Codie Sanchez on when buying a business makes sense. Most wealth comes from acquisitions, not startups. The key is deal clarity: pick businesses that match your unfair advantages. A laundromat probably isn't it.
Most people don't realize is if you want real money, acquisitions is where real money happens. The smartest guys and gals out there eventually want to buy something. They don't want to build it every time because you just have multiple effects.
My wife has a laundromat and now she wants to sell it and I'm thinking should I buy it? How do you know when to buy or not? Is it the profitability? Is it straight numbers?
Even if you understand PNLs and financials, which you do because you run a business, the most important part is called deal clarity and it's figuring out what's a good business for you. Not everybody should buy a laundromat. In fact, you probably most certainly definitely should not buy that laundromat.
How come your.
Unfair advantage is not laundromats and you have such a big platform and inherent business knowledge. You should probably buy a business that's going to increase the value of something else that you already own.
He wouldn't give you the dream if he didn't believe you had what it takes. You have what it takes.
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