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- 08:01:23 - This week in The Hub - Main Street Weekly
08:01:23 - 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)
Gia Cilento & Ronald Skelton
December 06, 2023
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 News, Blogs, and AI …
On July 19, 2023, the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ) (collectively, the “Agencies”) issued a draft update of the Merger Guidelines (hereinafter, the “Proposed Merger Guidelines”), which President Biden forecasted in 2021 an executive order outlining goals of antitrust reform.1 As their name suggests, merger guidelines outline the framework used by the Agencies to give effect to the antitrust laws that regulate mergers. Merger guidelines do not have the force of law and courts are not obligated to follow them. Rather, they provide guidance on how the Agencies plan to enforce the law. (4,111 words) Read more here…
When two companies aim to combine, there are countless issues that can arise during the integration stage. As part of any successful merger process, a carefully crafted integration strategy should consider all the potential implications for stakeholders, suppliers, vendors, employees, and customers. It is possible for companies to successfully manage the post-merger integration process, but only if there is a plan in place aimed at minimizing any complications that might arise. (767 words) Read more here…
How do you use technology in your small business to help it operate smoothly and offer an excellent customer experience?
Technology can boost small business growth if owners use it in the right way. Recent years saw the growth of artificial intelligence (AI) and tech-driven tools geared towards improving operational efficiencies and key metrics such as profitability. (970 words) Read more here…
The results of RISMedia’s 2023 Power Broker Report made it quite clear that the most reliable way to ensure brokerage growth in 2022 was to go out and buy it. Out of the ten companies with the highest percent sales growth between 2021 and 2022, seven had at least one major merger or acquisition in that time period. Most had more than one, and all of them increased sales by at least 20% over that time period, even as 80 of the top 100 Power Brokers actually saw sales shrink. (718 words) Read more here…
In the Pods …
Jarryd Osborne shares his experience in searching for a business to buy and the challenges he faced along the way. He emphasizes the importance of building rapport with sellers, finding the right lender for financing, and conducting thorough due diligence. Jarryd also discusses his transition from searching for a business to becoming a business advisor. [51:33] Listen here…
Looking to build wealth through acquisitions? Join us in this episode as A.J. chats with Ben Kelly of Acquisition Ace @acquisitionace, a seasoned acquisition entrepreneur who shares his unconventional journey in entrepreneurship through business acquisitions. Discover the incredible business opportunity and benefits of buying an existing business, and find out if acquisition entrepreneurship is the right path for you! Don't miss out, tune in until the end and subscribe for more inspiring episodes! [36:09] Listen here…
M&A, although appealing in its inorganic accelerant of enterprise growth, involves potentially significant digital and relational pitfalls. From platform and ecosystem integrations to data consolidation and maturity elevation, systems and cultural compatibilities, cybersecurity and trust risks, competency and capabilities gaps, legacy vs. forward digital and relationship opportunities, business continuity, and regulatory compliance are just a few pitfalls for astute leaders and their teams to consider. [44:43] Listen here…
Karl Hughes bought a podcast production business that follows a "productized service" model. Karl is well versed in these types of services, being the owner of a content agency already that offers a productized service. Karl and I go deep on why productized services are appealing as businesses to own, so this conversation will open your eyes to another type of business you might consider in your search. [1:27:29] Listen here…
We're going to be discussing a plumbing deal that went viral a few weeks ago. The deal is worth $4 million and we're going to be discussing the analysis and growth strategy that was used to make the deal happen. [57:54] Listen here…
Elliott Holland is the founder of Guardian Due Diligence, a company that specializes in providing due diligence services for small and medium-sized business acquisitions. With a background in private equity and a passion for helping new buyers navigate the complex world of mergers and acquisitions, Elliott is dedicated to ensuring that his clients make informed and safe investment decisions.
He discusses the different types of due diligence, including financial, operational, and commercial, and emphasizes the need for thorough analysis before making an acquisition. Elliott also shares some interesting stories and examples of due diligence findings, highlighting the importance of looking beyond the surface to uncover potential risks and opportunities. [54:48] Listen here…
In the Knowledge
Making the decision to start a small business is no easy feat, but it’s incredibly inspiring that so many people try; in fact, on average, 4.4 million people across the U.S. open a business. And while not all of them succeed, there are a few keys to success that vastly improve their chances.
First and foremost, having the right mindset and a clear path forward are important—these improve prospective business owners’ chances of leading a career and life of fulfillment, both personally and professionally, and are key for staying grounded during challenging periods. Learn more here…
Ask any business owner and they’ll confirm – access to capital is a cornerstone for a thriving business. This article will offer you insightful guidance on how to get a small business grant. So, stay with us for more enlightening information!
This financial hurdle often drives many small enterprises to explore the avenue of government grants from federal agencies, as well as state and local governments, to access additional funds necessary for the growth and sustainability of new or existing ventures. Learn more here…
In the BIG Guys Corner … (middle market and above)
Cannabis producers Cresco Labs and Columbia Care Inc have mutually terminated their $2 billion merger announced in March last year, the companies said on Monday.
The deal was seen as a bet on a U.S. pot industry boom, and executives then said the combined entity had the potential to be a brand as big as Coca-Cola or Johnnie Walker, with the merger helping it dominate a market likely to hit $46 billion by 2026. (287 words) Read more here…
July 31 (Reuters) - New Relic (NEWR.N) said it has agreed to be taken private by TPG (TPG.O) and Francisco Partners in a $6.5 billion all-cash deal amid stiff competition in the application performance monitoring space from rival software companies Datadog and Dynatrace.
New Relic's shares rose about 13% to $83.85 on Monday following the deal involving the private equity firms. (339 words) Read more here…
In the Sosh … who to follow this week
John Warrillow
John Warrillow is the founder of The Value Builder System™, host of Built To Sell Radio, and author of the bestselling books, Built to Sell: Creating a Business That Can Thrive Without You, The Automatic Customer: Creating a Subscription Business in Any Industry, and The Art of Selling Your Business: Winning Strategies & Secret Hacks for Exiting on Top.
Connect with him on LinkedIn.
Lane (Newell) Rhodes
Lane Rhodes is a proven leader in the Banking Community with over 20 years of Financial Services experience. Solely dedicated to SBA and USDA lending since 2010 and has performed within the top 10% of the industry throughout her banking career.
Connect with her on LinkedIn.
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 annual Southeast Entrepreneurship Through Acquisition Conference is hosted by the Duke Innovation & Entrepreneurship at the Duke Fuqua School of Business, Batten Institute at the University of Virginia Darden School of Business, UNC Kenan-Flagler Business School and Georgetown University McDonough School of Business. This conference is designed to educate, encourage and equip current and recent MBA students and mid-career professionals in the Southeast US to pursue the acquisition and operation of a small or mid-sized business. Check it out…
The official “Un-Conference” of micro-PE. Where Holding Companies Meet, Learn, Scale, and Grow. Check it out
This will be an afternoon/evening mixer for SMB owners, investors, and operators. We'll be in the Hill Country of Texas with - Catered food - Live music - Pool - Fire pit - Fly in, build your network, make some IRL friends
The Self-Funded Search Conference is the first and only conference dedicated exclusively to the self-funded search model of entrepreneurship through acquisition (“ETA”) – exclusively for self-funded searchers. This annual conference is hosted by the Self-Funded Search Association (“SFSA”), a not-for-profit organization (NFPO) for individuals who are seeking to purchase a company through the self-funded path to entrepreneurship through acquisition. 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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