Acquisition Maverick
@rightpractices
On the hunt for Business Acquisition No.1 ($1mm+ raised). W2 in Corporate + SMB FP&A. Microsoft Excel Evangelist. (NFA)
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The anon profile is not a personal choice - it’s for search discretion. I’ll become “that guy” once our acquisition is completed.
“What’s your value proposition?” “Quality work and integrity.” Yeah man - that’s in every single motto/slogan/business plan. That does not distinguish you from anyone on paper or on google. What’s your ACTUAL value proposition?
I think a lot about what kind of boss/owner I am for people who work for me. When I was 16, I worked in a small local cabinet shop (maybe 10 employees total). We were working on one of the biggest jobs the company had ever done, and we’d been staying late to get everything done…
This is a double-edged sword ... A reality-check for the "live on the beach from passive income with only 10% down using other people's money" crowd. A salivating prospect of opportunity for the hard worker.
Under $500k SDE… you are shopping for a job, not a business. At that scale, it will always be a buyer’s market.
100% of all business failures are due to cash flow (or lack thereof). If you’re a business owner, and you don’t have EVERY lever of your inputs and outputs memorized, why are you willingly playing those odds? Hire a consultant, if you need to, to teach you how to track your…
Every question about revenue is a (secret) question about free cash flow.
Free. Cash. Flow. Forget EBITDA, forget SDE (especially).
Many times, a broker will add back the sellers salary without burdening the P&L for their replacement. In my case, the banker added back both seller’s salaries. One was staying with the business, and the other needed to be replaced. This set up the sellers for an inflated EBITDA,…
Small businesses don’t scale because their founder is a Technician who builds cabinets really well. Or makes a terrific tamale. Or diagnoses computer problems with incredible precision and speed. The problem isn’t that they aren’t good managers, or even that they’re not…
All businesses fail because they run out of cash. Operators need to run their business niche insanely well and need to memorize their drivers of cash flow. Forget the other finance metrics like quick ratio and inventory turns - they do not matter until cash flow is the…
What’s one thing holding you back from completing your next goal?
Local mom-and-pop HVAC company is up for sale, list price of $500k, SDE of $225k. Stout google ratings profile, good time in business. What am I missing? Besides it being SDE basis and not FCF, the math pencils out.
Some people will be far more successful than I will ever be, no matter how hard I work. Part of that is who I choose to do business with. A recent consult client of mine was working on a 13-week cash flow plan, based on my expense work. The SVP of Finance (on a large team…
Five year plans are a worthless exercise. Not that having quantifiable + qualitative goals are worthless (they aren’t), or that setting ambitious targets are a fools errand (they aren’t). It’s the mind boggling amount of human capital a company spends nitpicking 2029 in a…
Everything in life can be boiled down to one thing: people. All of business, medicine, art, science, fashion - it’s all people. You either serve people or you avoid them. I see a lot of accounts on X who talk about people as a nuisance or as something that gets in the way…
The best part about X is the accountability. Ten years ago, everyone could push their $499 course that taught the BRRR method of flipping houses (which takes like 30min of research to understand for yourself). Today, there’s still that “buy a business for 10% down and $0 out…
Business comes down to three things, in this order: 1. Sales 2. Product / operations 3. Free Cash Flow Everything else supports these three pillars.
“Jealousy shows where you’re lazy or afraid.” Think about that for a bit. I can’t remember where I read that quote, but it’s been simmering in the back of my mind. If you think “eh, I’m not really jealous about much” … then flip your thought process to “Whose success makes me…
Only going to get worse. The cause is AI, and the solution is nuclear.
A reminder that total consumer electricity costs are (1) the cost to make it and (2) the cost to transmit and distribute it. The cost of making electricity keeps falling but the overall costs keep rising because of (2). If you would like to get off this hamster wheel go to…
I don't think enough small business owners focus on products that are acretive margin. Many SMB operators take a core offering (say, trash routes) and try to offer something for everyone by adding Roll-off dumpsters ... and commercial clean up ... and port-a-potties ... and…
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