My First Million I Made $50M Buying & Running Boring Businesses
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Feb 28, 2025 Join Brent Beshore, founder of Permanent Equity, as he shares his journey from a $50K startup to managing nine-figure businesses. He reveals how he once bought a $1M business for nothing and discusses the importance of cash flow in business acquisitions. Brent offers insights on just-in-time learning and the value of stable partnerships. He emphasizes the need for humility in leadership and reflects on the balance between success and failure in investing. Get ready for practical advice and engaging anecdotes about navigating the world of small business.
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Accidental Acquisition
- Brent Beshore bought his first business, a military recruitment firm, accidentally at 24.
- He got a call from someone who knew the owner wanted to sell, negotiated a price, and closed the deal seven months later.
SBA Loan
- Brent Beshore secured an SBA loan by leveraging the business's accounts receivable as a down payment.
- He needed an expedited loan to close the deal quickly, a process he was initially unfamiliar with.
Just-in-Time Learning
- Brent Beshore learned about due diligence and working capital only when he needed to.
- This just-in-time learning approach is how he navigated the complexities of business acquisition.