In this episode, Tim talks with Tijera Wright, founder of Board and Bougee, about what it actually looks like to go from being interested in buying a business to owning one. Tijera brings the perspective of an entrepreneur who already built her own business from scratch. The conversation stays beginner-friendly while still getting into the real mechanics behind buying a small business.

Tim is an entrepreneur who believes everyone should explore the opportunities that business and real estate can provide on the path to financial freedom. He owns and operates a wine & liquor store, a software startup, a consulting company, and a growing portfolio of commercial and residential real estate.

Tim's passion for independent business has led him to support dozens of other business owners. For over a decade, he has worked with businesses on strategy, processes, finances, and marketing. These experiences, along with analyzing dozens of other businesses for potential acquisition, have provided Tim with an immense knowledge base to pull from.

Tim has appeared on multiple top-tier podcasts in the financial space, such as Bigger Pockets Money and The Freedom Chasers Podcast.

[00:00 – 04:20] Meet Tijera Wright

[04:20 – 08:09] From Interested to Owner

[08:09 – 14:14] Reading Listings and Spotting Red Flags

[14:14 – 20:52] Valuation and Paying for Potential

[20:52 – 29:24] How Seller Financing Works

[29:24 – 33:55] Cash Reserves and Deal Structure

[33:55 – 39:44] Do You Need Industry Experience?

[39:44 – 45:13] Learning the Language of Deals

[45:13 – 49:59] Community and Pattern Recognition

[49:59 – 53:32] Final Advice and Next Steps

Guest Bio

Tijera Wright is the founder of Board and Boujie, a San Diego-based charcuterie and catering business focused on elevated food experiences for corporate events and workshops. Before going full-time into entrepreneurship, she worked as an IT business consultant at a Big 4 firm. In this conversation, she brings the perspective of an operator who built a business from scratch and is now exploring acquisition as a path to long-term wealth.

Connect with Tijera:

Instagram: www.instagram.com/boardand_boujee/

Facebook: facebook.com/boardanddboujee/

Tiktok: tiktok.com/@boardandboujee

Website: boardandboujeesd.com

LinkedIn: linkedin.com/company/board-boujee/

Connect with Tim and the community on social media for more tips and updates:

Website: https://www.powerofbiz.com

YouTube: https://www.youtube.com/@powerofbiz

Instagram: https://www.instagram.com/timtdelaney/

Threads: https://www.threads.com/@timtdelaney

LinkedIn: https://www.linkedin.com/in/timothytdelaney/

Facebook: https://www.facebook.com/timtdelaney

Tweetable Quotes

"Everyone talks about it's so great to buy a business because that is entrepreneurship." — Tijera Wright

"You kind of just you have to, kind of trust but verify." — Tim Delaney

"You don't want to pay for something that's not there yet, you know." — Tim Delaney