Let's Buy a Business

Time and time again buyers evaluate businesses on a few main criteria. It's called the 4 Pillars of Value and it helps determine whether a business has a high multiple or lower multiple. 1. Risk Mitigation 2. Growth Prospects 3. Transferability 4. Documentation / Verifiability This is a framework from Quiet Light which I've linked to their blog below. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://quietlight.com/four-pillars-infographic/ Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Jim Oliver has quite the entrepreneurial journey. He owns 22 businesses. Yes, 22 businesses. Jim finds great talent and then overpays them. We spend most of our time on what is known as infinite banking. We dive into… - What infinite banking is - How it works to buy more cash flow producing assets - Cash Flow vs Savers You can follow Jim here at CreateTailwind.com and the Breakaway Wealth Podcast. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Jim's Website - www.createtailwind.com YouTube - https://www.youtube.com/channel/UCapodHWwvTZzkSsULCylieQ Breakaway Wealth Podcast: - https://podcasts.apple.com/us/podcast/breakaway-wealth-podcast/id1438575465 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Jennifer Anderson is a listener of the podcast. She's super cool and has a traditional career but on the side has bought, built, and now SOLD an online business. Jennifer packs in the value and gold nuggets in this short episode. Episode Resources https://quietlight.com/ https://empireflippers.com/ https://feinternational.com/ https://www.bizbuysell.com/ https://flippa.com/ http://webequityshow.com/ https://investing.io/patey/ 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Matt Putra is an eCommerce expert and fractional CFO for eCommerce brands. He's built, bought, and consults for many eCom brands. We dive into… — Typical eCom Margins — eCom Must-Haves (Gross Margin, Email Lists, Areas for Improvement) — eCom Nice to Haves (VIP Groups, 30% Customer Retention, 3 to 1 customer lifetime value over acquisition costs Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Show Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie Connect with Matt Putra https://www.linkedin.com/in/mattputra?originalSubdomain=ca https://keepnaturewild.com/ https://www.eightx.co/

David Barnett has been an owner, broker, buyer, seller, and everything in between. He's written a dozen books or so about buying and building companies. This is a fun conversation. We dive into questions such as… — Are small businesses a better investment than properties? — Is this a good business? — I've heard you can buy a business with zero down. Is that true? — Are there businesses I can buy while keeping my day job? Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 David C Barnett - https://www.investlocalbook.com/ http://ukbusinessbrokers.com/business-acquisition-courses/ David's YouTube Channel - https://www.youtube.com/channel/UCbR8hQfFxBI4Idh4Zw65yZQ Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

One of the most popular episodes of last year was Walker Deibel. I talk a lot about Walker Deibel, his book, and his courses. Now we have him live. Walker is a phenomenal entrepreneur and has seen incredible success through his acquisitions. He also sees 100's of businesses as a lead broker for QuietLight Brokerage. Walker talks about how to stand out as a buyer, why personal guarantees are required, and how to make sure you aren't missing any pieces to the puzzle when looking at operations. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 www.BuyThenBuild.com Buy Then Build Book - https://amzn.to/2VSQrau 6 Months to CEO - https://courses.buythenbuild.com/?ref=ee4f9d Acquisition Lab - http://acquisitionlab.com/ Bio - https://www.quietlightbrokerage.com/advisors/walker-deibel/ Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Stephanie started in insurance and left the corporate world when asking for a raise and she was denied. She left and built an insurance agency which led to an exit 16 years later. Stephanie then sold her business after she realized the different ways the rich view money and started putting things to use therewith cash flow investing. We dive into… — Exiting her business of 16 years — Cash Flow over Net worth — View on Money - Accumulation vs Utilization Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Stephanie's site - www.erbewealth.com Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

