Creating Search Criteria for Your Acquisition – How to Find the Perfect Match for You and Your New Business
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Continuing in his search to find a business to acquire, Confident ROi host Alex Vorobieff lets us in on what he is looking for, and how he developed search criteria that has prevented him from making offers on a few businesses that looked promising.
We also delve into the new trend of DIY AI development, illustrated by a fascinating story about a Japanese owner of a small dry cleaning business, who has transformed his business without any prior knowledge of coding or AI software.
This episode also discusses how technology has disrupted some more mature industries for the better, and how tech sometimes has unintended consequences for many other traditional products, directly resulting in their failure.
Finally, we look at what we can learn from collecting data in subjective fields such as the buying and selling of horses. Can we really create objective and measurable elements in these fields? And if so can we use them to create a competitive advantage? Listen to the podcast to find out.
How do you set up search criteria when acquiring a business? – 0:28
Why Alex is avoiding businesses linked to the residential housing market – 2:54
The American skilled-labor shortage and how it’s ramping up labor costs – 10:35
Do it yourself AI, the story of one Japanese dry cleaners’ owner – 15:59
How coding and technology is becoming more accessible to the layperson – 18:04
What the buying and selling of horses can tell us about data – 25:50
Mining objective and measurable elements from data that was previously thought to be “subjective” – 31:54
How some firms have used technology to disrupt the shoe industry and gain a competitive advantage – 39:23
How Alex is looking to develop an existing business – 40:42
How Dominos were able to scale from a 2 store pizza chain to an international empire by getting their managers to literally buy in – 46:49
The unintended consequences of introducing technology to mature markets and products – 49:38