Weekly Recap

E238: Overcoming Setbacks: How Landon Mance Mastered Industrial Service Business Acquisitions

About the Guest(s):

Landon Mance: Landon Mance is the co-founder of Backbone Planning Partners and a seasoned acquisition entrepreneur. He has a strong background in wealth management, particularly focusing on helping small and medium-sized business owners grow their enterprises and maximize value. Landon is also an active investor, having recently acquired Nevada Tree Service. Aside from his professional ventures, he is a dedicated family man and an advocate for enriching human connections.

Episode Summary:

In this captivating episode of the How to Exit Podcast, host Ronald Skelton engages in a vibrant discussion with Landon Mance, co-founder of Backbone Planning Partners. The episode uncovers Landon's unique journey from a family background woven with entrepreneurial spirit to his current endeavors in acquisition and wealth management. Landon shares intriguing insights into the acquisition of Nevada Tree Service and the strategic decisions behind it, shedding light on the intricacies of managing and scaling a blue-collar business.

The conversation dives deep into the challenges and triumphs of acquisition entrepreneurship. Landon elaborates on the importance of understanding business fundamentals and preparing for unexpected financial hiccups. He emphasizes the value of retaining experienced employees during transitions and outlines the significance of leveraging professional guidance in wealth management. This episode is a must-listen for aspiring entrepreneurs and seasoned investors alike, offering nuggets of wisdom on strategic business growth, acquisition tactics, and the indispensable human aspect of business relationships.

Key Takeaways:

• Acquisition Strategy: Landon stresses the importance of understanding the business fundamentals and the necessity of bringing in experienced operators to manage day-to-day activities.

• Financial Preparedness: The episode highlights the critical need for comprehensive financial planning, especially when leveraging debt for acquisitions.

• Human Connection: Landon underscores the value of genuine human connections and their role in business success and personal fulfillment.

• Growth Challenges: Insights into managing unexpected expenses and cash flow challenges post-acquisition are discussed.

• Professional Guidance: The importance of holistic financial advisory services to ensure both business growth and personal financial stability is emphasized.

Notable Quotes:

1. "I love entrepreneurship. I love the idea of acquisition entrepreneurship via an acquisition as opposed to starting something. I don't think I'll ever start something again in my life."

2. "A lot of small business owners that have experienced some level of success, they are beholden to their lifestyle."

3. "Building up the cash reserves means that you got to take less cash out of the business, mister or misses business owner."

4. "I have a really interesting perspective because I get to see the up-to-date financials for, you know, call it 20 successful small businesses."

5. "Human connection is just such an important part of being a good human and being a good business person."

Article:

Excelling in Entrepreneurship: Insights from Ronald Skelton and Landon Mance

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E237: AI-Powered Valuation: How AI is Revolutionizing the M&A Process with Simon Leroux

About the Guest(s):

Simon Leroux is a seasoned entrepreneur and current CEO and Founder of Optionality, an AI-driven platform focused on the mergers and acquisitions space. With a rich history in building and exiting businesses, Simon successfully bootstrapped his last startup, Gazelle AI, and led it to an acquisition by KKR. He holds extensive experience in e-commerce, artificial intelligence, and data analytics. Post-exit, Simon joined Inovia Capital as an Entrepreneur in Residence (EIR), where he leveraged his expertise to support promising startups.

Episode Summary:

In this insightful episode of the How2Exit Podcast, host Ronald Skelton sits down with Simon Leroux, a serial entrepreneur and CEO of Optionality. Simon shares his journey from bootstrapping his previous venture, Gazelle AI, through its acquisition by KKR, to founding his latest AI-powered platform, Optionality. The podcast delves deep into the critical inquiries every business owner faces: the actual worth of their business, the best timing for a sale, and the steps needed to maximize enterprise value.

Simon discusses the intricacies of using AI in Optionality to assist advisors in the M\&A space. He highlights how this tool automates much of the time-consuming research required for valuations, making it a game-changer for advisors. Through the platform, significant efficiencies are realized, enabling advisors to deliver faster and more accurate valuations based on comprehensive data analysis. The episode also underscores the importance of building strategic partnerships and stresses the need for business owners to start planning for an exit well in advance.

Key Takeaways:

• Optionality in Business Transactions: Simon stresses the importance of having multiple exit options to maximize enterprise value.

• Proactive Advisor Engagement: Business owners should engage advisors early to plan for exits effectively.

• AI-Powered Efficiency: Simon explains how Optionality leverages AI to streamline the process of business valuations for advisors.

• Strategic Relationships: Building long-term relationships with potential acquirers and strategic partners can significantly impact exit success.

• Tailored Valuation Models: The platform's ability to use multiple valuation methods ensures a more comprehensive and accurate business assessment.

Notable Quotes:

1. "Optionality is what gives you value. If you're in control and have options, this is where you're going to maximize your enterprise value." - Simon Leroux

2. "The problem that I've seen in this market is that the business owners are waiting way too long to have those conversations." - Simon Leroux

3. "Our platform is designed to get that initial enterprise value estimate to provide an initial assessment and options for business owners." - Simon Leroux

4. "AI is your co-pilot; it makes the advisors more efficient, having more powerful strategic conversations with their clients." - Simon Leroux

5. "Find an advisor that knows your space, has a track record in your industry, and your company size." - Simon Leroux

Article: 

M&A Insights: The Power of Optionality and Proactive Advisory

FROM THE Editor:

Disclaimer: This newsletter is provided for informational & educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. We are not attorneys, tax, or financial advisors and not qualified to give any such advice.