Take Five #047: How one holdco with $2 billion in revenue last year acquires one company a month
Codely v2.0 public release is here
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What has changed in our latest release?
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All new features available for all public channel users
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Coding collaboration with over 200 users at once
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Real-time code save every 0.1 seconds
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Take Five #047: How one holdco with $2 billion in revenue last year acquires one company a month
1. 💵 The grand total in DD cost over 90 days: $62,943 💵
2. How a Swedish holdco with $2 billion in revenue last year acquires one company a month
3. How one searcher-turned-owner is systemizing the pencil and paper systems into software
Jordan Novgrod has been documenting his acquisition from search to operations, and here’s his breakdown on how he’s approaching systemizing software for:
- A customer relationship management system (CRM)
- An enterprise resource planning system (ERP)
- Spreadsheet systems
“When I bought the business, the vast majority of the systems were manual pencil and paper systems. They were all logical and thorough, but very manual.
First, I spent ~6 months learning all the in’s and out’s to make sure anything I put in place is actually solving a problem, and not creating more than it solves.
[…]
As an example, I currently have a finance spreadsheet that we use to go through our accounts payable (AP), accounts receivable (AR), checking balance, and forecast 2 weeks and a month ahead. This spreadsheet is slowly growing more automated, for instance, once you enter the date on sheet 1 it will propagate it as well as the 2 week and month ahead dates. Further, it will automatically draw from the AP those payments that are due in the next 2 weeks, and those that are due in the next month. Currently, I copy and paste in the AR from QBO which is manual, and while I have a method to automatically tabulate the 2 weeks and month ahead, we don’t use it. The reason is simple, in small business, very few of our customers actually pay on time. Currently, we go through and make this determination on a case by case basis. I have started a sheet where we can estimate based on the customer how late they will be, and then use that data to automatically determine the AR, but have not made it that far yet. Obfuscated screenshots of this spreadsheet are shown below.”
From “Systemizing” by Jordan Novgrod
4. Things NOT to forget in due diligence: does the owner actually own their URL or phone number?
5. A macro view of what’s happening in the SMB acquisition space, starting with the impact of high interest rates
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