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How to Survive Buying a Bad Business
Published 3 years, 10 months ago
Description
It looked like a dream: $2m EBITDA, recurring, large market. Only after Judd Lorson bought it did he learn the truth.
Topics in Judd's interview:
- Searchfund accelerator pros & cons
- Understanding investors' role in your acquisition
- Importance of 100% transparency with employees (even pre-acquisition)
- Debt collection business pros & cons
- Discovery that he's acquired a bad business
- Managing hostility with sellers
- What is the proper attitude for buying a business?
- How to resign as CEO the right way
Links & how to reach Judd:
- Original case note from Yale about Judd's story
- The Acquiring Minds debate about Self-Funded Search vs. Traditional Search Funds
- judd DOT lorson AT gmail
Get complimentary due diligence on your acquisition's insurance & benefits program:
Learn more about Walker Deibel's done-with-you buy-side advisory:
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter