Acquiring Minds

Robert Gayden worked for over a year to buy a home care business. Revenue kept growing but the price remained the same.Register for the webinar: What Killed Deals in 2025 - TOMORROW!! - https://bit.ly/44r1pH5Topics in Robert’s interview:Influence of his late fatherThe “go bigger” search philosophyAppeal of the home health care industry17-month acquisition processChoosing to operate “in the weeds” of the businessLeading with high expectationsFocusing on increasing salesAchieving 15% growth in 8 monthsWorking capital dynamics in home careInvesting in employeesReferences and how to contact Robert:LinkedInAizik Zimerman on Acquiring Minds: Founder Mode for ETA $6m to $25m in 3 YearsMorgan McCauley on Acquiring Minds: How to Buy a $2.5m Home Care BusinessDevin Fitzgerald on Acquiring Minds: Buying $5m of Revenue with $50k of EquityRobert Graham & Aaron Blick on Acquiring Minds: How to Build a Roll-Up to $60m RevenueJérôme Bouillon on Acquiring Minds: How to Buy & Double a Home Care AgencyGet 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 MindsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.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 RohozovProduced by Pam Cameron

Scott Duncan endured brutal ups & downs — and personal depression — during his ownership of a doomed tool & die businessRegister for the webinar: How to Model an Investor-Backed Search Acquisition - TODAY! - https://bit.ly/3XysjZBTopics in Scott’s interview:Wishing he had listened to his gutThe risk of EBITDA (vs. revenue) concentrationManaging highly skilled primadonnas Employee theftLosing key employeesLong sales cycles and fixed quotesForced Covid shutdownRazor and blade business modelFacing aggressive creditorsFiling Chapter 7References and how to contact Scott:LinkedInLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet complimentary due diligence on your acquisition's insurance & benefits program:Oberle Risk Strategies - Search Fund TeamDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Andy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exitRegister for the webinars: How to Invest In SMBs (Without Buying One Yourself) - TOMORROW!! - https://bit.ly/4rBI4NbHow to Model an Investor-Backed Search Acquisition - Dec 11th - https://bit.ly/4owBkNWTopics in Andy’s interview:His experience as an Army intelligence officerWhen in doubt, do the dirtiest jobThe military concept of “left seat, right seat” trainingSearching from the public libraryVeterans are well-suited to blue-collar leadershipRewards of leading young menGaining warm leads in new marketsHis team’s competitive edgeExiting his business to run for mayor of DenverInvesting in self-funded searchersReferences and how to contact Andy:LinkedInSearch Fund Secondaries GroupAndy’s webinar: Liquidity Options for Search InvestorsWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherGet 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 RohozovProduced by Pam Cameron

Steve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected.Register for the webinars: How to Run the SBA Deal Race - TODAY!! - https://bit.ly/3Xh3WQbHow to Invest In SMBs (Without Buying One Yourself) - Dec 9th - https://bit.ly/44Gylv1Topics in Steve’s interview:Experience working for WalMart corporateSearching while working full timeMyth of passive incomeLarge dead deal costs from a failed acquisitionPartnering with his childhood friendUnderestimating working capital needs100-hour weeks away from his familyRapidly scaling through M&ABeware owners who leave quicklyAchieving $1 billion in revenue in 5 yearsReferences and how to contact Steve:LinkedInKelso IndustriesDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.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 MindsLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

Jake Bittner bought an unprofitable carve-out doing $3m. A key pivot grew revenue to $20m and got the attention of PE.Register for the webinar: How to Run the SBA Deal Race - Dec 4th - https://bit.ly/44whqv6Topics in Jake’s interview:Building a nest egg before leaving his jobFallout from his father’s failed businessesCalculating the value of a business losing moneyDisliking the bureaucracy of large companiesJoining his friend to run a distressed companyEmployee war storiesChanging the service they offeredAchieving 60% margins Boosting customer retentionSelling the company for 11x earningsReferences and how to contact Jake:LinkedInMission Support PartnersGet 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 AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Dave Gilbert spent 2 years fixing the model and customer concentration of the $750k SDE family business he bought with SBA debt.Topics in Dave’s interview:Leaving tech to buy a white collar businessMeeting with 120 owners while searchingBuying a business he initially passed onRisks of family members as employeesFinancial surprises after the transitionLosing 23% of revenue when clients leftAccountants do not like changeRecruiting top talentImportance of listening to employeesTransferring his zero-to-one skillsReferences and how to contact Dave:ProvenLinkedInGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 RohozovProduced by Pam Cameron

Taylor Mattingly found high-quality revenue in an unusual and sizable B2C business that he happened to be a customer of.Topics in Taylor’s interview:Being Co-CEO with his best friendBuying a business he was a customer ofAcquiring a business in his hometownConfusing, deregulated Texas energy marketHow Energy Ogre differs from a typical brokerKeeping his call center in Texas“Set it and forget it” model“Listening tour” in the first 100 daysAdopting the EOS modelHigher leverage deal structureReferences and how to contact Taylor:LinkedInEnergy OgreGet 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 MindsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comWork 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 RohozovProduced by Pam Cameron

