Zero to $1.1B from Flipping Websites | Starter Story
Starter Story
Building Human Connections in Business Acquisitions
This chapter explores the essential human connections and genuine approaches necessary for acquiring a small business. It highlights the importance of understanding sellers' motivations and building relationships beyond mere transactions.
Zero to $1.1B from Flipping Websites
π Make Your First $1 (10x Faster) with Case Studies - https://www.starterstory.com/?utm_source=youtube&utm_campaign=thomas&yts=true π© Business Ideas Newsletter (free) - https://www.starterstory.com/newsletter/?utm_source=youtube&utm_campaign=thomas In this episode I talked to Thomas Smale in his New York City Office to get his story and some advice on how to buy and sell businesses. He's done over $1B dollars in sales without even knowing how to develop a website, and he shares his advice on how to flip businesses, how to negotiate, and how he would start again if he had $0 dollars. This is a perfect episode for anyone who is hesitant on starting a business, and would rather buy one and build it from there. 0:00 - Intro 0:49 - Getting into M&A 2:50 - Self-taught website flipper 4:17 - How he started an M&A firm 5:40 - Using the Pareto Principle to make more money 6:36 - How to buy a business 8:02 - How to spot good businesses 9:46 - Selling a $10M+ business 10:41 - How he got the 8-figure deal 11:23 - How much profit he makes per deal 11:56 - How to value a business 12:56 - Buying a business VS starting one 14:26 - How to negotiate 16:33 - How to buy a business from scratch π Find Thomas π¦ Twitter - https://twitter.com/ThomasSmale πΌ Website - https://feinternational.com SUBSCRIBE for weekly videos: https://www.youtube.com/ @starterstory SOCIALS πΈ Instagram - https://www.instagram.com/starter_story π¦ Twitter - https://twitter.com/thepatwalls
Sharing ideas that make money!
Disclaimer: This podcast is published by a viewer using content from Starter Story's YouTube channel with the goal of making his valuable insights more accessible to those who prefer audio formats, helping more people discover and learn from the insights shared in his videos. It is not an official production of Starter Story. For any requests from Starter Story, please don't hesitate to get in touch.
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