03 Apr Acquiring Minds: Buying a $4m Business that Collapses | John Ikalowych Interview
After a professional life filled with success, John Ikalowych decided to try entrepreneurship by acquiring a business. He found an automotive hail-repair business with $2m in earnings and jumped at it. The next two years would see John pounded by crisis after crisis, culminating in the decision to shutter the business. And yes, John had a personal guarantee, the dreaded condition of an SBA loan that says the bank will come after your personal assets if you fail to pay it off. This trial forced John to confront his sense of self-worth and, while excruciating, he emerged stronger, wiser, and eager to help others avoid or survive a similar fate.