The value you are creating in your job or business is either being multiplied by a small % or a large %. When you own equity in a business, for every widget you sell today, someone will pay you 3-20 widgets for that one depending on the multiple. The people I would want to switch career places with all have a few things in common: High Accountability Work on Interesting Businesses and Projects Own Equity and Have Upside and Downside for their Decisions Exercise - Figure out if the value you are creating at work is multiplied by 7% - 30% for your paycheck or 3-10x for your payday. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Elliott and I dive into a real deal that was for sale. Elliott has evaluated 1,000's of businesses and has lots of tools and tricks for due diligence on a business. We change the numbers on a percentage basis to keep things anonymous and this is not for sale anymore. What's fun here is that Elliott is more about where the business is today and the risks and I'm more about the growth opportunities and where the business can be. — Why Financials First — Is the Juice worth the squeeze? — How to identify the risks and where you are comfortable and uncomfortable. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Due Diligence Help - https://www.guardianduediligence.com/ Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Patrick, a long-time listener, we connect in San Diego and dive into 4 ways he can find unsexy difficult businesses. I toss in a bonus there too. 1. Where do the owners hang out? 2. CPA, Bookkeepers, Lawyers, Financial Planners 3. Owners know Owners. 4. Mailers Bonus - Suppliers...who supplies these unsexy businesses the raw goods? Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Understanding the Seller's Perspective Can Make All The Difference Event - Tuesday, Sept 28th, 12 PM ET: https://sfcsellermind.splashthat.com/ Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Steve has invested in over 25 different search fund deals. That's a lot. He's also got an incredibly successful entrepreneurial background with multiple exits. We dive into… - Different Types of Search Funds with Pros / Cons - How Investors evaluate deals - Expected Returns for Searchers and Investors Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Connect with Steve Ressler Templates or models: [email protected] Twitter: https://twitter.com/steveressler Newsletter: bit.ly/etamusings

Cam and Sean sold their eCom business in May 2021 after 5 years. We dive into… - Why sell their perfectly good business - The selling process - What they learned about their business from selling Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Cameron and Sean https://www.linkedin.com/in/cameronjarman/ https://www.linkedin.com/in/seanhuntington/ https://twitter.com/cameronjarman09 https://twitter.com/seanhuntington_

2 Offline, 1 Online Business Listings I'm Looking at Right Now 1. https://www.bizbuysell.com/Business-Opportunity/flight-training-center-for-sale/1859092/ 2. https://feinternational.com/buy-a-website/19442-saas-recurring-subscription-data-backup-recovery-software-suite-215k-mrr 3. https://www.alpinebusinessbrokers.com/towing-business/ Episode Resources www.liveoakbank.com 10 Step Video series to Finding a Company to Buy Connect with Ryan Condie http://linkedin.com/in/ryancondie https://twitter.com/RyanPaulCondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16

Lisa is back with over 30 years of SBA lending experience. We dive into the From Searcher to CEO doc that Live Oak Bank just published. It's Part 1 but here are a few key points. — Key dependencies that are often overlooked in SMB — Where searchers mess up with working capital Episode Resources Searcher to CEO Guide Self Funded Searcher Lender Office Hours Call, Every Wednesday morning: Register here. Self Funded cashflow model & investment memo training, Every Thursday Morning: Register here. Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16

This is a podcast about buying business. I dive into how to stand out as a buyer to a broker. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Jesse Safir throws down nuggets of gold here. This is a fun convo with someone who bought a business and doesn't paint the rosy picture. We dive into… - The issues with small businesses - Acquiring 9 months before COVID - Endless pivots to save his business over the past 2 years Check out ABGPrint.com for any of your printing needs. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Jesse - ABGPrint.com - Printing Needs. Owner Operated podcast - small business owners about being an owner-operated - https://podcasts.apple.com/us/podcast/owner-operated/id1538405137 Orianna capital - Brochure - http://orianna.sites.boomboxhq.com/files/OriannaCapitalBrochure.pdf Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Sam started a business and then needed an operator as he realized that was not his skill set or his passion. Intersection of operators and capital Deal structures Why buy communities Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie Connect with Sam Bass Sam Bass - [email protected] Twitter - https://twitter.com/thesambass?lang=en

John recently bought a micro SaaS company while keeping his day job. We dive into… His criteria for searching Lessons learned on this first acquisition What he's targeting right now. John is a great follow on Twitter. Check him out below. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Connect with John Hammond Twitter - @johnhammond33 - https://twitter.com/johnhammond33 John's Company - atomicsoftware.co Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] 10 Step Video series to Finding a Company to Buy http://letsbuyabusiness.com/video Ryan Twitter - https://twitter.com/RyanPaulCondie

Henry Johnson bought a Shopify app. Henry is a consummate learner. He has a background in technology sales and is the owner of multiple businesses. Most recently he purchased a Shopify app called PushLast. I've used Shopify for years but never jumped into the app side of things. It's an interesting play for anyone who wants to buy something on the smaller side and not have to go all in. Dive into… - How to find apps for sale - Structure - What didn't work AND… - Why is he buying another one? Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Henry's App - https://apps.shopify.com/pushlast Henry on Twitter - https://twitter.com/talktohenryj Show Sponsor: Live Oak Bank. Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video [email protected]

