Navigating the Risks of Bankruptcy in Entrepreneurship

Years after one venture ended in failure, Jeff Velker bought a $2.5m pen maker with a strong brand & devoted customers.

Topics in Jeff’s interview:

• His experience as a franchisee
• Bankruptcy after the 2008 crash
• The difference between buying a job and owning a business
• Losing his favorite pen led him to a pen company
• Appeal of pens in our digital age
• Acquiring with 2 partners
• Negotiating with a seller who won’t go lower
• Getting buy-in from spouses
• The risks of having his manufacturer in Taiwan
• His goal of $10M in 10 years

References and how to contact Jeff:

• LinkedIn
• jeff@retro51.com
• Retro 51

Work with an SBA broker who focuses exclusively on helping entrepreneurs buy businesses:

• Matthias Smith of Pioneer Capital Advisory

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Smithlist is a job board for leadership roles at small businesses. If you're not ready to buy a business but want to lead one:

• Smithlist - Operate & Lead a Business

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter