Articles on Practicing Entrepreneurship Through Acquisition
One of the biggest mistakes buyers make is believing they need to see the entire path before they buy a business. They want certainty. They want to know exactly how they’ll grow the company, exactly where the risks are hiding, and exactly what the business
Walk into Garden Works in Ocala, FL, and you’ll find gardening tools everywhere. Pruning shears, garden benches, gloves, and shelves full of inventory. But if that’s all you see, you’re missing the most valuable assets
If buying one business works, why stop at one? The logic feels obvious. Buy a company, stabilize it, buy another, repeat until you’ve built something with real scale. Eventually the thinking becomes: “I’ll build a
Seventy to ninety percent of acquisitions fail to deliver their expected value. A lot of people assume that happens because the buyer overpaid, missed something in diligence, or bought a weak business. Sometimes that’s true.
In 1975, roughly 80% of the value in the S&P 500 came from tangible assets like factories, equipment, inventory, and physical infrastructure. Today, that number has flipped. The majority of enterprise value now comes from
The gap between earning and building wealth is wider than most people realize. Income can grow steadily for years without creating anything that actually compounds. You can do everything right. Build a strong career, increase
“I don’t know… something just feels off.” This is what many buyers find themselves saying after they’ve spent months searching. They’ve reviewed dozens of opportunities, gone through diligence, negotiated terms, and are staring at a
“Nothing’s wrong… it just feels like I’ve hit a ceiling.” I hear some version of that all the time. It usually comes from someone who’s doing really well on paper. They’ve built a solid career,
One of the most common questions I get from buyers is some version of this: “How quickly can I hire someone to run the business for me?” Or more directly: “How do I become an
There’s a moment in almost every search where the numbers start to feel encouraging. You find a business with a few hundred thousand in SDE. The multiple seems reasonable. The cash flow looks “strong.” On
Great buyers look at CIMs like detectives at a crime scene. Tad dramatic, but stay with me. Every acquisition starts with a CIM, and if you’re early in your search, it’s easy to take it
When people talk about buying a business, they usually talk about opportunity. Growth. Upside. Strategy. I don’t start there. Buying a business isn’t buying potential. It’s buying transferability. Transferability is the ability of the company
A guy once told me about his first morning after buying a company with a seven-figure personal guarantee. Every morning, the management team met in the conference room for a huddle. On day one, he
One of the biggest mistakes buyers make is believing they need to see the entire path before they buy a business. They want certainty. They want to know exactly how they’ll grow the company, exactly
Walk into Garden Works in Ocala, FL, and you’ll find gardening tools everywhere. Pruning shears, garden benches, gloves, and shelves full of inventory. But if that’s all you see, you’re missing the most valuable assets
If buying one business works, why stop at one? The logic feels obvious. Buy a company, stabilize it, buy another, repeat until you’ve built something with real scale. Eventually the thinking becomes: “I’ll build a
Seventy to ninety percent of acquisitions fail to deliver their expected value. A lot of people assume that happens because the buyer overpaid, missed something in diligence, or bought a weak business. Sometimes that’s true.
In 1975, roughly 80% of the value in the S&P 500 came from tangible assets like factories, equipment, inventory, and physical infrastructure. Today, that number has flipped. The majority of enterprise value now comes from
The gap between earning and building wealth is wider than most people realize. Income can grow steadily for years without creating anything that actually compounds. You can do everything right. Build a strong career, increase
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