Acquiring Minds The Gritty, High-Capex Road to Millions
20 snips
Apr 18, 2024 
Entrepreneur Reid Tileston shares his journey after acquiring a business with expensive trucks. He discusses topics like working on the business, feedback, relationships, slow temp-to-hire process, transitioning paper processes to the cloud, risks of informing employees about a business sale, and personally testing tech for field service management.
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Leverage Intermediaries & Peers
- Diligently vet intermediaries and show credibility to gain their trust and deal access.
- Join peer groups early during search to get critical feedback and avoid loneliness in ownership.
Control High CapEx with Diligence
- Manage high CapEx by deeply diligencing vehicles, costs, repair networks, and contingency plans.
- Budget carefully and use third-party mechanic inspections to understand and control fleet expenses.
Hire Slow and Methodical
- Use a "hire slow, fire fast" approach via temp agencies to onboard employees carefully.
- Require temps to earn full-time benefits over time to maintain culture and retention.