06 Mar Acquiring Minds: How to Grow a Small Business Acquisition into a HOLDCO Platform | Andrew Hitchings Interview
Andrew Hitchings, his wife, and third partner acquired a home cooling business in Colorado. It had 1 employee and $250k of SDE — quite a small business for acquisition entrepreneurship, especially to split between 3 partners. But they have grown the business 3x in 2.5 years, and that first acquisition is now large enough to serve as the platform for future acquisitions as Andrew and team start building out a holdco. This is a wide-ranging discussion with an entrepreneur building a holding company. Some of the topics covered: converting a seasonal business into a year-round business; mitigating the risk of buying a business with a single employee; why hire for character, not experience; 3 things a business owner should focus on; and strategy around building a holdco.