All Episodes

June 19, 2024 37 mins

Takeaways:

 

  • Buying and selling businesses involves challenges and obstacles that need to be navigated.
  • The current market presents opportunities for buyers, especially in the lower end of the market.
  • When buying a business, it is important to stress test the business and consider its performance during past recessions.
  • Involvement in the business is crucial for success, and passive income requires a solid understanding of operations. Developing financial acumen is crucial for understanding the financial aspects of a business and making informed decisions.
  • Reading financial statements and being able to identify red flags or concerns is essential for evaluating the health of a business.
  • Apprenticeships and mentorship provide valuable learning opportunities and can help individuals gain practical skills and knowledge.
  • Successful people share common traits such as a strong work ethic, a willingness to learn and improve, and the ability to recognize trends and execute plans.
  • Running a business does not necessarily require a college degree, and there are many opportunities available in the digital age.
  • When buying a business, it is important to explore financing options such as seller financing and SBA loans.
  • The best time to buy a business is when the right opportunity presents itself, and it is important to be open to learning and pivoting.
  • With $50-100K, individuals can consider buying businesses that generate two to four hundred thousand dollars in revenue.

 

 

Chapters:

[00:00 - 06:14] Challenges and Obstacles in Buying and Selling Businesses

[06:14 - 15:02] Richard Parker's Experience in Deals

[15:02 - 24:22] Stress Testing and Choosing the Right Business

[24:22 - 31:20] The Common Traits of Successful People in the Digital Age

[31:20 -37:01]  The Best Time to Buy a Business

 

 

Let's get connected!

 

You can find me on LinkedIn, Instagram, Facebook & YouTube. Head to Voltage Digital Marketing to boost your brand and sales exposure!

 

CLICK HERE to learn The 5 Big "Shifts" That Allowed Just ONE Private Label Brand to Sell 474,738 Physical Products Since 2012!

 

🚀CLICK HERE To Transform Your Financial Future with Voltage's Elite Amazon FBA Program!

 

 

Keywords: Business deals, Buying and selling businesses, Richard Parker

Mergers and acquisitions, Financial acumen, Passive income, Entrepreneurship

Market opportunities, Financial statements, Mentorship

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