Keira Hamilton
@keirahamilton.bsky.social
SBA Financing for Business Acquisition | Laundromat Consultant | Passionate about empowering entrepreneurs to succeed #ETA #SMB https://www.youtube.com/@Keira_Hamilton
As you embark on or continue your business buying journey in the new year, I know you are going to see more opportunities come your way and experience more success if you can remember this lesson.
Happy New Year!
Happy New Year!
December 31, 2024 at 6:30 PM
As you embark on or continue your business buying journey in the new year, I know you are going to see more opportunities come your way and experience more success if you can remember this lesson.
Happy New Year!
Happy New Year!
The vast majority of business owners selling their business genuinely want to see it continue to succeed, even if it has no monetary impact on them. They want someone who is going to treat their employees and their customers well. Someone who is going to continue the legacy that they built.
December 31, 2024 at 6:30 PM
The vast majority of business owners selling their business genuinely want to see it continue to succeed, even if it has no monetary impact on them. They want someone who is going to treat their employees and their customers well. Someone who is going to continue the legacy that they built.
And it’s about to be very personal to you as the one who is going to be responsible for it, and maybe have a significant debt to pay back on it.
December 31, 2024 at 6:30 PM
And it’s about to be very personal to you as the one who is going to be responsible for it, and maybe have a significant debt to pay back on it.
Business is personal. It’s personal to the seller, who’s likely devoted a considerable amount of time and money to their operation.
It’s personal to the employees, who are directly impacted by the work culture of the business and rely on it as a source of income.
It’s personal to the employees, who are directly impacted by the work culture of the business and rely on it as a source of income.
December 31, 2024 at 6:30 PM
Business is personal. It’s personal to the seller, who’s likely devoted a considerable amount of time and money to their operation.
It’s personal to the employees, who are directly impacted by the work culture of the business and rely on it as a source of income.
It’s personal to the employees, who are directly impacted by the work culture of the business and rely on it as a source of income.
It seems simple, but I see it so often overlooked.
Too often, I see folks get too caught up in their spreadsheets. They’re so excited about the SDE or the margins or the multiple, they lose sight of the bigger picture.
Too often, I see folks get too caught up in their spreadsheets. They’re so excited about the SDE or the margins or the multiple, they lose sight of the bigger picture.
December 31, 2024 at 6:30 PM
It seems simple, but I see it so often overlooked.
Too often, I see folks get too caught up in their spreadsheets. They’re so excited about the SDE or the margins or the multiple, they lose sight of the bigger picture.
Too often, I see folks get too caught up in their spreadsheets. They’re so excited about the SDE or the margins or the multiple, they lose sight of the bigger picture.
It goes both ways. You need to feel out your seller and determine if this is someone you want to partner with. You also have to show that you’re a good person to do business with, because they’ll be making the same assessment of you.
Follow to catch lesson 5 tomorrow!
Follow to catch lesson 5 tomorrow!
December 30, 2024 at 5:57 PM
It goes both ways. You need to feel out your seller and determine if this is someone you want to partner with. You also have to show that you’re a good person to do business with, because they’ll be making the same assessment of you.
Follow to catch lesson 5 tomorrow!
Follow to catch lesson 5 tomorrow!
If I were considering a business to buy and everything looked fantastic on paper, but I wasn’t getting a good feeling from the seller, I’m not buying that business.
Because as someone who has sold a business, I know there are things I could have hidden from my buyer.
Because as someone who has sold a business, I know there are things I could have hidden from my buyer.
December 30, 2024 at 5:57 PM
If I were considering a business to buy and everything looked fantastic on paper, but I wasn’t getting a good feeling from the seller, I’m not buying that business.
Because as someone who has sold a business, I know there are things I could have hidden from my buyer.
Because as someone who has sold a business, I know there are things I could have hidden from my buyer.
You have to pay attention to vibe.
You know when you’re not getting a good feeling from someone. You can tell when someone seems a little shady–when it feels like they’re not quite giving you the whole story.
You know when you’re not getting a good feeling from someone. You can tell when someone seems a little shady–when it feels like they’re not quite giving you the whole story.
December 30, 2024 at 5:57 PM
You have to pay attention to vibe.
You know when you’re not getting a good feeling from someone. You can tell when someone seems a little shady–when it feels like they’re not quite giving you the whole story.
You know when you’re not getting a good feeling from someone. You can tell when someone seems a little shady–when it feels like they’re not quite giving you the whole story.
Due diligence can take months. More than likely, you’re going to encounter some kind of problem or unexpected circumstance at some point. And you want the person you’re doing business with (your buyer or seller) to be someone you can rely on to work with you, not against you.
December 30, 2024 at 5:57 PM
Due diligence can take months. More than likely, you’re going to encounter some kind of problem or unexpected circumstance at some point. And you want the person you’re doing business with (your buyer or seller) to be someone you can rely on to work with you, not against you.
I truly think one of the biggest oversights in due diligence is the seller themselves. When you sell or buy a business, you are entering into a business partnership with the person on the other end of the transaction.
