Episodes
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• Understanding the Waterfall - Thu Nov 21 - https://bit.ly/4ftXfl8
Carley Mitus bought a home inspection business doing $380k SDE that runs leans & requires only 10 hours per week.Topics in Carley’s interview:
Her goal to retire at 35Partnering to do a search (maybe too quickly)Building relationships with brokersBuying a home inspection businessRocky transition to ownershipTaking existing clients to dinner (25+ times)Getting referrals from real estate officesHow they keep great inspectorsTricky relationship with the sellerEarning the respect of their older colleaguesReferences and how to contact Carley:
InstagramInsight Home Inspection ServicesGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
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• Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3AMj6Fk
Francisco Del Rio & Diego Silva are 5 acquisitions into a venture to consolidate veterinary practices in Chile & beyond.Topics in Francisco & Diego’s interview:
Vetting each other before partneringTeaming up to roll up vet clinics in ChilePitching themselves to clinic ownersSearching during strict Covid lockdownsEducating owners about business valuationUnderstanding the seller’s perspectiveMaking variable compensation workTeaching receptionists to use sales scriptsFinding investors and growing the businessVision to expand to neighboring countriesReferences and how to contact Francisco & Diego:
Diego Silva [email protected] del Rio LinkedIn [email protected] Latam VetGet a complimentary IT audit of your target business:
Email Nick Akers at [email protected], and tell him you’re a searcherLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
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Where Searchers Go Wrong - Thu Nov 14 - https://bit.ly/3O0im2aLegal Office Hours: Understanding the Waterfall - Thu Nov 21 - https://bit.ly/3O3zqo2Sam Rosati & partners built the Sunbelt's largest commercial fencing contractor in 3 years. But the origins were modest.
Topics in Sam’s interview:
His background in accounting and lawBeing inspired by Chenmark and Brent BeshoreAcquiring Alpha Dumpsters with his brotherBirth of SMBashOrigin story of SMB LawHow an independent sponsor differs from a self-funded searcherInvesting in a commercial fencing businessThe role of luck in successAcquiring and consolidating fence businesses Partnering with private equityReferences and how to contact Sam:
LinkedInTwitterSMBootcampChandler Reed on Acquiring Minds: Boom, Bust, Boom: Buying a Whiplash BusinessJohn Hubbard on Acquiring Minds: Why Buy a Small Manufacturing Business? and Time to Sell? Growing EBITDA from $750k to $2mGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
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Where Searchers Go Wrong - Thu Nov. 14 - https://bit.ly/40HZtZKLegal Office Hours: Understanding the Waterfall - Thu Nov 24 - https://bit.ly/4hEzVThThe story behind "Rick & Royce", who've probably done more to grow entrepreneurship through acquisition than anyone.
Topics in Rick and Royce’s interview:
How they met in academiaGrowth of their ETA class at HarvardUnexpected success of their bookSatisfaction of changing students’ livesThoughts on their sons searching for businessesPartner/family perspectives on searchValue of learning about failed acquisitionsHow attitudes about small business have transformedUsing their podcast to educate about small businessThoughts on pursuing wealthReferences and how to contact Rick and Royce:
The book: HBR Guide to Buying a Small BusinessThe podcast: Think Big, Buy SmallGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamGet a complimentary IT audit of your target business:
Email Nick Akers at [email protected], and tell him you’re a searcherLearn 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 -
When he realized he was willing to do the work himself, Matthew Railla bought a $500k SDE termite inspection business.
Topics in Matt’s interview:
His family’s culture of entrepreneurshipHis background running a wineryBecoming a business brokerBuying his own listingBuying a tough-to-sell business Getting an SBA loan using the new partial buyout rulesCrawling under houses himself to learn the tradeSeller agreeing to teach him for 2 yearsThe 3 branches of pest controlHis plan to expand the businessReferences and how to contact Matt:
[email protected]://www.toptermiteco.comLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Iris Levine bought a 30-year-old construction firm just steps from the rough Nashville neighborhood where she grew up.
