oday's guest didn't have to buy a business.
In fact he didn't have to continue working at all.
In their mid-fifties, Matt Pohl and his wife exited a small business they'd started for enough money to retire early.
But instead of doing that, they got back into the game of entrepreneurship, this time as business buyers.
And what they ultimately bought was a welding business.
Welding is a trade you haven't heard much about on Acquiring Minds, and today is going to be an education.
The business Matt & his wife Dawn bought was a grand total of 4 people: the 2 owners, who would leave after the transaction, plus 2 additional welders.
So really, the business that would transfer was just 2 welders.
In a market where welders are hard to find, and without Matt & Dawn knowing anything about welding themselves, this was risky to say the least.
But it's gone well against those odds:
They quadrupled revenues in the first 2-ish years (though so far 2024 is a bit softer).
Listen for what I consider a few reasons for their success:
- Using a well-defined framework to grow the business.
- Matt & Dawn's partnership; they'd built a small business together before and have a good division of responsibilities.
- Call it the X-factor: You'll hear how much Matt has enjoyed this journey into welding. Easier to be successful at something that intrigues and interests you. Meanwhile, you'll hear how Dawn doesn't shy away from being among the welders on the shop floor where the sparks fly.
Enjoy this story of Matt & Dawn, a couple who chose buying and growing a small welding business over retirement, and have been rewarded for doing so.
