First-Timer Turns $20k into $900k in 19 Months
Acquiring Minds
English - February 08, 2024 08:00 - 1 hour - 171 MB - ★★★★★ - 168 ratingsEntrepreneurship Business Investing entrepreneurship entrepreneur online business smb acquire acquisition Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: The Model Works: Reflections of a Plumbing Business Buyer
Next Episode: Taking a Blue Collar Biz from $900k to $2.4m in Earnings
Only after taking a second look at a small wedding catering & venue business did Nick Patrick recognize an opportunity.
Topics in Nick’s interview:
Buying a business that checked only one boxGetting past major key person riskNick's fear of lacking operational experienceAcquiring without an SBA loan or investorsLearning to lead and handle conflictOperational intensity of a wedding catering businessCash flow advantages due to up-front depositsImprovements he made to the businessRealizing he won’t be able double businessSelling the business for a healthy profitReferences and how to contact Nick:
Nick's Linktree: http://linktr.ee/nick.patrickInvest Like the BestGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter