#176: Ryan Deiss—How to Scale Your Business and Sell It for Millions
Why That Worked – Presented by StoryBrand.ai
Adding Value in Business Acquisition
When considering buying a business, look for opportunities where you can personally add value in an industry with a client base you are familiar with. Unlike passive investments, running a small business requires active involvement and understanding of the operation. Ensure that the operator's incentive aligns with your goals by offering enough capital to motivate them. Treat business acquisition like real estate investment: passive real estate investment requires significant capital, while active involvement in flipping a house necessitates knowledge and skills. Similarly, success in acquiring businesses hinges on understanding the industry and operational details, akin to knowing the neighborhood in real estate ventures.
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