Acquiring Minds

There are many lenders out there eager to finance your acquisition. SBA loan expert Lisa Forrest explains how to choose. Themes from Lisa's interview: Working with lenders to secure an SBA loan Choosing the right lender for you How to prepare for your SBA loan conversation Getting an SBA loan for SaaS and eCommerce businesses How business owners can plan ahead for a cash crunch Why now is a great...

Shannon Jones explains how acquisition entrepreneurs should navigate the realities of buying a blue collar business. Themes from Shannon's interview: Killing relations with a blue collar seller by being too "quant" Importance of vulnerability when negotiating How to know if a blue collar business is in an industry that’s right for you Managing blue collar employees and common pitfalls Transitionin...

Due diligence expert Elliott Holland shares the top things he wishes he’d known when he first started buying businesses. Themes from Elliott's interview: Started the due diligence firm he wished he’d had himself For LOIs, don’t let perfect be the enemy of the good Early information on an acquisition is +/- 40% correct (and that might be OK) The information you get post-LOI is what matters Don’t be...

Nick Haschka shares what's changed in the market since acquiring his first small business in 2016. (Hint: it’s harder.) Themes from Nick's interview: The rise and fall of the “silver tsunami” Private equity’s pivot from hands-off to getting dirty MBAs jump into the acquisition arena The labors of labor shortages Why B2C is beating B2B  Saying yes to no-code Reach Nick at: LinkedIn Cub Investments...

Less than a year after acquiring a $1m medical billing business, Curt Neider is already looking for his second deal. Themes from Curt's interview: Buying a medical billing company doing ~$1 million/year The appeal of medical billing businesses Becoming a certified professional biller to understand the business How Curt immediately improved operations Separate line of credit for working capital (no...

Key lessons for acquisition entrepreneurs from Andrew Finn, who has grown a service business & acquired SaaS businesses. Themes from Andrew's interview: Opportunity in sub $1m EBITDA businesses SaaS vs. services business Grooming an operator to extract yourself from the business What makes a good SaaS acquisition Your acquisition journey — just start Jumping from labor to capital Capital Camp...

Don't have the 10-20% cash to buy a business with SBA? Search investor Steve Ressler explains how to attract investors & structure the deal. Themes from Steve's interview: The 4 flavors of search Choosing the right investors SBA loan math Raising the 10% Buying a business in an industry you don't know Setting investor expectations Common mistakes to avoid Reach Steve at: sressler @ gmail @stev...

Sales had dropped to zero when Martin Bispels acquired Upper Park Disc Golf. A year later, they are nearing $2 million. Themes from Martin's interview: Buying a business on Flippa What Martin asks himself every day to be a good CEO Criteria used to identify a business to buy Hiring the seller of the business True cost of buying a business Making a detailed plan before acquiring the business Buildi...

Hard-won lessons about buying micro SaaS businesses from Andrew Pierno, who has acquired 3 and plans to buy many more. Themes from Andrew's interview: Breakdown of the XO Capital portfolio How to source micro SaaS acquisitions Micro SaaS due diligence Paying for operators The appealing product roadmap of tiny software vs. large Bottlenecks of the tiny model Whether moving upmarket make sense Wins...

Pete Seligman stepped off a comfortable corporate path to buy a small business in 2013. He's since acquired 4 more. Themes from Pete's interview: Why Pete exited the corporate track to acquire a company How risky is acquiring a business? Role of passion when deciding which business to buy Role of industry experience when deciding which business to buy How long it takes to succeed in acquisition en...

After years of struggling to launch products from scratch, Casey Allen pivoted to buy a $1.7m coffee supplies business. Themes from Casey's interview: Struggling for years to launch products from scratch The benefits of acquiring a company instead Buying an e-commerce business as COVID sales take off Buying a 24-year-old content site with 12 million annual visitors Content vs. e-commerce Advice fo...

Due diligence pro Ahmed Raza on the 3 key things to evaluate when buying a business in e-commerce, SaaS, or content. Themes from Ahmed's interview:  3 things to evaluate in an e-commerce business you might buy  3 things to evaluate in a SaaS business you might buy  3 things to evaluate in a content/affiliate business you might buy  Reach Ahmed at: LinkedIn His firm, Rapid Diligence Official episod...

Charles Barr just acquired DiMartino Plumbing. He considered HVAC & electrical as well but plumbing was the sweet spot. Themes from Charles’ interview: Buying a small business as a path to wealth Why plumbing? Why he decided against HVAC & electrical Numbers on the business & his deal Why he’s getting his plumbing license Reach Charles at:  LinkedIn His acquisition, DiMartino Plumbing...