Disney owns 13 of the top 20 highest-grossing films of all time. They own a huge chunk of TV. Disney did not start those from scratch. They bought them. I do a quick dive into some corporate buying sprees from Disney but every company you've ever heard of (aka large companies) made a bunch of acquisitions to get there. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Articles from Show: https://www.quora.com/Does-Disney-own-anything-related-to-Harry-Potter https://yourmileagemayvary.net/2020/08/15/how-harry-potter-land-almost-went-to-disney-and-why-we-should-be-happy-it-didnt/ https://en.wikipedia.org/wiki/List_of_acquisitions_by_Disney

David Barnett has been an owner, broker, buyer, seller, and everything in between. He's written a dozen books or so about buying and building companies. This is a fun conversation. We dive into… — Don't Start a company from scratch, Buy a Foundational Company First — How to get a deal done — Cash Flow Forecasts — Buyers and Sellers need to Collaborate — SMB's are barely away from falling off a cliff… Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 David's Site - https://davidcbarnett.com/ David's Books - https://amzn.to/2Vd1ddz YouTube - https://www.youtube.com/channel/UCbR8hQfFxBI4Idh4Zw65yZQ Podcast - https://podcasts.apple.com/us/podcast/david-c-barnett-small-business-deal-making/id1234025671 Sponsor Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video [email protected]

Tyler Gillespie lives in Columbia for half the year and Aspen the other half. He's built and sold 2 companies and developed formulas to "Building to Sell" his companies. We dive into… What is Productized Service Starting offline and moving to online businesses Building to sell Building around the desired lifestyle His 2 exits Tyler also has acquired another productized service business. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] Tyler's Business - www.productized.services Free playbook - Productize OS - June 1st Productize My Service Podcast - https://podcasts.apple.com/ca/podcast/productize-my-service-with-tyler-gillespie/id1557687528 Tyler Gillespie - [email protected]

This episode mainly applies to online deals but 12 months ago, there was an absolute low in the industry. Now 12 months later in the middle of 2021, it's the hottest it's ever been. Is it high? Who knows. Is it the new normal? Who knows. SBA deals are not winning nearly as many online deals as before. I dive into why not and how to stand out. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video

Dave Lowell is a different breed of a Financial Planner. He helps you design your financial plan around your lifestyle AND NOT the other way around. You want to build an awesome business while living an awesome life. We dive into… Talking finances Talking what your end game is, ideal lifestyle Why you do certain things Talking money with your spouse Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Dave on LinkedIn - https://www.linkedin.com/in/thedavelowell/ Case Study - https://www.upyourmoneygame.net/case-study Sponsor - Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Dave Lowell - [email protected]

Elliott Holland is a legend in the space and covered due diligence on hundreds of companies. He's down to earth and gives us a playbook for buyers to avoid mistakes. We dive into… The 5 biggest mistakes when buying a company How to stand out as a buyer How to establish working capital projections *HUGE PITFALL for buyers Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Special Offer - http://www.specialofferwithelliott.com/ https://www.guardianduediligence.com/ LinkedIn - https://www.linkedin.com/in/elliottholland/ Elliott Holland - [email protected]

Ujwal Velagapudi bought a sports bar while keeping his day job. It was nuts. No bartender 1 hour before opening on his 1st day. Put an ad on craigslist and luckily someone showed up a few minutes before opening to handle it. That opening weekend was his busiest weekend he ever had. We dive into… How to get a deal done Risk with deals What he would do differently Why everyone thought he was crazy Ujwal is brilliant and moves fast. He knows his comfort level and is ready to move when he sees an opportunity. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://www.hibyron.com/ - VA services, paired up VA who's good, 1.5 hours. LinkedIn - https://www.linkedin.com/in/ujwal-velagapudi-4a457a15/ Ujwal Twitter - https://twitter.com/UjwalVelagapudi Search Site - https://navvuu.com/ Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Ujwal Velagapudi - [email protected]

