Buying Business’s the “Pro Way” - Vertical Integration. Turning Liability’s into Assets

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

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.

In this new episode Steven sits down with founder, CEO and self-titled "Boring Biz" lady, Codie Sanchez

Codie starter her career as a JFK award winning journalist covering human trafficking. In a career change, Codie entered the world of finance, and is a former partner at private equity firm EEC, and built First Trust’s $1 billion+ AUM Latin America business. She is the Founder of ‘Contrarian Thinking’ and the Cofounder of ‘Unconventional Acquisitions’, which focuses on purchasing small or what Codie calls ‘boring’ businesses as a way to achieve financial freedom. Codie has appeared on CNBC, Fox, Forbes, Fast Company, Entrepreneur, People en Español, Business Wire.

In this conversation Codie and Steven discuss topics, such as: