If you’re acquiring a business, immediately overhauling the way the company operates is not likely going to be the most effective strategy. Unless the company was a fire sale, you’ll lose customers and staff by changing too much too soon. Getting people who are already in the company to buy-in to what you’re planning is crucial. When you buy a business, you’re acquiring all of its people too—and you can’t just expedite trust.

On today’s show, we have Kylon Gienger, president of Acquira (an investment fund for people looking to buy small businesses and an accelerator for those looking to do the same), who is going to prove the value of securing key relationships in new acquisitions, particularly with the people who will be executing the strategic plan to increase the value of the business. On the way, we explore the crucial role of emotional intelligence for any business buyer, the different types of search fund investment structures and what an ideal acquisition entrepreneur profile looks like. This is an episode you don’t want to miss if you’re looking at taking over a new operation.

What You Will Learn In Today's Podcast Interview

• Why the acquisition entrepreneur is on the rise and how they can help fill a void in the impending wave of Baby Boomer transitions
• The differences between on-market and off-market deals
• How private equity is expanding the multiples in the home services industry
• Why some sellers would be willing to take less of a purchase price to sell their “baby”
• What the “gauntlet” is and how it’s used to filter the investors and business buyers Acquira brings into their ecosystem
• Why you should never underestimate the human component of a deal—livelihoods depend on it
• The reason you should keep on the previous owners in any lower market companies you acquire, if possible
• How to hire good people—those who match your values as well as have the skills and training you need in the role
• What factors Acquira considers when evaluating new businesses to invest in and their strategies to mitigate risks discovered
• How Acquira is using EOS to onboard the companies they buy
• When you should compromise with established staff rather than steamroll their ideas post-acquisition
• The value of ongoing learning as a business owner (even if it’s just-in-time!)
• Why understanding the human element of transactions can help you rise to the top as the buyer of choice
• What the "Silver Tsunami" investment landscape looks like as $10 trillion in Baby Boomer business assets makes its way to market
• How to make the transfer of ownership enjoyable rather than traumatic
• Building trust in the culture of your company is vital to making the value creation changes you need

Are You Growing The Value of Your Business

Take The 2-Minute Assessment To Get Your Intentional Growth Score™ And 1-Page Vision Board.

• Are your company's current initiatives intentionally designed to increase the value of the business?
• Do you know what you want from your business long term and why?
• Do you know what your company is worth?
• Do you know the differences between Management, Family Transitions, PE Firms, ESOPs and Strategic Buyers?
• Does the business have a written strategic plan on how to achieve the desired normalized EBITDA and valuation?

About the Guest:

Kylon Gienger is president of Acquira, and investment fund for people looking to buy small business and an accelerator for people looking to do the same. He is a serial entrepreneur hims