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- 06:13:23 - This week in The Hub - Main Street Weekly
06:13:23 - This week in The Hub - Main Street Weekly
What you need to know about buying, growing or selling small to medium businesses. The news, the pods, the social influencers. Curated from the world of SMB (small to medium business)
We do the research and bring you what’s pertinent when you want to grow, scale, buy or sell your first or your next business.
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In the AI/News/Blogs …
As per the recent survey results from GoDaddy (NYSE: GDDY), a company renowned for supporting entrepreneurs, small business owners are beginning to realize the enormous potential of generative artificial intelligence (AI) and are starting to leverage it, despite some hesitations about optimal utilization.
The late April survey by GoDaddy, which reached out to 1,003 U.S. small businesses, found a rising need for guidance in making the most of rapidly evolving AI technology. While 38% of participants reported having experimented with generative AI tools (27% for amusement and 11% for business), a significant 62% have yet to try this technology. Over half of the respondents (57%) expressed keenness to learn how to use generative AI to enhance their business. (502 words) Read on here…
Mimecast CEO and co-founder Peter Bauer on how fostering an inclusive culture of empowerment makes all the difference during M&As.
It takes a village to build a world-class company from scratch.
Over the past two decades, I’ve learned that lesson firsthand amidst Mimecast’s journey from startup status to the global email and collaboration security pioneer it is today. While innovative products and services are critical to any company’s growth trajectory, an inclusive and values-driven culture of empowerment is what ultimately serves as the true foundation for sustained success. (1050 words) Read on here…
Want to grow your small business? Acquisitions can help you efficiently break into new markets, expand your customer base, and increase your offerings without building them yourself. It helps diversify your portfolio of products or services, which reduces risk and helps your company be more resilient to economic uncertainty. (180 words) Read on here…
Constellation Network is a decentralized network and Web3 blockchain ecosystem.
With a few strategic moves, the cofounder was able to grow the company during industry uncertainty.
The company diversified and restructured when necessary — while preparing for future growth.
This article is part of "Small Business Strong," a series highlighting the resilient work of small-business leaders to overcome barriers and reach success. (1195 words) Read on here…
In the Pods …
In this episode, our guest Chris Munn takes us on a deep dive into the world of small and medium-sized businesses (SMBs). Chris shares his insights on the SMB marketplace, demystifying the common misconceptions about it and highlighting the potential wealth-building opportunities in this often overlooked sector. He emphasizes that wealth doesn't necessarily mean becoming the next Elon Musk or Jeff Bezos; it can be as simple as owning a commercial janitorial company in Tampa, Florida. We discuss the important role of positivity in entrepreneurship and how it can inspire budding entrepreneurs to seize business opportunities. Chris addresses the pushback he often receives for his optimistic outlook, explaining that while he acknowledges the downsides and difficulties, he believes in focusing on the positive side to encourage more people to consider entrepreneurship as a viable path. [1:06:45] Tune in here…
Founded Rapid Diligence five years ago and our focus is on providing buy-side due diligence services for both online and traditional small business acquisitions. We focus on operational, technical, financial, and legal due diligence and take a holistic approach on diligence by assessing risks and opportunities. We work with buyers that are both in the search phase /pre-LOI and buyers who have an executed LOI. Ahmed discussed his experience in buying and growing e-commerce businesses while in college. He mostly bought distressed or neglected assets that he could acquire at a low multiple and then grew them. Raza also discussed how Rapid Diligence helps clients with the search process, pre-LOI negotiations, deal structuring, and more. [53:10] Tune in here…
Eric Hsu Business Acquisition Lawyer Eric helps self-funded entrepreneurs negotiate/structure/close SMB acquisition deals - Eric and Jon talk about legal red flags and what they mean. [49:07] Tune in here…
Episode 462: Sam Parr and Shaan Puri talk with Alex Hormozi, founder of GymLaunch and Acquisition.com, about what he regrets about selling his business and why he's pumped about starting a new one, how he spends his money, and his secret to a successful marriage. [1:19:42] Tune in here…
To help you understand this process, Kathryn Wallace (Practice Leader) and Nina Vanderlaan (Associate) explain:
What due diligence is;
Why undertaking due diligence is important;
hat information to review during due diligence;
Determining what information is relevant and important; and.
How to manage issues you discover. [42:26] Tune in here…
In the Knowledge
Most M&A deals fail to deliver value because they don’t focus on the workforce issues. Know the red flags, and call out people risks early.
