How This Entrepreneur Is Rolling Up Language Services Businesses (Journey from $700K to $20M/Year)

TL;DR

Jordan Evans shares his journey from startups to acquiring language service businesses.

Transcript

hey everyone it's Helen from SMB deal hunter today we have Jordan Evans with us an acquisition entrepreneur who is executing a rooll up in the language Services industry um he's done I think five Acquisitions to date um more to come and I'm super super excited to hear Jordan's story and journey Jordan it's gr... Read More

Key Insights

• Jordan Evans transitioned from unsuccessful startups to acquiring and growing language service businesses, reaching a $20M/year revenue run rate.
• He initially joined his family's small translation business, seeing potential for growth and helping his parents retire.
• Language services is a vast and growing industry, larger than the global music industry, involving translation, interpretation, and multimedia localization.
• Acquisitions are strategically used for geographic expansion and service diversification, focusing on recurring revenue and client retention.
• Jordan emphasizes the importance of trust and relationship-building in acquisitions, particularly when buying from family or familiar contacts.
• He successfully leveraged the SBA 7A loan program for acquisitions, balancing seller financing and equity to structure favorable deals.
• Remote work and offshoring have been integral to scaling operations, with a significant portion of the team based in Argentina and other countries.
• Jordan advises aspiring entrepreneurs to be risk-aware, continuously learn, and leverage networks and resources for acquisition success.

Questions & Answers

Q: How did Jordan Evans transition from startups to acquiring language service businesses?

Jordan Evans transitioned into acquiring language service businesses after joining his family's small translation company. He saw potential for growth and a chance to help his parents retire. This opportunity aligned with his entrepreneurial aspirations, leading him to focus on acquisitions in the language services industry.

Q: What makes the language services industry unique according to Jordan?

According to Jordan, the language services industry is vast and growing, larger than the global music industry. It encompasses translation, interpretation, and multimedia localization, touching various aspects of daily life. Despite its size, it's often overlooked as an independent industry, making it a unique and promising field for business growth.

Q: How does Jordan Evans approach acquisitions in the language services industry?

Jordan approaches acquisitions by focusing on geographic expansion and service diversification. He targets businesses with recurring revenue and strong client retention. His strategy involves building trust with sellers, leveraging SBA 7A loans, and structuring deals with a mix of seller financing and equity to create win-win scenarios.

Q: What role does remote work and offshoring play in Jordan's business strategy?

Remote work and offshoring are integral to Jordan's business strategy. He has successfully built a global team, with a significant portion based in Argentina and other countries. This approach allows for cost savings and access to a diverse talent pool, contributing to the scalability and efficiency of his operations.

Q: How did Jordan finance his acquisitions, and what challenges did he face?

Jordan financed his acquisitions using the SBA 7A loan program, seller financing, and equity. He faced challenges such as negotiating favorable terms and ensuring cash flow stability. Trust and relationship-building were crucial in structuring deals, especially when buying from family or familiar contacts.

Q: What advice does Jordan offer to aspiring acquisition entrepreneurs?

Jordan advises aspiring acquisition entrepreneurs to be risk-aware, continuously learn, and leverage networks and resources. He emphasizes the importance of trust and relationship-building in acquisitions and encourages a strategic approach to deal structuring, focusing on recurring revenue and client retention.

Q: How did Jordan handle the integration of acquired businesses?

Jordan handled integration by focusing on aligning systems and operations while maintaining client and employee goodwill. He emphasizes a thoughtful integration plan, avoiding rushed changes that could disrupt existing relationships. His approach involves gradually implementing operational changes and leveraging common frameworks like EOS for consistency.

Q: What are Jordan's future plans for his business ventures?

Jordan plans to continue acquiring and growing language service businesses, focusing on strategic expansions and maintaining operational excellence. He aims to build a sustainable and scalable business model without immediate plans for an exit, driven by his passion for the industry and long-term vision for growth.

Summary & Key Takeaways

• Jordan Evans shares his journey from working in startups to acquiring and growing language service businesses. He initially joined his family's business, which became the foundation for a successful rollup strategy. The company now operates at a $20M/year revenue run rate.

• The language services industry is vast, involving translation, interpretation, and multimedia localization. Jordan's approach to acquisitions focuses on geographic expansion and service diversification, with an emphasis on recurring revenue and client retention.

• Jordan highlights the importance of trust in acquisitions, particularly when buying from family. He has successfully utilized the SBA 7A loan program and offshored operations to scale the business, advising others to be risk-aware and continuously learn.