- Daniel’s unique experience with acquisition entrepreneurship
- How Daniel feels about his experience with Acquira
- How he got started with acquiring a business through Acquira
- The steps he took to ensure his purchase closes successfully
Becoming an acquisition entrepreneur takes discipline, patience, and hard work. It’s a journey that is filled with hardship but also rewards. At Acquira, we’ve seen many people that exemplify the traits necessary to be an effective business owner, but few have been more exemplary than Daniel.
We sat down with Daniel to discuss how he came to hear about Acquira and how he came to work with us. It’s a story of fortitude and dedication, and hopefully, it will help provide some clarity for your own acquisition journey.
What’s your background with Acquisition Entrepreneurship? What attracted you to it?
I had no background as an acquisition entrepreneur. But I have 30+ years of working experience in the areas of finance, operations, and procurement for global corporations in the automotive, steel, cement, and oil & gas industries.
How did you find Acquira?
I found Acquira while searching online. At first, I couldn’t find references for it, and that made me hesitate. Then I found Kingmakers’ filing with the SEC.
What were the initial challenges you faced in your Acquisition Entrepreneurship career?
I faced four challenges:
- Gaining confidence to speak to business brokers and sellers
- Learning the small business acquisition lingo
- Not knowing the steps and timeline to complete an acquisition
- Finding a business
How did you overcome those challenges?
I worked diligently on each of those challenges. What I did know, I showed interest in it and learned from reading and listening to others.
What was your state of mind before stepping out to find a business?
I always wanted to become an entrepreneur, however, my corporate career always progressed in a way that made me stay in a comfort zone.
How did you find a business to buy?
I found a business to buy online. I was using BizBuySell. I spent countless hours searching and fine-tuning my preferences.
What was your experience working with Acquira?
It has been good, to the point they have invited me to join the Acquira/Kingmakers team, in addition to continuing to pursue my acquisition. I always dreamed of becoming a partner of a private equity firm!
Note: You can hear Daniel describe his thoughts on the Acceleration Gauntlet in the video below.
What steps did you take to bring your business purchase to a successful close?
1. Working diligently to align the expectations and needs of all parties, and
2. Always building and strengthening relationships.
At what point did you feel this acquisition was going to be a success?
The acquisition is not closed yet. I felt confident when I traveled to Arizona and talked to the seller and a key employee that would be the qualifying party for the license acquisition, necessary for the loan approval.
If you could go back in time, would you change anything? What would you do differently?
I would like to have more clarity on the post-LOI steps and timeline, as well as the post-closing activities. All that before starting. I would consider the Assisted Sourcing program, which wasn’t available at the time.
How do you feel about stepping into a new business as the owner?
Excited! I want to acquire more technical knowledge about HVAC. Also, I want to execute the strategies for growth.
As E. Napoletano writes for American Express, “listening is the best business skill you’ll ever acquire.” Daniel’s experience has demonstrated this fact time and time again.
Daniel has proven himself to be the living embodiment of the values we hold as sacrosanct at Acquira. Through his systematic excellence and voracious learning, he has overcome many obstacles and demonstrated all the traits required of an excellent acquisition entrepreneur.
It's obvious that being systematic and patient has helped Daniel on his journey. Do you have any personal stories of patience paying off? Let us know in the comments below!
If you pay attention to the details and work hard, you will find something that works for you. If you’d like to hear more about the Assisted Sourcing program that Daniel mentioned, or if you want to begin your own acquisition journey, give us a call to learn how to get started.
- Learn what you’re strengths are, but also your weaknesses.
- It takes time and patience to overcome those weaknesses.
- A systematic approach is your friend when it comes to buying a business.
- It takes a lot of discipline to buy a business.
Acquira is a business acquisition in a box service. We help entrepreneurs buy businesses and we invest in them and their chosen businesses. We are here to help ensure that each business we work with is posed to make the biggest positive impact possible for its owners, employees, and community.