Hey Biz Buyers,

Welcome to Main Street Minute — where we share some of the best tips, tools, and ideas from inside our small business acquisitions community.

Whether you’re curious or serious about buying an SMB, you’re in the right place.

Today we’ve got 1 lesson and 1 idea for buyers. But first... 

We’re hosting a free, live, virtual business-buying training. Grab a spot here before you forget:

Your Ownership Roadmap: How to Buy the Perfect Business For You

Now let’s get down to business.

“In learning you will teach, and in teaching you will learn”

- Phil Collins

The Fastest Way to Get Better at Biz Buying

It’s Not What You Think…

More than anything, the fastest way to level up at biz buying isn’t to learn it, it’s to teach it. Yeah, teach it. What’s this look like in our community?

Action → Extraction

Make a move, then share the lessons you’ve pulled from your experience.

Take Dave, for example. Dave just landed a big win. As a member of our community, he closed on an impressive deal to become co-owner of an industrial services business. (Congrats Dave, you’ve made it to the starting line.)

Here’s Dave outlining 6 lessons from his recent acquisition:

This deal didn’t just fall into his lap. Since joining the Contrarian Community in June 2023, Dave’s been putting in the work:

• Attending calls
• Engaging in discussions
• Analyzing deals

But Dave bought into the idea that knowledge gets real when you pass it on. When you consistently share what you have learned, that’s when you really start to know your stuff.

Teaching isn’t just some feel-good, kumbaya nonsense. It’s how you bulletproof your own understanding. Memorizing acquisition strategies and details? That’s cute. Explaining them? Power move.

Sharing what you know isn’t charity — it’s a growth strategy.

Not only did Dave close the deal, he’s now passing on the playbook so everyone else in the group can level up too. If you think keeping your lessons to yourself is how you get to the top, here’s your wake-up call: the future belongs to those who teach.

How to Buy a Business Without Selling a Kidney

What To Know About SBA Loans

So, you’ve got your eye on that HVAC business down the street, or maybe the niche manufacturing shop that’s been quietly profitable for decades.

You’ve even got operator experience under your belt, and you’re ready to dive into the deep end of ownership, but there’s just one problem… Your bank account doesn’t exactly scream “trust fund.”

Enter the SBA loan — the U.S. government’s lever for business buyers and builders, making it more accessible for the little guy to own or grow a piece of Main Street.

How It Works:

The Small Business Administration (SBA) acts as a fulcrum, enabling lending that makes it possible for a buyer with limited capital to acquire a more substantial business than they could otherwise afford.

The SBA isn’t lending you money directly, but they’re backing the loan, making banks feel more comfortable lending you cash for an acquisition. SBA loans are a fantastic tool for the right buyer — but make no mistake, they come with strings attached…

The Fine Print

Leverage works great… until it doesn’t. These loans are:

• Real money
• Real debt
• Real risk

You still have to make those loan payments, whether business is booming or you’re stuck in the red. The SBA guarantee helps the bank, not you. Take on more debt than the business can support and you’re on the hook. So, be sure you’ve got enough working capital and a strong debt coverage plan.

Oh, and loans come with paperwork — lots of it. You’ll need financial statements, tax returns, and a business plan that wasn’t scribbled on a napkin. The SBA wants to see you’re not just a dreamer but someone who knows how to run a business.

Thanks Uncle Sam?

Despite these risks, the SBA loan often feels like one of those “rare moments” where Uncle Sam got something right. If used wisely, it can be a powerful tool. It’s also a common thread that ties a lot of acquisition journeys together.

Our community has members at nearly every step of the process. Whatever step you’re on, someone here has probably been through it… and lived to tell the tale.

Ownership Interest You?

A Few Ways We Can Help...

First up, we’re hosting a free, live, virtual business-buying training.

Learn the structured path to business ownership — and how to find a business that fits your needs and goals. Grab a seat here:

Then check out these other resources:

Ready to learn? Enroll in our Main Street Accelerator course. Learn how to source, evaluate, and negotiate, with around 20 hours of lessons on small business acquisitions.

Ready to get serious? The Contrarian Community is where you can grow into a pro through high-caliber education, expert-led guidance, and incredible peer support. Learn more here.

✅  Nice, You're Now Smarter

More Cool Things to Check Out

WATCH: EVERYTHING we learned about how to grow and operate a street-sweeping business.

READ: Codie’s latest thread about building a power washing business from scratch.

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