Acquiring Minds

Nick Molina on how he found, acquired, & plans to manage a 275-employee business in Minneapolis from his home in Miami.

Topics in Nick’s interview:

• Taking his first company public in 1998
• His unwillingness to retire
• The tremendous cost of start-ups
• Which state he won’t do business in
• Buying a business he doesn’t have to operate
• Importance of listening in sales
• Living in Miami while owning a business in Minneapolis
• What makes a good property management business
• Using a loan broker
• Appeal of keeping a business in his family

References and how to contact Nick:

• LinkedIn
• Twitter
• [email protected]
• Endangered Investments

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Get a complimentary IT audit of your target business:

• Email Nick Akers at [email protected], and tell him you’re a searcher

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Where Searchers Go Wrong - Thu Nov 14 - https://bit.ly/3O0im2a
• Legal Office Hours: Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3O3zqo2

Sam Rosati & partners built the Sunbelt's largest commercial fencing contractor in 3 years. But the origins were modest.

Topics in Sam’s interview:

• His background in accounting and law
• Being inspired by Chenmark and Brent Beshore
• Acquiring Alpha Dumpsters with his brother
• Birth of SMBash
• Origin story of SMB Law
• How an independent sponsor differs from a self-funded searcher
• Investing in a commercial fencing business
• The role of luck in success
• Acquiring and consolidating fence businesses
• Partnering with private equity

References and how to contact Sam:

• LinkedIn
• Twitter
• SMBootcamp
• Chandler Reed on Acquiring Minds: Boom, Bust, Boom: Buying a Whiplash Business
• John Hubbard on Acquiring Minds: Why Buy a Small Manufacturing Business? and Time to Sell? Growing EBITDA from $750k to $2m

Get a free review of your books & financial ops from System Six (a $500 value):

• Book a call with Tim or email [email protected] and mention Acquiring Minds

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register for the webinars:

• Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29
• How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpV
• Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1
• How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1

It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.

Topics in Brittney’s interview:

• Running a property management business while acquiring
• Winning over the employees after transition
• Unexpected costs of maintaining equipment
• Cashflow problems led to layoffs in off-season
• Getting used to project-based revenue
• Putting an extra out-of-pocket $30k into the business
• Using local service ads on Google through slow season
• Being inspired by Codie Sanchez and Tommy Mello
• Comparing startups with acquired businesses
• Owning and operating a business with her husband

References and how to contact Brittney:

• LinkedIn
• [email protected]
• Tommy Mello
• Codie Sanchez

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Today's guest recounts the many ways her acquisition has misfired, revealing how hard owning a small business can be.

Topics in this interview:

• The clash between personal values and effective leadership
• How the seller misrepresented the business
• Ongoing legal issues that distract from operating
• The possibility of the business collapsing
• What she missed in due diligence
• Difficulties in leadership transition and the impact on morale
• How the business affects her personal relationships
• The need for a support system and external advisors
• Key employees leaving to start competing shops
• Why she gives the business a 65% chance of surviving

Get a complementary pre-acquisition HR & PEO review for your target business:

• Contact [email protected] or visit Aspen HR

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter

Register here for the webinar, How to Raise Equity to Buy a Business

• https://bit.ly/3SUJhzQ

Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:

• https://www.malaunchpad.com & enter code ACQUIRINGMINDS

Peter deBaptiste bought a 35-person plumbing business with 2 very technical, hands-on owners 1 hour away from his house.

Topics in Peter’s interview:

• Building operational skills in a start-up
• Acquiring Joe Cole Plumbing
• His disappointing first day as owner
• Buying from 2 co-owners
• Surprises in employee turnover
• Losing clients to a former employee
• What he likes about the plumbing business
• The complexities of working capital in construction
• Why he recommends holding off on strategy
• Underestimating his salary needs

References and how to contact Peter:

• LinkedIn
• Twitter
• Joe Cole Plumbing
• Episode with Peter's friend, Morgan McCauley:
  Taking the Plunge into Extreme Ownership

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter