Things they don’t tell you about SMB in a blue collar business:
I wake up every morning and check the inmate registry for two counties.
Mills Snell
2,349 posts
Mills Snell
@thegeneralmills
Owner of SC Commercial Roofing Co. Co-Host of @acquanon
Columbia, SC
Joined July 2011
- Best parenting advice (dad of 4, with kids from 4 to 8): Get a car wash membership. We go at least every other day, good for a 20 minute outing, kids love it, vacuum the car out, everyone is happy. $19.99 a month.
- Replying to @MikeBotkin_Thank you, this is going to consume my thoughts for the next 24-48 hours
- Coming from the deal world, it’s easy to think that earnings are clear cut. $1M, $2.2M, X, in EBITDA. It’s all EBITDA based. In owning/operating, you get hit in the face with the difference of cash flow. Here are some of the major impacts to cash flow: 🧵
- Replying to @MikeBotkin_I entertained this idea, even rain it by my 10 year old daughter. Daughter thought it was a fun exercise… wife did not.
- The delta between generating $1 of sales, and *collecting* $1 of free cash flow is staggering.
- Was talking to a friend who owns a $1m EBITDA B2B service business. It’s an absolute no man’s land for sellers like him. It’s truly difficult for folks like him to find buyers. Why? 1- too big for most owner operators 2- too small for funded searchers 3- too small for PE
- My youngest brother (15) came to job shadow me today. To his surprise, I had setup for him to do 1-on-1 interviews with local business owners where he had to go ask them about how they made money, what differentiates their business, etc. Then had him write thank you notes.
- Replying to @hoosierbuilderOh yeah, it happens all too frequently. “Hey has anybody heard from ______!? No… Uh oh, let’s check Lexington County Inmate register”
- Background for the new followers, thanks to @StudentRentPro & @sweatystartup I formally owned a sell-side M&A adv firm, then went to the buy-side with @PermanentEquity Now I own and operate a LMM commercial roofing contractor (Aqua Seal Roofing) in my hometown of Columbia, SC
- When eating tacos, it’s important to eat good tacos and not bad tacos.when buying companies, it’s important to do good deals and not bad deals.
- Replying to @ToddLlewellynRoofers and plumbers are very different, I’ll give you that.
