Puerto RicoUsing reputation as a due diligence toolBetting on Puerto Rico’s infrastructure boomUsing backlog to underwrite acquisition riskStructuring a deal with seller financingReferences and how to contact Manolo:LinkedInBonneville GroupGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 2 weeks ago1h 11m
Losing a $1m SDE Business to Bankruptcy
Morli Desai bought an e-commerce brand with an SBA loan. Three years later: liquidation, Chapter 11, and gratitude.Register for the webinars:Equity Financing: From SBA Deals to Independent Sponsors - TODAY!! - https://bit.ly/4r81edBWorking Capital: What Buyers Need to Know Before Closing - Tue, Sep 22 - https://bit.ly/4gZWFxhTopics in Morli’s interview:Acquiring a skincare brandWhy she felt confident in the companyEarly red flags she minimizedAmazon shipping disasterRising cost per click8-12% customer retention rateUnique challenges of ecommerceNegotiating multiple loan deferralsStress of the personal guaranteeFiling subchapter V bankruptcyReferences and how to contact Morli:LinkedInMorli’s first Acquiring Minds episode: How to Buy a $4m E-com Business with an SBA LoanGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition:Jenny Thear: jthear@engagepeo.comGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 3 weeks ago1h 31m
$340k to $1.3m of Earnings in 14 Months
Rob Brooks bought a $1.9m Sarasota HVAC shop, then ignored the advice to wait 90 days before changing it.Register for the webinar: Equity Financing: From SBA Deals to Independent Sponsors - Thu, Sep 17 - https://bit.ly/3VqwuZuTopics in Rob’s interview:Choosing an industry where he had an edgeBuying smaller to reduce debt riskUnderstanding prepaid customer obligationsUsing ChatGPT to learn HVACMaking changes immediately after acquisitionInheriting a GM and long-tenured employeesDigitizing operations and increasing accountabilityTransforming a blame culture into a problem-solving cultureAdding weekly employee training sessionsPracticing radical honesty with customersReferences and how to contact Rob:LinkedInGary AirGrant HenselJack Carr on Acquiring Minds: Back from the Brink When Everybody Quits Day 1Get a free review of your books & financial ops from System Six (a $500 value):Book a call with Tim or hello@systemsix.com and mention Acquiring MindsThe ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business:The Acquisition LabWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
- 3 weeks ago1h 7m
Buy a Business with Your Tax Bill
Adam Whelchel paid himself instead of the IRS, putting $35k down on an escape room doing $365k with room to grow.Register for the webinar: The Deal I Almost Bought (And Why I Passed) - TODAY!! - https://bit.ly/4hVeKikTopics in Adam’s interview:Built a $1.5M accounting firmBusiness brokerage opened the acquisition doorWanted a business his daughter could appreciateAn escape room caught his attentionFixed costs created massive operating leverageBought the business for roughly $220KPut about $35K into the dealBusiness acquisition as a tax strategyRe-engaged customers and local businessesPlans to double capacity to 20%References and how to contact Adam:LinkedInAxis Accounting & TaxJeff Homer on Acquiring Minds: 1 Music School to $100m in RevenueAdam’s slides Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit for acquisition diligence or post-close transition.Visit inzotechnologies.com/eta.Contact Jenny to learn how Engage can run people operations in your acquisition:Jenny Thear: jthear@engagepeo.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron
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About Acquiring Minds
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.
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