Elliott and I dive into a real deal that was for sale. Elliott has evaluated 1,000’s of businesses and has lots of tools and tricks for due diligence on a business. We change the numbers on a percentage basis to keep things anonymous and this is not for sale anymore.

What’s fun here is that Elliott is more about where the business is today and the risks and I’m more about the growth opportunities and where the business can be.

— Why Financials First — Is the Juice worth the squeeze? — How to identify the risks and where you are comfortable and uncomfortable.

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Due Diligence Help - https://www.guardianduediligence.com/
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie 

Patrick, a long-time listener, we connect in San Diego and dive into 4 ways he can find unsexy difficult businesses. I toss in a bonus there too.

1. Where do the owners hang out? 2. CPA, Bookkeepers, Lawyers, Financial Planners 3. Owners know Owners. 4. Mailers Bonus - Suppliers...who supplies these unsexy businesses the raw goods?

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Understanding the Seller’s Perspective Can Make All The Difference Event - Tuesday, Sept 28th, 12 PM ET: https://sfcsellermind.splashthat.com/
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie 

Steve has invested in over 25 different search fund deals. That’s a lot. He’s also got an incredibly successful entrepreneurial background with multiple exits.

We dive into…

- Different Types of Search Funds with Pros / Cons - How Investors evaluate deals - Expected Returns for Searchers and Investors

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Sponsor: Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
• Connect with Steve Ressler
• Templates or models: [email protected]
• Twitter: https://twitter.com/steveressler
• Newsletter: bit.ly/etamusings 

Cam and Sean sold their eCom business in May 2021 after 5 years. We dive into…

- Why sell their perfectly good business - The selling process - What they learned about their business from selling

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Connect with Cameron and Sean
• https://www.linkedin.com/in/cameronjarman/
• https://www.linkedin.com/in/seanhuntington/
• https://twitter.com/cameronjarman09
• https://twitter.com/seanhuntington_ 

2 Offline, 1 Online Business Listings I'm Looking at Right Now

1. https://www.bizbuysell.com/Business-Opportunity/flight-training-center-for-sale/1859092/ 

2. https://feinternational.com/buy-a-website/19442-saas-recurring-subscription-data-backup-recovery-software-suite-215k-mrr 

3. https://www.alpinebusinessbrokers.com/towing-business/ 

Episode Resources

• www.liveoakbank.com
• 10 Step Video series to Finding a Company to Buy
• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• https://twitter.com/RyanPaulCondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16 

Lisa is back with over 30 years of SBA lending experience. We dive into the From Searcher to CEO doc that Live Oak Bank just published.

It’s Part 1 but here are a few key points.

— Key dependencies that are often overlooked in SMB — Where searchers mess up with working capital

Episode Resources

• Searcher to CEO Guide
• Self Funded Searcher Lender Office Hours Call, Every Wednesday morning: Register here.
• Self Funded cashflow model & investment memo training, Every Thursday Morning: Register here.
• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16 

This is a podcast about buying business. I dive into how to stand out as a buyer to a broker.

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie 

Jesse Safir throws down nuggets of gold here. This is a fun convo with someone who bought a business and doesn’t paint the rosy picture.

We dive into… - The issues with small businesses - Acquiring 9 months before COVID - Endless pivots to save his business over the past 2 years

Check out ABGPrint.com for any of your printing needs.

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Jesse - ABGPrint.com - Printing Needs.
• Owner Operated podcast - small business owners about being an owner-operated - https://podcasts.apple.com/us/podcast/owner-operated/id1538405137
• Orianna capital - Brochure - http://orianna.sites.boomboxhq.com/files/OriannaCapitalBrochure.pdf
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy - http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie 

Sam started a business and then needed an operator as he realized that was not his skill set or his passion.

• Intersection of operators and capital
• Deal structures
• Why buy communities

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy -
• http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie
• Connect with Sam Bass
• Sam Bass - [email protected]
• Twitter - https://twitter.com/thesambass?lang=en 

John recently bought a micro SaaS company while keeping his day job. We dive into…

• His criteria for searching
• Lessons learned on this first acquisition
• What he’s targeting right now.

John is a great follow on Twitter. Check him out below.

Episode Resources

• Connect with Ryan Condie
• http://linkedin.com/in/ryancondie
• http://letsbuyabusiness.com/
• https://forms.gle/RRcXpe3dK7pNGqv16
• Connect with John Hammond
• Twitter - @johnhammond33 - https://twitter.com/johnhammond33
• John's Company - atomicsoftware.co
• Live Oak Bank is a seasoned SMB lender providing SBA and conventional financing for search funds, independent sponsors, private equity firms, and individuals looking to acquire lower middle-market companies. www.liveoakbank.com
• Lisa Forrest - [email protected]
• 10 Step Video series to Finding a Company to Buy http://letsbuyabusiness.com/video
• Ryan Twitter - https://twitter.com/RyanPaulCondie