Lessons from Business That Didn't Sell, to Buying Shrimp Sorting Machine Mfg: A DEEPER Dive: How to Select an Advisor or Coach.
This Week On How2Exit, Chatting With two experts, one on building sellable companies and the other on finding opportunities in niche markets - DEEPER into How to Select an Advisor or Coach ---
Together with ITX M&A Marketplace - click here to sell your MSP Company (Sponsor)
Malcolm is the founder of Tsetserra Growth Partners, a company that specializes in buying family-owned small businesses with established Texas legacies. Malcolm is originally from Austin, Texas and recently returned to the area. Ronald and Malcolm discussed the changing landscape of Austin, the origin story of Malcolm's career in mergers and acquisitions, and the University of Virginia Men's Tennis program.
Malcolm had a dream to become a college tennis coach and was planning to pursue that path. However, after spending time with the team and meeting donors, he was drawn to their more balanced lives. He then got to know Dean Beardsley of the University of Virginia Darden School of Business and started playing tennis with him.
Ronald Skelton and Malcolm had a conversation about their respective transitions from college tennis coach and military service to entrepreneurship. Tsetserra's move to entrepreneurship was largely inspired by his family's history of owning businesses and the positive impact they had on the community. He took two years to gain experience in the field, working both paid and unpaid opportunities.
Malcolm talks about his recent acquisition of a manufacturing company that builds shrimp sorting equipment and the process he went through to help it restore trust with customers and ensure they are creating something customers see as high quality.
Malcolm Peace talks about the importance of his family's 70,000 acre cattle and dairy farm, Tsetserra, located in Mozambique and Zimbabwe. He explains how his family cultivated a culture of community amongst the locals. He finishes by talking about the type of companies that Tsetserra looks for, their goal, and the ethos behind their work (58:10) Listen Here
Check out the new AI Ask This Episode Anything tool and our written article about what we learned here:
13 Concepts We Can Learn About Small Business and Entrepreneurship on How2Exit's Interview W/ Malcolm Peace
For an Awesome source of information and great articles on buying, growing, and selling a business, check out: Acquisition Aficionado Magazine’s Latest Issue (Sponsor)
Scott Duke is the founder of OpnRoad, a middle-market M&A service company based in Canada. In this podcast, Scott discussed the differences between the Canadian and US economies, the types of companies OpnRoad works with, and how the rising interest rates are impacting the value of businesses. He said that the cost of capital is the number one driver of business value, and when interest rates go up, it reduces the price of a business. He also said that debt is usually involved in an acquisition and it could make up as much as 70-67% of the transaction.
Scott Duke is an M&A advisor and the founder of eleven companies. He started his first company while in university to pay for school without taking on a lot of student debt. The company was a painting company similar to College Pro.
Scott discusses their entrepreneurial journey, starting with a painting company while in university that specialized in servicing cottages accessible only by boat. After working in corporate for three weeks and making less money, they decided to build the largest Wake Port facility in North America, but it didn't sell, prompting them to search for something more sellable. The speaker then built a radio station and was able to transfer it, which they considered a success. They learned a lot about sound and audio in this process and applied it to their other ventures.
He made the switch to an advisory role due to the pain of watching his business die. He wanted to help other entrepreneurs avoid this pain. He believes many end up on their paths due to the lessons learned through pain. He works with business owners of all ages, including his oldest client at 76, who are looking to exit due to retirement and have difficulty decoupling themselves from their business Watch here: (53:11)
Check out our article about this episode, complete with an AI-backed Ask the episode anything tool:
13 Concepts We Can Learn About Winning and Losing in Entrepreneurship on How2Exit's Interview W/Scott Duke
Attention Business Brokers, Advisors, Acquisition Entrepreneurs, and SMB Owners!
Do you want to stay ahead of the game in the SMB M&A market? The Hub is the solution you need! This curated newsletter brings you the best highlights from blogs, podcasts, YouTube, and news sources, all in one place. The HUB
Founding Member Shout-Out
Thanks to Sweetview Partners, an Acquisitions company looking to buy Texas-based B2B companies in the $1MM - $30MM revenue range. Click on the logo to check them out.
This week’s “DEEPER” Dive: The Ultimate Guide to Hiring a Business Advisor or Coach for Buying, Growing, or Selling a Business
Unlock your business potential with the right advisor
The process of hiring a business advisor or coach is a critical investment in your business's future. By following the steps outlined in this guide, you will be well-equipped to find the perfect advisor or coach to support you in buying, growing, or selling your business. Remember, the right advisor or coach can provide invaluable insights, guidance, and support to help you achieve your business goals and unlock its full potential.
Let’s dive in.
Read the full article by the Author, Ronald Skelton, with a paid account, click the share below and tag me in your share to get a paid account for a week, refer 3 people (DM me on Linkedin who you got to sign up), and get a paid account for 90 days. Get 10 signups - FREE FOR A YEAR.
FROM THE Editor:
Disclaimer: This newsletter is provided for informational & educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. We are not attorneys, tax, or financial advisors and not qualified to give any such advice.
Keep reading with a 7-day free trial