Let’s Buy a Business

Jed has an incredible skillset in terms of branching automation and development. He has built some great businesses off automation and algorithms. For example, he built a platform that spits out custom data based off of 100's of custom Google Docs.   He also built and sold his web app years ago to a competitor he met at a trade show. Sweet interview.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Need some help buying a business? - https://ryanpcondie.typeform.com/to/DO0J3s45  Connect with Jed Wood  https://www.linkedin.com/in/jedwood/  jed@limechile.com

We dive into how to use your existing 401k to invest or buy a business or real estate. Fascinating topic that is incredibly complex. Frank shoots you straight here.   This is known as ROBS or Rollover as Business Start-ups.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Frank Selden frank@401krobspros.com  https://401krobspros.com/  http://frankseldonlaw.com/

4 pretty solid Online Business Listings I'm looking at right now. https://www.quietlightbrokerage.com/ and https://feinternational.com/    Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16

I get asked a lot about losing money in buying a business. It’s never the goal and never a way to approach anything. Each opportunity is unique and here are a few things to think about to hedge your bets.   Do a deep reflection on the following points.   Risk Tolerance Size of Deal Your Current Skill Sets   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/ Quick survey to make the podcast better... https://forms.gle/RRcXpe3dK7pNGqv16

Spencer and I dive into why it's so hard to measure yourself as an entrepreneur and business owner. Spencer is brilliant (that's why he's my partner, no idea why he's partnering with me) and sheds some great light on how to measure yourself and not 'compete' with someone running a different race.   You take outsized risks (not getting a normal job) with the hope of the payout being 10-1000x more than if you get a 9 to 5.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Guest’s name: Spencer Peterson

Brett is the host of the podcast "Capital Gains Tax Solutions" and dives into Deferred Sales Tax Trusts. Basically, he explains how you save a ton on taxes when selling assets such as businesses or real estate.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Brett Swarts www.CapitalGainsTaxSolutions.com  www.ExpertTaxSecrets.com  Email - Info@capitalgainstaxsolutions.com brett@capitalgainstaxsolutions.com

I dive into 3 local businesses for sale: a Woodworking shop for commercial clients, Home Hospice, and a Gas Station.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 https://www.thefirmadv.com/listing?id=14911 https://bit.ly/3iYrZwF

Nikora Anderson wanted to expand so he looked at 10 companies that were in a similar space locally as him. He reached out to 2 of them, both of them said they were open to connecting about selling their business. Nikora drops some great knowledge on how to approach current owners on buying their businesses.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Nikora Anderson Nikora@theazalea.net  https://www.theazalea.net/

I look at 5 businesses for sale. There are some gems in here. 3 of the 5 are pretty solid businesses.   **I found these by just googling "business brokers in San Diego".   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16

I talk a lot about Walker Deibel, his book, his courses. Now we have him live. Walker is a phenomenal entrepreneur and seen incredible success through his acquisitions. He also sees 100's of businesses as a lead broker for QuietLight Brokerage. Walker talks about how to stand out as a buyer, why personal guarantees are required, and how to make sure you aren't missing any pieces to the puzzle when looking at operations.   Episode Resources Connect with Ryan Condie  http://linkedin.com/in/ryancondie  http://letsbuyabusiness.com/  https://forms.gle/RRcXpe3dK7pNGqv16 Connect with Walker Deibel walker@buythenbuild.com  https://buythenbuild.com/  Buy Then Build Book - https://amzn.to/2VSQrau  6 Months to CEO - https://courses.buythenbuild.com/?ref=ee4f9d  Acquisition Lab - http://acquisitionlab.com/ Bio - https://www.quietlightbrokerage.com/advisors/walker-deibel/