Potential Collapse: Live Report on a Tough Acquisition
07/13/23 • 66 min
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:
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:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Previous Episode
5x in 5 Years: Buying Small to Grow Quickly
Holdco entrepreneur Chase Murdock buys very small businesses with potential for rapid growth & decades of staying power.
Topics in Chase’s interview:
- Starting a custom suit company with $750
- Decata Group's “car wash integration process” for acquisitions
- Workshop SLC’s 5x growth in the first year of acquisition
- Getting out of the “small business death zone” ASAP
- The knife fight of acquiring and growing small businesses
- The #1 ingredient in company building
- Maslow’s hierarchy of business needs
- What surprised him about the trades industry
- Conviction in the ability to 5x a business in 5 years
- The intellectual challenge of building a holdco
Links and how to contact Chase:
- Decada Group
- Tailor Cooperative
- Workshop SLC
- Built by Design Construction
- Northern Electric Company
- Tatton Baird
Learn more about Walker Deibel's done-with-you buy-side advisory:
Connect with A-players who can run your business remotely:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Next Episode
How One Tiny Acquisition Grew Into a Holdco
Matt Huggins bought a small water & cable utility doing $200k/year. 15 years later, his holdco is on track for $20m/yr.
Topics in this interview:
- Matt's decision to step off the academic track
- Matt's career as a professional online poker player
- Transitioning from poker to small business
- Acquiring a utilities company for a group of condos
- The surprising complexity of running a utilities company
- Starting a manhole lining business
- The stability and diversity of the water industry
- Acquiring businesses from retiring owners without needing capital
- The value of a fractional CFO
- The reward of helping employees
References and how to contact Matt:
- Peak Group Companies
- Advanced Lining
- Peak Water Services
- Advanced Pump & Equipment
- Gordo Sales
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact [email protected] or visit Aspen HR
Connect with A-players who can run your business remotely:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
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