I'm thrilled to announce a new media business of mine, The Operator's Handbook!

After nearly a year spent brainstorming, writing, editing, and designing, this new print publication focused on small business operations is ready.

Let me share who we are and our mission... To help kick things off through the podcast, @tsludwig turned the tables and interviewed me about my journey starting and running Think Like an Owner, insights and lessons, and our goal as a media biz.

Tim was very influential in starting the Handbook...

alexbridgeman.com/podcasts/annou…

Want to start a podcast?

I'd love to help, it's easier and cheaper than you think, and I think podcasts are a fantastic way to advance your career.

Here's a thread on the equipment you'll need, software and services I use, and some general tips for running a podcast. Starting off with equipment. You'll obviously need a microphone, I use the ATR2100.

They're easy to use, sound great, and are durable. I put both of mine in the washing machine after my first episode and I've continued to use them ever since.

They are the Honda Civics of mics.

I have a theory I call the "Chicken Theory."

According to the Chicken Theory, you should always order the less desirable meat (chicken, pork chop/loin, etc) at a restaurant and avoid the high end meats like steak or salmon.

Let me explain... (relates to SMB, promise) Steak and salmon sell themselves.

There's not much incentive for the chef to spice things up as customers will buy that meal almost regardless of how well it's prepared or seasoned.

This results in a bland steak/salmon that lacks great flavor.

Standing out when reaching out to a potential seller is really hard, and become harder.

BUT there are many creative ways to find sellers and stand out to them that not many folks are trying.

Here are 8 creative ways to find potential sellers.

Long thread! 🧵 1) Industry podcasts.

Many industry podcasts are hosted by owners in that industry. Reach out to them! Podcasters are flattered when you reach out interested in learning about them and their show.

Ask for advice, industry knowledge, and if they're selling their business?

@MikeBoyd shared the playbook on @RealVision to preserve and grow generational, family wealth.

And it was awesome! Mike has been superbly building this guide with The Business of Family podcast.

Here are my notes from the conversation: (long thread)

realvision.com/shows/the-inte… 100+ year old companies are very rare.

Most family wealth is lost by the 4th generation as the family outgrows the wealth and fails to build structures to keep that wealth alive.

Looking for a company to acquire? Don’t start a search fund, start a podcast.

You’ll get proprietary deals, build industry expertise and credibility, and pay for your search.

Here’s how (long thread!): Nearly all searchers today start by building email lists and collecting names and phone numbers.

Nothing wrong with that, but it’s becoming a harder channel to make yourself stand out to a seller.

SMB Twitter has been on fire recently with tons of great threads of stories, lessons, and operating advice.

All of these folks are must-follows in this little SMB community of ours.

Here's a few of my recent favorites, let me know if I missed any. (I'm 100% sure I did) @joshuamschultz had an amazing one this morning on the power of getting to know your team, especially in the first 100 days.

https://twitter.com/joshuamschultz/status/1346841960275914752?s=20

Have any searchers been funded via something like @earnestcapital's Shared Earnings Agreement (SEAL), rather than a traditional search investment?

The SEAL pays a % of owner earnings up to a cap multiple (2-5x investment) and converts to equity in a cap raise.

Could it be used? The two (SEAL & Trad search) feel pretty similar, but the SEAL would continue paying the investor even if the search failed.

The failed searcher would pay a % of income up to a cap multiple, reducing the "go-to-0" risk to the investor of giving them capital in the first place.

Search Fund Advice Megathread:

In my searcher survey I asked searchers for their one piece of advice to prospective searchers. This thread is 29 pieces of advice current searchers and operators shared and I hope you find immense value in their perspectives.

Enjoy below 👇🏻 1. I don't have advice, just my opinion: I try to take alignment over convenience.

1/ Not sure how many of you have heard of Edelweiss Holdings (permanent capital co) and Anthony Deden, I had but had not seen this interview with @realvision until @amellis_84 sent it to me.

He said it would "blow my mind" and he was right! Takeaways:

2/ @amellis_84 has a Deden quote on his site which I liked so much I added it to mine. Describes "Think Like an Owner" perfectly:

"I think that one of the things that is missing, and one of the things I have discovered is that there's a substantial distinction between people...