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Latest Episodes:

What is the Story with Add-Backs? Oct 28, 2021

Show notes

If you are looking at businesses for sale, you'll notice a lot of add-backs. Some will make sense and others won't. You need to educate yourself on how to dig through the data.

In the end, the buyer needs to operate the business the same way the seller operates the business.

"Owner add-backs are items that they claim you should not need to pay once the owner leaves the business" - Michell Baldrige

Episode Resources

https://quietlight.com/3-types-of-addbacks/#ftoc-the-3-levels-of-addbacks-for-ecommerce-businesses
https://www.dummies.com/business/corporate-finance/mergers-and-acquisitions/what-add-backs-are-legitimate-in-an-ma-deal/
http://letsbuyabusiness.com/video
https://www.liveoakbank.com/
Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

The 4 Pillars of Value for an Acquisition Oct 21, 2021

Show notes

Time and time again buyers evaluate businesses on a few main criteria. It's called the 4 Pillars of Value and it helps determine whether a business has a high multiple or lower multiple.

1. Risk Mitigation 2. Growth Prospects 3. Transferability 4. Documentation / Verifiability

This is a framework from Quiet Light which I've linked to their blog below.

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
https://quietlight.com/four-pillars-infographic/
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

Jim Oliver - What is Infinite Banking and How to Buy Assets (Businesses) With It Oct 19, 2021

Show notes

Jim Oliver has quite the entrepreneurial journey. He owns 22 businesses. Yes, 22 businesses. Jim finds great talent and then overpays them. We spend most of our time on what is known as infinite banking.

We dive into… - What infinite banking is - How it works to buy more cash flow producing assets - Cash Flow vs Savers

You can follow Jim here at CreateTailwind.com and the Breakaway Wealth Podcast.

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Jim's Website - www.createtailwind.com
YouTube - https://www.youtube.com/channel/UCapodHWwvTZzkSsULCylieQ
Breakaway Wealth Podcast: - https://podcasts.apple.com/us/podcast/breakaway-wealth-podcast/id1438575465
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

Keeping Your Day Job While Buying an Online Business + Exit - Jennifer Anderson Interview Oct 12, 2021

Show notes

Jennifer Anderson is a listener of the podcast. She's super cool and has a traditional career but on the side has bought, built, and now SOLD an online business. Jennifer packs in the value and gold nuggets in this short episode.

Episode Resources

https://quietlight.com/
https://empireflippers.com/
https://feinternational.com/
https://www.bizbuysell.com/
https://flippa.com/
http://webequityshow.com/
https://investing.io/patey/
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

Evaluating eCommerce Acquisition Metrics with Matt Putra Oct 07, 2021

Show notes

Matt Putra is an eCommerce expert and fractional CFO for eCommerce brands. He's built, bought, and consults for many eCom brands.

We dive into…

— Typical eCom Margins — eCom Must-Haves (Gross Margin, Email Lists, Areas for Improvement) — eCom Nice to Haves (VIP Groups, 30% Customer Retention, 3 to 1 customer lifetime value over acquisition costs

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Show Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie
Connect with Matt Putra
https://www.linkedin.com/in/mattputra?originalSubdomain=ca
https://keepnaturewild.com/
https://www.eightx.co/

Can I Buy a Business with No Money Down? + Other Common Question with David C Barnett Oct 05, 2021

Show notes

David Barnett has been an owner, broker, buyer, seller, and everything in between. He's written a dozen books or so about buying and building companies. This is a fun conversation.

We dive into questions such as…

— Are small businesses a better investment than properties? — Is this a good business? — I've heard you can buy a business with zero down. Is that true? — Are there businesses I can buy while keeping my day job?

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
David C Barnett - https://www.investlocalbook.com/
http://ukbusinessbrokers.com/business-acquisition-courses/
David's YouTube Channel - https://www.youtube.com/channel/UCbR8hQfFxBI4Idh4Zw65yZQ
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

7 Business Purchases in 10 years - Walker Deibel Interview - Author of Buy Then Build Sep 30, 2021

Show notes

One of the most popular episodes of last year was Walker Deibel.

I talk a lot about Walker Deibel, his book, and his courses. Now we have him live. Walker is a phenomenal entrepreneur and has seen incredible success through his acquisitions. He also sees 100's of businesses as a lead broker for QuietLight Brokerage.

Walker talks about how to stand out as a buyer, why personal guarantees are required, and how to make sure you aren't missing any pieces to the puzzle when looking at operations.

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
www.BuyThenBuild.com
Buy Then Build Book - https://amzn.to/2VSQrau
6 Months to CEO - https://courses.buythenbuild.com/?ref=ee4f9d
Acquisition Lab - http://acquisitionlab.com/
Bio - https://www.quietlightbrokerage.com/advisors/walker-deibel/
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

How the Wealthy View Money - Accumulation VS Utilization - Stephanie Walter Sep 28, 2021

Show notes

Stephanie started in insurance and left the corporate world when asking for a raise and she was denied. She left and built an insurance agency which led to an exit 16 years later.

Stephanie then sold her business after she realized the different ways the rich view money and started putting things to use therewith cash flow investing.

We dive into…

— Exiting her business of 16 years — Cash Flow over Net worth — View on Money - Accumulation vs Utilization

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Stephanie's site - www.erbewealth.com
Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

Income and Wealth Multipliers - How They Work for You or Against You Sep 23, 2021

Show notes

The value you are creating in your job or business is either being multiplied by a small % or a large %. When you own equity in a business, for every widget you sell today, someone will pay you 3-20 widgets for that one depending on the multiple.

The people I would want to switch career places with all have a few things in common:

High Accountability Work on Interesting Businesses and Projects Own Equity and Have Upside and Downside for their Decisions

Exercise - Figure out if the value you are creating at work is multiplied by 7% - 30% for your paycheck or 3-10x for your payday.

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

Real Business - Due Diligence Deep Dive with Elliott Holland Sep 21, 2021

Show notes

Elliott and I dive into a real deal that was for sale. Elliott has evaluated 1,000's of businesses and has lots of tools and tricks for due diligence on a business. We change the numbers on a percentage basis to keep things anonymous and this is not for sale anymore.

What's fun here is that Elliott is more about where the business is today and the risks and I'm more about the growth opportunities and where the business can be.

— Why Financials First — Is the Juice worth the squeeze? — How to identify the risks and where you are comfortable and uncomfortable.

Episode Resources

Connect with Ryan Condie
http://linkedin.com/in/ryancondie
http://letsbuyabusiness.com/
https://forms.gle/RRcXpe3dK7pNGqv16
Due Diligence Help - https://www.guardianduediligence.com/
Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
Lisa Forrest - Lisa.forrest@liveoak.bank
10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
Ryan Twitter - https://twitter.com/RyanPaulCondie

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