Smart Buyers + Cheap QoEs = BIG LOSS

Don’t Be Like These Buyers. Get a Real QoE.

THE TEST

Spend 15 mins, watch 3 reaction videos. If you’d catch all 3, pick a cheaper solution.

The Test · 3 videos · ~15 min

Watch all three. Could you have caught these?

One glance, one decision. If yes, take the cheaper route. If no, you need Guardian.

HEALTHCARE
Complexity Hides Fragility: Losing a $20m Business

Reaction Video

Manufacturing
The 7 Year Collapse of an SBA Acquisition

Reaction Video

Marketing Agency
Rebuilding from 80% Collapse to Mid 7 Figures Revenue

Reaction Video

VERDICT TIME

Did you catch all 3?

Be honest. Your answer changes which path makes sense for your deal.

All 20 episodes

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#1 of 20

Complexity Hides Fragility: Losing a $20m Business

Joe Odell’s $20M compounding pharmacy acquisition collapsed when a 90% reimbursement cut wiped out 50% of EBITDA overnight—a rare but foreseeable risk in healthcare that wasn’t caught in diligence.

● Reaction Video (~ 4 mins)
● ORIGINAL PODCAST (~ 90 mins)
#2 of 20

The 7 Year Collapse of an SBA Acquisition

Scott Duncan’s $3.6M tool and die acquisition seemed solid until a key employee departure took 50% of EBITDA, steel prices spiked 240%, and bookings collapsed from $6M to $3M.

● Reaction Video (~ 4 mins)
● ORIGINAL PODCAST (~ 90 mins)
#3 of 20

Rebuilding from 80% Collapse to Mid 7 Figures Revenue

Scott Alexander bought a marketing agency where the seller deleted unpaid invoices to hide rapid client loss. Then COVID hit and 80% of revenue vanished—but he rebuilt it.

● Reaction Video (~ 3 mins)
● ORIGINAL PODCAST (~ 90 mins)
#4 of 20

How to Recover from a Fraudulent Seller

Jason Jackson spent $400K+ on due diligence but learned more from a $17/hour employee than all professional advisors combined. The seller was committing Medicaid fraud.

● Reaction Video (~ 3 mins)
● ORIGINAL PODCAST (~ 90 mins)
#5 of 20

21 Months to Stability Buying a $1.2m SDE Business

Jan Roll partnered with someone based on industry experience alone without vetting their character. A lawsuit in year 1 consumed attention during the critical learning period.

● Reaction Video (~ 5 mins)
● ORIGINAL PODCAST (~ 90 mins)
#6 of 20

How to Reinvent a $1m Candle Manufacturer

Adam Goldberg paid $600K with no due diligence on inventory value, discovering obsolete stock. Revenue dropped by half post-acquisition with no recurring orders.

● Reaction Video (~ 4 mins)
● ORIGINAL PODCAST (~ 90 mins)
#7 of 20

FedEx & Fencing: A Pivot into Ownership

Matt O’Brien’s trucking company acquisition resulted in a $500K loss within one year due to increased insurance costs, freight attrition, and working capital burn.

● Reaction Video (~ 3 mins)
● ORIGINAL PODCAST (~ 90 mins)
#8 of 20

Back from the Brink When Everybody Quits Day 1

Jack Carr bought an HVAC business for 2.5x multiple—all technicians quit on day one, leaving him to personally perform 3-7 service calls daily for four months.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 90 mins)
#9 of 20

How to Survive Buying into a Terrible Industry

Ayo Phillips discovered widespread corruption in the resurfacing industry, faced a traumatic family crisis, Hurricane Harvey, and plummeting sales—all within year one.

● Reaction Video (~ 3 mins)
● ORIGINAL PODCAST (~ 110 mins)
#10 of 20

Plumbing Acquisition Gone Wrong

Josh Key’s SBA lender demanded a master plumber on the cap table at the last minute. His hastily-chosen 50/50 partner turned hostile, leading to Chapter 7 bankruptcy in 6 months.

● Reaction Video (~ 5 mins)
● ORIGINAL PODCAST (~ 90 mins)
#11 of 20

Business Collapse After Going All-In

Justin Willess discovered that a confession of judgment clause allowed sellers to garnish $5M+ in accounts receivable overnight with no opportunity to cure—freezing all business funds instantly.

● Reaction Video (~ 6 mins)
● ORIGINAL PODCAST (~ 90 mins)
#12 of 20

When the Business Can't Be Saved: Resilience

Dustin Fusillo lost $32K deposit on a manufacturing deal, then acquired a declining ATM business with $25K/month rent for space 2-3x larger than needed—and had to shut it down.

 
● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 90 mins)
#13 of 20

Candid Reflections on 7 Years of SMB Ownership

Dan Verboski bought Leon’s Signs for $2.7M without purchasing accounts receivable, creating a financial cliff within 3 months. He also missed $1.5M in CapEx needs over 6 years.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 90 mins)
#14 of 20

How to Survive & Thrive After a Rocky Transition

Chris Jones discovered QuickBooks discrepancies during due diligence but proceeded anyway. His general manager quiet-quit and started a competing business 8 days post-acquisition.

● Reaction Video (~ 4 mins)
● ORIGINAL PODCAST (~ 90 mins)
#15 of 20

What Buying Small Is Like When Crises Happen

Monte Marcum’s small Filta franchise acquisition exposed him to immediate equipment breakdown crises within days of closing—revealing the fragility of businesses without backup capacity.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 90 mins)
#16 of 20

Buying a $5m+ Business that Collapses

John Ikalowych’s hail repair acquisition faced mass turnover of half the staff immediately, a competing business splintered off, and a hailstorm damaged 250 cars in their facility.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 90 mins)
#17 of 20

How to Automate an Online Wholesale Business

Damon Chlarson returned to a W-2 job despite owning a profitable business generating $250-275K net profit, realizing solopreneur lifestyle was unsustainable for his mental health.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 30 mins)
#18 of 20

How to Buy and Operate an Appliance Repair Business

John Schooler lost a customer representing 20% of revenue, exposing unprofitable contracts and operational inefficiencies that were previously hidden.

● Reaction Video (~ 2 mins)
● ORIGINAL PODCAST (~ 40 mins)
#19 of 20

How to Survive Buying a Bad Business

Judd Lorson presented himself as an advisor which backfired when he became CEO. He needed to change the business model immediately because of illegal practices and faced several lawsuits.

● Reaction Video (~ 3 mins)
● ORIGINAL PODCAST (~ 90 mins)
#20 of 20

DIY QoE Leads to Bankruptcy

A buyer bragged about doing her own Quality of Earnings analysis. 9 months later she appeared on Acquiring Minds discussing mistakes. 3 months after that—bankruptcy. 

● Reaction Video (~ 4 mins)
● ORIGINAL PODCAST (~ 60 mins)

Don't let a mediocre QoE cost you the deal.

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