Action Academy | Millionaire Mentorship For Your Life & Business 10 Steps To Buying Your First Small Business
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Aug 6, 2025 Explore the ten essential steps to purchasing your first small business, drawing from finance and entrepreneurial insights. Discover how to master cash flow and identify lucrative opportunities through passion and community engagement. Learn the intricacies of building rapport with sellers, conducting due diligence, and crafting a powerful Letter of Intent. Gain valuable skills that lead to financial freedom and understand why businesses offer higher cash returns than real estate. Embrace learning and networking as keys to success in entrepreneurship.
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James' Successful Business Acquisitions
- James bought multiple small businesses including a retaining wall, roofing, and concrete paver companies.
- He achieved financial freedom by replacing his salary through these acquisitions and regained control of his time.
Buying Business Means Buying Cash Flow
- Buying businesses means buying years of existing cash flow rather than speculative real estate equity.
- This makes purchasing businesses a more immediate source of cash flow for new investors.
Profit Boost Drives Exponential Value
- Increasing a business's profitability can increase its value exponentially due to valuation multiples.
- Larger, less risky businesses attract higher valuation multiples from institutional buyers.
