Episode Details
Back to Episodes
Hiring a General Manager & Buying Business #2
Published 3 years ago
Description
Shane Ehrsam & Brandon Adams return to discuss hiring a GM, buying business #2, the rewards of SMB life & managing envy.
Topics in Shane’s interview:
- Most professionally rewarding year of his life
- Gratification of making a positive impact on your employees
- Introducing new benefits for employees: 401k, health insurance, bonuses
- Growing revenue even after COVID demand recedes
- Not a “searcher-friendly” business
- Reality of bumpy revenue in retail
- Owning a business bought as a stock sale rather than asset sale
- Dealing with envy in search
- Identifying what is important to you in your journey to buy a business
References and how to contact Shane:
- shane@ntxtrailers.com
- North Texas Trailers
- Shane’s first appearance on Acquiring Minds: 6 Months to Buy a Business with $1m+ in EBITDA
Topics in Brandon’s interview:
- Magic of hiring a GM (when it works)
- How to decide when it’s time to hire a GM
- Improving the lives of employees
- How they’ve improved their hiring for blue-collar roles
- When to buy a second business
- Professionalizing a business “being run like a South Philly pizza shop”
- Get in the arena and doors will open
References and how to contact Brandon:
- brandon@k4holdings.com
- Philadelphia Dry Ice & Jim's Ice
- Brandon’s first appearance on Acquiring Minds: 6 Months in the Truck: Buying an Ice Delivery Biz
Get complimentary due diligence on your acquisition's insurance & benefits program:
Get a complementary pre-acquisition HR & PEO review for your target business:
- Contact mark@aspenhr.com or visit Aspen HR
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter