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Acquiring Minds
Acquiring Minds
Author: Will Smith
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© 2021 - 2023, Acquiring Minds
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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
Also on YouTube:
https://www.youtube.com/@AcquiringMinds
Sign up for episode summaries at:
https://acquiringminds.co
444 Episodes
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After 25 years on The Street, Brian Anderson discovered passion in buying small businesses — despite brutal challenges.Register for the webinar:How to Handle Common Employee Issues When Buying a Business - TODAY!! - https://bit.ly/4sa946lTopics in Brian’s interview:Career in investment banking/hedge fundsClosure of his firmPursuing small business as an asset classLow multiples are fairly valuedAcquiring in manufacturingLearning every operational function himselfAcquiring with no debtBeing away from his family M-FHis big mistake during CovidSelling to his COOReferences and how to contact Brian:LinkedInHis essay on the experience: Deco Manufacturing Summary and LessonsDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@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
Naveen Vinta spends weekdays at the business he bought in Milkwaukee, away from home in Virginia. He's making it work.Register for the webinars: Add-Backs to Cash Flow for SBA Loans - Tue March 17th - https://bit.ly/4luTdgdHow to Handle Common Employee Issues When Buying a Business - Thurs March 19th - https://bit.ly/4dnIwtDTopics in Naveen’s interview:Army experience as a tank mechanicFunding his MBA with his G.I. BillCapitalizing on “onshoring” tailwindsGetting brokers to take him seriouslySearching for a business one plane hop awayAcquiring an aerial work platform businessModifying lifts to make them “explosion proof”9-12 month sales cycleImproving employee moraleBeing away from his family during the weekReferences and how to contact Naveen:LinkedInBailey CranesGet 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
After building a masonry business over 5+ years, Justin Escajeda bought his first company in 2018 and never looked back.Register for the webinars: From Owner to Owner: Business Transition Lessons - TODAY - https://bit.ly/46K82p5Topics in Justin’s interview:His early career as a stone masonGrowing his side jobs into a companyLiquidating his real estate investmentsFocusing on masonry nichesAcquiring his first business for a 1.3 multipleRecruiting managers based on work ethicHis flat compensation and guaranteed bonus structureHow he prevents fraud and mismanagementKeeping company names the same after buyingThe personal cost of overseeing 11 companiesReferences and how to contact Justin:LinkedInEscajeda HoldingsGet 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
After Megan McGee pivoted her search fund to a self-funded approach, she bought a business where she wanted to settle.Register for the webinars: From Owner to Owner: Business Transition Lessons - Thu March 12 - https://bit.ly/4ctCJCwTopics in Megan’s interview:Family background in pest controlInternship with previous guest Edward McDonnellStarting out in traditional searchInvestors declined to support a deal she lovedPivoting to self-funded searchDeciding not to buy her dad’s businessBuying Virginia Guesthouses without an SBA loanBuying from a young sellerManaging 75 propertiesHer profitable first yearReferences and how to contact Megan:LinkedInTato Corcoran’s recap episode: How to 4x a Small ManufacturerEdward McDonnell on Acquiring Minds: Taking a Single-City Acquisition NationwideMatt Orley on Acquiring Minds: Buying for Brand (Then Growing 4x)GuesthousesGet 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 jenny@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
Jonathan Taylor has quickly grown revenue 40% at his acquisition through digitization, process improvement, and sales.Topics in Jonathan’s interview:Searching while working full-timeHis “now or never” moment approaching 40Restricting his search to Los AngelesOver-equitizing the dealStructuring a forgivable seller noteAccepting 60% ownershipFinding long-term hold investorsBuying from a non-retiring sellerChristian stewardship principlesGrowing revenue 40%References and how to contact Jonathan:LinkedInAEK TechnologyPhil Koller on Acquiring Minds: Comfortable Concentration for a $800k SDE BusinessShaun Stimpson on Acquiring Minds: Started Mid-Career, Grew to $38m in 3 YearsLearn 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
After his first ownership experience ended badly, Joe Springsteen bought a $3.2m maintenance business that is thriving.Topics in Joe’s interview:Background in law and operationsDivorce as a catalyst for changeAcquiring a biohazard cleanup businessDoing cleanup himselfHis original growth thesis failedSelling the cleanup businessHis “Codie Sanchez phase”Prioritizing geography in his searchAcquiring an exterior cleaning businessBuilding competitive advantageReferences and how to contact Joe:LinkedInjoe@mallardsystems.comMallard SystemsSam Rosati on Acquiring Minds: Shortening Your Search: Big 3 Little 2Work 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 jenny@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
