Here’s my game plan: bootstrap and stack. Buy a small service business, grow it, and use the cash flow to buy another. It’s like how private equity folks build empires, but without the fancy suits and corner offices. Focus on industries with low entry barriers—maybe a lawn care company or a niche cleaning service. And don’t sleep on seller training; that six-month runway can save you from face-planting. It’s not sexy, but it’s smart. Slow and steady wins the race, not chasing Instagram pipe dreams.
Business Management Tips
What Happens to Employees When You Sell Your Business?
By Michael Shea – Transworld Business Advisors, Tampa, FL One of the biggest emotional roadblocks in selling a business is this question:“What happens to my employees?” As a business owner, you’ve built a team. Maybe they’re like family. You care about them. So naturally, you’re worried that selling the business might put their jobs at […]
How to Manage Business Ownership While Balancing Life and Family
Owning a business isn’t just a job—it’s a lifestyle. And for many entrepreneurs, especially those raising families, it can feel like you’re being pulled in every direction at once. Kids, spouses, employees, customers—they all need something, and somehow, you’re the one expected to hold it all together.
Be Vanilla
The lesson learned at The Joinery resonated with me: embracing the essence of “being Vanilla” can hold significant value. Understanding your customers’ preferences, avoiding the allure of excessive choices, and focusing on what truly resonates with your audience can be pivotal in business success.
5 Things You Should Never Say When Negotiating a Business Deal
Rushing to close a deal by glossing over details is a recipe for trouble. Skipping due diligence, contract specifics, or financial reviews can lead to costly surprises post-sale. Patience is key in negotiations. Instead of pushing to wrap things up, say, “I want to ensure we’ve covered all the details to make this a smooth transition for both sides.” This demonstrates professionalism and protects your interests.