December 30, 2024 at 5:57 PM
I truly think one of the biggest oversights in due diligence is the seller themselves. When you sell or buy a business, you are entering into a business partnership with the person on the other end of the transaction.
I’ve got two more lessons coming your way before 2024 wraps up! Be sure to follow to catch them! #ETA #SMB #BusinessAcquisition
December 29, 2024 at 5:08 PM
I’ve got two more lessons coming your way before 2024 wraps up! Be sure to follow to catch them! #ETA #SMB #BusinessAcquisition
From your first interaction with a broker/seller, show through your words and actions that you are honest and reliable.
December 29, 2024 at 5:08 PM
From your first interaction with a broker/seller, show through your words and actions that you are honest and reliable.
✅ Demonstrate that you are a good person to work with.
I wasn’t just looking at how much cash buyers had. I was also assessing whether or not they were someone I wanted to work with. I knew at some point there would be problem that we would need to solve together.
I wasn’t just looking at how much cash buyers had. I was also assessing whether or not they were someone I wanted to work with. I knew at some point there would be problem that we would need to solve together.
December 29, 2024 at 5:08 PM
✅ Demonstrate that you are a good person to work with.
I wasn’t just looking at how much cash buyers had. I was also assessing whether or not they were someone I wanted to work with. I knew at some point there would be problem that we would need to solve together.
I wasn’t just looking at how much cash buyers had. I was also assessing whether or not they were someone I wanted to work with. I knew at some point there would be problem that we would need to solve together.
Your initial outreach should not get into numbers. You should not start the conversation trying to secure a seller note or haggle for a lower purchase price. Simply start by introducing yourself and why you’re interested in the business.
December 29, 2024 at 5:08 PM
Your initial outreach should not get into numbers. You should not start the conversation trying to secure a seller note or haggle for a lower purchase price. Simply start by introducing yourself and why you’re interested in the business.
✅ Focus on making a good first impression and building rapport.
This starts with getting honest with yourself about what you’re looking for and how you plan to execute. Brokers and sellers need to believe that you'll be a good operator, and that you can execute.
This starts with getting honest with yourself about what you’re looking for and how you plan to execute. Brokers and sellers need to believe that you'll be a good operator, and that you can execute.
December 29, 2024 at 5:08 PM
✅ Focus on making a good first impression and building rapport.
This starts with getting honest with yourself about what you’re looking for and how you plan to execute. Brokers and sellers need to believe that you'll be a good operator, and that you can execute.
This starts with getting honest with yourself about what you’re looking for and how you plan to execute. Brokers and sellers need to believe that you'll be a good operator, and that you can execute.
✅ Reflect & do your research to determine what is realistic.
Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time. Also make sure you have a financing plan (that isn't seller financing or zero down).
Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time. Also make sure you have a financing plan (that isn't seller financing or zero down).
December 29, 2024 at 5:08 PM
✅ Reflect & do your research to determine what is realistic.
Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time. Also make sure you have a financing plan (that isn't seller financing or zero down).
Spend time really considering what type of business is going to be the best fit for you based on your experience and how you want to spend your time. Also make sure you have a financing plan (that isn't seller financing or zero down).
To count down to 2025, I’m sharing 5 lessons learned from selling my business that will help you on your business buying journey in the new year.
Lesson 3️⃣ - It’s not that hard to be a good buyer. Here’s how.
Lesson 3️⃣ - It’s not that hard to be a good buyer. Here’s how.
December 29, 2024 at 5:08 PM
To count down to 2025, I’m sharing 5 lessons learned from selling my business that will help you on your business buying journey in the new year.
Lesson 3️⃣ - It’s not that hard to be a good buyer. Here’s how.
Lesson 3️⃣ - It’s not that hard to be a good buyer. Here’s how.
If you’re looking to buy a business next year, I strongly encourage you to take some time for personal reflection and market research. Save yourself and sellers time by educating yourself on what is realistic in the ETA space.
Follow for lessons 3-5!
Follow for lessons 3-5!
December 28, 2024 at 9:38 PM
If you’re looking to buy a business next year, I strongly encourage you to take some time for personal reflection and market research. Save yourself and sellers time by educating yourself on what is realistic in the ETA space.
Follow for lessons 3-5!
Follow for lessons 3-5!
Particularly with smaller deals, and especially with a business like a laundromat, there are cash buyers out there. If you find a seller willing to carry a large note, that business is likely going to need a significant time and money investment from you post-close.
December 28, 2024 at 9:38 PM
Particularly with smaller deals, and especially with a business like a laundromat, there are cash buyers out there. If you find a seller willing to carry a large note, that business is likely going to need a significant time and money investment from you post-close.
🚫 You can rely on seller financing to get deals done.
There’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business. While seller financing is a common practice, the good deals are not being done with high levels of it.
There’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business. While seller financing is a common practice, the good deals are not being done with high levels of it.
December 28, 2024 at 9:38 PM
🚫 You can rely on seller financing to get deals done.
There’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business. While seller financing is a common practice, the good deals are not being done with high levels of it.
There’s been an unrealistic expectation set by the gurus that relying on seller financing is a viable strategy for buying a business. While seller financing is a common practice, the good deals are not being done with high levels of it.