If you are ever considering buying or investing in a profitable small business…

Or you want to build a holding company where each company is run by a CEO...

Here's my talk with Xavier Helgesen (co-founder of Enduring Ventures), where he shares everything he knows about buying businesses after 20+ acquisitions and looking at 1000s

- Currently 17 companies in the portfolio

- Revenue $100 million+

- Spends plenty of time with family and children

"Pay for Quality of Earnings even on small deals."

"The best way to find a CEO for a business is to ask the seller who has asked about buying it in the past."

"Look for the smallest, weirdest niches. Less competition, greater margins."

We discuss:

– Everything he knows about buying businesses after 20+ acquisitions and looking at 1000s

– His MEMO to his 25-year-old self that he posted on his 45th birthday

– The biggest risks and rewards of buying small businesses

– What makes Nick Huber one of the best entrepreneurs he’s ever met

– Finding the best CEO for Portcos

00:00:00 - Intro

00:00:31 - Most “bad” things that happen to you are not as important as they feel at the time

00:04:29 - Selling Apple and Nvidia in 2011 and Google in 2008. “Don’t be me.”

00:08:27 - Consistency for physical activity matters more than maximal excursion

00:13:36 - Your most important mission in your 20s is to surround yourself with the most talented people in the world in your chosen craft and learn from them

00:20:27 - Owner operated businesses are super efficient. Owner does six jobs. You will probably spend more to professionalize

00:29:40 - Look for rich owners as there are a lot of small business owners who are not that rich

00:37:34 - Make sure management only gets paid bonuses when they distribute cash flow to owners

00:41:19 - The best way to find a CEO for a business is to ask the seller who has asked about buying it in the past

00:43:35 - Most CEOs and entrepreneurs have no idea how to build an audience that they can use to raise capital or sell products and services

00:56:46 - Don’t fall too in love with the business. You’ve always got to be ready to walk away.

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Join HoldCo Builders weekly newsletter on finding deals, raising capital, and growing small profitable niche businesses: ⁠⁠⁠https://privatequityguy.beehiiv.com/⁠

Xavier on Twitter: https://twitter.com/XavierHelgesen

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.