Edward McDonnell bought a local services business via traditional search fund and grew it to 8 branches across 5 states.Register for the webinar: SMB Cybersecurity: Why Operators Need a Risk Assessment - TODAY!! - https://bit.ly/4u2GO7dTopics in Edward’s interview:Mechanical engineering at HondaChoosing traditional search for budgetAcquiring an indoor plant/landscaping businessGoing in with no management experienceDigitizing the back officeConstantly repeating the company visionUsing EOS for efficient meetingsGrowing to 8 branches in 5 statesExiting and staying on as CEOSearching for his next business in VirginiaReferences and how to contact Edward:LinkedInBotanical Designsam@monroehillgp.comGet 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
Scott Crosby weathered the challenges that come with buying a 4.5-employee services business, and Year 2 is looking up.Register for the webinars: Common Legal Diligence Issues (and How to Handle Them) - TOMORROW!! - https://bit.ly/3OQhm4lSMB Cybersecurity: Why Operators Need a Risk Assessment - Thu, Feb 26 - https://bit.ly/4bY1KWeTopics in Scott’s interview:His 2 major career-defining moments20-hour days in film productionRisks of buying from younger ownersEconomic development resource centers: a hidden gemLooking for business-buyer fitUsing an analysis tool he found on TikTokFirst-time buyer mistakesReplacing nearly the entire staffUnderestimating the stress of ownershipModernizing dusty operationsReferences and how to contact Scott:LinkedInscottallencrosby@gmail.comAmerican Services St. LouisScott’s interview prep sheetBuy the deal analyzer spreadsheetDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@aspenhr.comGet 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 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
Tato Corcoran returns with updates on her ownership of a sink maker that had just $400k in revenue when she bought it.Register for the webinar: Red Flags That Kill or Reshape Deals - TODAY!! - https://bit.ly/4rsjvlaTopics in Tato’s interview:Growing her top line revenueFinding a mentor at StarbucksCreating an employee handbookReconfiguring the factory with new equipmentHow she implements extreme ownershipProfit First accountingBeing tied to the real estate marketGoals for her real estate portfolioBeing a woman in manufacturingWhen she may be open to sellingReferences and how to contact Tato:LinkedInBrandt Molded MarbleTato's first interview: When You Buy a Glorified Job, Not a BusinessExtreme Ownership by Jocko Willink and Leif BabinProfit First by Mike MichalowiczGet 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
Don Grigg reflects on the different outcomes for 2 businesses he bought in his 30s, one of which became his life's work.Register for the webinar: Red Flags That Kill or Reshape Deals - Feb 19th - https://bit.ly/468vw6WTopics in Don’s interview:Discovering his passion for manufacturingSearching for “small, broken companies” to acquireClosing on 2 businesses within 6 monthsHow plastics recycling worksScaling his plastics recycling businessPrivate equity is a poor fit for small business Exiting his business felt like losing familyHis son and daughter’s acquisitionValue of family businessesEntrepreneurship through acquisition as your life’s workReferences and how to contact Don:LinkedInNative WatercraftBonafide Kayaks Enough by John C. BogleGet 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 jenny@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
In addition to buying his own business, Evan DiLeonardi trades buy-side services for equity in other SMB acquisitions.Topics in Evan’s interview:Entering the Airbnb spaceJoining Ben Kelly’s acquisition groupBuying a commercial cleaning businessBeing a remote “workaholic”Realizing he bought a business in distressFirst year in survival modeGetting a team of great managers in placeHis “Equity in Kind” partner modelEnjoying search more than operationsBuilding a holding companyReferences and how to contact Evan:LinkedInQuality Cleaning ServiceGail Hamilton Azodo on Acquiring Minds: Buying to $4m Across 7 Sites in 3 YearsMeridian Peak CapitalWork 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
He started by buying a small flooring business in 2000. Today Paul Lajoie takes home $1m a year and works how he wants.Register for the webinar:Why Deal Flow Isn’t Your Biggest Problem - TOMORROW! - https://bit.ly/4ah8L1ETopics in Paul’s interview:Background in Big Six accountingBuying the first business he looked atPartnering with his brotherDownsizing his lifestyle in the beginningUnderestimating working capital needsDetailed partnership agreementsYou are not smarter than the sellerPivoting to remodeling after 2008 crashAcquisition vs startup success ratesHis BizBuyPro communityReferences and how to contact Paul:LinkedInpaul@bizbuypro.comKiplinger Today NewsletterConfessions of a MillionaireGobundanceLearn 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 jenny@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
Andrew Kurzrok connected with his seller over his manufacturing background, leading to a successful deal and transition.Topics in Andrew’s interview:Background in science and national labsSpending all his time traveling for workWanting to stop traveling when his son was bornStudying management at YaleGaining management experience before searchingMaking a “no” listSuccess with cold calling business ownersPutting down 25% equityRegional moat of sheet metalHis “crawl, walk, run” approach to operationsReferences and how to contact Andrew:LinkedInHopewell Sheet Metal ManufacturingHeather Endresen’s working capital webinar: Working Capital for SMB AcquisitionsGet 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