Topics in Iris’s interview:
Working 3 jobs to pay for collegeBackground in high-growth startupsForming her own acquisition mastermind groupFinding an unlisted business through a brokerBuying a porch construction companyPutting 5% down without outside investorsChoosing to forego a quality of earningsAdding technology for project managementMotivation to find work-life flexibilityPossibility of expanding their offeringsReferences and how to contact Iris:
LinkedInEpisode #233 with Alan LochridgeWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsGet a complimentary IT audit of your target business:
Email Nick Akers at [email protected], and tell him you’re a searcherConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinar:
How to Run a 2-Year Search in 2 Months - Nov 1 - https://bit.ly/48sjkh9
Seattle-based Dan Drake & his wife wanted to raise their kids in Bend, Oregon. Buying a business allowed them to do it.Topics in Dan’s interview:
His search in Bend, OregonUnderstanding negotiation tacticsBundling the real estate with the businessHis seller-financed dealRenegotiating after sales dipped 20%Pros and cons of having experienced staffExplaining balloon paymentsGiving back to Central OregonMeeting with top customers to understand their needsImproving inventory management and websiteReferences and how to contact Dan:
LinkedInIndustrial Applied ElectricNegotiate Without Fear by Dr. Victoria MedvecGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinar:
How to Run a 2-Year Search in 2 Months - Friday, Nov 1 - https://bit.ly/3YEN9YE
When, at age 29, Gat Caperton bought a furniture maker in his native West Virginia, he was also buying himself a career.Topics in Gat’s interview:
Working for the legendary Sam ZellAcquiring a furniture manufacturer in 1996You’re better off with smart competitors than dumb competitorsCutting his lead time in half the first yearImplementing lean manufacturingOwning the business with his dadChina devastated US furniture manufacturingJoining John Bassett to sue China for breaking trade lawsThe evolution of “Made in America”How to evaluate a furniture manufacturerReferences and how to contact Gat:
LinkedInGat CreekFactory Man by Beth MacyThe Goal by Eliyahu Goldratt and Jeff CoxWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet a complimentary IT audit of your target business:
Email Nick Akers at [email protected], and tell him you’re a searcherGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3UihUQGHow to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/3UfYJqzNik Hulewsky bought a $3.2m medical billing company during peak Covid, anticipating a surge in demand. He was right.
Topics in Nik’s interview:
Tragedy that ignited his passion for hospiceLosing his job while his wife was in laborSearching for a business to fit his skillsetIndustry is more important than businessMargins in home healthCalculating return on brain damageLearning firsthand about the J curveImportance of relationship with the sellerBeing in business with his brother-in-lawAdvice for young entrepreneursReferences and how to contact Nik:
TwitterCofounders.comNikonomicsGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsGet a complimentary IT audit of your target business:
Email Nick Akers at [email protected] (and tell him you’re a searcher)Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/4dR5CWqHow to Run a 2-Year Search in 2 Months - Friday Nov 1 - https://bit.ly/4dQifknKristiana Laugen left tech to buy a 40-year-old pool business with $300k SDE. Fast growth from a small base is the plan.
Topics in Kristiana’s interview:
Her career working for start-upsHer desire to “eat what she kills”Finding a business sooner than expectedAcquiring a commercial pool maintenance/repair businessHow commercial pool maintenance differs from residentialQuickly firing all but one technicianMaking changes in the first 90 daysSeller retained 5% equityUsing an app for routing efficiencyThe numbers game of hiringReferences and how to contact Kristiana:
[email protected] Pools, Spas & FountainsGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamLearn 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 -
Register for the webinar:
Cap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zTykbcTech industry vet Eric Bauer wanted to build something for himself. Buying a hat brand across the country was the path.