From the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually.Register for the webinar: What a Good Investor Pitch Looks Like -TODAY!! - https://bit.ly/3LYM4H2Topics in Linh’s interview:The "Three Rs" search criteriaBeing an undercover owner for 18 monthsEliminating 70-hour workweeks for his techsStruggling with work-life balanceImplementing value-based pricing80% rule for delegationWhy he doesn’t want to exitFostering deep employee loyaltyCorporate philanthropy and legacyWhat money can’t buyReferences and how to contact Linh:info@apexfundgroup.comLinkedInApex Fund GroupLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

Greg Geronemus bought a highly-profitable travel business at favorable terms, helping to ensure a great return on exit.Register for the webinar: What a Good Investor Pitch Looks Like - Nov 20th - https://bit.ly/47YbVXjTopics in Greg’s interview:Challenges of searching in New YorkCobbling together a search fund in earlier days of searchStrategy of cold email outreachAcquiring at age 26Partnering with a friendSignificant challenges of running a tour operatorDigital marketing did not move the needleDirect mail was the silver bulletPartnering with universities and religious groupsExiting after 4 yearsReferences and how to contact Greg:LinkedInFootbridge PartnersKatherine & Rahul on Acquiring Minds: Why Choose Ownership Over Being a CEOWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Gail Azodo discovered a method of buying audiology practices with 100% financing. She's moving quickly to buy and build.Register for the webinar:Financing Your Deal: SBA vs. Non-SBA - TODAY - https://bit.ly/4p4J2Q7Topics in Gail’s interview:Managing brands at Proctor and GambleHer vision to run her own companyLife changing power of hearing aidsSwitching her search from Vision to AudiologyConsequences of untreated hearing lossFinancing through hearing aid manufacturersCross-licensing her providers in multiple statesAddressing the Audiologist shortageIntentionally acquiring where she does not live Find what “brings the flies to the honey”References and how to contact Gail:LinkedInReal Hearing USABruce Vann on Acquiring Minds: How to Grow a Manufacturing BusinessDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.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 of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

After chafing under the constraints of being a CEO, Katherine Butler-Dines & Rahul Desai bought a business of their own.Register for the webinar:Financing Your Deal: SBA vs. Non-SBA - Nov 13th - https://bit.ly/47OQpUATopics in Katherine and Rahul’s interview:Katherine’s early CEO experienceBoard conflicts pushed her toward majority ownershipAcquiring without a traditional bank loanConvincing the seller to do a seller notePaying the seller note with float from advance bookingsRahul built custom software to increase marginsSearching nights and weekends while at their W-2sAffordability of living in the midwestVision of acquiring and integrating more travel businessesLearning to delegate and enjoying free timeReferences and how to contact Katherine and Rahul:Katherine’s LinkedInRahul’s LinkedInAffinity Travel Co.Shell Zhang on Acquiring Minds: Buying a Not Boring Business with $600k SDEJared Benoff on Acquiring Minds: Why Buy a Travel Agency (Because They Can Crush It)Get 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 AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

Clayton Collins acquired HousingWire with a big vision for the small media business. 9 years later, it has come to life.Register for the webinar:Overcoming Risks from a Lender’s Perspective -  TODAY! - https://bit.ly/3WxDKAsTopics in Clayton’s interview:Hire for your skill gapsFlying around the country to meet investorsAsking for warm introductionsSelling investors on his strategic visionWhat to look for in a media companyDirect relationships with advertisers vs. programmatic adsRebuilding the sales team over and overRiding the wave of the mortgage industryMaintaining the magic of annual eventsSelling print ads differs from selling digital adsReferences and how to contact Clayton:LinkedInHousingWireNathan Gregory on Acquiring Minds: Business-Buyer Fit in a 42-Year-Old Media BizGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 RohozovProduced by Pam Cameron

Both buyer Jared Lenner and seller Dave Serwitz share their perspectives on the acquisition of a 20-year-old business.Register for the webinars: Investor-Backed Search and SBA: Buy Bigger, Keep Control - TOMORROW! - https://bit.ly/4qABMgnOvercoming Risks from a Lender’s Perspective - Thu Nov 6th - https://bit.ly/4qDoJdVTopics in Jared & Dave’s interview:Jared buying Dave’s tutoring businessDave’s motivation to sellChoosing to work with Search Fund AcceleratorTheir agreement to “assume positive intent”Why Dave didn’t sell to private equityHow the in-person business survived CovidBookkeeper quit right after transition“Other people’s money is scarier than a PG”Competing with AI in the futureHow it feels to sell your companyReferences and how to contact Jared & Dave:Dave Serwitz LinkedInJared Lenner LinkedInGrade Potential TutoringMarc Anderegg on Acquiring Minds: So Much Fun: The Buyer of Choice in a Fragmented IndustryGet 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 MindsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comWork 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 RohozovProduced by Pam Cameron