Understanding the people issues and risks before and after a merger and acquisition (M&A) deal often comes second to evaluating an asset’s potential for value and growth. According to our research, the driver of deal shortfalls in 47% of M&A deals is inadequate focus on workforce issues throughout the deal process. (787 words) Learn on here…
35 Additional Ways To Finance Your Business | How To Buy A Business | Gordon Bizar. Gordon Bizar of Bizar Financing is an entrepreneur and business coach. He is the world's leading expert in the business acquisition space. Over the years, Gordon Bizar has taught hundreds of thousands of people strategic approaches to generating wealth by teaching them how to buy businesses using none of their own money or other people's money. [1:19:38] Listen and learn here…
As the prevalence of personal injury lawsuits grows nationally, what does this mean for small business owners? How can you be proactive as a business owner, plan ahead for the potential of accidents, and create a safe work environment? Careful planning and training can go a long way. (842 words) Learn on here…
A well-planned advertising campaign can elevate your small business, increasing sales, customer engagement, and growth. But how do you set one up?
In this small business advertising guide, you’ll discover how advertising can help your business and read a step-by-step guide to designing your advertisement campaign. We will also show you how to define clear goals, understand your target audience, select optimal advertising channels, craft compelling messages, and measure your success. (5874 words) Learn on here…
Minority-owned businesses make up about half of all the new businesses created in the last decade. They’ve helped create nearly five million new jobs and generate close to $700 billion but still face significant financial challenges.
Small business grants for minorities provide funds to minority business owners — groups that have historically lacked fair access to business capital. Unlike small business loans, these grants don’t have to be paid back, though you will likely face a lot of competition for these funds. (3262 words) Learn on here…
In the BIG Guys Corner … (middle market and above)
Global Indemnity Group, LLC has announced that in recent days, multiple parties indicated a preliminary interest in exploring an acquisition of or merger with Penn-America, Global Indemnity’s insurance group, or an acquisition of or merger with Global Indemnity itself.
The company is responding to certain of these preliminary indications of interest, although there is no assurance that an acceptable transaction will result from such engagement yet. (361 words) Read on here…
BERLIN, June 9 (Reuters) - German media giant Axel Springer will establish a dedicated mergers-and-acquisitions team to look at firms specialising in artificial intelligence, CEO Matthias Doepfner said in an internal podcast to employees obtained by Reuters.
The M&A competence centre "needs to entirely focus on acquisitions - early-stage acquisitions or later-stage acquisitions in AI companies - that can be, for various reasons, important or attractive for Axel Springer," Doepfner said. (257 words) Read on here…
Following the bombshell news of the PGA Tour partnering with the Saudi Arabian Public Investment Fund, Chamblee, a renowned critic of the Saudi Kingdom and LIV Golf, said Thursday that the deal will be “blocked.”
“If it’s not blocked by the player board, it will likely be blocked by the DOJ, and if not that regulatory committee, the Senate,” Chamblee tweeted. “And then the regulatory review of the EU and equivalent bodies in Asia. This is a long way from being a done deal.” (554 words) Read on here…
In the Sosh … who to follow this week
Kison Patel: CEO of M&A Science and Deal Room https://www.linkedin.com/in/kisonpatel/
Richard Patel: owner Acquire The Web Newsletter: https://acquire.beehiiv.com/p/dealflow-6-12-23
In the calendar …
The Exit Meetup is a local meet-up for like-minded business owners.
Meet others, and talk about growth and the opportunity to buy or sell. Plus, hear from a successful acquisition entrepreneur. This is an informative and entertaining meetup aiming to connect owners and investors in a fun environment. Check it out
A twice-monthly networking meeting where acquisitions entrepreneurs come together online to build teams, share ideas and resources, and help each other succeed. The first and Third Tuesday of each month. Check it out
The official “Un-Conference” of micro-PE. Where Holding Companies Meet, Learn, Scale, and Grow. Check it out
The State of Search in the U.S. Conference focuses on search fund entrepreneurs, bringing them together with investors, students, and faculty. By Rice Entrepreneurship Association. Check it out
The Booth-Kellogg ETA Conference is an annual event that brings together search fund entrepreneurs, investors, MBA students, faculty, and other participants in the ETA ecosystem to meet one another and share insights into this rapidly-growing area. The 10th Annual Booth-Kellogg ETA Conference at the Marriott Magnificent Mile | 540 Michigan Ave, Chicago, IL. Check it out
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