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Business Buyer Diaries: the Reality Before, During, and After

Business Buyer Diaries: the Reality Before, During, and After

Nathan Platter

Welcome to the Business Buyer Diaries. My name is Nathan Platter, I’m a full-time employee, and I bought a business! I did everything right from finding the deal, handling due diligence on 63 different opportunities, and ultimately buying a profitable gym, and boy was I in for a surprise as a new owner! I chronicle everything in real time, including the biggest wins to the stressful nights at 2am. I’m sharing my journey without sugarcoating anything, so you don’t repeat the same mistakes I do.


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Top 10 Business Buyer Diaries: the Reality Before, During, and After Episodes

Goodpods has curated a list of the 10 best Business Buyer Diaries: the Reality Before, During, and After episodes, ranked by the number of listens and likes each episode have garnered from our listeners. If you are listening to Business Buyer Diaries: the Reality Before, During, and After for the first time, there's no better place to start than with one of these standout episodes. If you are a fan of the show, vote for your favorite Business Buyer Diaries: the Reality Before, During, and After episode by adding your comments to the episode page.

Business Buyer Diaries: the Reality Before, During, and After - 346. Be crystal clear on words, impact, practical next steps, and security

346. Be crystal clear on words, impact, practical next steps, and security

Business Buyer Diaries: the Reality Before, During, and After

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12/16/24 • 4 min

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Understanding the nuances of business terminology can be more critical than one might imagine, especially when words like "redacted" can spark unnecessary panic. Picture this: a miscommunication about document edits between myself and the GM had me envisioning blacked-out contracts, akin to scenes from a spy thriller. In this episode, I recount the importance of ultra-clear communication, the process of transitioning sensitive documents from physical storage to a secure digital platform, and the lessons learned in handling these delicate situations. By prioritizing secure file management, I've discovered how integral it is to maintain clarity, ultimately benefiting both operations and peace of mind.
Navigating the complexities of winding down a business while honoring commitments to employees presents its own set of challenges. As the GM prepares to transition out, I'm faced with financial constraints and the daunting task of balancing payroll and severance for my team. Despite the pressures, my focus remains on reducing liability and expenses, even if it means making tough decisions that offer no immediate value. This candid conversation reflects the emotional and practical realities of these transitions, as I strive to keep the business ethical and operational during these turbulent times. Join me on this journey as we tackle these hurdles with determination and a commitment to integrity.

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Business Buyer Diaries: the Reality Before, During, and After - 238. How to be the worlds best employee (and it’s who you want to hire)

238. How to be the worlds best employee (and it’s who you want to hire)

Business Buyer Diaries: the Reality Before, During, and After

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06/11/24 • 5 min

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Ever found yourself wrestling with a problem at work that just won't let up? I've been there, and in this revelatory episode, I'm peeling back the layers of a coding conundrum that had me stumped for days. But, here's the twist: the journey to a breakthrough illuminated an invaluable lesson about value creation in the workplace. Join me as I recount how an ordinary one-on-one with my manager morphed into a strategy session, not only unlocking the door to my own issue but also paving the way for a potential leadership role with summer interns. It's a tale that transcends the technicalities of software development and delves into the core of what makes an employee truly indispensable.
This is a story for anyone seeking to become the linchpin of their team. We dissect the dream scenario where your staff anticipates challenges and tackles them with your vision in mind. But it's not all smooth sailing; we also confront the drawbacks of over-reliance on guidance. Whether you're scaling the corporate heights or constructing your own business empire, I'm dishing out practical strategies to amplify your worth and propel organizational growth. So tune in, as we take apart the essence of problem-solving and explore the extraordinary value of those who skillfully navigate workplace challenges with autonomy and finesse.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Support the show

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Business Buyer Diaries: the Reality Before, During, and After - 🔒 203. Battling negative self talk, telling the team everything, we’re living transparently
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05/29/24 • 16 min

Subscriber-only episode

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Facing a harrowing $30,000 abyss where profits once stood, I take you through the trenches of small business warfare, where every decision feels like a high-stakes chess move. This episode is a raw narrative of the financial distress that blindsided me, and the relentless quest to resurrect my venture from the ashes. The candid confessions include tough calls like salary cuts and the impact of losing a key sales rep, all while maintaining crucial transparency with my staff. I believe in the power of unity during crisis, and you'll hear how their connection with our community and their presence in the studio fortify our fightback strategy. A standout team member steps up, offering a beacon of hope with leadership and insight that could very well be our lifeline.
The specter of failure isn't just a business partner; it can feel like a shadow cast over one's self-worth. In this episode, I get personal about the emotional rollercoaster that comes with facing the potential collapse of your dream. This isn't just about numbers on a spreadsheet; it's about separating your identity from your business's performance and finding the resilience to forge ahead. You'll learn about the paradox of self-care in the face of adversity – how a modest $7 steak can be an act of rebellion against despair. Moreover, I explore the tactical pivot of enlisting a former member's sales expertise on a commission basis, revealing the incremental steps towards a hopeful recovery. Join me on this journey of embracing the flaws and failures that shape us, as we claw our way back to stability.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.
bookmark
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share episode
Business Buyer Diaries: the Reality Before, During, and After - 241. Find one person doing one thing that you want and ask how to get unstuck and do baby step 1
play

06/13/24 • 4 min

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Navigating the twists and turns of acquiring a business, I had the pleasure of chatting with Daniel on the Acquisitive Podcast—my very first podcast guest appearance! This episode isn’t just about sharing that exhilarating experience, but also about the treasure trove of insights I scooped up along the way, particularly about kicking off my own podcast. From the nitty-gritty of finding the perfect host site to the spread of content across platforms like YouTube, Apple, and Spotify, I'm unpacking the puzzle of launching a digital audio presence.
As a business owner, I face a maze of uncertainty daily. My conversation with Daniel highlighted the importance of voicing your struggles and tapping into the wisdom of those who've tread the path before you. By being vocal about the hurdles, I've learned the magic of keywords and connections that can lead to solutions. Join us as we take on the adventure of content creation, where each episode is a lesson in perseverance and a step forward in the entrepreneurial journey. With Daniel's insights and my newfound understanding of the podcasting landscape, we're rocking and rolling into a world of endless possibilities—one episode at a time.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Support the show

bookmark
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share episode
Business Buyer Diaries: the Reality Before, During, and After - 240. Keep going, make it through today, keep trying, call a friend, just one more

240. Keep going, make it through today, keep trying, call a friend, just one more

Business Buyer Diaries: the Reality Before, During, and After

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06/12/24 • 8 min

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Navigating the treacherous waters of entrepreneurship, I've faced the kind of fears that would send shivers down any business owner's spine. Imagine glancing at your bank account to see a balance that's barely enough to cover a week's groceries – that's the reality I grapple with. But here's the kicker: I've learned to smile in the face of that terror, to find a way through the financial fog and cling to a faith that's unshakeable. Join me as I recount the moments that tested my resolve, the strategies that kept me afloat, and the powerful affirmation that 'God's got this' even when the going gets tough.
In a conversation filled with raw honesty and shared wisdom, I was thrilled to bring light to the underrepresented stories of non-tech business purchases through a candid podcast discussion. We rarely hear the tales of the brave souls who take over roofing companies or lawn care services, those quiet heroes of local entrepreneurship. But in this episode, we band together, sharing not just our doubts and triumphs but forming a pact to support one another through the murky world of business acquisition. The takeaway is clear: there is strength in numbers, hope in shared experiences, and a reassuring sense that none of us are alone on this wild ride of business ownership.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Support the show

bookmark
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share episode
Business Buyer Diaries: the Reality Before, During, and After - 207. Talk to other franchisees outside of the franchisor or broker recommendation

