Finally a realistic video on these topics. Im so tired of hearing influencers and " gurus" talk anout these topics. Its a breath of fresh air hearing david speak some truth
Check out the discussion about Gurus on David's 5th Holiday Chat filmed today! I was fortunate to be a guest on this year's program. Good conversation and you are correct, he brings a realistic perspective, as does Mike Finger... ruclips.net/user/liveysXwpH1yG24?si=E3zUvJm0Dylp2q8i
Idk if I agree with what David's definition of a "good seller". His definition of a good seller is basically finding the PERFECT circumstance. It's like finding a used car that has one owner, extremely low miles with all the maintenance records. Most business owners want to sell their businesses with NO STRINGS attatched hence why theyre selling it. The point is to get rid of the stress. If the person buying it doesn't know how to run the company i DEFINITELY DO NOT want to have to stick around to show him how. What if he doesn't listen? What if he can't learn? Thats arguably MORE STRESS than keeping it. Who knows if the guy buying it is in over his head. The majority of owning a business is having a high stress tolerance. Most men dont have that. I dont want to end up the guys shrink. If I have to stick around and help run it, might as well keep it myself for the cashflow. I do agree that David would be a great broker though since his bar is really high. HOWEVER it could also hurt you since the majority of the high returns come with equally high risk. The returns are in the risk. So as a buyer if you eliminate risk all together you're left with a mediocre return (most likely). I'd like to find a seller that IS NOT running his company to its fullest potential so I can value add. I wouldn't want any ties to him. What if he sees what "could've been" after you fix it. Then he becomes your competitor or even worse tries to sabotage the deal?
I’m looking at a small phone repair shop that has been doing business for 12 years now. Trying to buy from someone who’s about to retire. 210 cash flow and 160 ebitda. The guy wants 100 for it with 40% seller finance
What's funny is people buying a business don't realize how easy it is to launch a website and just start a business selling stuff using paid ads for like 500 bucks
And if you do not have the education and knowledge to do your due diligence by reviewing the company financial, operations, etc. then all I can say there is a market for scammers and the unethical behavior to explore. This will not go anywhere because many people are lazy and expect easy and fast money.
When starting a new business, you have to find product-market fit and customers. And, you need to build working systems. When acquiring a business, you can inherit all of that.
If people do not have the education and knowledge to do your due diligence by reviewing the company financial, operations, etc. then all I can say there is a market for scammers and the unethical behavior to explore. This will not go anywhere because many people are lazy and expect easy and fast money.
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](/img/1.gif)
Finally a realistic video on these topics. Im so tired of hearing influencers and " gurus" talk anout these topics. Its a breath of fresh air hearing david speak some truth
Check out the discussion about Gurus on David's 5th Holiday Chat filmed today! I was fortunate to be a guest on this year's program. Good conversation and you are correct, he brings a realistic perspective, as does Mike Finger... ruclips.net/user/liveysXwpH1yG24?si=E3zUvJm0Dylp2q8i
Idk if I agree with what David's definition of a "good seller". His definition of a good seller is basically finding the PERFECT circumstance. It's like finding a used car that has one owner, extremely low miles with all the maintenance records. Most business owners want to sell their businesses with NO STRINGS attatched hence why theyre selling it. The point is to get rid of the stress. If the person buying it doesn't know how to run the company i DEFINITELY DO NOT want to have to stick around to show him how. What if he doesn't listen? What if he can't learn? Thats arguably MORE STRESS than keeping it. Who knows if the guy buying it is in over his head. The majority of owning a business is having a high stress tolerance. Most men dont have that. I dont want to end up the guys shrink. If I have to stick around and help run it, might as well keep it myself for the cashflow. I do agree that David would be a great broker though since his bar is really high. HOWEVER it could also hurt you since the majority of the high returns come with equally high risk. The returns are in the risk. So as a buyer if you eliminate risk all together you're left with a mediocre return (most likely). I'd like to find a seller that IS NOT running his company to its fullest potential so I can value add. I wouldn't want any ties to him. What if he sees what "could've been" after you fix it. Then he becomes your competitor or even worse tries to sabotage the deal?
The buyer has the leverage the feeling of the seller doesn’t matter
I have been wondering about the Silver Tsunami.
Great Video Neal !!! I have followed David since his first You Tube Video
Thank you! David's channel is incredible, such a valuable resource for the M&A world.
Thanks Alexander!
Incredible conversation.
Glad you enjoyed it! Who should I talk to next? 👀
@@RaleighBusinessBroker Codie Sanchez is the next logical choice.
@@domferretti I’ll see what I can do 😀 would love to have her on
Hi Neal, this was a really good conversation.
Glad you enjoyed it! I'll be doing more like it soon!
Thanks Colette
Wow, Thank you!
You're welcome!
A sober conversation about business buying?! I don’t believe it.
Im looking at a business and im feeling like its a great opportunity. But i also think i could save up more first via stocks. Nervy time
I’m looking at a small phone repair shop that has been doing business for 12 years now. Trying to buy from someone who’s about to retire. 210 cash flow and 160 ebitda. The guy wants 100 for it with 40% seller finance
What's funny is people buying a business don't realize how easy it is to launch a website and just start a business selling stuff using paid ads for like 500 bucks
And if you do not have the education and knowledge to do your due diligence by reviewing the company financial, operations, etc. then all I can say there is a market for scammers and the unethical behavior to explore. This will not go anywhere because many people are lazy and expect easy and fast money.
Selling what?
When starting a new business, you have to find product-market fit and customers. And, you need to build working systems. When acquiring a business, you can inherit all of that.
If people do not have the education and knowledge to do your due diligence by reviewing the company financial, operations, etc. then all I can say there is a market for scammers and the unethical behavior to explore. This will not go anywhere because many people are lazy and expect easy and fast money.