Joe Valley is a serial entrepreneur, EXITpreneur, author, advisor, and partner at Quiet Light Brokerage, one of the leading online-focused M&A firms in the world. He has built, bought, and sold over a half dozen companies of his own, and has helped thousands of online entrepreneurs achieve their goals. You need to spend $1 - 15 for your education. This is it. $100M. Yes. $100M. We dive into… - What to avoid while selling - Why business owners don't get valuations - Why over 50% of the money you make comes when you sell Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Buy the Book here - https://amzn.to/3zg48Sb Site - Exitpreneur.io Quiet Light Podcast - https://podcasts.apple.com/us/podcast/the-quiet-light-podcast/id1034903908 Chapters - The EXITpreneur's Playbook Intro - https://drive.google.com/file/d/1XyVXIT4UN__ceOGMxJ3MaJwpere9oIbh/view Chapter 3 - Valuation Overview - https://drive.google.com/file/d/1fzjBUnW4BO4CuiHaJzY3hE1nGVgUpF8w/view Chapter 11 - Identify All Your Add-Backs - https://drive.google.com/file/d/1Pzw25GVqfXiFvi6dLI5Pp9GvOZTRRN1I/view Chapter 15 - Structuring the Deal - https://drive.google.com/file/d/1w3mM5QRI80zW1wwvgENmslaW4nbNH24l/view Sponsors: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Joe Valley - [email protected]

Why do people sell a perfectly good business... Other projects Take money off the table Bored Buy a house Start / buy another company ENTIRE network is in one company - diversify In over their heads No time Tax timing Family / Health / Divorce Retiring Other....Business is tanking. This is obvious. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Mushfiq Newsletter - https://thewebsiteflip.com/guide/website-flipping/why-sell-niche-site-reasons Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com Lisa Forrest - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video

Trevor Ewen is a software engineer and entrepreneur. He and his partner are searching for technology-based companies while also supporting other searchers with code review and other technology. We dive into… — Technical evaluations on companies — Why getting an MBA is like dating — How to use his firm if you're not a tech entrepreneur Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Trevor's Software company - STG Software http://southporttechnologygroup.com/ http://trevorewen.com/ https://stg.software/case-studies Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video Trevor Ewen - [email protected]

Ken Greene is an engineer turned finance guru. He was forced into finance and embraced it. He believes business acquisition is underrated (duh) and also why coaches are necessary in all aspects of life. Ken learned the hard way by being amazing in one area and thinking it carried over to all areas of life. We dive into… - Cash reserves - Transitions from career - How to think about acquisitions - Biggest mistakes people make with their finances. Ken actually sold one of his businesses last year too. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Ken Greene Engineer of Finance Podcast - https://podcasts.apple.com/us/podcast/engineer-of-finance/id1323249710 https://www.greenefi.com/ [email protected]

Jen's Acquisition Update. Husband lost his job Partner is gone How she is structuring a tricky seller-financed deal Down payments Growth opportunities AND WHY you need to get so creative as an entrepreneur. "Entrepreneurs are some of the most creative artists in the world." —Chuck Mullins Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://acquisitionlab.com/ - The first do-it-with-you advisory service that is designed to accelerate your business acquisition search. Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - https://gum.co/cUAiZ Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie

Sam Whitney was on the podcast in January and had such a cool entrepreneurial journey. He's selling his company so we do a short episode on what he has learned about taking his company and putting it up on the market. The good. The bad. The ugly. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsors: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Kyberlight Listing - https://quietlight.com/listings/10676358/ https://quietlight.com Sam Whitney - [email protected] Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - https://gum.co/cUAiZ Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie

Josh Kim bought 3 businesses by age 20. That's nuts. He graduated high school at 16 and went straight to college. Josh bought home health and hospice companies and then started to grow through acquisition. We dive into… — How he thought about buying a company — How to win deals — Why he decided to sell What I love about Josh is that he moves fast and knows he can accomplish anything regardless of previous experience or anything. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle market companies. www.liveoakbank.com Josh Kim - Josh on Linkedin - https://www.linkedin.com/in/joshuaekim/ 7accelerator | Joshua Kim | SBA Loan - [email protected] Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: https://letsbuyabusiness.us2.list-manage.com/subscribe?u=b401f6e90528a19faa7b37e87&id=d06532f46c 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie

Luke Hohmann started a business because of a war. He focused his company building on customers first and let the chips and revenue solve problems. We dive into… How to build a business to sell Shifting from consulting to building How to build a company of revenue rather than VC/Angel Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsors: https://acquisitionlab.com/ - The first do-it-with-you advisory service that is designed to accelerate your business acquisition search. www.liveoakbank.com - Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: https://letsbuyabusiness.us2.list-manage.com/subscribe?u=b401f6e90528a19faa7b37e87&id=d06532f46c 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie Connect with Luke Hohmann [email protected] https://firstroot.co/ - Kids Financial Literacy LinkedIn - https://www.linkedin.com/in/lukehohmann/

