Heyo,

I read Carol Dweck’s book Mindset earlier this year.

Incredible book that completely changed the way I see things. It’s a book I reread every year. It’s that good.

Fixed Mindset vs. Growth Mindset

Here are a few insights.

→ Fixed mindsets view education, smarts, talents, and intelligence as fixed. Either born with it or not. Avoid hard stuff in case you fail.

→ Growth mindset thrives on tough problems, and challenges and sees failure as learning. You learn or unlearn anything. True Growth is always possible.

We can be either mindset in different environments. The point is to be conscious of what mindset we’re in, make the necessary changes, and be aware of what situations trigger different feelings and thoughts.

You can grab this book using this link.

Applying this to your search

I’ve met some incredibly motivated searchers over the past few months. They are seeing more deals in 3 months than others in 2-3 years.

They are getting reps in. They are constantly changing, learning, and reaching out.

Tip of the day

Right now, current interest rates are higher than a few years ago. (Duh. Yeah of course Ryan)

If you are using an SBA loan….

Your deal will not pencil out at anything above 3.5x UNLESS…

You bring more money to the table yourself, investors, or through earn-outs/seller notes.

Use this number to save yourself a ton of time.

Ian and Max are some of my favorite people. We’ve been internet friends for years and even had their Grandpa on the podcast 3 years ago. They built an awesome agency, saw inefficiency with their clients, and bought into one of their client’s businesses.

You know an agency is good when they get into the equity game.

Podcast Nuggies we dive into…

• Starting as an Agency and Buying their Clients’ Businesses

• Massive Bets with Acquisitions and 11th-hour Freak Outs

• Working with Families

• How to Create Successful Partnerships

   

   

1. Over "55 years" In operation, serving the Northwest!

Asking: $2.6 M

Revenue: $3.3 M

Cashflow: $700K

What I like…rarely are businesses in business that long. It is good and bad. On the one hand, shows longevity and they truly might not have as much competition as they say.

On the other hand, this boat had been rowing in the same direction in terms of culture, size, and market forever, how much meat is on the bone here for you?

It talked a lot about new opportunities to grow through gov’t contracts but if they haven’t done that in 55 years, they probably can’t start now. Who is doing those contracts? There must be competition.

Click Here To View The Listing »

2. 5-Year-Old Finance Content Site | 145% YoY Growth | Diversified Revenue

Asking: $1.7 M

Revenue: $500K

Income: $500K

What I like…finance sites can be crazily profitable and usually demand higher-than-average valuations and prices.

The 45% ads and 55% affiliates are quite attractive.

With the owner being Canadian, this is best for a Canadian buyer. It’s common in Canada to buy the stock of the business vs. an asset sale because the taxes can be so high (like 50% or something but don’t quote me on this). Asset

Sales are much more common in the USA since you won’t have as much tax, payroll, legal, and whatever else liability you can think of.

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3. Highly Successful Four Seasons Retail Business with $500K Inventory

Asking Price: $1.5 M

Revenue: $1.4 M

Cashflow: $400K

So we don’t normally highlight retail stores but this one is interesting.

What I like….They highlight an 8,000 customer database which is fascinating if true. Comes with $500k of inventory and a ‘high’ inventory turnover rate of 50%. I do not know if that’s good. It probably is in retail and home furnishings.

I wonder what role the owner plays in this business. If they are friends or the go-to person for customers then this business is extremely difficult to switch hands.

I also question if the owner is the lead interior designer here which means she would have the relationships and experience with all the customers. Like if I go to my dentist, I can’t get some basic stuff done by the hygienist but I still need to see the dentist for anything big.

The lease is steep so the location must be good and my last piece of worry is the 2 employees. How can you have a 14k ft store with 2 employees?

Click Here To View The Listing