Become an Entrepreneur: Expert Guide to Buying a Business

Learn how to become an entrepreneur through acquisition with expert tips from industry leaders.

Join moderator Rick Brimacomb as he hosts an expert panel featuring Lisa Holter Ankel (Attorney at Avisen Legal), Jeff Liebl (President & CEO of GeoComm), Troy Rosenbrook (President of Highland Bank), and Mike Harvath (President & CEO of Revenue Rocket) to explore the world of entrepreneurship through acquisition. This in-depth discussion offers actionable insights for aspiring entrepreneurs looking to buy a business and seasoned operators aiming to grow through acquisitions.

The panel dives into critical topics, including the role of search funds in funding acquisitions, key legal considerations like stock vs. asset deals and indemnification, and financing options from banks like Highland Bank. You'll hear real-world success stories, such as an entrepreneur bootstrapping an acquisition to a successful exit, alongside lessons from deals that didn't go as planned. The experts emphasize the importance of understanding your "why" behind an acquisition, conducting thorough due diligence, and building a strong support team of advisors to navigate the process. They also discuss pitfalls to avoid-like cultural misalignment or overlooking warranty claims-and the nuances of using other people's money (OPM) for funding. Whether you're a first-time buyer or exploring M&A trends for 2025, this video is packed with practical advice to help you succeed in business acquisition.

Navigate the video with these timestamps:

0:00 Introduction by Rick Brimacomb
1:30 Jeff Liebl on assessing businesses for acquisition
3:45 Lisa Holter Ankel explains search funds and legal tips
5:20 Mike Harvath on M&A trends and buy/sell strategies
7:10 Troy Rosenbrook on financing acquisitions with Highland Bank
9:00 Panel on the importance of the "why" in acquisitions
12:00 Due diligence pitfalls and solutions
15:00 Lightning round: Tips for using other people's money (OPM)
18:00 Closing advice for first-time buyers

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Deepen your knowledge with these resources:

Watch next: "Financing Your First Acquisition"

Playlist: "Entrepreneurship Through Acquisition"

Article: "What Are Search Funds?"

Connect and share:

#entrepreneurship #businessacquisition #Searchfund #mergersandacquisitions #mergers #acquisitions #businessadvice #duediligence #organizationalculture #privateequity #businessgrowth #financing

Top takeaways from the panel:

- Clarify your "why" before pursuing an acquisition.
- Use search funds to finance your business search and purchase.
- Prioritize due diligence on financials, culture, and legal risks.
- Assemble a skilled team (legal, financial, M&A advisors).
- Align goals with investors when using other people's money (OPM).

@Brimacomb – Your source for expert advice on entrepreneurship, acquisitions, and business growth.