Tools and Resources:
Education
First I discovered search via the Sweaty Startup Podcast, particularly this episode.
Podcasts
It’s hard to pick a favorite podcast, and each has been helpful on my journey.
Small Business and Deal Making Podcast
Books
These are the books that inspired and guided me to take the steps necessary to move from employee to employer.
HBR Guide to Buying a Small Business
Blogs/Websites
Searchfunder → Obviously the most valuable. If I only had one resource, it would be this one
Computer and Software
Macbook Air M1 → Bought for battery life and quietness no other laptop offers 21 hours of continuous use
Libre Office → Used for modeling, teasers, and all publishing and office needs
MS One Note → Easily keeping notes on all devices and sync’d
Canva → Logo creation
Ionos → Website creation and hosting
Google workspace → Email hosting for aforementioned domain
Gmass → Email campaigns
Pipedrive → CRM to keep track of all the communications
Deal Sites and Broker Listings
Bizbuysell → Where I found my business
Banks
First Bank of the Lake → Bruce Marks is super knowledgeable, and he delivered as promised
Live Oak Bank → Lisa Forrest was super helpful and I almost chose her
Due Diligence
Duedillio → Where I found my financial due diligence in particular Bob Greisman → Did a fantastic job and fit with what I was looking for, all well under his estimate
Jim Parsons → Local Maryland attorney who did an outstanding job even though it ended up costing me considerably
Bill Blumberg → The broker, one of the good ones who values companies honestly and put together a very convincing CIM
401K ROBS Provider
Mysolo401k.com → I don’t know how they deliver the level of service they provide for the price they charge, highly recommended if you go with a 401K ROBS to fund your injection
My Philosophy
1) To educate myself first in how to acquire a business
2) Build a strong foundation to search from
3) Start the search in earnest, but be efficient
4) Adapt as more knowledge is gained
5) Act quickly once an opportunity presents itself
6) Establish rapport with the seller
7) Keep the big picture in mind while working through the negotiations
8) Drive everyone to the closing table and don’t let time kill the deal
Thanks for reading, if you would like more details on my journey they can be found here: Small Business Acquisition
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