Complexity Hides Fragility: Losing a $20m Business | Joe Odell Interview скачать в хорошем качестве

Complexity Hides Fragility: Losing a $20m Business | Joe Odell Interview

Today's interview is the story of a business acquisition that ended in collapse, and how the protagonist is putting his professional life back together. Joe Odell bought a compounding pharmacy business with his partner Jess Paterson via the traditional search fund model. The fundamentals of the business seemed strong: Demographic tailwinds, high-quality revenue, and good sized, with $20m of revenue and 100 employees. But despite these hopeful signs, things went off the rails quickly once Joe and Jess took over. And for the next 2 and a half years, Joe fought to keep the business alive. Listen for Joe's thoughts on business complexity and the risk that represents a searcher. Listen for the support he got from his wife, and how that freed him to focus. And finally listen for how Joe is getting back on his feet today. While these acquisition failures are devastating, even traumatic, if you fight like hell and take care of your stakeholders, people will see your grit and character and may present you new opportunities from which to rebuild. Here is Joe Odell, former CEO of Pharmacy Specialists. ❤️ Enjoy this interview? SUBSCRIBE for more: https://shorturl.at/zaP1m 00:00 Joe’s background 11:51 Launching search fund & partnering with Jess Patterson 18:19 Finding home infusion pharmacy opportunity 34:16 Closing the $20M pharmacy acquisition 36:35 Early cash flow crisis & operational challenges 44:30 Turning around the business in year one 49:01 AWP price reduction wipes out $2M EBITDA 01:02:36 Decision to close the company 01:20:24 Current success with plumbing business acquisition CONNECT with the Acquiring Minds podcast, socials, etc. 🎧 Podcast on Spotify: https://open.spotify.com/show/2vZrl0u... 🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast... 👉 Get notified of new interviews: https://acquiringminds.co 👉 Follow host Will Smith on Twitter:   / whentheresawill   👉 Connect with host Will Smith on LinkedIn:   / willsmithsf   ABOUT Acquiring Minds Acquiring Minds is a podcast about buying businesses. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and host Will Smith talks to the people who do it. New episodes 2x per week. Credits: Edited by Anton Rohozov Produced by Pam Cameron #business #acquisitions #buyingbusiness