Beyond 8 Figures The Truth About Buying a Business (Most People Won’t Tell You) — with Richard Parker, Diomo Corporation
Jun 25, 2025
In this discussion, Richard Parker, founder of Diomo Corporation, shares his expertise in guiding aspiring business owners through the maze of acquisitions. He emphasizes the common pitfalls in chasing the wrong deals and unveils his '4-4-4-1-1' strategy to maintain focus. Richard highlights five critical filters to avoid disastrous purchases and reveals how to discern whether a business is chaotic or primed for growth. He also discusses the essential mindset shift needed before approaching sellers. This conversation is a must-listen for anyone contemplating buying a business.
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Richard's Startup Journey
- Richard lost $60,000 in the stock market and realized owning a business offered unlimited upside.
- He started his own company, grew it by acquisition, and eventually sold it for a large profit.
Master The 23-Step Process
- Educate yourself thoroughly on the 23 steps of buying a business before searching actively.
- Align your top skillset with a business type that suits your expertise, not just your industry experience.
Discover Your True Expertise
- Meet with many sellers across sectors to discover where your expertise truly lies.
- Avoid confusing industry experience with expertise; focus on your unique skills where you can add value.
