How I Bought a $3.4M Business For $200K
Want Sam's Playbook to Uncover Hidden Business Opportunities? Get it here: https://clickhubspot.com/weo Episode 723: Sam Parr ( https://x.com/theSamParr ) and Shaan Puri ( https://x.com/ShaanVP ) talk to Shaan’s college friend Dan Certner ( https://x.com/youneedbags ) about how he bought a business and doubled it in 18 months. — Show Notes: (0:00) Dan the bag man (5:16) Farmville Fraud Detection (10:09) Fail: Getting rich working at a startup (15:13) Buying a bag business (19:30) The forgivable sellers note (22:57) How to find the right business (37:29) Meeting the seller (40:15) Negotiating the terms (45:44) The real profit (49:55) Who should do this? (53:40) Everything is someone's business (56:32) The exit strategy (59:41) Shaan and Dan's business plan (1:07:49) Fun to Run Businesses — Links: • Fleet - https://www.fleetpackaging.com/ — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire worldwide talent like Shaan and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than US equivalents. • Mercury - Need a bank for your company? Go check out Mercury (mercury.com). Shaan uses it for all of his companies! Mercury is a financial technology company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column, N.A., and Evolve Bank & Trust, Members FDIC — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth • Sam’s List - http://samslist.co/ My First Million is a HubSpot Original Podcast // Brought to you by HubSpot Media // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano