Let's Buy a Business Part 2 - Narrowing Down Your Criteria - How to Buy Your First Business Series
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Sep 13, 2025 Discover the critical step of defining your acquisition criteria to streamline your business search. Learn essential questions to shape your goals, evaluate financial resources, and understand risk tolerance. Hear personal stories highlighting why a seemingly perfect business may not fit your lifestyle. Dive into strategies for aligning businesses with your unique skills and network. Ryan offers valuable advice on starting narrow with criteria and adjusting as needed. Plus, find out if buying a business is right for you!
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Treat The Search Like A Real Job
- Treat your business search like a real job and stop browsing deals casually on your phone.
- Commit time and structure so the search stops being a perpetual side project and becomes actionable work.
Rank Your Goals First
- Define your top goals and rank them to shape your acquisition criteria clearly.
- Use goals (income replacement, freedom, side income) to back into specific business requirements.
Be Realistic About Time Commitment
- Be honest about time availability and whether you need a full- or part-time business.
- Estimate realistic weekly hours before choosing businesses that require hands-on involvement.