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  • [G&A] Growth & Acquisitions: Mike Michalowicz; Keeping talented staff post Acquisition; ChatGPT for Growth; Innovation = Success; Politics Hits M&A; +++

[G&A] Growth & Acquisitions: Mike Michalowicz; Keeping talented staff post Acquisition; ChatGPT for Growth; Innovation = Success; Politics Hits M&A; +++

M&A + AI + Growth - We've Curated What’s Most Pertinent When You Want To Grow, Scale, Buy Or Sell Your First Or Your Next Business.

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In the News

In the last two decades, the startup world has witnessed a steady climb in acquisitions. These acquisitions have emerged as the primary channel through which ventures successfully exit. It’s no surprise, given that acquisitions offer acquiring companies access to a new source of technological innovation, fresh talent, and increased market power. Among the most prized assets of many startup companies is their human capital, often serving as the driving force behind their innovation and success. Read more here…

The antitrust agencies responsible for reviewing proposed mergers and acquisitions to assess their impact on competition released their updated “Merger Guidelines” just before Christmas.

Not surprisingly, the guidelines reflect the current administration’s preference for increasingly stringent reviews across industries. Within the defense and broader government contracting market, this increased scrutiny has resulted in several contentious reviews and government suits to block proposed transactions involving numerous major defense firms. Read more here…

This is the era of artificial intelligence and ChatGPT is emerging as one of the leading AI products across the world. ChatGPT has received a lot of attention recently as it is helping people to get things done faster in a more productive way. 

From businesses to individuals, everyone is using ChatGPT for different tasks like handling customers' questions, coding, and even writing emails. However, many small businesses are not aware of its full potential. Read more here…

Innovation is essential for driving organisations of all sizes forwards, but the demands of entrepreneurship mean it often gets overlooked. Here’s why innovation should be a priority for entrepreneurs, and how to make time and space for it in your small business. Innovation is a buzzword you’ll hear everywhere, and for good reason. It’s what business growth, and ultimate survival, is based on – you can’t solve new problems with old solutions.

Many founders fall into the trap of thinking innovation is reserved for big companies with whole teams dedicated to generating new ideas – but it doesn’t have to be groundbreaking to be significant. Read more here…

As 2024 begins, goals and resolutions are top of mind. According to a recent report by Intuit QuickBooks, the top priority among business owners is to increase revenue, above getting financing or launching new products or services.

Increasing revenue is no easy feat, but entrepreneurs can employ a variety of strategies to help achieve growth in 2024. Even if some macroeconomic pressures like inflation and interest rates may ease this year, they are likely a continued concern for businesses. By looking for new ways to modernize and improve business processes, entrepreneurs can be better positioned to power momentum in 2024 and beyond, even in ever-changing economic conditions. Read more here…

Over the years, there has been a lot of debate pertaining to when sales and marketing platforms would eventually converge. Though it seems like a natural progression, sales technology providers vocalized to me in the past that they were not interested in expanding into marketing use cases. Salesloft’s acquisition of Drift is the first signal that providers may be changing their tune. While conversation automation solutions such as Drift have been focused on supporting marketing, generative AI has opened a door for sales to leverage this technology for some interesting use cases that add value for customers and better support the buyer journey. Here are a few of those sales-related use cases for conversation automation Read more here…

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The Short Take:

Insights from Adam Coffey, a three-time best-selling author and a seasoned expert in private equity, focuses on the mechanisms of raising capital for startups and executing profitable business acquisitions.

Key Takeaways:

  1. Leveraging Private Equity: Coffey outlines strategies for raising millions in capital without initial personal investment, illustrating the potential of private equity in facilitating business growth and acquisitions.

  2. Navigating Ownership and Capital: Discussions around the nuances of ownership, capital acquisition, and the strategic use of debt instruments like SBA loans provide a nuanced view of funding strategies for acquisitions.

The Short Take:

The conversation is geared towards business owners contemplating the sale of their businesses in 2024, providing a timely perspective on preparing for such a significant transition. The discussion emphasizes viewing a business as an asset that should increase in value over time, ultimately leading to a profitable sale.

Key Takeaways:

  1. View Your Business as an Asset: It’s essential to perceive your business not just as a venture but as an asset that can appreciate over time and eventually be sold for profit.

  2. Early Preparation is Crucial: Begin preparing your business for sale well in advance, ideally 5–10 years before you plan to sell. This foresight allows for strategic improvements and positioning.

The Short Take:

The conversation delves into the critical aspects of selling a contracting business, particularly focusing on the challenges faced by small-scale operators, often referred to colloquially as “Chuck in a truck”

Key Takeaways:

  1. Sellability of Small Contracting Businesses: The core message is the necessity for these businesses to think beyond daily operations towards building a business with tangible assets and profitability.

  2. Profitability and Asset Accumulation: The discussion underscores the importance of focusing on profitability and the accumulation of assets as critical factors for making a business attractive to potential buyers.

The Short Take:

Toby Mathis sits down with Mike Michalowicz, the celebrated author of “Profit First” and several other influential books aimed at revolutionizing how entrepreneurs approach business growth and financial management.

