11:14:23 - This week in The Hub - Main Street Weekly
11:14:23 - 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 …
How to Buy a Small Business and Where to Find Them
An In-depth 13-step guide to how to buy a business.
To find small businesses to buy, consider these methods:
Directly Deal with Business Owners: Engage with smaller companies or competitors in your industry. Research and approach owners for a direct purchase opportunity.
Hire a Business Broker: Utilize brokers to connect with potential business sellers. Brokers provide industry insights and valuable information on viable business options.
Online Business Listings: Use platforms like BizBuySell and BizQuest, which list small businesses for sale. These sites allow filtering by industry, location, and price, offering a comprehensive view of local market opportunities. Read more here…
Founders, pursuing a merger or acquisition? Keep these 4 tips in mind
From financing to office space, there’s a lot to consider as a startup founder, and that’s especially true for founders from underrepresented backgrounds, who often face struggles to access capital or know what resources are available to them.
To help them avoid the worst pitfalls of business ownership, Chloe Capital’s Invest In Women x Pittsburgh has been trying to fill in the gaps by virtually sharing best practices with women founders in Allegheny and Westmoreland counties and beyond.
Its latest instructional event came as the program is searching for its next class, after a successful Ascender and Richard King Mellon Foundation-supported cohort of women-founded startups in 2022. Read more here…
The Continuing Rise of Women Entrepreneurs in 2023
It’s important to recognize and applaud the remarkable growth of women entrepreneurs in recent years. The entrepreneurial landscape has seen a steady rise in the number of women-owned businesses, reflecting not only their resilience but also their ability to adapt to changing economic conditions.
In this post, we will explore the trends and factors contributing to the ongoing surge in women entrepreneurship in 2023, drawing insights from a new data study conducted by Gusto, the all-in-one HR platform that helps small + medium businesses to take care of their hardworking teams. Read more here…
Scaling your small business for free — Jay Abraham | The Abraham Group
"It's about falling in love, not with your business or your industry or your product or service, but falling in love with the people you serve and being able to see your product or service, when deployed in their life, making a difference." — Jay Abraham (21 Min video) Read more here…
The Most Overlooked Growth Hack of Business
Selling your products or services for a higher price automatically yields an increase in net profit...."Maximizing this lever doesn’t just magically happen; it needs to be managed." - Best Selling Author Adam Coffey Read more here…
Make an exit plan
A view from a niche industry that applies to us all... Often, small business owners such as those run by irrigation contractors get to the end of their run with the industry and think they have a big book of business to sell. All It turns out all they really have to offer is a customer list as opposed company.
“You and I can do everything right, yet situations and circumstances outside your control can end up having a significant impact on the final transaction,” he says. “These can be both negative and positive.” Read more here…
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In the Pods Reviews …
Building an Empire - Businesses, Private Equity, And M&A - With Adam Coffey | How2Exit - E 159
Read the review here. Watch the podcast here.
The Hub Short Take:
Adam Coffey, author and former CEO, shares his expertise in mergers and acquisitions (M&A) and building successful companies. Adam highlights key takeaways from his books, including the significance of unit-level economics, the role of acquisitions in accelerating growth, and the different stages of building an empire.
The Takeaways:
Understanding private equity is crucial for entrepreneurs looking to grow and exit their businesses.
Acquisitions can be a fast and effective way to accelerate growth and increase the value of a company.
The Quote:
"Private equity has over 5 trillion in assets under management and buys 50% of all companies sold." - Adam Coffey
Are Your Business Assets Transferable? Heather Campbell - The Business Transition Sherpa
Read the review here. Watch the podcast here.
The Hub Short Take:
Heather Campbell discusses the importance of viewing a business as an asset and the legal considerations that come with it. She emphasizes the need to protect intellectual property, such as trademarks and trade secrets, and highlights the common legal issues faced by businesses. \
The Takeaways:
Building a business requires a strong legal foundation, including protecting intellectual property and having proper contracts in place.
It’s important to regularly assess and address legal needs in areas such as business structure, regulations, contracts, intellectual property, and dispute resolution.
The Quote:
“Treat legal as a system that supports all your other business systems.” — Heather Campbell
M&A Master Class: Chris Petrovic Teaches Acquiring Great Gaming Companies — Deconstructor of Fun Ronald Skelton - Podcast Host & Hold Co. Owner
Read the review here. Watch the podcast here.
The Hub Short Take:
Chris Petrovic, Chief Business Officer at FunPlus, shares his insights on mergers and acquisitions (M&A) in the gaming industry. He discusses the reasons why companies engage in M&A, such as buying revenue, profit, audience, expertise, or placing an early bet.
The Takeaways:
Companies engage in M&A to buy revenue, profit, audience, expertise, or place an early bet.
Post-merger integration and cultural fit are major challenges in M&A.
The Quote:
“Great companies are bought, not sold.”
How I Bought A Multi-Million Dollar Egg Carton Business For $0 | My First Million
Read the review here. Watch the podcast here.
The Hub Short Take:
Sarah Moore, the owner of eggcartons.com, shares her inspiring story of buying a business with no money down and turning it into a successful venture.
The Takeaways:
Buying a business is a viable path to entrepreneurship, even without prior experience or capital.
Don’t count yourself out; with perseverance and the right mindset, anyone can succeed as an entrepreneur.
The Quote:
“Anyone who wants to buy and operate a small business can do so. It’s a matter of will, not can.”
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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 emotional side of exit: What a business owner needs to know before they’re ‘ready to exit’
The decision to exit your business can be a big life change, especially if you’ve built your enterprise from the ground up or you’re planning on retirement. And while most business owners expect the move to be somewhat tricky to achieve, with accounts, legalities and handovers to be managed, many are unaware of just how emotional exiting your business can be, writes commercial law expert and author of Buy, Grow, Exit, Joanna Oakey.
