How To Buy A Good Business At A Great Price

About the Episode

Buying a business starts with finding the right business. Best-selling author and experienced acquirer Richard Parker covers the basics a buyer should know before looking at buying a business. He discusses how to arm yourself with the right knowledge and guidance to make educated decisions, the importance of identifying the right business for yourself – one that matches your strengths, how the lack of knowledge can paralyze potential buyers, and the top mistakes people make when looking at buying a business.

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“Anybody who has any inkling of wanting to own their own business owes it to themselves to go through the process to see if it is for them. Spend the time to look at businesses, have conversations with sellers, and decide if you can see yourself running the business. If this is something you really want to do, focus on buying a good solid business that you can continue to operate successfully.”

Richard Parker

In this Episode

2:19 What’s the secret to buying a great business? Is it better to buy an average business at a great price or a great business at an average price?
7:05 What are the top mistakes buyers make when buying a business?
8:56 Why don’t many brokers represent buyers?
12:52  How can buyers get the knowledge they need about the buying process and prepare before they start the acquisition process?
16:44 Is the search the most difficult part of the business acquisition process?
19:56 Is it worth pursuing a business that is not actually listed as being for sale?
22:05 How can a buyer approach a business owner about a business that is not listed for sale?
24:32 What is the most difficult part of the buying process other than the search itself?
29:05 What’s the key to setting the seller’s expectations?
34:04 What sort of questions should a buyer ask as they start to perform due diligence?
40:57 How much smarter and more prepared is a buyer after diving in and owning a business?
42:05 Richard Parker’s top advice to potential business owners.

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Meet Our Guest

Richard Parker

Richard Parker

Author | Investment Banking Executive

Richard Parker, the founder of Roy Street Advisors, is an accomplished investment banking executive with a career spanning over 30 years and 1000 transactions. Before founding Roy Street Advisors, Richard served as Managing Director of P-Squared, a private equity firm funded by the Dalio Family Office. Richard’s journey includes his personal successful acquisition of 13 companies, ranging from $50,000 to $200+ million, and advisory roles in both buy and sell-side transactions surpassing $2 billion.

Richard is also the author of the “How To Buy A Good Business At A Great Price”© series: a course which has sold over 100,000 copies and been used successfully by business buyers in over 80 countries. His insights have been featured in publications such as Forbes and The New York Times, and he has authored over 300 published articles.

Location Location: Boca Raton, Florida USA
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