Key Points From the Interview
ne of the classic pitfalls when buying a business is:
Mistaking what is essentially a glorified job for the owner, for an actual business.
Case in point.
Today's guest Tato Corcoran bought a manufacturing business.
But one that the owner had optimized for his own comfortable lifestyle, to the detriment of everything else about the enterprise.
When Tato took the keys, the business:
- was doing just $400,000 revenue
- employed 3 people
- hadn't maintained equipment
- and hadn't raised prices in close to a decade
And oh by the way, Tato knows nothing about manufacturing.
For the first 4 months of her ownership, she cried on her kitchen floor — every day.
Well, 18 months later, and Tato has more than doubled revenue.
2023 closed with over $1m in sales.
There is a lot of detail in this episode; Tato shares everything. Let me call out a few to listen for:
- How she used snail-mail campaigns to reach owners during her search
- How the value of the business's real estate factored in to her risk analysis
- How she cracked the code on hiring
Buckle up for this adventure with Tato Corcoran, owner of Brandt Molded Marble.
