E9: If you’ve read an SMB acquisition book you would have been warned that the search normally takes between 1 to 2 years. But what if you were only 4 months of dedicated focus away from closing on your first business purchase?
Well, today’s guest Zach Smith (@RZachSmith) not only proves it’s possible, but he also lays out the blueprint of how you can do the same.
The best part is this conversation was recorded only 2 months after Zach had taken over his new business. All of the highs and lows of the business buying process, as well as the strategies that worked best, were fresh in his mind.
Topics discussed:
• Process debt: The downside of buying an existing business
• Modelling your risk profile to nail your ideal business acquisition
• Transitioning from consultant solopreneur to acquisition entrepreneur
• Acquiring ‘Uber-esque’ companies with a marketplace business model
• Aligning your corporate skillset to your ideal business growth opportunity
• Negotiating seller financing with incumbent business owners
• Pros and cons of asset purchase vs stock purchase in acquiring businesses
• The most important question to ask yourself throughout the acquisition process to stay on track
If you’re in a regular 9 to 5 job right now, but the idea of buying a business excites you – you could be in Zach’s position in 6 months from today simply by executing the lessons from this podcast and the resources recommended by Zach.
Follow along on my SMB journey:
Twitter @JakeMRichards
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