In this video, I talk about the things I learned from buying and selling a 7 figure food distribution business. The sale was a distressed situation and I had to make a lot of sacrifices, but I learned a lot in the process.
93 episodes in I am still trying to get the audio right.
00:33 Mike's Origin Story - the push to Acquisition Entrepreneur
02:05 What type of investors backed him
02:55 The Offer from the FO
05:03 Sacrifices to be Acquisition Entrepreneur
07:17 Did seller present a factual distressed situation or were they being unscrupulous
09:09 Sharks circling
10:51 Losing accounts
12:17 What happens to business when seller is loses passion
13:00 Sweaty Startup Twitter
13:32 Due Diligence - how he should have structured the deal
15:39 When 80% of revenue from 20% of customers - RISK
16:44 Reality sets in - TRIAGE & Recap Time - Pivoting
19:18 Where did the new idea, to save the company, come from?
21:43 How long to turn around plan take?
22:57 What did end goal margins, ROI look like?
24:01 What food products did you focus on?
25:34 Scrapping and Clawing back to profitability
26:33 The sacrifice and transformation
27:25 2 Acquisitions and Selling the Business
29:20 Selling to a Strategic
31:33 What was nature of relationship with FO?
32:10 New Role: Investment Banker Restructuring Learning from Stupidity
34:00 Did you think about quitting - what to tell yourself
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