There are two primary paths to success in business: building a business from scratch or acquiring and scaling an existing one. Acquisition CEO founder, Michael Byars has walked both paths and found the proven model to success.
The serial entrepreneur went from a one-person company to now managing a portfolio of 20 companies making $140 million per year.
So, how did Michael Byars find the proven model for success that business owners strive for?
Michael started his first business in tech at the age of 19, of which he attributes to the mentors in his life at the time. By the age of 21, he had taken his tech company from 2 locations to an impressive 10,000 endpoints and obtained his first acquisition. He was looking to diversify his portfolio and grow his income, so he decided to try buying an already established restaurant— and he has never looked back.
Michael utilized innovative approaches to develop a framework for maximizing market potential. This enabled him to grow the restaurant from $200,000 per year to over $3 million per year. He later sold the company after 9 years at its highest valuation and used the money to buy another restaurant that was also failing at the time of purchase.
Through the operational insight he gained from his first restaurant, Michael quickly grew the second restaurant to over $3 million in sales and over $1 million in profit in the first 12 months and exited shortly after. He coupled the profit from the sale of the two restaurants and the annual profit of the tech company and began buying single-family homes within a 1-hour radius of his office. Michael started with 1 property while purchasing bolt-on companies around the rental homes. He obtained HVAC, plumbing, property management, and general contracting/construction companies to employ synergies between the companies.
In 2020, at the beginning of the Covid-19 pandemic, Michael Byars capitalized on the opportunity to purchase an e-commerce company. With the move to the digital space, Michael felt there were a lot of untapped opportunities in e-commerce and invested in the market. The automation tool he structured created efficiencies in the processing, listing, selling, and distributing over 30K products per day, averaging a revenue of $39 million per month in sales.
Acquisition CEO has launched a mastermind program and course catered to business owners and entrepreneurs. This course is designed to provide a deep understanding of how to grow a business through mergers and acquisitions by leveraging Michael’s 20 years of experience in buying, scaling, and exiting companies for the highest value possible.
The Mastermind program is specifically aimed at educating entrepreneurs on the strategic advantages of acquiring an existing business, rather than starting from scratch. It offers valuable guidance on identifying target companies, negotiating deals, and maximizing value for their business.
Michael’s achievements as a serial entrepreneur and his expertise in business acquisitions can inspire those seeking to enter the business world with a safer and more effective approach. His commitment to supporting others in achieving their goals is commendable, and his eagerness to share his wisdom and experience is a valuable asset for those aspiring to become entrepreneurs.
He states, “At 19 years old, I was fortunate enough to have a mentor who poured into me and educated me on the principles and strategy of entrepreneurship. I have a passion for doing the same for others and changing lives by creating legacy wealth for my mentees.”