Key Takeaways:

  1. Entrepreneurial Mindset: Michalowicz emphasizes the importance of adopting a mindset that prioritizes profit from the outset, challenging conventional business models that focus on revenue growth at the expense of profitability.

  2. ‘All In’ Strategies: The discussion delves into the core principles of Michalowicz’s new book, “All In,” highlighting how entrepreneurs can leverage these strategies to not just survive but thrive in competitive markets.

Short Take:

Clint Fiore, the founder of Bison Business and an influential figure in the realm of business acquisitions. Fiore shares his journey from early entrepreneurial ventures to establishing a full-service brokerage, touching on the highs and lows of navigating the business acquisition landscape.

  1. Clint Fiore's personal narrative exemplifies the transformative potential of entrepreneurship and the journey from a hands-on family business to tech startups and eventually business brokerage.

  2. The business acquisition space is rife with learning opportunities, and success often hinges on the ability to discern patterns and hidden value in diverse businesses.

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Founding Member Shout-Out

Shout out to our new founding member, with over 30 years in M&A, this company offers a Resource Center helping you buy good businesses. Very underpriced - get it now before they finish upgrading the site and very likely up the pricing. 

In the Knowledge 

The information in the following articles is important for any business, particularly for new acquisitions. Add them to your Knowledge Bank.

If you own a business, there’s a good chance you’d like to grow it. After all, growth leads to new, exciting opportunities and greater profits. Fortunately, with some time and effort, you can scale your startup or small business and meet your goals. This handy guide on how to grow your business is bound to steer you in the right direction and set you up for success. Read more here…

Hey, friends, we could use your help to grow “Growth & Acquisitions” and bring it to more people so we can continue to serve you and others. If you like something we shared this week, please share it on X (formerly known as Twitter) or LinkedIn and tag us when you do. Let’s get people talking.

In the BIG Guys Corner … (middle market and above) 

The completion of Occidental Petroleum's $12 billion acquisition of shale oil and gas company CrownRock has been delayed after the US competition watchdog requested more information from the pair.

Occidental said in its third quarter conference call on Thursday that the Federal Trade Commission (FTC) wanted more information related to the acquisition, which will give Oxy a major boost to its portfolio of assets in the Permian basin, the most prolific shale producing play in the US. Read more here…

February 16, 2024 - Blue Cross Blue Shield Louisiana (BCBSLA) announced that it will not move forward with plans to be acquired by Elevance Health.

“We continue to hear from our stakeholders that they want Blue Cross and Blue Shield of Louisiana to remain their trusted partner in their healthcare journey, and we pursued this transaction to help us do exactly that - by changing for the better. However, it is clear that our stakeholders need more time and information to understand the benefits of the changes we have proposed,” a letter from the payer explained. Read more here…

Enjoyed this edition? Don’t keep it to yourself. Share with your friends so they can enjoy it too.

In the Sosh … who to follow this week

Besides hard work, education, and resilience, success requires a special mindset – an inevitable winner's mindset. And that's where Igor comes in – to guide you in cultivating that mindset.

Connect with him on LinkedIn.

In the calendar … 

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...

M&A SOUTH is the premier networking event in the South for participants in all facets of corporate growth and Middle Market deal-making. 

This LIVE event presents the opportunity for intermediaries, corporate development officers, accountants, lawyers, senior lenders, and other deal makers to meet and greet with top private equity and mezzanine capital providers. Check it out…

MIT ETA Conference (Feb 16) - Cambridge, MA

Get ready to dive into a day full of engaging presentations and interactive sessions covering a wide range of topics such as value creation with AI, ETA to reduce the racial wealth gap, and more. Whether you're an aspiring searcher, currently in the environment, or just exploring, there's something for everyone at the ETA Conference.Wharton ETA Club (Spring 2024) - Philadelphia, PA

Presented by MASource.org. Check it out.

Capital Camp is an upcoming event scheduled for May 21-23, 2024, in Columbia, Missouri. The event is described as a gathering for "curious, kind, and thoughtful investors, capital providers, entrepreneurs, and executives" who are pushing boundaries and breaking new ground.

The event spans three days and three nights, offering serious investing conversations in a relaxed setting—think shorts and sandals rather than suits and ties. Attendees can expect interactive programming, a variety of outdoor activities, and an endless supply of food, drink, and entertainment.

The event has received high praise from past attendees, with many describing it as the most valuable and best investing conference they've ever attended. Check it out…

AI & Big Data Expo North America – Conference & Exhibition June 5-6 - SANTA CLARA CONVENTION CENTER, CA

Discovering the intelligent future through AI & Big Data. AI & Big Data Expo is the leading event for Enterprise AI, Machine Learning, Security, Ethical AI, Deep Learning, Data Ecosystems, and NLP. Check it out…

Through a dynamic mix of lectures, case studies, class discussions, hands-on learning, and visits from guest speakers, this program provides critical insights and powerful tools for the successful formulation and execution of an M&A strategy — one that creates true value for your organization. Check it out…

The Kayo Women’s M&A Summit unites 300 women leaders in mergers & acquisitions, private equity deal-making and capital markets. Over the course of two days, attendees can expect to generate deal opportunities through peer-to-peer networking, educational content, and a supportive community atmosphere in the private equity hub of Boston. Check it out…

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