Margins in Mulch: Buying a $1m Erosion Control Business | Greg Bruns Interview

Today's guest worked for years in commercial banking. During that time, he'd deal with local business owners, seeing up close the success they had, the lives they led. And he always felt like a supporting character, that these owners were the real protagonists. "It was like, man I wish I could do that, but I'm just the banker." Well today Greg Bruns is doing that, owning and running his own business. Now he's not a multimillionaire yet. He's only 3 months into the acquisition of a small hydromulching business. But he's taken that first, that hardest step, and I know you join me in wishing him success as he grinds the dream to reality. Because it is grindy. The business Greg bought is project-based, tied to construction, vulnerable to weather. Since he's in Houston, which saw Hurricane Beryl blow through in July, revenue collapsed that month. So for that reason, and others that Greg and I discuss, it is not easy. But, he is off the sidelines and in the game, where he wanted to be. Enjoy this conversation with Greg Bruns, former banker-now-owner of Allied Hydromulch. ❤️ Enjoy this interview? SUBSCRIBE for more: https://bit.ly/42hLnN0 00:00:00. Greg's background 00:06:45. Inspiration to buy a business 00:13:32. Greg searches for a business 00:19:55. Greg finds Allied Hydromulch 00:25:34. How Hydromulch controls erosion 00:30:35. Challenges to growing the business 00:35:28. Greg secures financing 00:41:17. The Resilience of the business 00:44:50. Seller note and financing 00:50:11. Tax Benefits of Business Ownership 00:56:32. Cash flow management in practice 01:01:08. Learning the culture of construction 01:08:19. Asset sale vs. stock sale 01:16:45. Future plans for the business 01:20:03. Advice for searchers 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. #business #acquisitions #buyingbusiness