How to Buy a Business Without Spending Any of Your Own Money
Nov 16, 2020
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Did you know that 50% of new businesses fail within the first 5 years? If you have ever wanted to own your own business but don’t feel drawn to the startup life, today’s guest is a serial entrepreneur and investor who shares a different path to being a business owner: buying an existing, already profitable business instead of starting your own from scratch.
Carl Allen has spent 28 years facilitating over 330 business deals worth close to $48 billion, and now devotes his time to helping thousands of people all over the world venture into entrepreneurship by BUYING small businesses without using a dime of their own money.
Keep listening to learn the 3 questions you need to ask to evaluate if a business is worth buying, how you can fund your purchase without spending your own money, and what every entrepreneur at the beginning of their journey needs to know. And for all my fellow bookworms out there, be sure to check out Carl’s book, Zero Down Business Buying Secrets, for a deeper look at what he shares with us today. He was kind enough to give our community a special deal, so go claim your copy for less than $5 at trainwithcarl.com/cubicletoceo!
Connect with Carl:
Favorite Takeaways From This Episode:
- Books every entrepreneur should read.
- Just because you are good at what the business does, doesn't mean you should run the business.
- You don't need money to buy a company.
- What it means to be an owner investor.
- The 4 primary methods of deal organization.
- Before buying a business, seek advice from professionals for detailed evaluations and financing insight.
- The 3 questions to ask yourself before buying a business.
- The difference between SBA and bank loans.
- What every entrepreneur at the beginning of their journey needs to know.
What Did You Think?
What was your biggest takeaway from this episode? Leave a comment below.
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