207. Talk to other franchisees outside of the franchisor or broker recommendation

Business Buyer Diaries: the Reality Before, During, and After

play

05/30/24 • 10 min

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Ever found yourself on the brink of a business deal, pulse racing with the thrill of potential, yet drenched in a cold sweat of uncertainty? That's precisely where we begin our journey today, as I recount a tale of navigating the minefield of business acquisition, with a focus on the critical importance of due diligence. A potential buyer from the tech industry reached out to me, stirring a sense of déjà vu as they eyed a franchise studio that once caught my own eye. Together, we dissect the layers of financial scrutiny, ethical guidance, and the intricate dance of respecting the seller's reputation while safeguarding our own moral compass.
But it's not just about the thrill of the chase; it's about understanding the wider repercussions in the franchise landscape post-pandemic. With franchise systems reeling and a multitude of clubs up for sale, the episode takes a hard look at what it means for the quality and sustainability of these ventures. I'm candid about the weight of due diligence, from the varied voices of current franchisees to the overarching need for transparency. It's a contemplative exploration of how we can make informed investments that align with our values, ensuring that every decision we make is ethical, legal, and ultimately, for the greater good of the community we serve. Join us as we dissect the intricacies of buying into a business that's more than just a bottom line—it's a slice of someone's dream.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Support the show

bookmark
plus icon
share episode
Business Buyer Diaries: the Reality Before, During, and After - 201. How we’re turning from the red to the green by cost reductions

201. How we’re turning from the red to the green by cost reductions

Business Buyer Diaries: the Reality Before, During, and After

play

05/28/24 • 7 min

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Navigating the unpredictable tides of financial management in a newly acquired business is no small feat; it's a journey riddled with tough decisions and strategic pivots. This episode is a raw and real look at the hard-hitting changes we've made to ensure the survival and future success of our venture. We've crunched the numbers with our accounting team and faced the stark reality of monthly losses head-on, prompting a significant overhaul from staffing to sales strategy. Join us to uncover the cost-saving measures that could lead to a $9,000 monthly reduction and the emotional toll that comes with running a business.
Stepping into the trenches of entrepreneurship means being ready for the frontlines of personal sacrifice and strategic maneuvering. I share my candid experience of taking over the reins as a business owner, revealing the sobering truth behind consecutive losses and the immediate actions taken to steady the ship. Hear about the silver linings amidst the struggles, including how upfront payments may blossom into stable cash flow, and the potential for our business to not just weather the storm but come out stronger on the other side. If you've ever wondered about the gritty realities of business ownership, this episode lays bare the dedication and determination it takes to turn the tides.

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Business Buyer Diaries: the Reality Before, During, and After - 288. Gave my pitch last night, working out at the gym, am I winning the longterm game?

288. Gave my pitch last night, working out at the gym, am I winning the longterm game?

Business Buyer Diaries: the Reality Before, During, and After

play

10/19/24 • 11 min

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Discover the secrets to smart business acquisitions and work-life harmony in our latest episode. What if buying a business could be as systematic as a science experiment? We promise you'll leave with a stronger understanding of the strategic complexities involved in purchasing businesses under $1 million. Get ready to navigate the business acquisition landscape with the FIRE method—Find, Investigate, Run, Exit—ensuring you never overlook a critical detail again. Gain practical insights into identifying opportunities, boosting your prospecting response rates, and why mastering skills typically outsourced, like quality earnings assessments, can be your ticket to substantial savings and smarter decisions.
But there's more—how do you balance the relentless chase for career milestones with personal fulfillment? This conversation tackles the challenging dance between professional ambitions and personal dreams. We reflect on the delicate tension between short-term achievements and long-term life goals, focusing on aligning daily actions with your vision for a rewarding future. Let us inspire you to question whether your current path truly serves both your career and personal aspirations, encouraging a thoughtful commitment to cultivating a life where success and happiness coexist harmoniously.

