Buy or Build? | Let's Buy a Business

Hey there,

2024 is off to a bang. We're 1/24th done already. 

Buy or Build?

I get this question a few times a week….for years straight. 
The right answer is that it depends… 

--> On your skillsets

--> Access to capital

--> Desired results

--> Appetite for risk

--> Time horizons

--> Your rolodex

--> Stage of life

Let’s break down a few of these. 

Skillsets - 

One of the best deal makers I know only gets out of bed for businesses he’s built from scratch. He’s also bought 2 businesses in the most perfect structure I’d ever seen. He’s cash flowing like crazy and yet he only cares about businesses he’s started. 

Some of us are builders. 0 to 1. I love those people. They take on the world and believe they can change it. (They usually do in some form) 

Some of us are optimizers, marketers, salespeople, tweakers to improve performance, operational geniuses, systems implementers etc. These are great buyers.

Which one are you?

Which one excites you? (i.e. which one gets you to JUMP out of bed)

It's ok if you find out you only want to build. Better to find that out now rather than post closing...

Access to Capital - 

Do you have money? Do you know people who have money AND WANT to invest in you?

If not, then this gets awkward. Fix that part. (More to come on how to do that)

Going down this path requires some money. Banks, Investors, Sellers. They all want some of your money. Skin in the game.

Every searcher on earth wants a 100% seller-financed business. Well, guess what, you only get this if….

The business sucks. You have worked as the GM for 15 years and have massive trust with the owner. OR you are the son/daughter of the owner.

If not, tough luck. Move on. 

Why would a seller making $80k/month and fishing everyday give you a business that is financed by them? They won’t. Way too much risk for them. 

We’ll dive into how to raise money in our next newsletter…

Here are 3 Great Videos / Resources:

Cash Flow Explained :)

Emotional Home - Tony Robbins (trust me, it's really good). 

Why Engineers Can't Control Rivers - So random but good. 

Let's Buy,

Ryan & Monica

If you made it this far, I'll let you in on a secret. 

The Let's Buy a Business community launched. It's here. 

Access to courses, weekly calls with me (I charge $750 for deal dives), how to raise money, deal dives, and a diverse set of searchers leaning on each other during the search. 

I'll be hanging out every day next week for an hour. Some mornings/some afternoons to shake things up. :)

Use this code: LBaB2000

Saves you 20%...for as long as you are part of the community. :)

But the code is good for 10 days.