Hi all,
I’ve watched people buy great businesses and run them into the ground. I have watched people buy mediocre ones and build something worth far more than they paid.
The variable is almost never the deal.
On the newest episode of The Intentional Owner, Kaustubh and I sat with Adam Markley (LinkedIn), CEO of PROX Capital Group, and co-host of our upcoming LIVE—Denver Bootcamp. Adam’s spent a decade in ETA as a searcher, operator, and now investor, which means he’s watched the same people from three different vantage points and can tell you which ones worked out.
A few things we got into:
How well someone communicates during search predicts how they will communicate with customers and employees after close. If selling yourself to a broker is hard, selling to a customer will not be easier.
Seller financing and proper capitalization at close change the trajectory for a first-time owner more than most people expect.
A lot of buyers would be better off owning less of something bigger and properly capitalized than owning all of something small and starved for cash.
Irrational optimism is what gets people into deals. Realistic expectations are what determine who is still standing in year three.
Small businesses are owner dependent. That makes the operator the critical variable, not the structure of the deal.
Jump into a topic:
We hope you enjoy,
Sam
P.S. If you found this useful or know someone who will, please share it with them and encourage them to subscribe.
Follow Our Hosts
Support Our Sponsors
NewCo Risk
NewCo Risk is a specialized insurance brokerage focused on the needs of financial sponsors (including PE firms, independent sponsors, and search funds) and the companies they acquire.
Follow NewCo Risk and the founders
Bay Business Group
Bay Business Group provides managed accounting and finance--think bookkeeping to fractional CFO--for scaling businesses.
Follow Bay Business Group
Thank You!
Thanks for reading and supporting SMBootcamp. We appreciate you taking the time to explore our insights and hope you found this issue valuable. If you're ready to take your acquisition journey further, check out our programs below. We've designed them specifically to give you actionable, real-world frameworks and support to successfully buy and grow your own small business.
From the Blog
Dive deeper into our latest insights, playbooks, and field-tested strategies, all hosted on our site for easy reference.
Visit Our BlogDIY Essentials
Self-paced, online core curriculum for aspiring business buyers. Perfect for those getting started or needing a flexible option.
Learn MoreSMBootcamp LIVE
Our flagship, 3-day in-person bootcamp covering every stage of the small business acquisition process. Hands-on and community-driven.
Learn MoreAll Access
High-touch coaching and accountability for business buyers ready to move fast. Includes personal mentorship and ongoing support.
Learn More