- Why we’re so damn busy working we can’t make any money
- Did you work on the right thing today?
- 3 Critical Rules for the day after you buy a company – to make sure you don’t miss a loan payment
- What about flipping a small business compared to real estate?
- Managing your Business in 2 Hours
- How we buy companies for under $5,000
What you’ll learn at the next workshop
By KC Truby
If you are wondering if this concept would help you create respectable capital gains or solve your retirement income needs, attend our next two day seminar. Nothing will bring more clarity about the risk and reward then being in the room for two days with people just like you who are doing M&A work right now in the small business arena.
The workshops are small – so everyone has an opportunity to ask questions and chat with others who are doing it now. We only do 2 or 3 workshops a year as we are busy running our own find-fix-sell deals.
How to find companies for sale before anyone else knows about them.
3 steps that will put you on the inside track for deals – before anyone else knows about them.
Day one – 2 ways to look at a deal-a-day right in your town and not waste anyone’s time.
5 vital reasons why you MUST look at 100 deals to get one or two good ones (never break these 2 steps)
9 types of professionals and commercial vendors that you must know in your town to be on the inside
3 simple steps we use to start a business relationship with those 9 and to get leads no one else sees.
The IRS, the one source you cannot work from the inside and why you don’t want early tax lien leads
3 ways to use the OLD tax lien leads that will generate far better response for you
Our two favorite software programs for keeping hundreds of leads straight and all your contacts under control
Avoid deadly mistakes & sort down to the right deals, fast. VERY IMPORTANT
The 4 vital reasons you should start with buying out your competitors. And…
If that doesn’t work for you – the 3 critical things to look for in a business outside your expertise
Establishing your search criteria – define the type of business you want to find
What business out there has a vested interest in your acquisition being a success /
How to leverage that information
The deal flow, how to have over 100 sources bringing deals back to you
Working with other accountants to find companies that fit your needs
5 critical ways to make sure you get the best deals and skip the losers quickly
Qualifying the seller, are they really for sale or just playing
The search plan – how we find deals that fit our pre-written parameters
Valuing the business – most owners are emotionally tied to a number – how to move them to reality.
Due diligence – the 109 questions to look at before you start negotiations
Financial analysis – you must get the QuickBooks backup file, and what to look for.
Ratios and how you will use them to show the owner the real value of the business
Business appraisers – when should you get a second opinion and who should you hire
7 steps in qualifying the ‘deal’ – is this a good company for your long term strategic plan
3 ways to spot the company you can get for under $10,000 or $25,000.
The attendees from our June, 2014 Find, Fix & Flip Las Vegas Seminar.
If the business is right – go to the next step and figure out what the business is worth to YOU. Most important IGNORE THE ASKING PRICE it is almost always a fictional number with little basis in reality.
5 ways we figure out what the company is worth to YOU. Then MOVE fast.
8 step process we use to explain our valuation to the seller
2 times when the price will be zero – and why those can be the riskiest deals of all
5 ways the ‘on hard times’ business is your best chance for a nothing down deal
Building your case for the value of the business so the owner agrees to your offer
Using the ‘earn out’ to reduce your up-front cost
How to ‘tie-up’ a business, take over management and ‘earn out’ your percentage on the ‘lift’
When it makes sense to liquidate your acquisition and how to make profits in the breakup
When to turn to the SBA and why they are a good resource for you
Using venture capitalist and angle investors – how to get money without giving up control
Letter of intent and why you need 30 days before you close the deal The purchase agreement and where lawyers come into the picture
Getting the money from someone else
No money down does not mean the owner does not walk away with some cash
11 ways to buy a business with none of your own money
Buying a broke business and negotiating the accounts payable to 20 cents on the dollar
No matter what the owner says, they will carry back a good chunk of the sales price
Fixing the company so it becomes a cash cow immediately and pays for itself. Fixing the company in one to six months to generate monthly income. The October meeting will include members outside of the accounting industry. The FFF Master Mind will evolve into a business group of high powered associates that will include lawyers, bankers, entrepreneurs, hedge fund operators, business coaches and brokers. Real business people doing real deals, together.
Creating measurement systems so you can stay on top of the business operations.
How to determine how much of your time your acquisition will require for the next six weeks
Establish a check list of tasks to complete – and get it done in days or weeks not months
Start developing your plan to turn the business around before you buy it
Remember time is your worst enemy – do everything possible today or you have no tomorrow
Start your staff on flow charting how they do important tasks ask ‘how can it be improved?’
Go over the accounting line by line and truly understand the cost structure including hidden cost
Up to 50% of the overhead in a business drives little or no profit to the bottom line – start killing it without killing sales or reducing the good leads in your pipeline
Ask the best sales person what other products customers buy that you might be able to sell
Who are the top 20% of the customer base, what else would they buy if you talked to them
Where is the company bleeding cash and how to stop in on day one?
Look for assets that can be sold and leased back to improve cash flow
Why the current owner does not ‘pull the trigger’ and take the hard steps themselves
Can you bring in joint venture partners who will sell your customers their products?
If possible can you close the facilities and operate virtual or in shared space
What sucks up management time – can you engineer it out of your life or kill the task completely?
How to get trade creditors to settle for 20 cents on the dollar without filing Chapter 11
How to have these answers in place before you buy the business
Who is going to manage the company – what do you pay them – do they get any ownership
Convert your sales team to incentive pay (reduce the base and increase the commissions)
Lay out a compensation plan that cuts pay but provides way to make it back (and more) in bonus
Outsource every task that is not directly impactful on the customers experience (saves mgt. time)
Getting OUT? Selling out or converting to a long term (no work for you) cash cow annuity
The business plan for exit. What are the options for selling or keeping it as a cash cow
Creating an operations manual on ‘how we do it here’ and why it is critical if you want to sell
Maximizing profits at the time of sale – why it is important to drive cash to the bottom line, today Finding buyers up to a year before you’re ready to sell.
Converting your new manager into your buyer – succession strategies that reduce your financial risk
Tax implications of taking your payments over time or in stock if you are merging UP.
One simple trick that will move $25,000 of your acquisition to 100% immediate tax deduction
Do you sell for ‘nothing down?’ You can often times sell faster and for more money using this trick
How to ‘foreclose’ on a previously sold business before the new owner gets into trouble
Why securing your ‘paper’ with other assets will keep the sold company profitable.
The check list and plan to isolate the 50% of overhead in a business that drives no net profit to the bottom line
Exactly what to do to improve sales by 25% in the first 90 days
Access to the people I must know if I’m going to get deals done with lower risk
Answer the question “Should you personally be in the business of buying, fixing and selling companies?”
Getting control or ownership of the business with no money down (or as little as possible)
Fixing the company in two to six months and start pumping the bottom line
Selling out or converting to a long term (no work for you) cash cow annuity
End of Day Summary of what you will take away from our time together…
A plan to ‘cherry pick’ one or two good acquisitions a year
A systematic process for figuring out the right sale price and then getting the funding