Acquiring Minds

Morli Desai bought an e-commerce brand with an SBA loan. Three years later: liquidation, Chapter 11, and gratitude.
Register for the webinars:
Equity Financing: From SBA Deals to Independent Sponsors - TODAY!! - https://bit.ly/4r81edB
Working Capital: What Buyers Need to Know Before Closing - Tue, Sep 22 - https://bit.ly/4gZWFxh
Topics in Morli’s interview:
Acquiring a skincare brand
Why she felt confident in the company
Early red flags she minimized
Amazon shipping disaster
Rising cost per click
8-12% customer retention rate
Unique challenges of ecommerce
Negotiating multiple loan deferrals
Stress of the personal guarantee
Filing subchapter V bankruptcy
References and how to contact Morli:
LinkedIn
Morli’s first Acquiring Minds episode: How to Buy a $4m E-com Business with an SBA Loan
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

Rob Brooks bought a $1.9m Sarasota HVAC shop, then ignored the advice to wait 90 days before changing it.
Register for the webinar: 
Equity Financing: From SBA Deals to Independent Sponsors - Thu, Sep 17 - https://bit.ly/3VqwuZu
Topics in Rob’s interview:
Choosing an industry where he had an edge
Buying smaller to reduce debt risk
Understanding prepaid customer obligations
Using ChatGPT to learn HVAC
Making changes immediately after acquisition
Inheriting a GM and long-tenured employees
Digitizing operations and increasing accountability
Transforming a blame culture into a problem-solving culture
Adding weekly employee training sessions
Practicing radical honesty with customers
References and how to contact Rob:
LinkedIn
Gary Air
Grant Hensel
Jack Carr on Acquiring Minds: Back from the Brink When Everybody Quits Day 1
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

Adam Whelchel paid himself instead of the IRS, putting $35k down on an escape room doing $365k with room to grow.
Register for the webinar: 
The Deal I Almost Bought (And Why I Passed) - TODAY!! - https://bit.ly/4hVeKik
Topics in Adam’s interview:
Built a $1.5M accounting firm
Business brokerage opened the acquisition door
Wanted a business his daughter could appreciate
An escape room caught his attention
Fixed costs created massive operating leverage
Bought the business for roughly $220K
Put about $35K into the deal
Business acquisition as a tax strategy
Re-engaged customers and local businesses
Plans to double capacity to 20%
References and how to contact Adam:
LinkedIn
Axis Accounting & Tax
Jeff Homer on Acquiring Minds: 1 Music School to $100m in Revenue
Adam’s slides 
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

Mike Bourgeois bought an HVAC company bleeding $3m a year, all cash and no SBA, then cut $1.4m of costs in 2 weeks.
Register for the webinar: 
The Deal I Almost Bought (And Why I Passed) - Thu, Sep 10 - https://bit.ly/4zKAGTN
Topics in Mike’s interview:
Led major Air Force medical practice
Found a search partner with complementary skill sets
Bet on distressed businesses with liquidation value
Found a deal through veteran ETA Slack
Speed beat the highest bid
Immediately cut $1.4M in annualized expenses
Raised gross margins from 7% to 49%
Shifted from silos to teamwork
Emphasis on ongoing staff training
His goal of being a capital allocator/investor
References and how to contact Mike:
LinkedIn
Cardinal Heating & Air
Book: The Compounders: From Small Acquisitions to Giant Shareholder Returns
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

Sujith Shankar left 25 years in corporate to buy cash-flowing businesses: a $1.2m repair shop and a $2m body shop.
Topics in Sujith interview:
How Rivian layoffs changed everything
Falling down the Warren Buffett rabbit hole
Why auto repair beat real estate
Funding a deal without an SBA loan
Running a business while keeping a W-2
Winning over skeptical employees after closing
Planning a mini Berkshire Hathaway
Is EV adoption really a threat?
Buying a second business just months later
Collision shops vs. repair shops
References and how to contact Sujith:
LinkedIn
The Billionaire Who Wasn’t by Conor O’Clery
Edgar Galindo on Acquiring Minds: How 1 SBA Loan Brought Down 2 Businesses
Contact Jenny to learn how Engage can run people operations in your acquisition:
Jenny Thear: jthear@engagepeo.com
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