Shows / Acquiring Minds
Acquiring Minds
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
Episodes
Acquiring MindsThe Contrarian Bet on a Digital Agency
George Stern leaned into changing consumer search habits when he bought a digital marketing agency doing mid-7 figures. Register for the webinars: Which…
Acquiring MindsComfortable Concentration for a $800k SDE Business
Phil Koller studied the concentration and key man risks in a distribution business well-suited to him — and went for it. Register for the webinar: From W2 to…
Acquiring MindsThe Real Playbook Behind an Operator-Led Roll-Up (10 Acquisitions in 18 Months)
Mike Markus ( https://x.com/PrivatEquityGuy ) talks to Jeremy Yamaguchi ( https://x.com/jeremyyamaguchi ) about how he acquired 10 companies in 18 months…
Acquiring MindsBuying for Brand (Then Growing 4x)
Matt Orley wanted to enter the short-term rentals space. Buying a business — and a brand he admired — was his way in. Register for the webinars: DO’s and…
Acquiring MindsWhy aren’t more $2-10M EBITDA companies hiring a CIO?
This one hire is something all profitable, cash-flowing traditional businesses can do. Yes, it can be a significant investment -- great specialists aren’t…
Acquiring Minds8-Figure Exit After 5 Years
Adam Vandermyde had to be persuaded to acquire the $15m business that he ultimately professionalized and exited to PE. Register for the webinar: How to Present…
Acquiring MindsFrom Near Collapse to $100M+ Exit: A Story of 8 Smart Acquisitions
In this episode, Todd Saunders shares how one small group of customers with much better retention changed the direction of his entire business. Instead of…
Acquiring MindsComplexity Hides Fragility: Losing a $20m Business
Joe Odell and his partner acquired a business with over $4m in earnings and lots of green flags. It went sideways fast. Register for the webinar: How to…
Acquiring MindsThe Playbook Behind 605+ Acquisitions | Justin Ishbia research
We go deep on Justin Ishbia, co-founder and Managing Partner of Shore Capital Partners - one of the most successful lower-middle-market private equity firms in…
Acquiring MindsBuying Small to Then Buy Larger ($1m SDE)
The first business Joe Soelberg bought did $400k SDE. The experience and cash flow enabled a second, larger acquisition. Topics in Joe’s interview: Leaving…
Acquiring MindsPassion & Profit in an American Pastime
Former pro bowler Mike Fagan bought a $2m bowling center with a plan to roll up and rejuvenate these legacy businesses. Topics in Mike’s interview: His…
Acquiring MindsHow I Bought 5 Businesses After Failing My First Acquisition
Steve Lawrence, the founder of Uncomplicated Group went from middle management at a $14B manufacturer to buying five businesses in a few short years -- now…
Acquiring MindsWhen You Buy a Glorified Job, Not a Business
Tato Corcoran packed a lifetime of learning (and tears) into 18 months when she left tech & bought a tiny manufacturer. Topics in Tato’s interview: Connecting…
Acquiring MindsHow Smart Buyers Create Alpha Without Cheap Debt
For the last 20 years, private equity followed a simple formula: buy with leverage, cut costs, rely on multiple expansion, exit at a higher valuation. That…
Acquiring MindsGetting Unstuck by Buying a Business
The construction services business Christian Bateson bought will do $7.5m in 2024. It also rescued him from the depths. Topics in Christian’s interview: His…
Acquiring MindsThe Playbook for 50-200% Annual Company Growth
In this episode, I’m joined by John Seiffer - the person investors, company buyers and operators call when growth starts getting expensive, messy, or fragile…
Acquiring MindsHow to Buy a Generational Brand with $20m in Sales
Respected consumer brands are not common in lower middle market acquisitions, but Philip Hussey and Chenmark bought one. Topics in Philip’s interview…
Acquiring MindsI didn't join PE to be an operator
The future of private equity talent is moving toward ownership. We explore why the traditional PE career path is breaking, why carry no longer delivers the…
Acquiring MindsReward for 17-Month Deal: $1.8m of EBITDA
Robert Gayden worked for over a year to buy a home care business. Revenue kept growing but the price remained the same. Register for the webinar: What Killed…
Acquiring MindsThere Is No Path — How Elite Investors Actually Build Their Lives, Careers, and Companies
In this episode, we break down a powerful idea from Jeffrey Walker, a private equity veteran who backed thousands of entrepreneurs and watched success and…