Topics in Eric’s interview:
Skills he acquired during 10 years at AmazonMoving from Seattle to Alabama to buy a businessRed flags in business listingsComparing BizBuySell and Axial for business searchAcquiring a hat distributorSolving problems with hat sizingLearning how to motivate his staffHiring difficultiesInventory management complexitiesSelf-confidence as a business ownerReferences and how to contact Eric:
[email protected]Get a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/4h3R74oCap Tables 101: How Capital Structure Works When Buying a Business - Thu Oct 24 - https://bit.ly/3zT8sMAJustin Willess liquidated his 401k to buy a $8.5m construction business. He lost the business and may lose his house.
Topics in Justin’s interview:
Frustration with his consulting careerBuying a construction companyConstruction landscape in Northern VirginiaDiscovering cooked books after transitionSeller refused to release promised fundsEmptying his 401k to make payrollCalm is contagiousClosing the businessWhat he learned from the failed acquisitionWhy he wants to acquire againReferences and how to contact Justin:
[email protected]Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
https://www.malaunchpad.com & enter code ACQUIRINGMINDSLearn 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 -
Register for the webinars:
Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/3TYdVZ8Due Diligence Office Hours - Wed Oct 16 - https://bit.ly/3BznZl0
As a banker Greg Bruns dealt with business owners, wanting what they had. When a friend bought a business, he saw a way.Topics in Greg’s interview:
Leaving his banking career to buy a businessBig risks of doing an asset saleHow ownership is different than expectedRisks and benefits to buying smallWhy erosion control matters to infrastructureBeing tied to the construction industryManaging cashflow in a project-based businessHow weather affects his bottom lineInvolving his employees in business decisionsThe good/bad of keeping the seller in the businessReferences and how to contact Greg:
[email protected] HydromulchLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
https://www.malaunchpad.com & enter code ACQUIRINGMINDSWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/47TzaBcMarc Nzojibwami and 2 partners bought a business in Calgary, with a plan to keep buying (and without investor capital).
Topics in Marc’s interview:
Early attempts at launching companies in universityAcquiring with 2 partnersTheir plan to build a holdco togetherAcquiring a 40 year old sign shopFinancing their deal in CanadaNegotiating purchase price and seller noteOne change they made immediatelyGrowing EBITDA 30% the first yearChallenges and benefits of partnershipsSearching full-time for his next acquisitionReferences and how to contact Marc:
[email protected] Imaging GroupGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Which Business Should You Buy? - Thu Oct 10 - https://bit.ly/4gQqKP5
Taylor Wallace & Tyler O'Connor return to discuss selling to private equity & the painful reality of managing people.Topics in Taylor’s interview:
Evaluating the risk/reward of selling to private equitySelling to private equity but not exitingGood PE vs. bad PETransition to a corporate structureComparing outcomes with tech startupsReferences and how to contact Taylor:
TwitterLinkedInTaylor Wallace’s original Acquiring Minds interview: Buying Doggy Daycares After 10 Years in TechTopics in Tyler’s interview:
Comparing his military service with business ownershipUnexpected hospitality aspect of the businessBeing both CEO and the sales departmentDelegating more to his general managerWorking capital in a seasonal businessReferences and how to contact Tyler:
Tyler O’Connor’s original Acquiring Minds interview: Using $100k to Buy a 7-Figure Dream BusinessSMBootcampBird Golf AcademyGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
https://www.malaunchpad.com & enter code ACQUIRINGMINDSWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
George Tibil & Keith Fields bought a $1.1m janitorial business with falling revenues. 9 months later, sales are up 60%.
Topics in George and Keith’s interview:
Their dissatisfaction with the corporate ladderCalling on Acquiring Minds guests for search adviceAcquiring a ServiceMaster Clean franchise locationWhat changed their minds about franchisesFiring their first employee before taking ownershipCleaning all night when business was understaffedManaging an immigrant-heavy workforceTurning the culture around40% growth without outbound salesPower of good partnershipsReferences and how to contact George and Keith:
ServiceMaster Clean BuffaloGeorge Tibil LinkedInGeorge Tibil TwitterKeith Fields on LinkedInGet 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 LabGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4dhSAAXHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3MU6hLuDustin Fusillo bought a struggling ATM parts & services business. Unhappily, the decline continued under his ownership.
