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Concrete Lessons: Munashe Makava on Family, ETA, and Building Businesses | Ep. 52
Episode 52
At the heart of entrepreneurship is the responsibility to create value. Not just for yourself, but for employees, customers, and the community.
In this episode of Before You Buy or Sell a Business, Jared Johnson sits down with Munashe Makava, an NYU MBA graduate who began his career at Deloitte and Goldman Sachs before stepping into entrepreneurship through acquisition.
Born and raised in Zimbabwe, Munashe shares how his parents instilled an entrepreneurial mindset early on, why the birth of his first child was the push to finally buy a business, and what he learned transitioning from Wall Street to owning two concrete companies in the U.S.
Munashe breaks down how he evaluated opportunities, why geography mattered more than industry, and what he wishes he had done differently during negotiation. He also talks about team building, mentorship, and why the hardest part of being an entrepreneur is people—not the numbers.
Main Takeaways:
- Entrepreneurship isn’t only startups: ETA reduces some risk but still demands leadership
- Geography can guide your search just as much as industry
- Build your deal team early, including tax strategy support, to avoid missed opportunities
- Strong seller and broker relationships can unlock deal structures others overlook
- Employees who think like owners are the key to long-term success
- Mentorship and networks multiply opportunities and help overcome self-doubt
Episode Highlights:
- [03:42] Growing up in Zimbabwe, working at Deloitte, and moving to the U.S. for an MBA
- [09:25] How becoming a father pushed Munashe to pursue entrepreneurship
- [15:17] Why entrepreneurship isn’t the “holy grail” for everyone and the difference between being an entrepreneur vs. entrepreneurial
- [22:04] Narrowing a search by geography and being industry-agnostic
- [28:40] Finding two concrete businesses on BizBuySell and spotting hidden value
- [36:55] Negotiating the deal structure, seller note, and lessons on tax allocation
- [43:28] Raising capital through classmates, friends, and crowdfunding platforms
- [51:02] Transition challenges: losing operators and rebuilding the team quickly
- [57:41] Discovering more value post-acquisition and surpassing year-one expectations
- [01:04:30] The importance of people, culture, and creating ownership mentality among employees
- [01:12:05] Why mentorship matters, building a pay-it-forward network, and revamping mentors as your stage evolves
- [01:19:15] Purpose as the ultimate motivator: enabling others through entrepreneurship
Connect with Munashe:
https://www.linkedin.com/in/munashe-makava-fcca-2728372a/
More from Jared:
If you have questions for Jared, visit: https://jaredwjohnson.com
https://www.linkedin.com/in/jaredwjohnson/
DISCLAIMER:
The views and opinions expressed in this program are those of the guests and host. They do not necessarily reflect the views or positions of my employer.
Keywords:
entrepreneurship through acquisition, ETA, buying a construction business, concrete pumping business, asset sale vs stock sale, SBA acquisition financing, seller notes, raising capital for acquisitions, building an entrepreneurial team, immigrant entrepreneurship, mentorship networks, employee ownership mindset, small business transition, growth after acquisition, business acquisition strategy
Published on 4 weeks ago