Acquiring Minds

By: Will Smith
  • Summary

  • 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
    2021 - 2023, Acquiring Minds
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Episodes
  • Turning Around a Blue Collar Business in Decline
    Sep 30 2024

    George Tibil & Keith Fields bought a $1.1m janitorial business with falling revenues. 9 months later, sales are up 60%.

    Topics in George and Keith’s interview:

    • Their dissatisfaction with the corporate ladder
    • Calling on Acquiring Minds guests for search advice
    • Acquiring a ServiceMaster Clean franchise location
    • What changed their minds about franchises
    • Firing their first employee before taking ownership
    • Cleaning all night when business was understaffed
    • Managing an immigrant-heavy workforce
    • Turning the culture around
    • 40% growth without outbound sales
    • Power of good partnerships

    References and how to contact George and Keith:

    • ServiceMaster Clean Buffalo
    • George Tibil LinkedIn
    • George Tibil Twitter
    • Keith Fields on LinkedIn

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

    • Contact mark@aspenhr.com or visit Aspen HR

    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
    Show more Show less
    1 hr and 40 mins
  • When the Business Can't Be Saved: Resilience
    Sep 26 2024

    Register for the webinars:

    • Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4dhSAAX

    • How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3MU6hLu

    Dustin Fusillo bought a struggling ATM parts & services business. Unhappily, the decline continued under his ownership.

    Topics in Dustin’s interview:

    • Starting a private school in Florida
    • Personal growth after divorce
    • Losing money in 3 business ventures
    • Reaching out to successful people for advice
    • Backing out of a bad deal after selling his home and moving
    • Buying a turnaround ATM business
    • Liquidating inventory to a competitor
    • Learning to manage anxiety and anger
    • Importance of an industry-specific accountant
    • His current role as a P&L manager

    References and how to contact Dustin:

    • LinkedIn
    • Twitter

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

    • Oberle Risk Strategies - Search Fund Team

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

    • Book a call with Tim or email hello@systemsix.com and mention Acquiring Minds

    Get $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:

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

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter
    Show more Show less
    1 hr and 19 mins
  • The Appeal of Franchise Buying: $1m EBITDA in 2 Years
    Sep 23 2024

    Register for the webinars:

    • Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4grubvD

    • How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3zgUbJr


    Corey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.

    Topics in Corey interview:

    • Leaving the security of his corporate job
    • What he likes about Batteries Plus
    • Buying an expansion location for $100k cash
    • Changing the culture at one location
    • Remotely managing Texan teams from Iowa
    • An HVAC acquisition that went poorly
    • What he learned about making big changes
    • Operating an independent business compared to a franchise
    • The toll it took to spread himself over multiple industries
    • His current role as an investor in small business acquisitions

    References and how to contact Corey:

    • Webinar cited in the intro: How (and Why) to Choose a Franchise as an Acquisition Entrepreneur
    • LinkedIn
    • Instagram
    • Batteries Plus
    • Brian Beers Acquiring Minds interview

    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 mark@aspenhr.com or visit Aspen HR

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

    • The Acquisition Lab

    Connect with Acquiring Minds:

    • See past + future interviews on the YouTube channel
    • Connect with host Will Smith on LinkedIn
    • Follow Will on Twitter
    Show more Show less
    1 hr and 56 mins

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The BEST Searchfund Advice!

We love Will Smith and the insights his podcast gives to us that is applicable for the whole deal process. He will even bring on guests on years later for them to recap on the transition process and everything in between.

Thanks for everything, Will!

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The best way to learn about search and acquiring small businesses

I’ve read Buy then Build, and HBR’s Guide to buying a Small Business. Both are great books on the nuts and bolts of ETA, but Will Smith’s podcast is then best way to learn from the experiences of over 100 acquisition entrepreneurs.

Great content, binge worthy, and always easy to listen to at >1.5x speed!

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