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My First Million · April 25, 2024 · 55m
How to Buy Your First Business (Step by Step)
Sam and Shaan create a step-by-step guide for buying a small business: finding deals, evaluating businesses, structuring offers, due diligence, and operating post-acquisition. The practical playbook for buying instead of building.
This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.
Canon
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Sam: due diligence on a small business is like reading the founder's biography. You study their financials, their customer relationships, their operational decisions, and their mistakes. By the time you close, you've absorbed decades of the founder's experience.
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The courage to write your first Letter of Intent — putting real money on the line for the first time
Sam: the hardest part of buying a business is signing the first LOI. It feels insane to commit six or seven figures when you've never done it before. But each subsequent LOI gets easier. The courage muscle builds through deal flow.Was this useful?