Aaron Harper

Indication of like whatever the function of the business is to get it going is what you're gonna do first But I would I would tell you to identify a checklist of things you're looking for in a business

And this is not a checklist of like, oh, home services, wellness.

It's like, does it do well through recessions and why?

Is it skilled or unskilled labor?

And why would you go with one or the other?

So think about it through that lens and get that checklist down.

Um, and then, you know, whether you want to start or buy, um, really depends upon you.

I think there's this mentality and I think a lot of it's been, um, put, put forth by a lot of influencers that you can just go buy some existing business for $0 down that someone's just going to give to you right out the gate.

And you're just going to be able to step in and it's got $300,000 in cashflow.

And all you have to do is reinvest that cashflow and build the business from a million to

Four million.

And it's like I think it's a bit of a fallacy.

Candidly, I think that if someone's willing to give you their business for zero dollars down, then it really probably doesn't have a significant amount of value anyways.

What people don't understand is if they're buying someone else's business, they're buying that person's constraint.

So they have to learn how to figure out that business owner's constraint and also learn how to start a business at the same point.

And if the business owner, after owning it for 10 to 15 years, can't figure out the constraint, meaning getting it to the next level, what makes this first-time business owner think that they're going to be able to figure out the constraint in a business that they don't understand?

There's employees that have to go along with buying someone else's business.

There's all these things that can happen.

The seller can compete with you afterwards.

They can take their brother-in-law from there.