I dive into the 4 types of luck, 100% accountability, and how luck has played a role with 2 big successes of mine. Moving into an apartment in college and starting this podcast. Blind luck Luck from hustling Luck from preparation Luck from your unique character Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Sponsors: https://www.liveoakbank.com/ https://acquisitionlab.com/ Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: https://letsbuyabusiness.us2.list-manage.com/subscribe?u=b401f6e90528a19faa7b37e87&id=d06532f46c 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Naval - Luck - https://nav.al/money-luck Naval Twitter - https://twitter.com/naval Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie

Jacob Erdei has done it all in the online business space. In his words, he hit a lot of singles and it turned out well. Jacob is in the middle of creating a 3PL which is so rad. We dive into… Carpet Cleaning to Computer Repair Entrepreneur What needed to happen to quit his day job How a career of singles can be pretty awesome Mistakes along the way Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://acquisitionlab.com/ www.liveoakbank.com LinkedIn - https://www.linkedin.com/in/jerdei/ Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie Jacob Erdei - [email protected]

Simon Stock is one of the best follows on Twitter based on his stock analysis, inflation breakdowns, and how the economy works. He took his business profits and invested them in the stock market for passive income through dividends. We dive into... -- How he built his business and then sold it -- 2 types of Inflation - 1. Demand-Pull Inflation and 2. Cost-Push Inflation. -- FED and Unemployment Numbers -- What stocks he likes (none haha) -- How to protect yourself against inflation. PRODUCTIVE ASSETS. EQUITY. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://www.liveoakbank.com/ https://acquisitionlab.com/ Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Warren Buffet - Letters to Shareholders - https://www.berkshirehathaway.com/letters/letters.html Simon Twitter - https://twitter.com/ssstock Simon Stock - [email protected]

How to find a business partner...I breakdown the good, the bad, the ugly in working with partners. I dive into... - Network is crazy. - Everyone knows what you're doing... - Align Vision / Goals - Complementary Skills - Handling Disagreements - Work Together Before Partnering - Partnership Operating Agreement - Be the partner you want to be Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://www.liveoakbank.com/ https://acquisitionlab.com/ Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie 10 Step Video series to Finding a Company to Buy - https://gumroad.com/l/cUAiZ Operating Agreement Example - https://docs.google.com/document/d/1bdldRFc1BIp_-ll4er35_x1ENerZDbWQlE-IcLnS-k0/edit

John bought his family's plumbing company and has since bought 5 other companies which led to over 900% revenue growth. We dive into: — Buying a Family Business + Valuations — Doubling his business overnight through Acquisitions — How to scale past $3M with Systems You're going to want to follow John on Twitter and the inter webs. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://www.liveoakbank.com/ https://acquisitionlab.com/ Host: Owned and Operated podcast - https://www.ownedoperated.com/ John Twitter - https://twitter.com/WilsonCompanies John's Companies - https://www.thewilsoncomp.com/ Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter Jen's Twitter - https://twitter.com/Anderjen Ryan Twitter - https://twitter.com/RyanPaulCondie John Wilson - [email protected]

Lisa Forrest has been doing SBA loans for decades. She has seen it all. Lisa is hyper-focused on this searcher community and specializes in getting deals done with searchers, which is you. That's why you are listening. We dive into… -- Self Funded vs. Traditional Search -- Deal structures for deals between $1M to $12M -- Real Life Structures -- How best to work with lenders And many more. Lisa is also so full of awesome energy. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://twitter.com/RyanPaulCondie Schedule a call with LISA FORREST - https://outlook.office365.com/owa/calendar/LiveOakBankingCompanyLisaForrestSponsorFinance@lob3.onmicrosoft.com/bookings/ Self Funded Searcher Lender Office Hours Call, Every Wednesday morning Register here: https://liveoakbank.zoom.us/meeting/register/tJIsdumtqjIvHNUBSYO6eFSGQfO-rHqsrZuG Self Funded cashflow model & investment memo training, Every Thursday Morning Register here: https://liveoakbank.zoom.us/meeting/register/tJErc-mrrzgjHdzPRnGTfWHMsSPX0gavpcE6 SBA / Conventional Debt Structures Kellogg ETA Conference 2021 - https://www.youtube.com/watch?v=f6L02UTbU30&feature=youtu.be Survey - http://letsbuyabusiness.com/survey Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter https://twitter.com/Anderjen Lisa Forrest - [email protected]

