Episodes

I got some great love and some great hate by outlining how to make $500k in 4 years. There are other ways to make that kind of money than buying a business, but I dive into the simple version here. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Jennifer is all business: she's a listener who put an offer on a business. Also, the latest with my deal. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Write 50 things you want to do AND THEN put a price tag next to each one. You'd be shocked how inexpensive some of these things are. I spoke to a very successful individual who has seen great success at several VC-backed companies but ultimately, he just wants to live on the beach with his kids and surf. He's now pursuing buying a company because he can apply his skill sets to his own businesses and get into the lifestyle he wants. Start with the end in mind. Episode Resources Connect with Ry...

Pretty stellar businesses available right now. Here is how Ryan approaches looking at and evaluating these businesses. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

How do you reach out directly to an owner to buy their company? There is an art here, but keep in mind, this is hard to do. I've seen a lot of people do this but you can lose a lot of time and not get anywhere. HAVING said that, I still do it. Here are some tips/tricks. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Wow! This episode is so good! From Raleigh, leaving his high-paying corporate lawyer career, to grinding it out building Escape Rooms and Trampoline Parks. Raleigh talks about his exit and how to go about selling his company. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ Connect with Raleigh Williams https://www.linkedin.com/in/raleigh-williams-32477042/ https://podcasts.apple.com/us/podcast/raleigh-g-audio-experience/id1463899267 rale...

Ryan spoke to a few individuals who want to buy a business in 2 to 10 years. That's great, but the issue was money. You can buy a business with investors. Here are a few thoughts on raising money from someone who has never raised money. Full Disclosure. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Quick update on my deal and the due diligence process AND putting together a partnership agreement. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Buying a company while you have a job and kids and Costco bills is hard. So is life. So is going into a job you hate. You need to figure out where you can cut expenses and activities that are a waste of time. Song was the perfect example of how to stay disciplined in his search. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Song has an incredible story of how he did his search with a full-time job in the LA region. Song had to focus on saying no to nearly everything that didn't fit his criteria while working at 6am and again from 8pm to 1am to find a company. He bought a stellar business in March in the middle of the COVID pandemic. Song talks about what attracted him to the business, how to make quick decisions, and why you need multiple lenders. Episode Resources Connect with Ryan Condie http://linkedin.com/in/r...

Looking for a business can be miserable. You're alone, you don't produce anything, ship anything, sell anything, talk to happy customers and you don't make any money. Keep reminding yourself of your "WHY". My, why is financial freedom, buying, and building an awesome business and having fun while doing it for my family. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Small Deals are riskier, require all cash to buy, and take up the same amount of time as Big Deals. You can cut your teeth on small deals but they can be super hard to do. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Ryan is in the middle of due diligence but he tells a story of one $1M company buying another $1M company and nearly going under when it doesn't go through. You need to establish what the bottlenecks and KPI's are for the deal. If those 4-5 things don't work out, then the deal is dead. DO this BEFORE you incur massive costs from attorneys and CPAs. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

First off, get a great attorney and CPA. Ryan walks through navigating a stock purchase and an asset purchase. Most businesses sub $5M will be an asset sale. In a nutshell, Asset Purchase is typically better for the buyer. Stock Purchase is typically better for the seller. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

After costs, revenue, and customers are verified, you move on to the next tier of due diligence. Ryan dives a little into his partner and his complementary skills. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

Last month, I hit the DIP. I was tired and worn out trying to find a business. My wife helped me push through and realize I was in this for the long haul. Seth Godin talks about the dip when trying something new or hard. YOU have to push through as you are right next to explosive growth and results. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ The Dip by Seth Godin - https://amzn.to/39oDrP1

NOW time for Due Diligence. As my friend Landon Ainge said it best "Due Diligence Well". Verify everything in the past as fast as possible. THEN start predicting the future. Run lots of different scenarios and the likelihood of them happening... Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

My bid from 4 weeks ago was back on the table after two weeks and now I'm a week into being under LOI. We are way deep into Due Diligence. A few key takeaways....you need a network to tap into immediately in given fields and find underutilized assets within businesses. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

50 years in the Aerospace Industry: from getting nearly fired, to buying and selling companies in Aerospace. Jordan always had creative solutions and bet on himself to make things happen. He invested heavily in his employees and gave them a massive upside that led to a $3M acquisition to an $88M sale only 8 years later. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ Connect with Jordan Law jordanlaw42@gmail.com

Rick Jordan is a cyber-security expert, small business owner, host of the podcast All-In with Rick Jordan, AND buys businesses in his space. We dive into hidden tunnels in Las Vegas, how SMB's can avoid cyber threats and his roll-up strategy for cybersecurity firms. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ Connect with Rick Jordan Cyber Crime (Movie on Amazon) - https://amzn.to/3j4wV4n https://www.libertylockdown.com/libertylockdo...

Darren is our attorney from the last episode who also owns an OrangeTheory Fitness franchise. He dives into franchising and what helped him launch into profitability. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ Connect with Darren Neilson Dneilson@parsonsbehle.com Phone: 801-536-6950

Darren Neilson is an acquisition attorney who focuses on bankruptcy sales. He helps transition businesses during bankruptcy and is a wealth of knowledge around legal, acquisitions, and interacting with attorneys. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/ Connect with Darren Neilson Dneilson@parsonsbehle.com Phone: 801-536-6950

You fail in 3 ways in buying a company. 1. Buying a bad business 2. Running out of money 3. Running out of patience. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/

What if you put $100k down, buy a million-dollar business, grow it 10% (super conservative), pay off debt aggressively, then sell it in 4 years for ~$1.2M and pay yourself ~$250k/year for 4 years...Not bad. Episode Resources Connect with Ryan Condie http://linkedin.com/in/ryancondie http://letsbuyabusiness.com/