The 7 Steps To Buying A Profitable Revenue Stream Course

Step 5 – Finding a Deal

Hopefully, you haven’t jumped to this step as a lot of people want to do. It is important to
follow the steps.

Think of what you are doing as building an exclusive club. You want to be very selective in who
you let into this club.

So, you have built a “Dream Team” and are represented by impressive law and accounting
firms. And you have a plan to acquire businesses by consolidating a fragmented business. You
have a plan that people will believe will actually work. You also have the team who can do it
and has “been there, done that!” You have credibility!

So, how do you find businesses to acquire?

I am a fan of buying businesses which are not for sale and not going to a “business broker”.

Most “mom & pop” entrepreneurs are so busy working in the business that they don’t work on
the business. Most have no exit plan. That is where you and your team come in.

I explain the process in detail in the step 5 video but here are several places and ways to find
businesses that are not for sale.

• Industry associations
• Government lists
• Your industry expert
• Your law and accounting firms
• Directories
• Internet searches give a ton of ways to search
Once you have identified your potential acquisitions you want to contact them. “Never Ask,
Never Get!” right?

Here are two examples of letters that have worked great as I explain in the video.

“Cold” contact correspondence

Follow up correspondence after “cold” contact

After you have an interested entrepreneur the work begins with your “Dream Team” and your
law and accounting firms to execute the due diligence.

Be careful!

You will do well to remember to “investigate before you invest!”

Now that you’ve found a business to acquire that looks good, has passed your due diligence
and you’ve reached an agreement you need to finance the acquisition which is the subject of
step 6 “Financing Your Deal.”

To Your Quantum Leap,

Bruce