Topics in Dustin’s interview:
Starting a private school in FloridaPersonal growth after divorceLosing money in 3 business venturesReaching out to successful people for adviceBacking out of a bad deal after selling his home and movingBuying a turnaround ATM businessLiquidating inventory to a competitorLearning to manage anxiety and angerImportance of an industry-specific accountantHis current role as a P&L managerReferences and how to contact Dustin:
LinkedInTwitterGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
https://www.malaunchpad.com & enter code ACQUIRINGMINDSConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Legal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4grubvDHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3zgUbJr
Corey Robinson bought 4 locations in the legacy franchise Batteries Plus. He quickly bought 8 more, growing to $10m/yr.Topics in Corey interview:
Leaving the security of his corporate jobWhat he likes about Batteries PlusBuying an expansion location for $100k cashChanging the culture at one locationRemotely managing Texan teams from IowaAn HVAC acquisition that went poorlyWhat he learned about making big changesOperating an independent business compared to a franchiseThe toll it took to spread himself over multiple industriesHis current role as an investor in small business acquisitionsReferences and how to contact Corey:
Webinar cited in the intro: How (and Why) to Choose a Franchise as an Acquisition EntrepreneurLinkedInInstagramBatteries PlusBrian Beers Acquiring Minds interviewWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryGet 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 -
Register for the webinars:
Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/3B2oF29How Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4e4FWpVLegal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/4emLEn1How to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3ZrbCl1It was a revelation when Brittney Orellano heard about buying businesses. 6 months later, she'd done it herself.
Topics in Brittney’s interview:
Running a property management business while acquiringWinning over the employees after transitionUnexpected costs of maintaining equipmentCashflow problems led to layoffs in off-seasonGetting used to project-based revenuePutting an extra out-of-pocket $30k into the businessUsing local service ads on Google through slow seasonBeing inspired by Codie Sanchez and Tommy MelloComparing startups with acquired businessesOwning and operating a business with her husbandReferences and how to contact Brittney:
[email protected] MelloCodie SanchezLearn more about Walker Deibel's done-with-you buy-side advisory:
The Acquisition LabGet a complementary pre-acquisition HR & PEO review for your target business:
Contact [email protected] or visit Aspen HRWork with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:
Matthias Smith of Pioneer Capital AdvisoryConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter -
Register for the webinars:
Due Diligence Office Hours - Thu Sept 19 - https://bit.ly/4d27MSAHow Much to Budget for a Self-Funded Search - Fri Sept 20 - https://bit.ly/4gk4XPHLegal Office Hours (Deal Structure & Its Tax Implications) - Thu Sept 26 - https://bit.ly/3zl0H1wHow to Hire an Operator to Replace Yourself - Fri Sept 27 - https://bit.ly/3TuzvEGRory Tyer bought the nursery where he'd been a loyal customer. Today it generates not just cash for him, but peace.
Topics in Rory’s interview:
Searching by driving aroundAdvantage of buying in a high-growth areaBuying a business his kids would be proud ofGetting a “screaming deal” on a garden centerNegotiating an unlisted dealExplaining deal structure to a sellerChallenges of staffing a business with seasonalityDecision to stay closed on SundaysInsurance costs tripling after acquisitionGardening as the antidote to screen fatigueReferences and how to contact Rory:
[email protected] South Pleasantburg NurseryGet a free review of your books & financial ops from System Six (a $500 value):
Book a call with Tim or email [email protected] and mention Acquiring MindsGet $200 off your ticket to the M&A Launchpad Conference in Chicago on October 26th:
https://www.malaunchpad.com & enter code ACQUIRINGMINDSGet complimentary due diligence on your acquisition's insurance & benefits program:
Oberle Risk Strategies - Search Fund TeamConnect with Acquiring Minds:
See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on Twitter - Show more
