Leading a service business remotely

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October 19, 2020

by a searcher from Miami University of Ohio in Barcelona, Spain

I have mainly worked acquiring smaller digital assets which are easier to manage remotely. However with the market getting quite saturated lately and deals going for over ask I am considering some new markets.

Does anyone have experience acquiring and managing "traditional businesses" Electrical installation, HVAC, home automation, Roll-off rentals. My intention is to install a leader of each company locally, however I will still be overseeing much of the finance, marketing, and management remotely. Anyone with experience to discuss best practices, pitfalls to watch out for, recommendations.

Thanks

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Reply by a searcher
from Pepperdine University in Boise, ID, USA
We are on similar paths. Multiples on e-com deals are a little crazy lately and I am switiching gears to acquirie service business, where I hire a GM/Ops person to manage the DTD. However, I am taking on a partner to be there physically for the first 6 months and train the GM/Ops hire.
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Reply by a searcher
from Pepperdine University in Boise, ID, USA
My partner has corporate management and an operational background, but not directly applicable to the service businesses we are targeting. I'm not opposed to slicing off equity for a GM/Ops person, but when it comes to partners, I'm very particuliar and don't want to back into that partnership with a person who has more applicable experience, but isn't someone I know as well. Make sense?
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