Shaun Stimpson had worked for two decades before pivoting to buying businesses in a different industry. He's moved fast.Register for the webinar: Tax Issues: Entity and Deal Structuring - TODAY! - http://bit.ly/47CVZuiTopics in Shaun’s interview:Staying in corporate was the riskier choiceCalling 1200 businesses during his searchGoing back to school to learn more about acquisitionAcquiring with his partner, Robert WolfRaising $6m from outside investorsLeaning on his professional networkChoosing his investors carefullyAcquiring in his mid-40’sLong-term hold strategyAcquiring 3 businesses in successionReferences and how to contact Shaun:LinkedInMitten FluidpowerFLN-MARFrank Murken ProductsWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Ania Aliev was so eager to buy her business, she worked the deal while in labor at the hospital. It's been worth it.Register for the webinar: Tax Issues: Entity and Deal Structuring - Thu Oct 30 - http://bit.ly/43tlhIPTopics in Ania’s interview:Rushing to get a deal closed before giving birthUsing her people skills to connect with sellersSearching only in the Eastern USBuying an AED sales and service companyMyths about AEDsFiguring out the best pricing modelLack of competition in the industryDealing with “Mom brain”Willingness to say “I don’t know”Stickiness of customersReferences and how to contact Ania:LinkedinLife Support SystemsLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

Despite skepticism from her US investors, Ivona Butcher bought (and tripled) a business in her native Czech Republic.Topics in Ivona’s interview:Doing business in a post-Soviet cultureDetermination to acquire in the Czech RepublicBuying a business as a married coupleGetting into exhibition services right before CovidLosing all revenue at onset of CovidPivoting to virtual eventsFinding work for their carpenters and metalsmithsAggressively re-negotiating their loan with the bankBuying back the seller note at a huge discountSurviving Covid and doubling EBITDAReferences and how to contact Ivona:Ivona ButcherCorbin ButcherBeireAdam Rao on Acquiring Minds: Reviving a Covid-Crushed Business: $0 to $6M in 3 YearsGet 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 MindsGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherConnect with Acquiring Minds:See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton RohozovProduced by Pam Cameron

Ruchik Gandhi was a diligence CPA when he decided to get in the game himself. Becoming an owner has been an education.Topics in Ruchik’s interview:India > Australia > US immigrationDiscovery of the wonders of multiple arbitrageReceiving the deal from another searcherPaying a $20k finder’s feeBuying a fabrics and upholstery workroomLearning how to manage a blue-collar workforceMishandling employee relationshipsTaking feedback from his managersEarning the employees’ trustHis plan for growth in a fragmented industryReferences and how to contact Ruchik:LinkedInWindow 25Download the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.comWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

Undeterred by self doubt, Danyelle Nys bought a $400k SDE business at a fantastic price. She's grown it 25% in year one.Topics in Danyelle’s interview:Working in her family’s asphalt businessLearning about ETA from a masterclassHiring a coach for the search processBuying a business for the price of inventory + working capitalThe seller was running it remotelyRaising prices and salaries after acquisitionDealing with an obstinate commercial landlordMoving 14,000 sq ft of inventory to a new warehouseHiring her mom as the bookkeeper“F*** your mood. Follow the plan.”References and how to contact Danyelle:LinkedInDecorus Home StagingKyle Boyden & Jake Furfaro on Acquiring Minds: Stacking Small Acquisitions to $5m in RevenueGet a complimentary IT audit of your target business:Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory: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 RohozovProduced by Pam Cameron

When his deal died the first time, Kyle Poll was devastated. But then it came back around, larger and more interesting.Topics in Kyle’s interview:Skills he learned on his 2-year Mormon missionGrowing Gympass from $10m to $100mAiming for happiness at work and homeEarning the respect of brokersWatching his deals die and being outbidQ of E that drastically lowered the business valueEmotional rollercoaster of full-time searchCompleting his acquisition as CEO with equityFinding investors who would bet on growthMerging 2 rival companiesReferences and how to contact Kyle:LinkedInGetOutPassThe Mormon Way of Doing Business by Jeff BenedictGet 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 MindsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact mark@aspenhr.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 RohozovProduced by Pam Cameron

Brian Seeling sought a blue-collar business with a good manager in place. He found exactly that — with $2.6m in revenue.Register for the webinar: Tactical EQ to Win Over Sellers and Brokers - TODAY! - https://bit.ly/46MlUhCTopics in Brian’s interview:Being an entrepreneurial kidMoving from IT to blue-collarGetting value from SMBootcamp“Riches are in the niches”Satisfaction of developing peopleNot all SBA lending is the same“Billionaires do business with billionaires”Tactfully bringing about changeContinuing the commission-based compensation modelReplacing old tech in the businessReferences and how to contact Brian:LinkedInPGM ServiceWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:Pioneer Capital AdvisoryGet 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 RohozovProduced by Pam Cameron