263 episodes

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

Acquiring Minds Will Smith

    • Business
    • 4.9 • 169 Ratings

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

    Why Work IN the Business You Buy (Not Just On It)

    Why Work IN the Business You Buy (Not Just On It)

    Register here for the webinar, How to Buy a Business & Hire an Operator at Once
    https://bit.ly/3Rto4Mc--
    Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.
    https://bit.ly/45spnAI--
    Before acquiring a commercial painting business doing around $2m, Colin Gates worked on a crew as one of its painters.
    Topics in Colin's interview:
    Aggressively saving while working in private equityRecurring revenue is BSDon’t sweat getting the perfect purchase priceWorking as a painter for a month before buyingManaging prima donna employeesHis strategy of constantly bidding jobs and hiring Putting in a project manager and a GMWhy he stopped requiring depositsThe seller staying on as an employeeImportance of cash flow in keeping a business goingReferences and how to contact Colin:
    LinkedInTwitterMastercraft Coatingsmastercraftcoatingsfl@gmail.comSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessGet a complementary pre-acquisition HR & PEO review for your target business:
    Contact mark@aspenhr.com or visit Aspen HRLearn 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 Twitter

    • 1 hr 29 min
    3x Revenue Despite Turnover, Hangovers & Threats

    3x Revenue Despite Turnover, Hangovers & Threats

    Register here for the webinar, How to Buy a Business & Hire an Operator at Once
    https://bit.ly/3RuI018--
    Get Remediation Company CIM - Request the NDA to get the CIM of the Midwestern niche remediation company.
    https://bit.ly/4b6rnjA--
    JD Beck transformed a small (and small-town) plumbing business, took it into a larger market, and tripled it in a year.
    Topics in JD’s interview:
    Lessons learned from a failed dealBuying a tiny plumbing businessBringing operations into the 21st CenturyLearning from hiring mistakesExpanding through further acquisitionRaising prices and employee payMaking sacrifices to run the businessCompetitive landscape in home servicesHome services pricing modelsYour reputation determines the talent you attractReferences and how to contact JD:
    Ben Rizzo’s EpisodeNick Patrick’s episodeTwitterMountain Valley Plumbingjd@mtnvalleyplumbing.comLinkedInSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
    Matthias Smith of Pioneer Capital AdvisoryGet 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 Twitter

    • 1 hr 53 min
    1 Business vs. Many: Deciding to Roll Up

    1 Business vs. Many: Deciding to Roll Up

    Elliott Edge started as a searcher looking for a single business, then pivoted to a roll-up. He's 7 acquisitions in.
    Topics in Elliot’s interview:
    His philosophy on submitting LOI’sAcquiring a managed service provider amidst CovidHis wife’s role in the acquisitionValue of an MBA in acquiring a businessQuickly going remote when Covid hitBuilding trust with employeesHow soon and fast to make changesCreating more value through roll-upsIntegrating new acquisitions into the roll-upHis belief in continuous changeReferences and how to contact Elliot:
    Recording of the The Anatomy of an LOI webinar with Sam RosatiLinkedInVelonex TechnologiesSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
    Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:
    Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:
    See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

    • 1 hr 39 min
    2 Welders and a Shop... to $3.8m in Sales

    2 Welders and a Shop... to $3.8m in Sales

    Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)
    https://bit.ly/3VeWF1B
    Matt Pohl & his wife bought a small welding business with extreme key person risk. They 4x'd the business in 2 years.
    Topics in Matt’s interview:
    Starting, growing and selling his own businessAcquiring a welding business with his wifeLearning how to hire weldersThe difficulties of hiring through a staffing agencyTransient nature of weldersGrowing while maintaining marginsStress of running a businessComparing zero-to-one to acquisitionCashflow management in a project-based businessUsing ReWild’s methods to grow the businessReferences and how to contact Guest:
    mpohl@rewildgroup.comLinkedInThe Rewild GroupSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessLearn 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 Twitter

    • 1 hr 44 min
    Buying a Bankrupt 117-Year-Old Manufacturer

    Buying a Bankrupt 117-Year-Old Manufacturer

    Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)
    https://bit.ly/3yCQaOwDespite having no experience in manufacturing, Jens Grudno jumped when he heard about a failing straight-razor business.
    Topics in Jens’s interview:
    Buying a bankrupt razor manufacturerEmbracing risk in German business cultureCleaning out and moving a 116-year old businessAnother company poaching their clientsPitfalls to avoid when buying a businessDeveloping a new, innovative productOperating a company six hours from homeComparing start-ups to acquisitionValue of going where there's less competitionThe craft of manufacturingReferences and how to contact Jens:
    j.grudno@dovo.comLinkedInTwitterDOVO OnlineSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:
    Self-Funded Search ConferenceLearn more about Walker Deibel's done-with-you buy-side advisory:
    The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:
    Contact mark@aspenhr.com or visit Aspen HRConnect with Acquiring Minds:
    See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

    • 1 hr 57 min
    Rolling Up EBITDA and Rents with Auto Repair Shops

    Rolling Up EBITDA and Rents with Auto Repair Shops

    Register here for the webinar, The DO's & DON'Ts of the LOI (legal office hours)
    https://bit.ly/4538koZStephen Quindlen & Paul Westhart have found powerful multipliers that could yield huge returns in an unlikely industry.
    Topics in Stephen and Paul’s interview:
    Acquiring auto repair shopsRetaining talent by adding employee benefitsFleet vs. passenger car businessAlmost losing a foreman on day oneWhy they love the Mountain WestRecruiting California workers to IdahoInnovative real estate and business acquisition strategyOffering quality service and strong warrantiesExecuting the SBA 504’s Green Loan strategyLimitations of the SBA 7(a) loan for roll-upsReferences and how to contact Stephen and Paul:
    Stephen Quindlen - LinkedInPaul Westhart - LinkedInstephen.quindlen@bluewrench.compaul.westhart@bluewrench.comBlue WrenchSmithlist is a new job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:
    Smithlist - Operate & Lead a BusinessWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
    Matthias Smith of Pioneer Capital AdvisoryGet complimentary due diligence on your acquisition's insurance & benefits program:
    Oberle Risk Strategies - Search Fund TeamRegister for the Self-Funded Search Conference, September 13th - 15th in Dallas:
    Self-Funded Search ConferenceConnect with Acquiring Minds:
    See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter

    • 1 hr 56 min

Customer Reviews

4.9 out of 5
169 Ratings

169 Ratings

AlexSoDak ,

Absolutely love this podcast

The stories are great and Will is a terrific host

SoBe Nick ,

Great Guests - Host Asks the Right Questions

Will Smith asks the questions that we all want to ask but probably wouldn’t. Great guests too.

PandaPanda229 ,

Tremensous Value

This is probably my favorite podcast (and I listen to a lot). There is more value in one hour that Will provides to his listeners than any other podcast, webinar, lecture. Will has guests on that have gone through the challenges (including personal trepidation) of breaking out of the 9-5 slog and bought a business. He is an amazing interviewer, who asks great questions and lets the guest tell their story. I’m very grateful to have found this podcast and hoping he goes to TWO SHOWS a week!

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