Scott Duncan endured brutal ups & downs — and personal depression — during his ownership of a doomed tool & die business

Register for the webinar:

• How to Model an Investor-Backed Search Acquisition - TODAY! - https://bit.ly/3XysjZB

Topics in Scott’s interview:

• Wishing he had listened to his gut
• The risk of EBITDA (vs. revenue) concentration
• Managing highly skilled primadonnas
• Employee theft
• Losing key employees
• Long sales cycles and fixed quotes
• Forced Covid shutdown
• Razor and blade business model
• Facing aggressive creditors
• Filing Chapter 7

References and how to contact Scott:

• LinkedIn

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact mark@aspenhr.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
Produced by Pam Cameron

Andy Rougeot launched remote territories of the blue collar business he bought, which led to $1.7m of EBITDA and an exit

Register for the webinars:

• How to Invest In SMBs (Without Buying One Yourself) - TOMORROW!! - https://bit.ly/4rBI4Nb
• How to Model an Investor-Backed Search Acquisition - Dec 11th - https://bit.ly/4owBkNW

Topics in Andy’s interview:

• His experience as an Army intelligence officer
• When in doubt, do the dirtiest job
• The military concept of “left seat, right seat” training
• Searching from the public library
• Veterans are well-suited to blue-collar leadership
• Rewards of leading young men
• Gaining warm leads in new markets
• His team’s competitive edge
• Exiting his business to run for mayor of Denver
• Investing in self-funded searchers

References and how to contact Andy:

• LinkedIn
• Search Fund Secondaries Group
• Andy’s webinar: Liquidity Options for Search Investors

Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

• Pioneer Capital Advisory

Get a complimentary IT audit of your target business:

• Email Nick Akers at nick@inzotechnologies.com, and tell him you’re a searcher

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
Produced by Pam Cameron

Steve Carroll started as an SBA searcher before pivoting to a PE-backed roll-up. It's gone better than he ever expected.

Register for the webinars:

• How to Run the SBA Deal Race - TODAY!! - https://bit.ly/3Xh3WQb
• How to Invest In SMBs (Without Buying One Yourself) - Dec 9th - https://bit.ly/44Gylv1

Topics in Steve’s interview:

• Experience working for WalMart corporate
• Searching while working full time
• Myth of passive income
• Large dead deal costs from a failed acquisition
• Partnering with his childhood friend
• Underestimating working capital needs
• 100-hour weeks away from his family
• Rapidly scaling through M&A
• Beware owners who leave quickly
• Achieving $1 billion in revenue in 5 years

References and how to contact Steve:

• LinkedIn
• Kelso Industries

Download the New CEO’s Guide to Human Resources from Aspen HR:

• From this page or contact mark@aspenhr.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

Learn more about Walker Deibel's done-with-you buy-side advisory:

• 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
Produced by Pam Cameron