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The Money Expert: From $0 to Millions In 2 Years Without Any Hard Work!: Codie Sanchez
The Diary Of A CEO with Steven Bartlett
Buying Business’s the “Pro Way” - Vertical Integration. Turning Liability’s into Assets
The professional way to buy a business involves leveraging one's unfair advantage in their current field. For instance, if someone is in the content business, they should consider turning their existing expenses, like ad purchasing or video production, into assets. This strategy, called a personal P&L review, allows one to acquire a business by identifying synergies with their current activities. An example is given where the speaker purchased a podcast and video production company, increasing its revenue substantially by connecting it with other potential clients. Additionally, when approaching a business for a partnership or acquisition, it is essential to understand its revenue, relevance to their operations, and establish a strong rapport with the owner. This approach ensures that the deal benefits both parties and is a strategic move towards vertical integration.
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