Entrepreneur Conundrum From Financial Mess to Business Success: Richard Parker’s Journey in Business Acquisitions
Key Questions
(00:59) How did you get started on all of this?
(04:48) Do you also sell any of your businesses?
(05:12) Do you help people learn how to acquire businesses using alternative funding methods rather than just their own money?
(07:11) You help other people buy or get into buying acquisition and companies and stuff. So who is your ideal customer in that?
(08:48) Do you or do you teach, if I acquire a business, am I then... Is it already set up where, let's say, I don't necessarily have to be in the business all the time, so I didn't just buy myself a job type of aspect?
(11:20) How do you get in front of those people who are looking to inquire businesses?
(13:18) Would you feel like now where the economy is projecting and stuff like that would be a good time to buy businesses? And then if so, why?
(16:19) How can you love uncertainty?
(18:19) What are some mistakes or misconceptions that prospective buyers have going into a deal or into your world?
(22:29) What are your goals in the next year or two?
(25:10) What do you feel is your number one roadblock from spreading the word?
(27:22) When you buy your business, let's say I buy a business. For Would you then buy another business within that and then amalgamate them type of idea? Does that make sense?
(29:22) Do you think it's possible to buy up? So a smaller company buy up a bigger company?
(30:56) What's the best advice that you have ever received?
(34:04) How is the process of hiring up gone for you? Have you still had challenges with the hiring choices and stuff?
(35:40) What's the best advice that you have ever given?
(38:16) Is there something that we haven't touched on yet that you did want to talk about?
(41:36) Do you consult for equity?
(42:36) Where can we learn more about you and what you do?
Episode Notes:
In this episode, Virginia Purnell interviews Richard Parker, an expert in business acquisitions with over 30 years of experience. Richard shares his personal story of turning a financial setback into a successful career, buying and selling multiple businesses. He discusses his popular program, "How to Buy a Good Business at a Great Price," and provides practical advice on acquiring businesses with alternative funding methods. Richard emphasizes the current buyer's market and debunks myths about buying businesses without capital. He also highlights the importance of leveraging seller financing and understanding one's skill set in the acquisition process.
Key Points:
- Richard’s journey from losing $60,000 in the stock market to buying 13 successful businesses.
- Insights into his program, "How to Buy a Good Business at a Great Price," and its global impact.
- Discussion on alternative funding methods and the role of seller financing.
- Current market conditions and why it’s an ideal time to buy a business.
- Common misconceptions and mistakes in the business acquisition process.
- Importance of aligning your skill set with the business you acquire.
- Richard’s approach to growth through acquisition and his success with larger companies.
- Personal and professional goals, emphasizing relationships and helping others achieve their business dreams.
Richard Parker
RichardParker.com
Diomo.com
YouTube: https://www.youtube.com/@richardparkerbuybusiness
Facebook: https://www.facebook.com/RichardParkerDiomo
Instagram: https://www.instagram.com/richardparkerdiomo/
LinkedIn: https://www.linkedin.com/in/richparker1/
Virginia Purnell
Funnel & Visibility Specialist
Distinct Digital Marketing
(833) 762-5336
virginia@distinctdigitalmarketing.com