Acquiring Minds

Hosted by Will Smith

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504

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Oct 2026

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About the show

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

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60 recent

October 26, 20261 hr 14 min

Zero to One, Then 1 to 4 by Acquisition

Rahib Diwan started a short-term rental company, then bought another one 3x its size without having to use more cash. Topics in Rahib interview: From healthcare to short-term rentals Building the business from scratch Choosing Nashville as the market Luxury properties as a niche Valuing the property management business Financing through an SBA expansion loan Sellers retaining 20% equity Preserving property-owner relationships Unexpected customer churn after acquisition Rebuilding operations and booking momentum References and how to contact Rahib: LinkedIn Visit Nashville Now Matt Orley on Acquiring Minds: Buying for Brand (Then Growing 4x) Megan McGee on Acquiring Minds: No SBA Loan and $75k Out of Pocket Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: 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 Edited by Anton Rohozov and produced by Pam Cameron

October 22, 20261 hr 25 min

Buying a 138-Year-Old Navy Bell Maker

Jon Hyatt was under LOI on a dental practice when a late-night Craigslist search turned up one he couldn't resist. Register for the webinar: Structuring LOIs: Competitive Enough to Win, Bankable Enough to Close - TODAY!! - https://bit.ly/4s1pAWV Topics in Jon’s interview: Using Facebook groups for industry research Why labor became a search constraint The abandoned dental roll-up thesis Discovering E.J. Willis on Craigslist Falling for a 138-year-old heritage brand Buying a tiny business Navigating an asset purchase and carve-out Selling bells to defense shipbuilders Building direct-to-consumer bell demand Reviving forgotten products and company history References and how to contact Jon: LinkedIn E.J. Willis Co. The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition Lab 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 hello@systemsix.com and mention Acquiring Minds Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

October 19, 20261 hr 20 min

Take Over the Business Before You Buy It

Elias Youssef stepped into an unprofitable plumbing company as its GM, grew it 6x, then got an SBA loan to buy it. Register for the webinar: Structuring LOIs: Competitive Enough to Win, Bankable Enough to Close - Thu, Oct 22 - https://bit.ly/4B7XVHU Topics in Elias’s interview: Dropping out of community college Stacking cash as an appliance salesman Early real estate joint ventures Breaking even on an assisted living acquisition Seeking out HVAC mentorship The brutality of cold calling Operating before buying Majority equity is majority work Buying is easy. Running it is the hard part. Getting out of operations References and how to contact Elias: LinkedIn Frost and Flow Elias’s announcement of Kyle’s acquisition Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital Advisory Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: jthear@engagepeo.com Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

October 15, 20262 hr 7 min

Buying a 1-Product Business, Building It to a Big Exit

Jay Boren bought a tiny grease tool business run out of a living room, then grew it into a brand with 250 products. Register for the webinar: The Small Things That Sink First-Year Owners - TODAY!! - https://bit.ly/3VAOWiq Topics in Jay’s interview: Choosing Vermont over Silicon Valley Solving geography through ETA Discovering LockNLube through Tuck Turning a grease coupler into opportunity Navigating a hostile South African supplier Buying LockNLube as an intern Structuring a heavily seller-financed acquisition Expanding from one SKU to 250 Scaling through digital advertising and Amazon Exiting LockNLube and staying through integration References and how to contact Jay: LinkedIn LockNLube Jarrett Burke on Acquiring Minds: When a Restaurant Is a Great Business to Buy Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: jthear@engagepeo.com Get a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or hello@systemsix.com and mention Acquiring Minds Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

October 12, 20261 hr 21 min

Side Hustle Acquisition to $5m in Revenue

Brendan Guerin was 21 when he and 3 friends bought a dog daycare on the side. Today: 6 Midwest locations. Register for the webinars: Debt Financing Your Deal (SBA & Independent Sponsor) - TOMORROW!! - https://bit.ly/4rRpQaY The Small Things That Sink First-Year Owners - Thu, Oct 15 - https://bit.ly/4idBtVx Topics in Brendan’s interview: He bought his first doggy daycare at 21 The first acquisition was a deliberate starter deal Four partners split ownership and responsibilities. The $1.1M deal included real estate EBITDA margins approached 50% before rent Buying real estate protects long-term business control Midwest real estate makes their model work Covid unexpectedly supercharged dog daycare demand Brendan eventually left finance to operate full-time Today, Argos spans six Midwest locations References and how to contact Brendan: LinkedIn brendan@argospartners.com Get complimentary due diligence on your acquisition's insurance & benefits program: Oberle Risk Strategies - Search Fund Team Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital Advisory The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: 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 Edited by Anton Rohozov and produced by Pam Cameron