Sensing untapped potential, Ville-Matias Vilén bought a sub-million manufacturer with good IP and global distribution.Topics in Ville’s interview:Desire to “eat what he kills”1990’s Finnish RecessionAversion to solving people problemsAcquiring a cattle brush manufacturerFunding his deal in FinlandPatents as a moatRelocating the manufacturing 5 hours awaySharing ownership with his family’s companyGoal to grow 5x in 5 yearsLong-term holdco visionReferences and how to contact Ville:LinkedInFinnEasyDownload the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@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
Despite success in corporate, Jarom Wren wanted more freedom, so he traded 5 figures of salary for 7 figures of revenue.Topics in Jarom’s interview:Realizing he was renting himself to a corporationMid-career risk assessmentSearching for a digital businessChoosing the lowest cost Q of E“Deals want to die”Risks of a 4-year old e-com businessOffering education as well as DIY productsDeciding against using ROBSBuying 70% of the companyHis first year report cardReferences and how to contact Jarom:LinkedInVanlife OutfittersHarley Sitner on Acquiring Minds: Building a Beloved Brand from a Tiny, Dying BusinessGet 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 jenny@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 Twitter
Family planning and entrepreneurship converged as Linh & Leo Van Deibel bought their first (and not last) business.Topics in Linh & Leo’s interview:Making the case for business acquisitionTaking family planning into accountSearching in the UK as a non-citizenBeing taken seriously as an Asian womanTheir goal of building a holdcoThousands of meetings with sellersSearch is a numbers gameBrutal IVF processGiving up on acquiring SaaSBuying an engineering consulting firmReferences and how to contact Linh & Leo:Linh Van Deibel LinkedInLeo Deibel LinkedInTheir acquisition, Infrastructure Design SolutionsLinh Tran on Acquiring Minds: The Dream Outcome: From $300k to $5m EBITDAGet 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
Jacob VosWinkel searched in tertiary markets to find a successful flooring store, his platform to build something big.Register for the webinar:What You’re Really Paying: Net Working Capital & Net Debt Explained - TODAY!! - https://bit.ly/49WI4AoTopics in Jacob’s interview:Recommending markets of 50k-100k peopleScraping BizBuySell listingsReaching out to 200 potential investorsRaising $1 million equity in 2 weeksAdvantages/disadvantages of searching under 30Moving across the country for the transitionFlying home on weekendsGrowing to reduce customer concentrationHis responsibility to employeesGrowing 50% in 2 yearsReferences and how to contact Jacob:Jacob’s YouTube channelFloors GaloreLinkedInJordan Dubin on Acquiring Minds: First Acquisition in March, $200m by Year EndLearn more about Walker Deibel's done-with-you buy-side advisory:The Acquisition LabGet 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 jenny@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
George Stern leaned into changing consumer search habits when he bought a digital marketing agency doing mid-7 figures.Register for the webinars: Which Franchise Industries Make Sense in 2026? - TOMORROW!! - https://bit.ly/4jQCN0UWhat You’re Really Paying: Net Working Capital & Net Debt Explained - Jan 22nd - https://bit.ly/49mgU5YTopics in George’s interview:Turning around an Amazon seller’s agencyAcquiring 2 small ecommerce businessesLoving the customers more than the productSelling his camping equipment businessAcquiring an SEO agencyExtreme difficulty getting a loanBig banks aren’t always betterChoosing cold calling despite challengesIndustry knowledge is overratedBeing a “recovering, type-A control freak”References and how to contact George:LinkedInGrant and Julia Hensel on Acquiring Minds: Quitting Consulting to Buy a $1m SDE AgencyWork 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
Phil Koller studied the concentration and key man risks in a distribution business well-suited to him — and went for it.Register for the webinar:From W2 to Owner Mindset: How to Think About Your Take-Home Pay - TODAY!! - https://bit.ly/4r5RsI3Topics in Philip’s interview:Preferred working in a small companyHis friend talked him into real estate, then ETAInspired by Rich Dad, Poor DadImportance of having his wife on boardPaused search due to upcoming second childBought Roman Enterprises, an automotive paint distributorInherited exactly 1 employeeDid door-to-door sales to learn marketManaged customer and supplier concentration riskDrew perseverance from grandfather’s Holocaust survivalReferences and how to contact Philip:LinkedInRoman EnterprisesBen Jasper on Acquiring Minds: How to Buy a Manufacturer with $1m in Cash FlowJerod Pierce on Acquiring Minds: From SBA Loan to High 8-Figure Exit Download the New CEO’s Guide to Human Resources from Aspen HR:From this page or contact jenny@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
Matt Orley wanted to enter the short-term rentals space. Buying a business — and a brand he admired — was his way in.Register for the webinars:DO’s and DON'Ts of the LOI - TOMORROW!! - https://bit.ly/3YtLIvpFrom W2 to Owner Mindset: How to Think About Your Take-Home Pay - Jan 15th - https://bit.ly/4qJ1Xk5Topics in Matt’s interview:Investment properties as a side hustleEvolving short-term rental ecosystemDifficult transition with the sellerInfluence of Airbnb on customer expectationsImportance of clear communicationRolling up property management companiesConcentrating on one region of the countryDifference between urban and rural marketsLaunching a membership programPutting the brand first when making decisionsReferences and how to contact Matt:LinkedInInstagramRed CottageGet 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























