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In this episode I talked to Thomas Smale in his New York City Office to get his story and some advice on how to buy and sell businesses. He's done over $1B dollars in sales without even knowing how to develop a website, and he shares his advice on how to flip businesses, how to negotiate, and how he would start again if he had $0 dollars. This is a perfect episode for anyone who is hesitant on starting a business, and would rather buy one and build it from there.
0:00 – Intro
0:49 – Getting into M&A
2:50 – Self-taught website flipper
4:17 – How he started an M&A firm
5:40 – Using the Pareto Principle to make more money
6:36 – How to buy a business
8:02 – How to spot good businesses
9:46 – Selling a $10M+ business
10:41 – How he got the 8-figure deal
11:23 – How much profit he makes per deal
11:56 – How to value a business
12:56 – Buying a business VS starting one
14:26 – How to negotiate
16:33 – How to buy a business from scratch
🔎 Find Thomas
🐦 Twitter – https://twitter.com/ThomasSmale
💼 Website – https://feinternational.com
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