7 Steps to Buying a Small Business

Learning to buy a small business is like learning to do anything.

How do you become a dealmaker?

You go through a series of steps:

1.) First you learn the steps to buy a small business. We teach those in our course which you can check out here.

2.) Then you identify as a dealmaker or small business buyer. You start to tell people you are looking for a business to buy. You own it.

3.) Then you create a goal around buying a small business. "I will close on my first small business acquisition in 2021."

4.) You immerse yourself in it. You read about it, watch videos, join groups that talk about it, or join a mastermind to surround yourself with others that are doing the same. Check out more info on our mastermind group for buying small businesses here:

5.) Practice. Practice. Practice. Look at lots of business deals. Meet with business owners. Study your niche.

6.) Innovate. Start looking at new ways to acquire. Test out a different type of business. Maybe you look at a different type of business like a web page or blog that drives traffic to your brick and mortar business. Maybe you structure a deal in a new way or take on an operating partner to protect your time and increase your freedom to buy other businesses.

7.) Take Big Action. You start to look at deals that are a little bigger than you normally would. As you become more knowledgable and comfortable in buying businesses you are able to take a slightly bigger risk and recognize a bigger reward.

Learn the 5 Most Common Mistakes People Make Buying a Business.