In this episode of the Know Your Why Podcast, Dr. Jason Balara sits down with Paul Lajoie, a CPA and seasoned entrepreneur who has bought and sold more than 20 small businesses. Paul shares his journey from corporate burnout to business acquisition, explaining how the desire to support his growing family pushed him to pursue entrepreneurship and financial independence. He unpacks the realities of buying businesses, emphasizing that clarity often comes through action and experience—not waiting until you feel fully prepared.

Paul dives into the mechanics of business acquisition, including diversification strategies to manage risk, the importance of strong tax strategies, and how thoughtful structuring can dramatically impact long-term outcomes. He discusses how small business ownership can become a powerful vehicle for generational wealth when paired with disciplined risk management and smart financial planning. Beyond the numbers, Paul highlights his passion for mentorship, preferring one-on-one guidance to help aspiring entrepreneurs navigate the complexities of ownership and avoid common pitfalls.

Key Highlights:

• Paul left the corporate world to pursue entrepreneurship and financial independence

  
  

• He has successfully bought and sold over 20 small businesses
  

• Taking calculated risks is essential; waiting for perfect clarity can delay growth
  

• Diversification across businesses can reduce risk and create stability
  

• Strategic tax planning plays a critical role in maximizing long-term value
  

• Business acquisition can be a path to building generational wealth
  

• Risk management must be intentional and built into every deal
  

• Mentorship accelerates learning and reduces costly mistakes
  

• Experience is often the best teacher in entrepreneurship
  

• Small business ownership offers meaningful control over financial destiny

This conversation reinforces that business acquisition is not just about income—it is about ownership, freedom, and building something that lasts. Through disciplined strategy, mentorship, and a willingness to step into uncertainty, Paul demonstrates how entrepreneurship can become a powerful path toward financial independence and lasting legacy.

Get in touch with Paul:

[email protected]

If you want to know more about Dr. Jason Balara and the Know your Why Podcast:

⁠⁠https://linktr.ee/jasonbalara⁠⁠  

Audio Track:

Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license.⁠⁠ https://creativecommons.org/licenses/⁠⁠

Artist:⁠⁠ http://audionautix.com/