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Eric Siu explains which small businesses are worth buying during a recession. Look for companies that complement what you already own, so you gain their clients, talent, and capabilities. The math works when 1+1 equals 3.
Eric Siu explains which small businesses are worth buying during a recession. Look for companies that complement what you already own, so you gain their clients, talent, and capabilities. The math works when 1+1 equals 3.
The upcoming recession is going to be a massive buying opportunity. So I wanted to share a couple of lessons I learned from buying small businesses. I'll just jump into it. First things first, you want to make sure that you are buying companies that are complementary to what it is that you're doing. If you are a web design shop and you're just buying other web design shops that are kind of the same thing as you, you're not adding as much value as you could. And so I'm oversimplifying it, but ideally if you're a web design shop, maybe you can buy a web dev shop, you can buy a marketing agency, you can buy things that are related. And also you're also looking to buy a client base as well. You're also looking to buy talent. So you're looking to buy the clients, you are looking to buy the capabilities, and ultimately you want it to be a situation where it's 1 1 3.
