The Double Life of Owning a Business 2.5 Hours Away
04/22/24 • 91 min
Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:
- https://www.malaunchpad.com & enter code ACQUIRINGMINDS
John Murphy pushed through divorce, $500k debt, and a bad broken deal to finally buy a 60-year-old business doing $8m.
Topics in John’s interview:
- Losing a deal one week before closing
- Value of peer groups
- How real estate compares to business ownership
- Taking over a company before the deal closed
- Unforseen transition expenses
- Carl Allen’s business buying course
- Leaving his W-2 to search for a business
- Value of joining industry associations
- Restructuring his workforce to increase margins
- Buying a company with a management layer
References and how to contact John:
Learn more about Walker Deibel's done-with-you buy-side advisory:
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
Get $200 off your ticket to the M&A Launchpad Conference in Houston on May 11th:
- https://www.malaunchpad.com & enter code ACQUIRINGMINDS
John Murphy pushed through divorce, $500k debt, and a bad broken deal to finally buy a 60-year-old business doing $8m.
Topics in John’s interview:
- Losing a deal one week before closing
- Value of peer groups
- How real estate compares to business ownership
- Taking over a company before the deal closed
- Unforseen transition expenses
- Carl Allen’s business buying course
- Leaving his W-2 to search for a business
- Value of joining industry associations
- Restructuring his workforce to increase margins
- Buying a company with a management layer
References and how to contact John:
Learn more about Walker Deibel's done-with-you buy-side advisory:
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
The Gritty, High-Capex Road to Millions
Reid Tileston bought a business that relied on $800k trucks, capex he came to love for the fat margins they produced.
Topics in Reid’s interview:
- Working on the business instead of in it
- Writing a book about acquisition
- People are the worst and best part of business
- Power of feedback and relationships for business owners
- The company’s slow temp-to-hire process
- Getting his CDL to be hands-on
- Moving paper processes to the cloud
- Pros and cons of an Employee Stock Ownership Program
- Personally testing field service management tech
- Risks of informing employees of a business sale
References and how to contact Reid:
Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Learn more about Walker Deibel's done-with-you buy-side advisory:
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
Rolling-Up to $15m EBITDA
Robert Graham & Aaron Blick's first acquisition did $1.2m SDE. Four years later, their roll-up generates $15m in EBITDA.
Topics in Robert & Aaron’s interview:
- Going from lifelong friends to business partners
- Impact of private equity on industry roll-ups
- Running their companies remotely
- A competing business poaching employees
- Financial shocks after taking ownership
- Why they believe in buying big
- Necessity of hiring presidents to operate their businesses
- Company presidents guaranteeing the SBA loan
- Blending SBA loans with a roll-up model
- How buyer-seller power dynamics shift after purchase
References and how to contact Robert & Aaron:
- Episode #149 Home Care Business: How to Buy and 2x an Agency
- Episode #218 Taking the Plunge into Extreme Ownership
- Robert Graham LinkedIn
- Aaron Blick LinkedIn
- Robert Graham Twitter
- Pillar Health Group
- SIG Partners
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:
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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