Beyond 8 Figures Finding Your Voice in the Business Acquisition Space with Lisa Forrest, Live Oak Bank
Unlike start-ups, the failure rate of acquired businesses is minimal. As Lisa Forrest explains in this episode, we are currently in the perfect environment for acquisition entrepreneurs to thrive! Tune in today to hear about the factors that are coalescing to create a solid foundation for acquisition success and what it will take to make your mark in the business acquisition space from someone who really knows!
About Lisa Forrest:
Lisa Forrest is a Co-Director of Sponsor Finance/Searchfund Lending at Live Oak Bank. She has over 30 years of experience in the banking industry, in both SBA and Conventional lending products focused on the unique needs of lower middle market businesses. She is widely regarded as one of the industry's "go-to" resources nationally for her expertise in M&A deal structuring for the Searchfund ecosystem. She is also an avid golfer, outdoor enthusiast, and dog lover.
Episode highlights:
- The “silver tsunami” (the term that is used to refer to the mass retirement of the baby boomer generation) is upon us, which means that it’s time for acquisition entrepreneurs to step up to the plate. If you’ve been considering this path, take this as your sign to go for it! (08:50)
- To make your mark as an acquisition entrepreneur, develop your own voice and point of view in the space, and learn how to do your own cash flow. These are very powerful tools that decrease your dependence on outside parties. (10:52)
- Every economic phase has its own unique qualities. During this current phase, cash flow is king. So, make sure you’re not overpaying or overleveraging. (26:49)
- The failure rates of starting a business from scratch are huge. In comparison, very few acquired businesses fail. So, if you want to increase your chances of success, acquisition entrepreneurship (particularly via the SBA route if you are based in the US) might be a better option! (29:24)
- Just get started! If you’re interested in acquisition entrepreneurship, stop thinking about it and take the leap. One of the best ways to start is to connect with someone experienced in the space (like Lisa if you live in North America). (41:20)
Lisa’s best advice for entrepreneurs:
“Cash flow is king.” (27:37)
Connect with Lisa:
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