Vivian Chen bought an abandoned online business for almost nothing, then grew it to $5k/mo — while keeping her day job. Themes from Vivian’s episode: Years of false starts before deciding to acquire Advice to side hustlers Parallels between buying an online business & real estate investing When to go full time Knowing yourself is key to your journey as an acquisition entrepreneur It takes long...

Chris Edwards' first 6 months as new owner has been a “bloody knife fight.” But things are looking up, with the business projected to profit $750k this year. Themes from Chris’s interview:  Chris’s advice for new owners (be a shock absorber)  What made Chris a competitive buyer  Solo buyer vs. having a partner  How to implement changes as a new owner (hint: slowly)  High stress, high stress, high...

Brute Force thrived during COVID, but 2021 hit hard. Sales plunged 60% in one month. Mike Brown bought it to fix it. Themes from Mike’s interview:  Why Mike was "acquisition curious" and what made him pull the trigger Betting on yourself  Unsexy local businesses vs. e-commerce  How the iOS privacy updates are affecting e-commerce  How Mike handled sales collapsing 60% from May to June  Adversity m...

Cassi Niekamp didn't know anything about fencing when she acquired Bowden Fence. But she turned this to her advantage. Themes from Cassi’s interview:  Bringing a student’s mind to your acquisition  Using vulnerability to earn trust  Doubling production in 60 days  Building rapport with the seller  Buying the first business you see  Reach Cassi at:  LinkedIn Her company, Bowden Fence Official episo...

Mike Gardon bought websites to be his own boss. His best acquisition does $100k/mo — and he bought it for 5 figures. Themes from Mike’s interview: Why buying a website is better than building from scratch SEO & affiliate websites Opportunity for smaller buyers of affiliate sites Thinking about your websites like a financial portfolio The importance of a foundation business Reach Mike at:  Link...

5 tactics to boost sales of acquired e-commerce businesses — and other insights from e-commerce aggregator TCM Digital. Key themes from Golan's interview: There is still plenty of room for solopreneurs to made good e-commerce acquisitions. Prices of e-commerce businesses have gone up, but still good value there. 5 tactics TCM uses to quickly boost sales of the e-commerce businesses they acquire. T...

How an outsider started with little money and bought 12 translation agencies in 6 years, aiming to reach €5m in revenue. Key themes from Cédric's interview: Acquired a translation agency in 2015 that was doing about €1.5m annually. He had little of his own money at that time and took a large loan to make the acquisition happen. 6 years later, he's acquired 11 more agencies and is aiming to reach €...

With 6 e-commerce acquisitions and counting, Kelcey Lehrich has built 365 Holdings rapidly over the last 4 years. Key themes from Kelcey's interview: E-commerce as a path for acquisition entrepreneurs Other businesses Kelcey likes for acquisition entrepreneurs Business-buyer fit Personal guarantees Reach Kelcey Lehrich at: @kelceylehrich LinkedIn His e-commerce holding company, 365 Holdings The 36...

An early buyer on MicroAcquire, Spencer Scott acquired a SaaS for $280k. He analyzed the deal like a rental property. Key points from Spencer's story: He wasn't looking seriously for an acquisition but saw an opportunity and grabbed it: Median. The tech is what impressed him most. He couldn't believe the product was a small indy SaaS built by a couple developers. Median was selling for about 4x re...

Dan Spracklin acquired a septic pumping business doing $1M annually, then grew it to $3M and margins to 30% in 2 years. Key points from Dan's story: Gray Brothers was a septic pumping business founded in 1929, run by Dan Spracklin's father-in-law. It was generating about $1m per year in revenues from 22,000 customers. Septic pumping companies typically have margins of 10-15%. Dan & his wife ad...

Two brothers took over a 110-year-old business in a stagnating industry. 7 acquisitions later, the future is bright. Key points from Ben's story: Ben Grossman & his brother pivoted their 110-year-old family business from printing to promotional products. The strategy was executed by acquisition: 7 of them from 2013 through 2021. Ben discusses the importance of treating sellers well to build a...

How an online entrepreneur teamed with a family office to acquire & grow a portfolio of 15 websites for over $2 million. Key points from Paul's story: Paul Lemley teamed with a family office to source, acquire, and grow a portfolio of websites. They ultimately acquired 15 sites across 3 acquisitions, spending between $2 and $3 million in total. Paul highlights 5 lessons from this recent foray...