How I Decide Whether to Keep or Replace Existing Management After a Purchase
One of the toughest calls after buying a business is deciding whether to keep or replace existing management. I’ve learned to evaluate not just skills, but also alignment with culture, systems, and long-term goals. In this article, I share my framework for making this decision, how I assess leadership fit, and why getting it right is critical to post-acquisition success.
The First 90 Days: How I Stabilize a New Acquisition
The first 90 days after buying a business are the most critical. I focus on stabilizing cash flow, earning employee trust, and strengthening operations before chasing growth. In this article, I share the exact steps I take in the first three months, why these actions set the tone for long-term success, and how they protect the business during a fragile transition period.
Why I Believe Culture Is More Important Than Strategy in Acquisitions
I’ve seen great strategies fail because the culture wasn’t aligned. In acquisitions, culture drives whether employees stay, systems work, and customers trust the transition. Strategy sets direction, but culture determines execution. In this article, I share why I prioritize cultural fit over strategy in every deal and how it shapes the long-term success of my acquisitions.
The First Questions I Ask When Meeting a Seller
The first meeting with a seller sets the tone for the entire acquisition process. I’ve learned that asking the right questions early uncovers motivations, potential risks, and whether the seller is truly aligned with me as a buyer. In this article, I share the first questions I always ask, why they matter, and how they help me decide if it’s worth moving forward.
How I Think About Reinvesting Profits vs. Taking Distributions
Every acquisition creates a choice: reinvest profits into growth or take distributions as cash. Over the years, I’ve learned that the right balance depends on stage, stability, and long-term goals. In this article, I share how I think about this decision, when I prioritize reinvestment, and when taking distributions makes sense for sustainability and wealth creation.
The Risks I Watch for in Owner Financing Deals
Owner financing can be a great tool for closing deals, but it comes with risks that buyers often underestimate. Over the years, I’ve learned to watch for hidden terms, repayment traps, and misaligned incentives. In this article, I share the red flags I look for in owner financing, how I structure deals to protect myself, and why discipline is key to using this strategy wisely.
Why I Treat Cash Flow as King in Every Acquisition
If there’s one lesson I’ve learned in acquisitions, it’s this: cash flow is king. Revenue and profit projections mean little without strong, reliable cash flow. I focus heavily on understanding how money actually moves through a business, testing different scenarios, and ensuring liquidity can withstand downturns. In this article, I share why cash flow dominates my acquisition decisions and how it shapes the price I’m willing to pay.
Why I Believe Documentation Is the Hidden Backbone of a Business
The strongest businesses I’ve acquired had one thing in common—great documentation. Systems, SOPs, and processes captured on paper or digitally make transitions smoother, reduce key-person risk, and create true scalability. In this article, I share why documentation is the hidden backbone of a business, how I evaluate it during due diligence, and why it drives long-term acquisition success.
How I Approach Pricing Power When Evaluating a Business
Pricing power is one of the clearest indicators of strength in a business. If a company can raise prices without losing customers, it tells me volumes about its competitive edge and customer loyalty. In this article, I share how I analyze pricing power when evaluating businesses, the signals I look for, and why it often determines how much I’m willing to pay in an acquisition.
Why I Always Verify Working Capital Needs Before Closing a Deal
Working capital can be the silent deal-breaker in small business acquisitions. If you don’t verify it before closing, you risk unexpected cash shortages that cripple operations after day one. In this article, I explain why I always verify working capital needs, how I assess the true requirements, and why this step protects both valuation and long-term stability in every acquisition I make.
The Role of Vendor Relationships in Business Value
Vendors are more than suppliers—they’re partners who directly affect stability, pricing, and scalability. I’ve learned that strong vendor relationships can add significant value to a business, while weak or concentrated ones can introduce hidden risks. In this article, I share how I evaluate vendor relationships in due diligence and why they’re a critical driver of long-term business value.
Why I Avoid Businesses That Depend Too Heavily on the Owner’s Personality
Some businesses look profitable but are really just extensions of the owner’s personality. When customers, employees, and vendors rely too heavily on one individual, the business often loses value the moment that person steps away. In this article, I explain why I avoid these types of businesses, how I spot signs of owner dependence, and what I look for instead to ensure transferable value and long-term scalability.