Freddy scaled his commerce brand to 7 figures while living abroad in Mexico City. He then sold it to focus on building/acquiring his next business. We dive into: Building a network around you with like-minded people Putting yourself in uncomfortable situations for growth Finding your own path Freddy is super cool and can be found at pointspanda.com. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Find Freddy Here https://pointspanda.com/ [email protected]

Jenn and Ryan dive into the state of the market, what they are looking for, what they are avoiding, and how to stand out. Spoiler: Jenn and Ryan are actually approaching the market differently. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://twitter.com/RyanPaulCondie https://twitter.com/Anderjen Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter Sponsors: https://acquisitionlab.com/ https://microacquire.com/

Will Taylor Jr. is a fantastic entrepreneur. He walked into a gym to join it and ended up buying the gym instead. We dive into... — Being the dad that's in the memory book — Working with your spouse — How to start your business while doing your day job — Why expand into 2 locations — Why sell your business? Will started Taylor Green Media to help gym owners across the country. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://twitter.com/RyanPaulCondie Stay Up to Date Newsletter: http://letsbuyabusiness.com/newsletter Sponsors: https://acquisitionlab.com/ https://microacquire.com/

We hired a CEO for our business. Life changes. Goals change. My partner and I over the past 2 months have had other opportunities start to take massive amounts of time. I dive into how we hired them, how we tested working with them before, details about the offer and structure. Episode Resources https://acquisitionlab.com/ Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://twitter.com/RyanPaulCondie

I dive into tactical ways to find an off-market business for sale. You are positioning yourself as the solution for people to retire. You are their retirement. Reach out to 5-10 owners Make sure you want this lifestyle / solve those problems Find out where they hang out Virtual - FB Groups, Sites, Forums, Newsletters. Conferences / Tradeshows Advertising on Trade Magazines and sites, small budget dedicated PPC targeting owners. Now, action. Move fast. 2 days to 2 weeks to get the ball rolling. Episode Resources https://microacquire.com/ https://acquisitionlab.com/ Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://twitter.com/RyanPaulCondie

Matt Remuzzi started CapForge, wonderful bookkeeping, and CPA firm. He has helped 100's, maybe 1000's of buyers and sellers with their books. I started to use them when I bought a business that had their books done by them. It was THAT convincing. Matt and the CapForge team can help you in due diligence and his unique perspective as a business owner is not just about numbers. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Matt Remuzzi Capforge - https://capforge.com/lets-buy-a-business/ [email protected]

Peter Lohamnn is amazing. He transitioned from a great career as an engineer and focused on building out his real estate portfolio. Peter then doubled down on his property management company. We dive into: - How to find a partner - How to bridge the gap from quitting your day job to pursuing your entrepreneurial dreams - How to acquire competitors Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Peter Lohmann www.Peterlohmann.com Owner Occupied - https://podcasts.apple.com/us/podcast/owner-occupied-with-peter-lohmann/id1554806227 https://twitter.com/pslohmann

Kevin Oh has been an online business broker since 2016 with FE International. He's seen 100's if not 1000's of businesses across dozens of countries. We dive into how to stand out as a buyer, the trends in the space, how to structure larger ($5-10M) deals, and what to expect from FE International.com. Kevin was the seller's broker on my deal from 6 months ago. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://microacquire.com/ https://acquisitionlab.com/ Connect with Kevin Oh https://feinternational.com/ https://www.linkedin.com/in/kevin-oh-cfa-20353b2b/ [email protected]

Do you ever chat with someone and know they are going to be famous or insanely successful one day? Connor is one of them. Connor Gross is making huge moves. He built and sold his first company while in college which opened up massive opportunities. We dive into his exits, his 2 acquisitions, and how he hires CEO's and GM's to run these businesses. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://microacquire.com/ https://acquisitionlab.com/ Connect with Connor Gross https://twitter.com/c_gro https://podcasts.apple.com/us/podcast/the-next-generation/id1544955540

Kevin McArdle went from a VP in Health Tech to starting a fund to acquire 39 businesses in 5 years. SureSwift Capital is changing the speed and the way SaaS acquisitions and roll-ups are done. Here we dive into his back story, why make a shift from a perfectly good career, and how he positioned himself to take risks with mouths to feed. This is one of my favorite episodes and if you aren't following him on Twitter, get on it. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ https://forms.gle/RRcXpe3dK7pNGqv16 https://microacquire.com/ https://acquisitionlab.com/ Connect with Kevin McArdle https://twitter.com/Kevin_McArdle https://www.sureswiftcapital.com/ [email protected]