In this video, Jeff Evenson shares his story of how he acquired 5 companies (and sold) and then had to survive a business partnership breakup....Twice!

Jeff shares the lessons he learned from these experiences and offer tips on how you can avoid some of the most common mistakes made in business partnerships.

Show Notes:

00:00 Intro

00:26 Terrible Employee

01:34 First Acquisition: Hair Salon $3.5 Million in Sales

03:01 Valuation - Lofty Opinion vs. Reality - How to Solve this problem

06:56 Who took over Operations?

07:30 Was your wife 50/50 partners & Divorce

09:20 Were you happy/unhappy with sale price?

11:30 The 2 tuck-in acquisitions - Off Market Deals

16:10 Did acquisitions help multiples

18:29 Most difficult challenge in the hair business

21:07 Top 3 things Jeff would not do in next acquisition - 1 of 3 the Shootout!

24:49 How to pick Charlie Munger / Warren Buffet type partners

27:06 Buying a Precision Machine Shop Acquisition 5X Multiple with No Money

34:24 Seller Note or $12 Million Check in the Bank

38:47 Noticing Warts in the partnership - Make me an offer

41:00 Top 3 Things Don't Do 2 & 3 of 3

49:10 Coaching Veteran Business Owners

50:32 What is Lions Pride with Bill Watkins

53:13 Being comfortable with your speed or yeti