Key Points From the Interview
ou've heard the debate about buying big versus small many times on Acquiring Minds.
What is discussed far less is buying fast versus buying slow.
Today's guest was determined that his search to buy a business not consume countless months and years of his life.
He makes the point, convincingly, that as you embark your search to buy a business, ask yourself:
Should you spend the next 12 to 24 months searching, searching, searching for the very best business possible?
Or:
Should you aim to spend much less time in your search, lower your standards some, prioritize getting in the game, and spend as much of the next 12 to 24 months gaining operating experience, growing a business, actually doing the thing?
Rob Carpenter did the latter.
He bought an existing territory of a home cleaning franchise with $200k of SDE.
Yes, very small.
But kicking off his search to getting in the seat as owner took 90 days, end to end.
As of this interview, he's well on his way as a business owner.
Now, of course there is nuance here. There are good reasons to be more conservative than Rob was, which he acknowledges and we explore in depth.
But I think you'll agree that his attitude is refreshing — and important. Beware the danger of assuming your search will take 12 to 24 months; such an expectation can become self-fulfilling.
That is but one theme among many in this conversation with Rob, which I think you'll enjoy.
Here's Rob Carpenter, owner of 3 Merry Maids territories in Colorado.
[00:00:00 - 00:02:30]
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