Run It for 6 Months Before You Buy It

Jeff Thompson took over an unprofitable elevator company as GM, with a pre-agreed right to buy it in pieces.

Topics in Jeff’s interview:

Why elevator companies attract private equityTurning operational chaos into repeatable processesEmpowering employees to solve technical problemsImproving pricing and expanding customer revenueStructuring a staged, three-year business acquisitionAligning incentives between buyer and sellersBuilding trust through transparency and fair dealingGrowing revenue beyond $8 million annuallyUsing hire-to-acquire to reduce acquisition riskFinding new acquisition opportunities in elevator servicesReferences and how to contact Jeff:

LinkedIncareers@charterelevator.comBen Rizzo on Acquiring Minds: How to Buy, Double & Exit a Turnaround (as a First-Timer)Mike Bourgeois on Acquiring Minds: First-Timer Buys a $15m Business in DistressElias Youssef on Acquiring Minds: Take Over the Business Before You Buy ItGet a free review of your books & financial ops from System Six (a $500 value):

Book a call with Tim or hello@systemsix.com and mention Acquiring MindsContact Jenny to learn how Engage can run people operations in your acquisition:

Jenny Thear: jthear@engagepeo.comWork with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:

Pioneer Capital AdvisoryConnect with Acquiring Minds:

See past + future interviews on the YouTube channelConnect with host Will Smith on LinkedInFollow Will on TwitterEdited by Anton Rohozov and produced by Pam Cameron