Action Academy | Millionaire Mentorship For Your Life & Business Why Most People Should NOT Buy a Small Business (And How to Know if You’re Different)
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Sep 3, 2025 The podcast dives into why buying a small business might not be the best move for most people. It highlights common misconceptions, particularly the false idea that low-priced ventures are low-risk. Listeners are encouraged to explore their entrepreneurial traits and develop essential skills for success. The importance of an active mindset versus passive investment is emphasized, urging potential buyers to embrace challenges. Additionally, exciting webinars for aspiring business owners are promoted to support their journey.
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Reject Passive Income Myths
- Do not buy a business expecting it to be 100% hands-off or purely passive.
- Treat business buying as a path to massive income, not passive income.
People Skills Are Nonnegotiable
- Avoid buying a business if dealing with people drains you because businesses are people-driven.
- Hire or partner with a people-person only if you can still handle oversight and accountability.
Prepare For Constant Stress
- Don't buy a business if you crumble under stress or dislike variability.
- Expect an emotional rollercoaster and constant problem-solving as core parts of ownership.