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The riskiest time for a new business is the startup phase.
You’ve got no product, no revenue, no staff, no reputation. It can take years for a business to build those things, if it survives at all.
Now imagine an alternative scenario, where the risk and toil of those early years have passed. Where there are already paying customers, and people & processes in place to serve those customers.
A website with traffic, a phone that rings. The flywheel is already going.
That’s what it means to acquire an existing business. Your job is to improve and grow it, not breathe life into it.
For many entrepreneurs, this is a better fit. Better suited to their skills or station in life. More rewarding, more lucrative, even more fun.
What’s more, there are many trends in your favor.
An entire generation of retiring business owners are looking for an exit. Their businesses are established, sometimes decades old, and yet there is no successor to take the reins. Oftentimes when they finally do retire, they just turn off the lights, pull the door closed, and shut down the business.
What a waste.
Meanwhile, it’s easier than ever to start a business online, from FBA to Shopify stores to courses to affiliate blogs. Which means millions of people start online side hustles, only to lose interest or shift priorities.
In the right hands, these neglected businesses can not only survive but thrive.
And unlike getting a bank loan for a startup (near impossible), banks routinely lend to entrepreneurs who want to buy a profitable small business.
Which means you can finance an acquisition, then pay down the debt with the profits of the business itself.
Many people think “buying a business” is just for the wealthy, or private equity.
Not so.
Thousands of normal individuals acquire a business every year. This site tells their stories.
Not to say that it’s easy.
While buying a business can be a path to wealth, you will not get rich quick. It’s still entrepreneurship, with all the hard work and persistence that entails.
It’s just a different kind of entrepreneurship, one that is overlooked by a media fixated on billionaires and unicorns.
But one that offers the same rewards and professional fulfillment.
Acquiring Minds will open your mind to the possibilities.
