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Joshua Lindsey has been active in building and selling companies for the past seven years. Joshua has sold five of his personal companies, including one financial services company he took public in 2006. He is an expert in small business mergers and acquisitions, specializing in deals between $100,000 and $10 million.
Joshua is the CEO of PHX Private Equity, an investment firm that focuses on small business acquisitions, targeting businesses between $500,000 and $50 million. Joshua and PHX on average purchase one small business each year; being that he invests and controls his own capital, he is actively involved in the process. PHX is interested in acquiring businesses in all industries, so long as cash flow is $500,000 and above.
Joshua is also the managing partner and founder of American Business Brokers. ABB is a national full-service brokerage offering buyers and sellers professional representation during the purchase or sale of their business. ABB prides itself with one of the top closing rates in all the country, selling 83 percent of all businesses they represent. Joshua attributes this success to ABB’s relationships with over 200 private equity firms and a personal buyer database of over 5,000 pre-qualified buyers representing $500 million in liquid funds. The majority of these private buyers work exclusively with Joshua and his brokerage ABB to locate and purchase small businesses in Utah.
We decided to ask Joshua a few questions of our own:
Utah Business: Can you share with us your business philosophy?
1. Don’t make excuses, make improvements.
In most cases, things won’t work out the way you want them to. It can be anything from missing revenue projections to launching your product on time and even losing a client. It’s natural to make excuses for why things didn’t go the way you wanted, but that won’t do you any good because it won’t solve your problems. Instead of making excuses, focus on solving the problems. They probably won’t get fixed right away, but as long as you are making improvements, you’ll eventually get there.
2. Don’t stop when you’re tired; stop when you’re done.
You will get tired, and you’ll probably even get burnt out, especially when things aren’t going well. What’s helped me succeed over the years is that I am persistent. It doesn’t matter whether I am exhausted or feel that I’ve put enough hours in the day, I just don’t ever stop until things are done. The moment you stop is the day you fail. As long as you keep chugging along, eventually you will accomplish your goals.
UB: You have had tremendous success at a relatively young age. Is there anything you can attribute that to?
JL: I have a quote that I feel really resonates with my core. “A true champion believes in himself when no one else will.” As any business owner knows, people will doubt you, try to pull you down and even try to prevent you from being successful. It’s critical to be true to whom you are, reinforce your beliefs on a daily basis, and be relentless in your pursuit of happiness.
Joshua has been honored by the Cambridge Who’s Who twice as a top 100 executive under 30 in Utah in the field of business. In 2014 Joshua was featured in the book Entrepreneur on Fire, co-authored by NYT bestseller Tim Ferris. Joshua serves on the Board of Directors for NFL star Paul Kruger’s charity and is an active volunteer in the “Read Today” program, tutoring elementary kids in reading.
Joshua loves his wife Danielle, his son Crue, his new twins Trey & Chantelle and his skateboarding bulldog Cecilsaurus-rex. Joshua wants to acknowledge and thank them for all the love and support they provide; as without them it would be impossible to live his dreams.