Hey Biz-Buyers,

If you’re new around here, this is where we share some of the best insights, tips, and stories from Main Street and our private biz-buying community.

Before we dive in, 2 BIG announcements...

Codie’s hosting a live, business buying training to help you start learning to master the art of small business acquisitions on September 17th. Join to learn:

• If business buying is right for you
  
  
• Exactly what type of business will help you reach your financial goals
  
  
• How to spot red flags and assess the viability of an acquisition

Next up, our in-person scaling workshop is taking place September 18th-19th. The deets:

• An energizing 2-day event in Austin
  
  
• Led by Codie and Ayman Al-Abdullah (who scaled App Sumo to $80M)
  
  
• Collaboratively develop specific strategies to scale YOUR business
  
  
• Intentionally small, hands-on groups of owners and CEOs in the thick of it

But there’s a catch: The scaling workshop is for those tracking for $1 million+ in annual revenue. We’re screening applications and limiting this to 50 people max... And we’ve got a handful of spots left:

Whether you’re looking to acquire or scale, we’ve got you covered. Now let’s get down to business — we’ll keep this brief.

Today, in 5 minutes or less:

✔️ NEW tips: 3 key buyer lessons on due diligence

✔️ NEW video: How a subscriber bought a biz (and how you can, too)

1) COMMUNITY

Lessons From The First 30 Days of Due Diligence

“As I reflect on the first month of due diligence, I’ve distilled three key lessons that have stood out to me…”

That’s Contrarian Community member Candice updating the community on a few things she learned from being in the trenches and doing due diligence on a business.

(In other words, the farm-to-table equivalent of serving up some acquisition wisdom.)

Her 3 Key Lessons

1. Living in the Unknown: ”The due diligence process is full of uncertainties. You won’t have all the answers right away, and that’s okay. Embrace the ambiguity and keep moving forward.”
   
   
2. Addressing Concerns: ”Issues will inevitably arise, whether it’s misaligned expectations with a partner or unforeseen issues in the business financials. Address them head-on as soon as they surface. It’s better to practice conflict resolution now, rather than when the stakes are higher post-close.”
   
   
3. Hurry Up and Wait: ”The pace of due diligence can feel like a rollercoaster — intense bursts of activity followed by periods of waiting. Patience and persistence are key.”

What’s That? 3 More Due Diligence Tips?

You better believe it. Candice even dropped 3 additional tips, gained from experience:

1. Consider Sequencing: “Depending on your deal, you may have various due diligence vendors involved. It’s often possible, and sometimes beneficial, to sequence their work. For example, you might start with financial due diligence before diving into legal matters. Lean on the expertise of your vendors to help prioritize what needs to be tackled first, but also balance that with your specific needs and concerns.”
   
   
2. Frequent Communication: “Never assume everyone is on the same page. Regular check-ins with your deal team and the seller/broker are vital for keeping communication clear and open.”
   
   
3. Some Final Advice… “Enjoy the rollercoaster ride of due diligence. There will be ups, downs, spirals, and loops. Expect them, learn from them, and remember to breathe.”

The Bottom Line

Candice is taking action and learning by doing. Few can say they’ve done that… AND she’s sharing her experience with the Community, helping others learn about acquisitions and build confidence in themselves.

That’s just how Contrarians roll — pretty cool, right?

2) VIDEO

How this Subscriber Bought a Business (A Must-Watch)

Imagine going from working a 9 to 5 to becoming the owner of a business that does seven figures… Easy? No. Stressful? Absolutely. Possible? You bet.

We met up with a subscriber to talk through how he and his wife bought a business and how they grew it, so one day, you can steal their playbook.

• Why’d they buy instead of start?
• How’d they find it?
• How’d they pay for it?

This is an AMAZING story, FULL of biz-buying lessons to stuff in your back pocket. 

Wait until you see what almost crushed them — and how much they grew this business in their first year…

Watch the video here...

3) RESOURCES

Enough Reading. Time to Act.

Not sure where to start? Attend our next live, virtual business buying training on September 17th.

And in the meantime, check out these other resources:

• Enroll in our Seller Financing Navigator course
• Access 4 hours of lessons on buying businesses (without needing millions)

• Enroll in our Main Street Accelerator course
• Access 20 hours of lessons on small business acquisitions
• Learn to source, evaluate, and negotiate for businesses like a pro

• Join the all-access Contrarian Community
• ALL of our course material and videos
• Personalized mentorship, weekly group calls, and expert office hours
• Exclusive peer network for expert guidance, accountability, and events

Before you leave, hit reply. Or else…

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