How to Survive Buying a Bad Business
It looked like a dream: $2m EBITDA, recurring, large market. Only after Judd Lorson bought it did he learn the truth.
Topics in Judd's interview:
Searchfund accelerator pros & cons
Understanding investors' role in your acquisition
Importance of 100% transparency with employees (even pre-acquisition)
Debt collection business pros & cons
Discovery that he's acquired a bad business
Managing hostility with sellers
What is the proper attitude for buying a business?
How to resign as CEO the right way
Links & how to reach Judd:
Original case note from Yale about Judd's story
The Acquiring Minds…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.