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Think Big, Buy Small
Listeners’ Questions, Rick and Royce's Answers
Sep 9, 2024
Rick and Royce tackle listener questions about transitioning from academia to acquiring businesses. They delve into the pros and cons of self-funded versus traditional searches, sharing common pitfalls to avoid. The conversation shifts to the complexities of valuing small businesses and the importance of real estate in acquisitions. They also explore entrepreneurial opportunities in emerging markets, underscoring the need for local knowledge and flexibility. Finally, they reflect on key lessons learned, including debunking myths around the risks of buying established companies.
59:13
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Quick takeaways
- Personal preferences and geographic familiarity significantly influence acquisition searches, making local areas like New England appealing for searchers.
- Understanding the distinction between self-funded and traditional searches is vital, as it affects company targeting and equity ownership during acquisitions.
Deep dives
Navigating the Search: Geographic and Industry Considerations
When considering where to search for a company to acquire, personal preferences and geographic familiarity play significant roles. One host expresses a desire to search specifically in New England due to personal attachment to the area, emphasizing the importance of geographical convenience in the acquisition process. Moreover, they highlight the potential for uncovering smaller businesses that might be undervalued, particularly those with profits around a million dollars. The focus here is on finding businesses that not only generate revenue but also offer opportunities for hands-on management and involvement.
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