Acquiring MindsThe 7-Year Collapse of an SBA Acquisition
Scott Duncan endured brutal ups & downs — and personal depression — during his ownership of a doomed tool & die business Register for the webinar: How to Model…
Acquiring MindsHow I Quit My 6-Figure Job and Bought 9 Companies
Today’s guest, David Dowda (Dowda Holdings), went from burned-out insurance salesman working 80-100 hour weeks to buying his first business doing just $30,000…
Acquiring MindsSBA Acquisition to $9m Cash Exit in 5 Years
Andy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exit Register for the webinars: How to…
Acquiring MindsHow These Firms Turn $5M-15M Companies Into 100x Returns
How these serial acquirers generate 20-40% annual returns for decades? They buy small, niche, profitable companies again and again. In this episode, we break…
Acquiring MindsETA Unicorn: $1 Billion in Revenue in 5 Years
Steve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected. Register for the webinars: How to Run…
Acquiring MindsFrom VC to Main Street: How AI Is Rewiring Service Businesses
In this episode, Cyrus Hessabi from Shore Capital Partners breaks down what it really looks like to build AI-enabled services, transition from VC to micro-cap…
Acquiring MindsBuying for $600k, Selling for $35m
Jake Bittner bought an unprofitable carve-out doing $3m. A key pivot grew revenue to $20m and got the attention of PE. Register for the webinar: How to Run the…
Acquiring MindsHow to Find 10x MOIC, 30%+ IRR Deals (Step-by-Step)
Most people in ETA quote the Stanford Search Fund Study, but almost no one looks at what investors actually earn. In this episode, we break down new Yale data…
Acquiring MindsWhen a $2.8m Acquisition Is More Like Zero-to-One
Dave Gilbert spent 2 years fixing the model and customer concentration of the $750k SDE family business he bought with SBA debt. Topics in Dave’s interview…
Acquiring MindsI Bought 20 Companies (Here's What I Learned) | Sequoya Borgman Interview
Sequoya Borgman has quietly built one of the most interesting retail-funded private equity machines in America. Since launching Borgman Capital in 2017, he’s…
Acquiring MindsWhen to Buy a Large Consumer Business
Taylor Mattingly found high-quality revenue in an unusual and sizable B2C business that he happened to be a customer of. Topics in Taylor’s interview: Being…
Acquiring MindsHow I Retired at 30 as a Family Office Investor (Here Are the Investments I've Made)
Akshay Ramachandran is a retired family office investor. In his last role, Akshay was the sole analyst at a New York-based single family office, reporting…
Acquiring MindsThe Dream Outcome: From $300k to $5m EBITDA
From the acquisition of a tiny refrigeration business, Linh Tran has built an enterprise that earns millions annually. Register for the webinar: What a Good…
Acquiring MindsBuy 5 Companies as Fast as You Can (1-on-1 Advice From Fredrik Karlsson That Changed Everything)
There’s a holding company that almost no one talks about, yet it might be one of the most efficient compounding engines. RÖKO owns 29 niche, traditional…
Acquiring MindsBuy Well, Exit Better: A $67m Win in 4 Years
Greg Geronemus bought a highly-profitable travel business at favorable terms, helping to ensure a great return on exit. Register for the webinar: What a Good…
Acquiring MindsIan Rickwood on AI, Private Equity, Car Wash & Real Estate Investing | Henley Group
Ian Rickwood, Founder and CEO of Henley Group, has quietly deployed $4B+ across US and Europe, built and sold food chains, and is now rolling up US car washes…
Acquiring MindsBuying to $4m Across 7 Sites in 3 Years
Gail Azodo discovered a method of buying audiology practices with 100% financing. She's moving quickly to buy and build. Register for the webinar: Financing…
Acquiring MindsHow to Win Deals Over Private Equity (Even if They Pay 10-20% More)
One of the most underrated skills in business acquisitions. Beyond financial models and deal structures, many great acquisitions happen because buyers know how…
Acquiring MindsWhy Choose Ownership Over Being a CEO
After chafing under the constraints of being a CEO, Katherine Butler-Dines & Rahul Desai bought a business of their own. Register for the webinar: Financing…
Acquiring MindsThe Private Equity Bubble? | Inside a Private Equity Firm Built for What Comes Next
My guest today is Joel Mathew, Head of Originations at Woodson Equity. We discuss how his entrepreneurial path led him into private equity, Woodson’s “inch…
Acquiring MindsHow to Build a $5m Media Business Into a $20m Flywheel
