Mergers & Acquisitions – They say selling a business is an art – we’ve turned it into a science
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When it comes to buying a business, what are the top considerations and pitfalls to avoid? Jon Stoddard, an investor, serial acquirer, and host of the podcast Top M&A Entrepreneurs, joins M&A Talk to discuss buying small businesses, including the risks, lessons he has learned, and the rewards of dealing with start-ups. Jon discusses the differences in on-market vs. off-market deals, the importance of deal flow, raising capital, finding investment money, and the idea of buying a business with no money down.
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| 1:37 How often does buying a business with “no money down” happen in the real world? |
| 3:30 Where did the myth of “no money down” come from? |
| 4:56 What kind of business owners are typically willing to sell their business with no money down? |
| 15:30 What are some lessons, challenges, and benefits of being an entrepreneur or running a start-up business? |
| 26:00 How does raising capital for over-the-counter (OTC) stock companies work? |
| 34:12 How important is timing when considering buying a business? |
| 37:25 What is “social capital” and how can an entrepreneur build it? |
| 39:10 How long should it take to buy a business? |
| 42:10 What character traits are required to be a successful buyer? |
| 43:13 Which is preferable – on-market or off-market deals? |
| 46:31 Why is it so difficult to buy a business? |
| 49:50 How important are the financial report cards, balance sheets, and financial statements of potential acquisitions? |
| 56:31 How are deals typically structured, looking at bank financing, SBA financing, and seller financing versus earnouts? |
| 1:04:26 What is the most important takeaway for buyers of small businesses? |
Jon Stoddard is an investor, serial acquirer, business buying coach, and host of the Top M&A Entrepreneurs podcast. His first acquisition ended abruptly when Yahoo changed its ad policy, so he bought an ecommerce company that he grew and sold on EmpireFlippers. His third acquisition also grew, and he still has a minority option in it. Jon has also worked on startups – he founded a company called TurboSquid, raised $5 million in investments from Intel Advantage Capital, and many years later sold it to Shutterstock. Jon’s current company is DealFlowSystem which he has turned into coaching other Acquisition Entrepreneurs and using LinkedIn to create DealFlow.
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