I acquired my first business a little over two years ago. Since then, I have automated the processes of the business enough that I can now spend 20hrs a week on it - mostly focusing on sales/marketing and cash management (this is a capital intense biz).

I am now considering a second acquisition - roll-up/add-ons seem not to be an option currently as the broader industry the platform operates in is depressed. and the owners I have approached are not interested in selling at this time. As such, I am looking to acquire another company in an unrelated industry.

Wondering if anyone on the platform has gone through this and how they thought about diversifying their operating companies? Did you feel "ready" for the second acquisition?