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Action Academy | Replace The Job You Hate With A Life You Love
How James Bought 6 Cash-Flowing Small Businesses ($12,000,000 Rev) Within 12 Months w/ James Richardson
Dec 11, 2024
James Richardson, a business acquisition expert with an impressive track record, shares his journey of acquiring six cash-flowing businesses in just a year. He discusses the retirement wave of baby boomers creating unique opportunities for buyers. Richardson breaks down the importance of business valuation and strategic partnerships in making successful acquisitions. He emphasizes the need to focus on EBITDA rather than just revenue, and highlights the emotional aspects of negotiating with sellers. His insights empower first-time buyers to take proactive steps toward their entrepreneurial dreams.
45:43
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Quick takeaways
- The speaker's shift from a finance career to buying small businesses showcases the importance of pursuing one's passion for financial freedom.
- Understanding business valuation metrics and focusing on aggregated value diversifies risk, enhancing overall portfolio worth and growth potential.
Deep dives
Journey from Finance to Business Acquisition
The speaker transitioned from a 12-year career in finance to pursuing his passion for buying small businesses, motivated by a desire for financial freedom. He emphasized the importance of taking action, noting that he made a pivotal decision to acquire two businesses in a single deal in April 2022. Following his initial acquisitions, he further expanded by acquiring a roofing company and a manufacturing business, demonstrating a clear strategy of building a diverse portfolio. His journey illustrates the significance of having a vision and the courage to act on it, especially when balancing family obligations with entrepreneurial aspirations.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode