Buying a $4m Business (with 80% Recurring Revenue)
Acquiring Minds
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Introduction
This chapter explores the difficulties encountered by acquisition entrepreneurs without industry experience when attempting to purchase a business, and emphasizes the need to persuade sellers and brokers of their ability to swiftly understand the industry and maintain business operations. It also showcases the benefits of possessing industry knowledge, citing the case of Michael Young who effectively acquired a $4 million accounting practice after establishing his own practice for small and medium-sized businesses.
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