" You've got to have the right deal structure and right relationship with the seller to ensure that you've got longevity in that business.
- Ace Chapman
Episode: CFH005Buying Cashflow Through Digital Acquisitionsw/ Ace Chapman |
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You can be your own boss without starting a business from scratch. Today’s guest, Ace Chapman, doesn’t think you should start a business. He thinks you should buy an existing profitable business and then, improve it to create opportunities for tremendous profit. In this episode, Ace shares how he bought a $70,000 business with only $3,000 in his hands. Learn how to find businesses for sale, how to get them at a good rate, and what he does to improve them as soon as he buys them. You don’t want to miss this one!
Ace bought his first business when he was nineteen. It was an online stock market simulator called CoolWallStreet. After selling it and seeing the benefits in buying a business over starting one, he caught the business buying bug. Since then he has bought and sold over 50 businesses and has helped his clients all over the world buy over 100 businesses!
Ace is the author of the book The Ace Formula: How To Buy A Business. Whether you're buying a business to flip or for long-term cash flow, trying to buy a business with no money down or through a Self-Directed IRA, The Ace Formula will transform the way you think about buying small businesses. According to Chapman, instead of taking the risks of starting a business it is smarter to build your vision on top of an existing profitable business--it's cheaper, more profitable and a very simple science. With the information contained in this book, you'll be in control of your financial destiny.
In this Episode, You’ll Learn About:
Quotes:
“The biggest thing to look out for is having over exuberance about any asset.”
“You've got to have the right deal structure and right relationship with the seller to ensure that you got longevity in that business.”
“The greatest opportunity for a Harvard MBA is to be able to go out and acquire small businesses.”
“Compared to the risk that you take when trying to start a business from scratch, it (buying business) is overwhelmingly easier to start making money quicker, a lot less risk and without the headaches.”
“Find a single business and figure out how to get really great at running that business. That is a game changer for a lot of people.”
“Take more risks. Scale as quickly as possible when you find things that work.”
“Find something that you really enjoy that is gonna pay your bills.”
“Remember what’s really important at the end of the day.”
Links and Resources:
SPONSOR: NoteFlow
FREE strategy session with Trevor McGregor
Ace’s Site
Ace’s Email
Ace’s Instagram
The Ace Formula: How To Buy A Business by Ace Chapman
Number 1 Skillset Needed To Grow An Acquisition
Berkshire Hathaway Letters to Shareholders by Warren Buffett
Ace bought his first business when he was nineteen. It was an online stock market simulator called CoolWallStreet. After selling it and seeing the benefits in buying a business over starting one, he caught the business buying bug. Since then he has bought and sold over 50 businesses and has helped his clients all over the world buy over 100 businesses!
Ace is the author of the book The Ace Formula: How To Buy A Business. Whether you're buying a business to flip or for long-term cash flow, trying to buy a business with no money down or through a Self-Directed IRA, The Ace Formula will transform the way you think about buying small businesses. According to Chapman, instead of taking the risks of starting a business it is smarter to build your vision on top of an existing profitable business--it's cheaper, more profitable and a very simple science. With the information contained in this book, you'll be in control of your financial destiny.
In this Episode, You’ll Learn About:
- How Ace Leveraged $3000 and Bought a $70000 Business
- Current Trends in the Online Space (i.e FBA and affiliate marketing)
- Tips on Buying Cashflowing Businesses
- How to Pivot a Failed Business Deal to Success
Quotes:
“The biggest thing to look out for is having over exuberance about any asset.”
“You've got to have the right deal structure and right relationship with the seller to ensure that you got longevity in that business.”
“The greatest opportunity for a Harvard MBA is to be able to go out and acquire small businesses.”
“Compared to the risk that you take when trying to start a business from scratch, it (buying business) is overwhelmingly easier to start making money quicker, a lot less risk and without the headaches.”
“Find a single business and figure out how to get really great at running that business. That is a game changer for a lot of people.”
“Take more risks. Scale as quickly as possible when you find things that work.”
“Find something that you really enjoy that is gonna pay your bills.”
“Remember what’s really important at the end of the day.”
Links and Resources:
SPONSOR: NoteFlow
FREE strategy session with Trevor McGregor
Ace’s Site
Ace’s Email
Ace’s Instagram
The Ace Formula: How To Buy A Business by Ace Chapman
Number 1 Skillset Needed To Grow An Acquisition
Berkshire Hathaway Letters to Shareholders by Warren Buffett
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