Course
Buying a small business
How acquisitions actually work at the small end: finding deals, reading the books, valuing what you see, and surviving the first 90 days.
8 lessons · about 60 minutes
Lessons
- Why buy instead of buildWhat an acquisition buys you, and what it does not.7 min
- Where deals come fromListings, brokers, and the off-market approach that most buyers skip.8 min
- Reading the seller’s books skepticallyWhat add-backs are, and where the numbers get flattered.8 min
- SDE, EBITDA, and multiplesHow small businesses get priced, and what moves the multiple.8 min
- The letter of intentThe non-binding document that sets the whole deal.7 min
- Due diligenceWhat to verify, in what order, before the money moves.8 min
- How people pay for itSeller notes, bank debt, earnouts, and why structure beats price.7 min
- The first 90 daysChange almost nothing, and learn everything.7 min