Clayton Collins acquired HousingWire with a big vision for the small media business. 9 years later, it has come to life. Register for the webinar: Overcoming…
Acquiring MindsThe One System That Scaled from $3.5M to a 15-Company Portfolio (Sid Jashnani)
How Sid Jashnani scaled his firm into a portfolio of 15 companies and $77 million in revenue. If you’re an investor or builder, this is a masterclass in…
Acquiring MindsTiming is Everything: Buying a $30m Tutoring Business
Both buyer Jared Lenner and seller Dave Serwitz share their perspectives on the acquisition of a 20-year-old business. Register for the webinars…
Acquiring Minds7 Acquisitions Done — Buying Businesses on “Easy Mode” in 2025 (here’s why)
Buying a small business and raising the equity shouldn’t take a roadshow. In this episode, Donza Worden (ex–institutional PE, Clear Peak Capital) and Travis…
Acquiring MindsStarted Mid-Career, Grew to $38m in 3 Years
Shaun Stimpson had worked for two decades before pivoting to buying businesses in a different industry. He's moved fast. Register for the webinar: Tax Issues…
Acquiring MindsHow to Build a 7-Figure Company from Scratch (with Mac Lackey)
My guest today is Mac Lackey, an entrepreneur who has founded and sold six companies, each with 7-and 8-figure exits - including two back-to-back internet…
Acquiring MindsBuying a Wide Moat in a Consolidating Industry
Ania Aliev was so eager to buy her business, she worked the deal while in labor at the hospital. It's been worth it. Register for the webinar: Tax Issues…
Acquiring MindsHow Builders Build Wealth That Lasts (and Mistakes to Avoid)
You’ve spent years building something from nothing — finding deals, operating, and growing real value. But what happens after success? Once liquidity arrives…
Acquiring MindsFrom €4 Million, to Zero, to €12 Million
Despite skepticism from her US investors, Ivona Butcher bought (and tripled) a business in her native Czech Republic. Topics in Ivona’s interview: Doing…
Acquiring Minds4 Portfolio Companies and The Gritty Playbook of Value Investing | Reggie Pryor Jr.
Value-driven investor and turnaround specialist Reggie Pryor Jr. (Founder, Pryor LLC) breaks down his simple but relentless playbook: buy what others overlook…
Acquiring MindsBuilding Trust as New Owner of a $3m Business
Ruchik Gandhi was a diligence CPA when he decided to get in the game himself. Becoming an owner has been an education. Topics in Ruchik’s interview: India >…
Acquiring MindsHow They Turned $8 Million into $450 Million (by Following THIS #1 SIMPLE Habit)
The greatest builders in history share one habit that changed their fortunes. You’ll hear how a single paragraph led Munger to a $500 million investment, how…
Acquiring MindsHow to Build Proprietary Deal Flow? (15 Off-Market Acquisitions)
Peter Lang has done 22 acquisitions (mostly off-market). Grant spent a full day at his masterclass—and it was the most valuable single-day M&A professional…
Acquiring MindsBuying a $1.6m Business for the Inventory Value
Undeterred by self doubt, Danyelle Nys bought a $400k SDE business at a fantastic price. She's grown it 25% in year one. Topics in Danyelle’s interview…
Acquiring MindsBuying 2 Rivals to Create a Dominant Leader
When his deal died the first time, Kyle Poll was devastated. But then it came back around, larger and more interesting. Topics in Kyle’s interview: Skills he…
Acquiring MindsLessons from 100+ Acquisitions You Can Implement TODAY | Joe Liemandt
In this deep dive, we unpack the operating philosophy of Joe Liemandt - builder of Trilogy Software and ESW Capital, and now the force behind Alpha School -…
Acquiring MindsTrades Over Tech: Buying an Appliance Repair Business
Brian Seeling sought a blue-collar business with a good manager in place. He found exactly that — with $2.6m in revenue. Register for the webinar: Tactical EQ…
Acquiring MindsHow We Bought 27+ Businesses and Built a $1 Billion HoldCo at 39 | Steve Carroll Interview
Steve Carroll is the CEO & co-founder of Kelso Industries, a national MEP services platform uniting HVAC, mechanical, plumbing, and electrical companies. In…
Acquiring MindsAcquisition Unlock: €210m in 5 Years
Nick Keegan owned a struggling software business doing just €1m/yr until an acquisition put it on the path to 9 figures. Register for the webinars: How PACT…
Acquiring MindsHow I Completed 12+ Acquisitions and Still Built a New Roll-Up
My guest today is Nick Hatchka, founder of Cub Investments, which has completed over a dozen acquisitions. Nick is now building a regional platform of…