October 8, 20261 hr 42 min

The Roll-Up with No Investors & No Clock

Tyler Hoffman has bought 4 telecom companies with no outside equity, and works 15 hours a week to get to $50m. Topics in Tyler’s interview: Lessons from being fired repeatedly Finding and acquiring Metro Wireless Filling experience gaps with charisma Financing the $4.5 million acquisition Navigating a difficult ownership transition Discovering hidden operational problems post-close Losing half of earnings — and surviving Rebuilding Metro Wireless through operational improvements 3 tuck-in acquisitions Balancing business growth with personal autonomy References and how to contact Tyler: LinkedIn Hoffman Capital Metro Wireless Jeff Homer’s webinar: Architecture of an Entrepreneurial Roll-Up Get a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or hello@systemsix.com and mention Acquiring Minds The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition Lab Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital Advisory Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

October 5, 20261 hr 2 min

$33m Holdco: Teddy Bears to Insurance Claims

Colin King and his 50/50 partner have paid themselves little since 2018, reinvesting profits back into their businesses. Topics in Colin’s interview: Growing Circle City Capital’s business portfolio Don’t call them private equity Why Colin stopped wanting operational roles Why critical mass matters for holdcos He still earn less than operators Holdco strategy versus industry-specific rollups The fox versus hedgehog framework Learning through hands-on operating experience Why chasing money can make things harder Costly mistakes and failed acquisitions References and how to contact Colin: colin@circlecitycapitalgroup.com LinkedIn Colin King’s first appearance on Acquiring Minds: How to Build a $28m Holdco (in 6 Years) Circle City Capital Group Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: jthear@engagepeo.com 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 Edited by Anton Rohozov and produced by Pam Cameron

October 1, 20261 hr 30 min

The $150k Hiding in the Business He Bought

Patrick Dunphy acquired a low-seven-figure interpreter agency, then halved its collection times in year one. Topics in Patrick’s interview: From Army aviation to business ownership Why Patrick chose ownership over corporate success Three years searching while working full-time Turning red flags into acquisition opportunities Why intrinsic value matters beyond financial returns Building a scalable, contractor-driven service business Structuring an SBA acquisition without seller financing Cutting payment times in half through better invoicing Preserving trust through a quiet ownership transition Growing through new markets and government contracts References and how to contact Patrick: LinkedIn JS Languages Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses: Pioneer Capital Advisory Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: jthear@engagepeo.com Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

September 28, 20261 hr 28 min

How to Buy a $2.1m Business Without the SBA

Jack Rauch left politics for a niche Florida business no bank would finance. He's doubled revenue twice since. Register for the webinar: Sizing an SBA Loan to the Cash Flow - TOMORROW!! - https://bit.ly/4hrFwge Topics in Jack’s interview: From the White House to entrepreneurship Discovering an overlooked private provider niche Customers helped save the business How private inspections accelerate construction projects Expanding beyond the seller's tiny territory Navigating licensing requirements without industry experience Financing the deal without SBA backing Raising prices and finding unexpected growth Doubling revenue during each ownership year Joining industry leadership to reduce regulatory risk References and how to contact Jack: LinkedIn Tew & Taylor The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition Lab 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 hello@systemsix.com and mention Acquiring Minds Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

September 24, 20261 hr 30 min

Buying a $7.3m Golf Course with No Money Down

Kyle Holmes spent 8 years running Quail Ridge for its investor owners. Then they asked if he wanted to buy it. Register for the webinars: Protect the Business: How to Diligence Insurance Pre-Close - TODAY!! - https://bit.ly/4xvNj2E Sizing an SBA Loan to the Cash Flow - Tue, Sep 29 - https://bit.ly/4y1Xr4a Topics in Kyle’s interview: Growing up in a golf family Running Quail Ridge before becoming an owner Being approached about buying the golf course Golf’s boom, recession, and post-COVID resurgence Michigan’s surprisingly strong golf market Revenue from golf, dining, events, and driving range Improving Quail Ridge before buying the business Valuing land worth more than operations Negotiating from $6.5 million to $7.3 million Financing with SBA, conventional, and seller debt References and how to contact Kyle: LinkedIn Quail Ridge Golf Club Contact Jenny to learn how Engage can run people operations in your acquisition: Jenny Thear: jthear@engagepeo.com Get a free review of your books & financial ops from System Six (a $500 value): Book a call with Tim or hello@systemsix.com and mention Acquiring Minds Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Connect with Acquiring Minds: See past + future interviews on the YouTube channel Connect with host Will Smith on LinkedIn Follow Will on Twitter Edited by Anton Rohozov and produced by Pam Cameron

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