🧐What I Learned Last Week

Week ending Friday June 24, 2022

What I Learned Last Week curates the most interesting content relating to business acquisitions, operations, entrepreneurship, finance, and more. WILLW is a publication of The Business Inquirer.

Let’s connect: LinkedIn, Twitter, Facebook Group

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Hello Friends!

This issue of The Business Inquirer is brought to you by DueDilio.

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📰 Articles

Jay Vasantharajah is a Toronto-based investor who also has a great newsletter. In the latest issue, he highlighted an interesting article from The Globe on medical practice roll-ups that are happening in Canada right now. Good summary of the participants and what’s happening in this market.

Fuelled by international private equity funds, consolidating firms have been on a tear in health-professional fields, buying up practices in fields such as veterinary medicine, dental care, optometry and pharmacies and assembling them into chains

Inside the corporate dash to buy up dentists’ offices, veterinary clinics and pharmacies

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Kingdom Builders highlights the importance of sourcing proprietary deal flow and that it doesn’t have to be a painful process.

Every Business is for SALE

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There’s no doubt that we are in an uncertain macro environment. Google search for the term “recession” is at all-time highs.

US Weekly Search: Recession

I want to highlight a few recent posts that attempt to explain the current situation and how to navigate it.

Chenmark - Running Against the Wind

The SMB MBA - Liquidy is Value

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🧵 Twitter

Good tips for those seeking an SBA loan…

Matthias Smith - Fueling Entrepreneurs Dreams @SBA_Matthias

1/x: This thread is about common mistakes that I have seen searchers making when buying a business. These insights are both from my time working in loan closing and also more recently as an SBA loan broker. #sba #smb #acquisitions

Too good…😂

Virtual Executive Officer @GoodsCapital

You know how there’s an International Criminal Court? There should be an International Valuation Court.. Seller wants 5x sales for a bowling alley? Straight to jail PE paying 14x EBITDA for a RoLL uP pLaTfoRm.. jail Buyer says HVAC co with 15 techs worth only 3x SDE.. jail

How to run a remote-first business…

Nick Huber @sweatystartup

I have 45 employees at my company. Most of them have never met one another in person. We have no office. They live all over the world. A thread on how we do it:

Good read on NWC…

M&A Focused CPA @BoilerPlateCPA

thread on net working capital (NWC) inspired by @GoodsCapital and @ClintFiore's reluctance to trust accountants lol

This is the way…

Sieva Kozinsky @SievaKozinsky

We’re building a baby Berkshire Hathaway. The crazy part? We plan to pay 0% capital gains, compound w/ low taxes, and give our investors the same luxury. Here’s the playbook (that you can use too):

Helpful to know when modeling your acquisition financing…

Bruce Marks @sbabmarks

So, here’s how banks determine how much salary a searcher needs and what will be subtracted from cash flow to service debt.

I’ve always said that a 50 Cent album will drop more knowledge than a Harvard MBA…

Ed Latimore @EdLatimore

I have a friend who was once a big-time drug dealer in my city. It’s by sheer luck and (and some sloppy police work) that he only got 2 years when he was caught. When I finally got a chance to catch up with him, I had many questions about many things. //A THREAD

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🤔 Thoughts, Events, Other

How to Build a SaaS
My friends over at FirstPrinciples are hosting an interesting webinar for anyone looking to build a SaaS business.

Thursday, June 30th, 9:30 am EST

Join us for our upcoming webinar to get insights into the following points:

1. What is SaaS Application
2. Understanding of Business Requirements
3. Prototyping (Low vs High Fidelity)
4. Unified Modeling Language
5. How to write effective user stories
6. Product Development
7. User Acceptance Testing
8. Product Launch

The SaaS Handbook: How to build a SaaS Application in 7 steps?

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Web Scraping
Ryan Kulp published a free 23-lesson course on web scraping.

Why should I learn to scrape?

When you need information for a work project or even a research task, you can't always find it "officially" with APIs or as downloadable content. 
Scraping, or "extracting data programmatically," can bridge this gap by automating up to millions of simple tasks on our behalf. Doing this not only provides a competitive edge through better informed decision-making, but it also can help us create magical user experiences.
In this course I'll demonstrate for you first-hand how to make scraping one of your most powerful weapons.

Web Scraping 101

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Legal Work for Equity
I recently came across HeyCounsel. It’s a platform that connects startup founders with attorneys who work part-time in exchange for equity. Really interesting model and wondering if there are other areas where such an arrangement would work.

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🛠 Tools & Resources

These are tools & resources that I personally use or have used. They may contain affiliate links so I’ll get a few pesos if you sign-up.

Cerebro Capital - Cerebro has a network of 1,500+ lenders who can provide debt financing for your acquisition, refi, etc. $500k minimum.

X5 Deals - Proprietary deal sourcing. They do the outreach and send you relevant, actionable deals directly into your inbox.

Curators - Proprietary deal sourcing. You need targets that fit your investment criteria, and Curators delivers week after week - we even update your personalized database on a daily basis with new information on best-fit targets.

BizNexus - Proprietary deal flow, deal aggregator, and exit prep.

PrivSource - Deal aggregator for lower and middle-market listings.

ProjectionHub - Access to 50+ CPA-developed financial projection templates. 25% discount using code “duedilio” at checkout.

Logology - Best automated logo & brand identity tool I’ve come across.

DeepBench - Access a cutting-edge expert network. $200 discount.

OpenPhone - The best business phone solution that I have found. $20 credit.

Eloquens - Knowledge marketplace. I’ve bought a few guides and templates here.

Deal Flow Scout - Peer-to-peer deal flow exchange. Free, open, transparent.

Deal Sourcing Guide - A directory I put together of online marketplaces, brokers, DFY deal flow, and more.

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That’s all for this issue of What I Learned Last Week!

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Important Disclaimer: This newsletter is provided for informational & educational purposes only, and should not be relied upon as legal, business, investment, or tax advice. This newsletter may link to other websites and certain information contained herein has been obtained from third-party sources. While taken from sources believed to be reliable, it has not been independently verified. The Business Inquirer makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. References to any companies, securities, listings, investments, or digital assets are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any business, tax, or investment decisions. Content in this newsletter speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.