Proper preparation is the most critical component of an exit. Sellers who understand the sales process, who have done their due diligence, who have run the business in a sale-ready state, and who have become independent of the business will experience fewer speed bumps along the way. Read more here…
LinkedIn Goldmine: Explosive 6-figure business strategies with Lakrisha Davis
Have you been sleeping on LinkedIn? If so, you are not alone. But this often overlooked social media platform can actually lead to immense business growth. On this episode of the Independent Business podcast, LinkedIn branding expert and coach Lakrisha Davis joins us to share LinkedIn business strategies for building a six-figure business.
Lakrisha was able to achieve significant business growth using only one social media platform: LinkedIn. How’s that for impressive? She’s sharing her branding expertise with the audience to help listeners gain more visibility, leads, and sales using LinkedIn. Leverage her pro tips and stop leaving money on the table. Read more here…
30 Useful Tools for Small Businesses (organized by category)
Having spent nearly two decades guiding over 60,000 individuals on the path to their richest lives, I understand that running a successful small business is one vital part of that journey.
Today, I’m sharing a curated list of 30 tried and tested tools for small business owners, from productivity and project management to marketing and finance. These solutions can empower you to save time, increase efficiency, and potentially reduce operational costs. Read more here…
Hey, friends, we could use your help to grow The Hub - Main Street Weekly, and bring it to more people so we can continue to serve you and others. If you like something we shared this week, please share it on X (formerly known as Twitter) or LinkedIn and tag us when you do. Let’s get people talking.
In the BIG Guys Corner … (middle market and above)
AT&T and Verizon Subscribers Seek to Reverse T-Mobile’s $26 Billion Merger with Sprint
In a significant legal development, T-Mobile US is now confronting a private antitrust lawsuit following its $26 billion acquisition of rival Sprint. U.S. District Judge Thomas Durkin issued his 41-page Memorandum Opinion and Order allowing the case to move forward on November 3, 2023. Per Judge Durkin, “Because the Court finds that Plaintiffs have acted with reasonable diligence in bringing this suit, the Court leaves for another time the issue of the prejudice that would result from divestiture.“
This lawsuit, initiated by subscribers of AT&T and Verizon, alleges that T-Mobile’s merger with Sprint has led to a decrease in competition, subsequently burdening consumers with higher costs for wireless services. The implications of this legal battle extend beyond the courtroom, as they could significantly impact subscribers and the future of subscription-based services in the wireless industry. Read more here…
Hilton Grand Vacations Seeks $1.5 Billion Merger With Bluegreen Vacations in Timeshare Mashup
Hilton Grand Vacations has offered to acquire Bluegreen Vacations, two publicly held vacation ownership companies said on Monday.
Hilton Grand Vacations, which was spun off from Hilton in 2017, will offer $75 a share in an all-cash transaction. It says the total value represents about $1.5 billion, including net debt.
The goal of the merger is to create a more competitive position in the vacation ownership and experiences sector. Read more here…
Enjoyed this edition? Don’t keep it to yourself. Share with your friends so they can enjoy it too.
In the Sosh … who to follow this week
Nicholas Rodriguez
Nicholas Rodriguez is a seasoned, strategic practitioner who is "service-oriented and provides simple answers to complicated issues." Nicholas has over 20 years of experience leading and negotiating sophisticated cross-border transactions in the U.S., Latin America, Europe, and Asia.
Connect on LinkedIn.
Anand Sanw
CEO and Co-Founder - CB Insights
Connect on LinkedIn or cbinsights.com/newsletter.
In the calendar …
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...
ACG Charlotte’s Deal Crawl - NOVEMBER 15-16, 2023 - CHARLOTTE, NC
ACG Charlotte’s Deal Crawl is back for our 10th year this November! Expect exciting new changes, making this year the best yet.
This premier conference will once again highlight the strength of Charlotte’s M&A community and provide a meaningful networking and content-driven experience to all Deal Crawl attendees. On November 15, kick things off with an evening networking reception at Bank of America Stadium, home of the Carolina Panthers and the Charlotte Football Club. On November 16, participate in a full day of conference activities including networking events, engaging content sessions and 1-on-1 meetings (all attendees will be able to preschedule meetings ahead of the conference using our scheduling software). Check it out…
M&A South 2024 - February 5 - 7, 2024 - Alpharetta, GA
M&A SOUTH is the premier networking event in the South for participants in all facets of corporate growth and Middle Market deal-making.
This LIVE event presents the opportunity for intermediaries, corporate development officers, accountants, lawyers, senior lenders, and other deal makers to meet and greet with top private equity and mezzanine capital providers. Check it out…
2024 Spring Conference & Deal Market - MAY 13 - 15, 2024 - Louisville KY
Presented by MASource.org. Check it out.
Stanford Graduate School of Business Executive Education 14 – 19 Jul 2024 - Stanford, CA
Through a dynamic mix of lectures, case studies, class discussions, hands-on learning, and visits from guest speakers, this program provides critical insights and powerful tools for the successful formulation and execution of an M&A strategy — one that creates true value for your organization. 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. Check it out…
2024 WOMEN IN M&A SUMMIT - OCTOBER 7-8, 2024 - BOSTON, MA
The Kayo Women’s M&A Summit unites 300 women leaders in mergers & acquisitions, private equity deal-making and capital markets. Over the course of two days, attendees can expect to generate deal opportunities through peer-to-peer networking, educational content, and a supportive community atmosphere in the private equity hub of Boston. Check it out…
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