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Partnering with an Operator to Buy a Business | Landon Mance Interview
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Regular watchers of Acquiring Minds know that hiring an operator for a business you bought is easier said than done. Operating itself is hard — you hear that from my guests all the time. So finding someone capable to do it on your behalf, who is aligned with you and as motivated as you, is harder still. But today's guest Landon Mance is doing it with a $1.7m tree business he bought earlier this year. Landon's approach is a template for how you might find an operator, bring them into your deal as a partner, and work alongside them through the transition & beyond.
Chapters:
00:00:00. Landon’s background in finance
00:07:35. Landon crosses paths with a business criminal
00:11:51. Needing an operator
00:19:37. Why he didn’t buy an accounting practice
00:21:58.What he liked about Nevada Tree
00:27:10. Why the margins were so high at acquisition
00:31:47. Negotiating purchase price with sellers
00:36:05. Buying with an operator
00:41:01. Structure of the deal
00:54:48. Making an offer on the second Zoom call
00:58:54. His operator’s equity stake in the company
01:07:31. The first 90 days of ownership
01:18:09. How his operator learned the business
01:23:33. His involvement in the business
01:25:23. His plan for the future of the business
CONNECT with the Acquiring Minds podcast, socials, etc.
ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.
#business #acquisitions #entrepreneur
Chapters:
00:00:00. Landon’s background in finance
00:07:35. Landon crosses paths with a business criminal
00:11:51. Needing an operator
00:19:37. Why he didn’t buy an accounting practice
00:21:58.What he liked about Nevada Tree
00:27:10. Why the margins were so high at acquisition
00:31:47. Negotiating purchase price with sellers
00:36:05. Buying with an operator
00:41:01. Structure of the deal
00:54:48. Making an offer on the second Zoom call
00:58:54. His operator’s equity stake in the company
01:07:31. The first 90 days of ownership
01:18:09. How his operator learned the business
01:23:33. His involvement in the business
01:25:23. His plan for the future of the business
CONNECT with the Acquiring Minds podcast, socials, etc.
ABOUT Acquiring Minds
Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week.
#business #acquisitions #entrepreneur
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