09:19:23 - This week in The Hub - Main Street Weekly
What you need to know about buying, growing or selling small to medium businesses. The news, the pods, the social influencers. Curated from the world of SMB (small to medium business)
We do the research and bring you what’s pertinent when you want to grow, scale, buy or sell your first or your next business.
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In the News, Blogs, and AI …
Three key steps to take when considering a practice sale or merger
Mergers and acquisitions have come to private practice medicine during the last 5 years — and in a big way. It would be difficult to find a physician of any specialty in any U.S. location who is not aware of this trend.
Physicians reading this article are likely to personally know other physicians who have recently considered a practice sale or merger, or even consummated a transaction. Perhaps you are in this position yourself. (1075 words) Read more here…
Revolutionize Small Business with Generative AI
Generative AI presents a wealth of opportunities for small enterprises across diverse industries.
Generative AI can significantly assist small businesses in managing their social media presence more effectively. Utilizing AI, businesses can examine trends, predict engagement patterns, and suggest relevant content ideas. This ultimately saves time and resources while maintaining a consistent brand image. (908 words) Read more here…
How virtual data rooms are revolutionizing due diligence?
Document management has been transformed by virtual data room due diligence. In the days of paper-based document management, the evaluation of potential takeover candidates was a cumbersome process that required legal firms and a lot of time. Companies that are for sale offer their pertinent information in the best data rooms during financial due diligence so that the company’s stability and solvency may be easily accessed online. (820 words) Read more here…
MBAs Are Spurning McKinsey to Buy Small Companies
Entrepreneurship through acquisition, or ETA, is seeing a surge of interest among B-school grads.
In high school, Nick Wheeler dreamed of becoming a Green Beret. He achieved that during a decade-long Army stint, eventually leading a 12-man special forces team deployed in Eastern Europe. (1500 words) Read more here…
If You're Trying To Grow Your Small Business, Stop Ignoring Automation
I talk to agency owners every single day, and most of them share one common struggle: Their profit margins are very thin. Many businesses are working on single digits.
While publicly traded companies can add more people and operate in negative margins for a long time in order to grow, small businesses cannot afford it. I totally understand this challenge. I personally would hire 10 more people today if I could, but I have had to learn to be more efficient. (735 words) Read more here…
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In the Pods …
Leaving a Big Salary in DC for Small Business in Wyoming - Eric Hayes Interview | Acquiring Minds
A wife & 5 kids. The amenities of life in a big metropolitan area. A commitment with his wife to stay put in their current home after years of moving around. A big job overseeing the construction of a megaproject in the nation's capital.
That is the picture of Eric Hayes' life when he decided to buy a business and move his family across the country to Laramie, Wyoming. Not that it was a sudden decision. It was years in the making, with starts and stops along the way. But he got there, and this is the story of how. Please enjoy this interview with Eric Hayes of Rocky Mountain Reclamation. [1:30:18] Watch here…
E141: Navigating the Emotional and Practical Challenges of Business Transitions with Laurie Barkman | How2Exit E141
Laurie Barkman shares her journey from being the CEO of a privately held company to becoming a mergers and acquisitions advisor. She discusses the emotional and practical aspects of business transitions and highlights the importance of planning for the future.
Laurie also emphasizes the need for a transition mindset and the value of understanding the different types of buyers in the market. The book "Business Transition Handbook" is a valuable resource for business owners, family businesses, next-gen leaders, and acquisition entrepreneurs who are looking to navigate the complexities of business transitions. [58:36] Watch here…
HVAC for fun, profit and not buying yourself a job in Toledo | Acquisitions Anonymous 227
In episode 227, Acquisition's Anonymous features John Wilson (@WilsonCompanies) for another episode. He joins Heather (@EndresenHeather) and Michael (@girdley) in discussing the potential acquisition of an HVAC and plumbing company in Northwestern Ohio. They analyzed the listing, priced at $980,000 with a cash flow of $235,351 and gross revenue of $1,217,347.
