The tools and philosophy I used to buy a business in less than 6 months

Tools and Resources:

Education

First I discovered search via the Sweaty Startup Podcast, particularly this episode:

Podcasts

It’s hard to pick a favorite podcast, and each has been helpful on my journey.

• Sweaty Startup

• Acquiring Minds

• Acquisitions Anonymous

• Beyond 8 Figures

• The Michael Girdley Show

• Think Like An Owner

• In the Trenches

• Small Business and Deal Making Podcast

• Buy and Build

Books

These are the books that inspired and guided me to take the steps necessary to move from employee to employer.

• Rich Dad Poor Dad

• Buy then Build

• HBR Guide to Buying a Small Business

• The Wealthy Gardener

• Never Split the Difference

Blogs/Websites

• Searchfunder → Invaluable if I only had one resource, it would be this one

• Corporate Finance Institute

Computer and Software

• Macbook Air M1 → Bought for battery life and quietness no other laptop offers 21 hours of continuous use

• Libre Office → Used for modeling, teasers, and all publishing and office needs

• MS One Note → Easily keeping notes on all devices and sync’d

• Canva → Logo creation

• Ionos → Website creation and hosting

• Google workspace → Email hosting for aforementioned domain

• Gmass → Email campaigns

• Pipedrive → CRM to keep track of all the communications

Deal Sites and Broker Listings

• Bizbuysell → Where I found my business

Banks

• First Bank of the Lake → Bruce Marks is super knowledgeable, and he delivered as promised

• Live Oak Bank → Lisa Forrest was super helpful and I almost chose her

Due Dilligence

• Duedillio → Where I found my financial due diligence

  • Bob Greisman → Did a fantastic job and fit with what I was looking for, all well under his estimate

• Jim Parsons → Local Maryland attorney who did an outstanding job even though it ended up costing me considerably

• Bill Blumberg → The broker, one of the good ones who values companies honestly and put together a very convincing CIM

401K ROBS Provider

• Mysolo401k.com → I don’t know how they deliver the level of service they provide for the price they charge, highly recommended if you go with a 401K ROBS to fund your injection

My Philosophy

1. To educate myself first in how to acquire a business

2. Build a strong foundation to search from

3. Start the search in earnest, but be efficient

4. Adapt as more knowledge is gained

5. Act quickly once an opportunity presents itself

6. Establish rapport with the seller

7. Keep the big picture in mind while working through the negotiations

8. Drive everyone to the closing table and don’t let time kill the deal