00:00 Enthusiastic about self-improvement and non-fiction books.
03:14 Realized potential in established businesses through systems.
07:13 Realized lack of control in 2020, 2021 change.
12:05 Seeking established business with specific criteria in mind.
14:49 Proactively pursued 100 deals, reviewed 40.
17:30 Successful business acquisition, minimal risk and surprises.
19:49 “Focus on potential, not just historical data.”
23:17 Neglected operational details can sink a business.
27:44 Business owner emphasizes importance of practical SOPs.
30:40 Hiring, nurturing talent vital for business growth.
33:33 Overcoming stress, prioritizing health and control.
36:04 Appreciate your inspiring story and future plans.
41:24 Surround yourself with motivated, action-oriented professionals.
43:10 Met through Facebook, built friendship, crazy journey.
– Proactive Deal Search and Selection
– Requesting and Qualifying Deals
– Due Diligence and Criteria
– Submitting Letter of Intention (LOI) for Business Acquisition
– Decision to Start Own Business
– Transition from Employee to Business Owner
– Personal and Family Support
– Criteria for Choosing a Business to Purchase
– Acquisition Process and Integration
– Identifying Suitable Business
– Inheriting and Building a Strong Team
– Hiring and the Importance of Standard Operating Procedures (SOPs)
– Balancing Work, Family, and Health
– Personal Impact and Challenges
– Prioritizing Self-Care and Wellness
– Achieving Work-Life Balance
– Business Growth and Operations
– Leveraging Old Relationships for Growth
– Internal Marketing Team and Growth Expectations
– Future Investment Plans and Business Development
– Lessons Learned from Business Acquisition
– Surprises and Adaptability
– Importance of Human Capital
– Networking and Collaboration Opportunities
– Personal Background and Entrepreneurial Journey
– Corporate Career and Influences
– Interest in Acquiring Small Business
– Decision and Mindset Shift towards Acquiring Business Full-Time
Links:
https://www.scholesmarketing.com/