They point out that the business seems stagnant, operating in a region with limited growth opportunities, and stress the importance of understanding customer acquisition costs. John and Heather caution against overpaying and highlight the significance of having a clear strategy for growth before acquiring a home service company. [29:56] Watch here…
How to Get Rich [Full Interview with Dave Ramsey] Alex Hormozi
Local Business Owners I'm looking to invest in chains with at least $1M in combined annual PROFIT who want to scale. If that's you , would love to chat. Click the link below to fill out the form: ➡️
For everyone else, I make my money buying and growing businesses. I make this free content with the hopes you use it to grow your business enough to partner with us. [1:06:04] Watch here…
BIG Business Valuation MISTAKES Internet Marketers Create with Raleigh Williams | Steve J Larsen
Come to think of it… I have made 55 products in three years, many of which have been taken down. I didn’t see the real value they bring when it comes to business valuation.
Then came Raleigh Williams, a mergers and acquisitions lawyer turned business owner and now my business partner. Raleigh started as a mergers and acquisitions lawyer–working at a big law firm in New York and then later in Texas. When he saw how these big companies earn millions (and even billions) of dollars through acquiring businesses or selling divisions of their companies, he got into building his own business.
He went from earning $2M a year in profit from his family entertainment business to selling the entire business for $26M. Then Raleigh made me realize the biggest mistakes that internet marketers like me create. Let us share them with you in detail and hopefully enlighten you. [21:52] Watch here…
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Founding Member Shout-Out
Shout out to our new founding member, with over 30 years in M&A, this company offers a Resource Center helping you buy good businesses. Very underpriced - get it now before they finish upgrading the site and very likely up the pricing.
Catch the latest issue of Acquisition Aficionado Magazine - a proud sponsor of The Hub! click here
In the Knowledge
The art of growing small: tips for scaling your business
Small businesses often dream of scaling up, expanding their reach, and increasing profitability. However, the path to growth can be treacherous if not navigated carefully. In this article, DSR Digital explores the art of growing small businesses, providing insights on how to strategically scale while maintaining financial stability. Whether you’re attracting traffic from different regions, these tips will help you find a balance that works for your diverse audience. (675 words) Learn more here…
4 things to consider before scaling your small business if you want to avoid crashing and burning, according to founders
Contrary to popular belief, there's more than one way to successfully scale a small business.
"I think the media often portrays one narrative — those unicorn startups that get the big VC funding and that are growing at a crazy pace," Marnie Rabinovitch Consky, the founder of the anti-chafe-shorts brand Thigh Society, told Insider. "That's great, but that's not a requirement for growth." (1041 words) Learn more here…
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In the BIG Guys Corner … (middle market and above)
Katy Perry sells music catalog to Litmus Music for reported $225 million
Katy Perry is no longer chained to the rhythm.
On Monday, Litmus Music announced that the pop star sold her catalog for a reported $225 million, according to Variety and Billboard.
The deal includes Perry's stakes in master recordings and publishing rights to her five studio albums released under Capitol Records: breakthrough album "One of the Boys"; the hit-spawning "Teenage Dream” and "Prism"; the divisive "Witness"; and the motherhood-inspired "Smile." Those albums feature Perry’s nine No. 1 hits on the Billboard Hot 100, including "Firework," "California Gurls" and "I Kissed a Girl." (475 words) Read more here…
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In the Sosh … who to follow this week
Barbra Corcoran
Barbara Corcoran’s credits include straight D’s in high school and college and 20 jobs by the time she turned 23. It was her next job that would make her one of the most successful entrepreneurs in the country: She borrowed $1,000 and quit her job as a waitress to start a tiny real estate company in New York City. Over the next 25 years Barbara would parlay that $1,000 loan into a $5 billion real estate business, building the largest and best-known brand in the business.
Conect with her on LinkedIn, or website - barbaracorcoran.com/.
Thomas Smale
I'm the founder and CEO of FE International - a tech focused M&A advisory firm with over $1bn in closed transactions. We have closed over 1200 deals working with investors and founders all over the globe.
I'm also an investor and advisor to multiple businesses in the tech sector, spending my time helping them grow.
Regularly featured speaking at conferences, industry publications, radio, TV, podcasts and other forms of interviews - always open to new opportunities to talk about the world of M&A.
Connect with him on LinkedIn, or website - feinternational.com.
In the calendar …
The Exit Meetup by Flippa, In a City Near You Soon
The Exit Meetup is a local meet-up for like-minded business owners.
Meet others, and talk about growth and the opportunity to buy or sell. Plus, hear from a successful acquisition entrepreneur. This is an informative and entertaining meetup aiming to connect owners and investors in a fun environment. Check it out...
SMB Acquisitions Entrepreneurs Bi-Monthly Networking
A twice-monthly networking meeting where acquisitions entrepreneurs come together online to build teams, share ideas and resources, and help each other succeed. The first and Third Tuesday of each month. Check it out...
2023 Hold Co Conference - Sept 18-20 - Cleveland Ohio
The official “Un-Conference” of micro-PE. Where Holding Companies Meet, Learn, Scale, and Grow. Check it out...
Next SMB Event - Sept 28, '23 - Austin, TX
This will be an afternoon/evening mixer for SMB owners, investors, and operators. We'll be in the Hill Country of Texas with - Catered food - Live music - Pool - Fire pit - Fly in, build your network, make some IRL friends
Contact @JoshuaMSchultz on twitter for details
The Self-Funded Search Conference - Sep 30 - Oct 1, 2023 - Dallas, TX
The Self-Funded Search Conference is the first and only conference dedicated exclusively to the self-funded search model of entrepreneurship through acquisition (“ETA”) – exclusively for self-funded searchers. This annual conference is hosted by the Self-Funded Search Association (“SFSA”), a not-for-profit organization (NFPO) for individuals who are seeking to purchase a company through the self-funded path to entrepreneurship through acquisition. Check it out...
Rice's Entrepreneurship through Acquisition Conference - Saturday, October 14 - Houston, TX
The State of Search in the U.S. Conference focuses on search fund entrepreneurs, bringing them together with investors, students, and faculty. By Rice Entrepreneurship Association. Check it out...
10th ANNUAL ENTREPRENEURSHIP THROUGH ACQUISITION CONFERENCE - Wednesday, November 1, 2023 - Chicago, IL
The Booth-Kellogg ETA Conference is an annual event that brings together search fund entrepreneurs, investors, MBA students, faculty, and other participants in the ETA ecosystem to meet one another and share insights into this rapidly-growing area. The 10th Annual Booth-Kellogg ETA Conference at the Marriott Magnificent Mile | 540 Michigan Ave, Chicago, IL. Check it out...
Main Street Summit - November 8-9 - Columbia, MO
A festival for SMB owners, operators, and investors.
An immersive two-day experience for small to medium-sized businesses with ~10-500 employees. Choose your own adventure amongst a diverse set of presentations, interviews, debates, workshops, and conversations.
Every business has a birthplace and it’s never too far from Main Street. Check it out...
Capital Camp - May 21-23, 2024 - Columbia, MO
Capital Camp is an upcoming event scheduled for May 21-23, 2024, in Columbia, Missouri. The event is described as a gathering for "curious, kind, and thoughtful investors, capital providers, entrepreneurs, and executives" who are pushing boundaries and breaking new ground. The event spans three days and three nights, offering serious investing conversations in a relaxed setting—think shorts and sandals rather than suits and ties. Attendees can expect interactive programming, a variety of outdoor activities, and an endless supply of food, drink, and entertainment. The event has received high praise from past attendees, with many describing it as the most valuable and best investing conference they've ever attended.
Women’s Small Businesses Show Remarkable Growth Despite Stiff Challenges
October 3rd symposium at the Sonesta Hotel in White Plains will help local woman entrepreneurs overcome their toughest obstacles. The event kicks off National Women’s Small Business Month.
Speakers from SCORE, Mastercard, Community Capital New York, Women’s Enterprise Development Center, successful local entrepreneurs, and more will share lessons learned. Read more here…
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