What To Expect To See In Due Diligence - Buying and Selling Business Advice for Entrepreneurs

Join me and Shakil Prasla, a buyer of profitable 6 and 7 figure websites, as we reflect on some lessons learned from acquiring ecommerce businesses and offer advice for people who are looking to buy a business. Shakil tells us the first things he looks at when searching for businesses to buy and the basic things you should expect to see in due diligence, including financials, marketing, operations, and growth. You’ll learn some key techniques for improving the business you’re acquiring while getting the maximum ROI as quickly after the acquisition as possible.

Shakil then shares his candid thoughts on using the SBA 7a loan program to acquire a business and offers valuable words of wisdom for people looking to use the SBA to purchase a company in 2020.

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⏩ Skip Ahead:
0:00:16 Shakil’s background + What he does now
0:03:21 First things he looks at when looking for businesses to buy
0:04:33 Leveraging your skills to improve the business you’re acquiring
0:05:41 Adding dimensions to a business
0:06:30 How to get the maximum ROI as quickly as possible
0:08:38 A story of an acquisition where things went sideways + The importance of building trust
0:10:41 Basic things to expect to see in due diligence
0:14:02 What are you looking for regarding email?
0:15:21 What’s important to look at regarding operations?
0:17:20 Advice + Lessons learned using the SBA 7a loan program to acquire business
0:20:16 There’s no better time to buy a business than now!
0:20:44 Words of wisdom: Be careful and focus on a business that fits your passion, skillset, and lifestyle

To learn more about Shakil Prasla and his business, visit: www.shakilprasla.com

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▶️ Other videos:
• What Buyers Value and What Are Red Flags - Buying and Selling Business Advice for Entrepreneurs: https://youtu.be/vekXZ4gxQuU
• How Online Businesses Are Valued - Buying and Selling Business Advice for Entrepreneurs: https://youtu.be/g8Ziupb-BsE