Support the show

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Business Buyer Diaries: the Reality Before, During, and After - 217. How I’m handling worry and anxiety

217. How I’m handling worry and anxiety

Business Buyer Diaries: the Reality Before, During, and After

play

06/03/24 • 10 min

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Life's turbulent seas didn't spare me as I navigated the choppy waters of dwindling business deposits and shrinking revenue. In our latest episode, I lay bare my journey through this storm, revealing the proactive maneuvers that are helping me steer the ship clear of disaster. From meticulous transaction reconciliation to ensuring seamless payroll operations, I combine practical financial tactics with the profound philosophical anchors I've found in the Bible and Dale Carnegie's wisdom on conquering worry. Join me for an intimate exploration of facing our fears, taking decisive action, and the art of living in "day-tight compartments" to keep the anxiety of uncertainty at bay.
The winds of change are blowing through the corridors of our beloved franchise as well, with our founder's impending retirement and talks of a merger making waves. Reflecting on three decades of service, I ponder the lessons of franchise ownership, the bittersweet nature of due diligence overlooked, and the real cost of marginal profits against the weight of immense responsibilities. As we gather with fellow franchisees and founders to chart the course ahead, I share insights on the importance of community and the solace found in savoring the present moment, whether it be through an engaging audiobook or the fulfillment of daily work. Tune in as we tackle the complexities of transition and the timeless pursuit of balancing business acumen with personal peace.

Business Buyers Club
Enter 070499 at checkout. Network and connect with other Acquisition Experts!
Learn DIY Due Diligence
Get training from an Acquisitions Attorney to become a DIY Due Diligence buyer!
SanterMedia - My goto Marketing Agency
My studio was struggling with leads and this agency goy my lead volume to 150% of goal.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.

Support the show

bookmark
plus icon
share episode
Business Buyer Diaries: the Reality Before, During, and After - 347. If you’re paying a professional then do what they tell you to do

347. If you’re paying a professional then do what they tell you to do

Business Buyer Diaries: the Reality Before, During, and After

play

12/17/24 • 4 min

Send us a text

Navigating the choppy waters of financial transitions can be daunting, especially when unexpected changes catch you off guard. This week, we share our own story of navigating a major shift in our professional and personal finances. After receiving significant news that reshuffled roles within our team—including the appointment of an interim GM alongside our current GM who is transitioning out with severance—we found ourselves reevaluating our financial strategies. Join us as we candidly discuss the emotional and psychological challenges of adjusting to a more constrained budget, sharing insights into how we're simplifying our entrepreneurial ventures and practical steps for managing our finances effectively.
Our journey isn't just about cutting costs; it's about confronting discomfort and adapting to new financial realities while staying true to our frugal roots. Despite our pride in minimal spending and maintaining a stellar credit score, we've received advice urging us to fully utilize our budget, even if it means stepping outside our comfort zone. From sending a long email to our attorney with essential documents to reassessing our modest lifestyle—which includes swapping phones every few years and driving rusty vehicles—we explore how balancing familiar financial principles with new strategies can lead to stability. Tune in to hear our thoughts on embracing the discomfort necessary for financial growth, and perhaps find some inspiration for your own financial journey.

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FAQ

How many episodes does Business Buyer Diaries: the Reality Before, During, and After have?

Business Buyer Diaries: the Reality Before, During, and After currently has 360 episodes available.

What topics does Business Buyer Diaries: the Reality Before, During, and After cover?

The podcast is about Management, Entrepreneurship, Podcasts, Business and M&A.

What is the most popular episode on Business Buyer Diaries: the Reality Before, During, and After?

The episode title '173. Why companies don’t owe you reasons, post fake jobs, and aren’t obligated to be warm and fuzzy' is the most popular.

What is the average episode length on Business Buyer Diaries: the Reality Before, During, and After?

The average episode length on Business Buyer Diaries: the Reality Before, During, and After is 9 minutes.

How often are episodes of Business Buyer Diaries: the Reality Before, During, and After released?

Episodes of Business Buyer Diaries: the Reality Before, During, and After are typically released every 14 hours.

When was the first episode of Business Buyer Diaries: the Reality Before, During, and After?

The first episode of Business Buyer Diaries: the Reality Before, During, and After was released on May 31, 2023.

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