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Acquiring a business takes skill, and perhaps more importantly, determination and grit. Successful acquirer Bakari Akil, shares his personal journey into the world of business acquisitions, tactical insights into how he approaches deals, and stories from the trenches. Tune in to be inspired to take the leap into the journey of acquiring a business.
Follow Kenna: @kennacraver
Contact Bakari: @bakariakil
Want guidance and support on your journey to buying an online business? Apply to work with Kenna here.
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In today's episode, I talk with a student enrolled in my coaching program and mastermind. He recently acquired an ecommerce business and shares his acquisition journey.
Here's a few things we discuss:
What made him consider buying a business How long did it take to find and close a deal What his criteria was when searching for a business to buy His mindset when approaching negotiations Working with the seller post-close How it feels to accomplish his goalYou can find me and learn more about my coaching program below.
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The Entrepreneur Cheat Code
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If you're wondering how long it can take to acquire an ecommerce business, this one's for you.
Lorie enrolled in my program The Entrepreneur Cheat Code two months before recording this episode. As a result, she acquired an ecommerce business within 30 DAYS!
Listen in to learn about why she decided to buy an online business instead of starting one, how she approached her search process, and how she plans to grow her new business.
Follow me:
Instagram: @kennacraver
Twitter: @kennacraver
Tiktok: @kenna.craver
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Have you ever wanted to own a profitable Youtube channel? In the world of business acquisitions, buying online businesses is becoming increasingly popular. Whether you're buying ecommerce brands, content sites, or software companies, the opportunities are endless.
This episode features an interview with William Beaird. He is a man of many talents with a background in marketing, trading, consulting, and investing.
In this episode, we discuss his current investing strategy of buying and building Youtube channels.
William dives into how to automate a Youtube channel, how to prepare your channel for an exit, and the key metrics buyers should perform due diligence on for a potential channel acquisition.
Check out William's Youtube Automation Playbook here.
And if you're interested in buying an ecommerce business, be sure to check out my upcoming workshop here.
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One of the main questions I get asked about buying a business is how to obtain financing. In this episode, I cover a few financing options available and various ways that you can structure a deal.
Enrollment for Acquisition Accelerator is now open.
Acquisition Accelerator is an exclusive, three month accelerator program with a strategic blend of coaching, accountability, and masterminding with me and other high-level entrepreneurs.
It is designed to help you skip the overwhelm of launching and go straight to owning a business that gives you revenue right away.
Learn more by clicking https://calendly.com/d/yxh-rgr-sd3
Find me online:
>> Instagram/Twitter: @kennacraver
>> Tiktok: @kenna.craver
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Owning an ecommerce business is a great way to increase your income and is one of the best investments of time and money that you can make.
That being said, it can be challenging to start one from scratch and generate consistent revenue.
Fortunately, there is an easier, and way more fun, alternative. You can buy an existing ecommerce business that is already producing income.
It’s the shortcut to owning a profitable online business, which is why I call it The Entrepreneur Cheat Code. 😉
If you’re ready to create an additional income stream without the headache of launching a new business, I invite you to join me in my advisory program, the Acquisition Accelerator.
You will learn:
🔑 How to decide what kind of ecommerce business you should buy
🔑 Where to find the best businesses for sale and how to navigate each platform to save you time
🔑 How to determine if a business would be a good investment
🔑 How much to pay for a business (and financing options available)
🔑 How to transfer business ownership and assets
🔑 What to do in the first few months as the new owner to ensure your continued success
PLUS THESE BONUSES:
- Business evaluation questions script to help you ensure the business is profitable
- Due diligence checklist to keep you organized
- Asset transfer checklist to help you transfer business ownership
- 90 day plan to help you grow the business after you buy it
Learn more by clicking here https://calendly.com/d/yxh-rgr-sd3.
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So many people struggle with starting and growing a successful business and many are just trying to increase their income or replace their job’s income so they can quit.
So, when i tell them that they can skip the overwhelm of starting a business and just buy one that is already profitable, it sounds too good to be true.
Buying an existing online business is easier than you think, and there are countless businesses available for sale.
If you want to skip the struggle of starting from scratch and get straight to the money, check out https://theentrepreneurcheatcode.com to get started. -
This episode features an interview with Bharat Kanodia, who is the Founder and Chief Appraiser of Veristrat. Veristrat offers valuations and M&A readiness solutions for business owners and investors.
Bharat has valued over 2000 businesses, real estate, industrial, governmental infrastructure, public and private companies. Some unique assets appraised by Bharat include - the Golden Gate Bridge, Atlanta Airport, Uber, AirBNB, Yahoo!, Brooklyn Bridge, Mirage Casino LV, among many others.
In this episode, we talk about the baby boomer wealth transfer, business valuations, and the most unique asset that Bharat has appraised.
Bharat Kanodia links:
https://www.veristrat.com/
https://www.youtube.com/c/WhatsitWorth
https://www.inc.com/author/Bharat-Kanodia
The Entrepreneur Cheat Code
https://theentrepreneurcheatcode.com/
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Blake Hutchison is the CEO of Flippa, an online marketplace to buy and sell online businesses. If you have heard of the online business acquisitions space at all, then you have no doubt heard of Flippa, it is the pioneering marketplace where thousands of buyers go to find an online business to acquire.
In this episode, we talk about the growth that Flippa has seen in the number of new buyers entering the space, why this opportunity is still considered insider knowledge, we get into acquisition financing a bit, and the steps that new buyers can take to mitigate their risk when looking for a business to acquire.
Host: Kenna Craver, @kennacraver
Website: https://theentrepreneurcheatcode.com/
Guest: Blake Hutchison, CEO Flippa - https://flippa.com/
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People who buy online businesses do so for various reasons. If you’re interested in buying an online business, you should have a clear understanding of the reason why. Once you know what goal you’re trying to achieve, you can then narrow down your options as to what kind of online business you should be looking for. In this episode, I review the different business buyer personas so that you can identify which type of buyer you are and what you should be looking for in an online business acquisition.
Be sure to check out https://theentrepreneurcheatcode.com/ to learn more about how you can get started buying an online business. There you will find links to the online community and other resources to assist you on your journey to buying an online business.
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In this episode, I’ll be reviewing a few reasons why you should consider buying an existing business rather than starting one from scratch. Learn more about buying an ecommerce business at theentrepreneurcheatcode.com.
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Welcome to The Entrepreneur Cheat Code. Join me to learn all about online business acquisitions.
