Marv White holds a BS in Chemical Engineering with a minor in Economics. He is Managing Partner at Bizprofitpro and author of Seven Pillars to Profit, A Blueprint for Small Business Success. He has advised numerous businesses including start-ups, sole proprietorships and large enterprises. He firmly believes that entrepreneurs and business leaders are special people that see the world not as it is but what it can be. Marv White has published over 100 articles about small business and related topics including business exit strategies, growth by acquisition, marketing, sales, human resources and other business related topics.
Business Buyer Toolkit
The tools and resources included in the Business Buyer Toolkit is for people that want to own a small business. It is focused on buying a company with the least amount of money while reducing risk. I have bought and sold several companies and want to give you everything you need to do the same. Get spreadsheets, checklists, business rules of thumb and more to become a business owner.
"The only limit to our realization of tomorrow will be our doubts of today" - Franklin D. Roosvelt
Essentials To Buying a Business
The essentials to buying a business can be grouped into three categories: Body of Knowledge, Deal Making, and Funding. The body of knowledge is about the mechanics of doing deals, but deal-making and funding are more the art of business. I have assembled the knowledge, deal making and funding in a Business Buyer Toolkit that was created from my personal journey. Most business books, online information, and universities don't focus on small businesses under ten million dollars in gross sales. The tools and resources contained in this Business Buyer Toolkit are focused only on small business which make up more than 90% of businesses in the United States.
Big Corporations Versus Small Business
What works for business leaders like Elon Musk, Warren Buffet, and Mark Cuban will not work for 99% of companies that are between $500K and 10MM dollars. Big businesses have investment bankers, armies of lawyers, and accountants, which small businesses don't. This is why the resources and tools needed to buy a small business are different than what works for big corporations. There is not enough attention focused on buying small companies so I created tools and resources to fill this need.
99% of businesses are between $500K to $10MM which is the definition of a small business.
My Business Journey
A little bit about me. My first business was a true start-up. I bought equipment and rented 2500 ft.² of space. I made a sign. , put it over the door, and was in business. It was an exciting moment filled with fear and anticipation. I had orders lined up for my new machinery and was on top of the world. I did fist bumps and high-fives with myself because I had zero employees at the time. The celebration didn't last long because the contract was canceled, and I had no sales.
I made my first major mistake by doing a start-up as opposed to buying an existing company with orders, staff, and processes in place on day one. I eventually picked up some customers and started filling orders. I also began doing subcontract work for a large company. The owner of the large company liked the quality of the product being produced and made me an offer to become a minority partner. I accepted the offer and now was part owner of a larger company. The company was growing nicely, and I was thrilled with the arrangement. After a few years, the majority owner decided to retire suddenly. He said I would have to buy him out.
Getting an SBA Loan
I was terrified and had no idea how to buy a company, but I had no choice but to learn quickly. I got an SBA loan, and the majority partner held a seller note for 30% of the sales price. I was now the owner of a larger company with customers, employees, and trained staff. Things were going well, and the SBA loan was paid off from the profits from the business.
After paying off the SBA loan, the bank wanted to make me a new loan. I had just paid off a big loan with the bank, and I didn't want new debt. The banker asked if there was new equipment I wanted or money to expand. A light bulb went off in my head, and I wondered if I could acquire another company to add to my existing business. He said yes, and that would be the first of several acquisitions. The business grew faster and larger than I ever thought possible. I later sold the business and started a new chapter.
The Day I Sold My Company
This is the day I sold my business. I learned that owning a business was the best way to provide for myself and family. I would never have had the financial rewards and lifestyle of being an employee. In my opinion, I think profit from other people's labor with infinite upside potential is the best part of being a business owner. I learned recently CEOs get, on average, 20% pay increases while workers get 3.9% wage increases which doesn't even keep up with inflation. It's hard to become wealthy without business ownership.
The Next Chapter
After selling the company, I became an author and published Seven Pillars to Profit. Seven Pillars chronicles my personal experiences as a business owner. It describes best practices to operate a profitable business. It's based on my triumphs and failures as an entrepreneur.
I also co-authored The Art & Science of Success which would go on the be a best seller on Amazon. Next, I became an Accredited Business Intermediary and founded Bizprofitpro, LLC to help entrepreneurs buy companies. I also took some time to learn how to sail on the Chesapeake Bay in Maryland. Enough about me, let's get back to the reason you are probably here.
Know What Any Business Is Worth
There are countless business valuation methods that can have wildly different conclusions. Fortunately, there is a fast, reliable way to know what a business is worth by using "Business Rules of Thumb". Business Rules of thumb is where the experts go to quickly know what a company is worth. You will get Rules of Thumb for virtually every business as one of the resources included in the Business Buyer Toolkit. Find the Rules of Thumb for the business you want to value, and look up all the data and tips to accurately value a business in minutes.
Personality Assessment for Entrepreneurship is included using a DISC Profile in this course. It is a behavioral self-assessment tool to help deepen the understanding of yourself for business. It's a tool developed in 1928 by psychologist William Moulton Marston that identifies your how your personality is suited for entrepreneurship and other pursuits.
It's important to understand the financial aspects of a business, but it's also important to know how your personality suits business so you can enjoy the maximum success and happiness in business. The DISC Profile will tell you in plain English if you are suited for business or not. I gave myself the test and it was amazingly accurate.
Setting Business Criteria
Business search criteria is based your skills and personality that we learn from your DISC Profile and Business Buyer Questionnaire. Business suitability is the biggest factor in determining success and happiness in business. It will also make your search more focused and efficient. You won't waste time with businesses that may offer financial rewards but may make you miserable. It's critical that you have a systematic approach to search for businesses. The search should be targeted and efficient to analyze and engage as many companies as possible. Plan to research and engage dozens of businesses to find ones that meet your criteria and is willing to offers the terms that you need to get a deal done. Here is where persistence and high deal flow is required.
Making The Deal
Much of getting a great company with little or no money is about building relationships based on trust and mutual respect. You can only gain trust and respect by understanding the business buying process and having the right tools and resources.
The true art of business is being able to make deals. It's vital to create deal structures that allow you to acquire companies. Making a business plan is a crucial planning stage to work on deal structure and how the business will operate. The Small Business Administration (SBA) and most lenders will require a business plan. A business plan is the blueprint to fund and operate the company.
Business Plans as Good as Money
Business Plans are almost always required for funding. A well-written business plan will make business owners (sellers) more likely to hold a seller note or a lender to fund your deal. A business plan makes applying for loans easier because you can re-use relevant parts of the business plan into the loan application. Business plans fulfill various purposes, including funding, partnerships, operations, pitch deck, credibility, and more. The Business Buyer Toolkit includes business plan templates and Business Benchmark Data that you can copy-past into your your plan and save time researching.
Why Now is The Time
Thousands of business owners who are baby boomers are retiring every day. According to CNBC, most of them don't have any succession plan or exit strategy. That means thousands of companies are up for grabs every day that you can own with little money. Baby boomers will cause the greatest transfer of wealth in history, which is happening now. There need to be more entrepreneurs ready to take over these businesses, or they will be forced to shut down.
67% of U.S. Small Businesses are owned by baby boomers. These business owners are retiring and will be the greatest wealth transfer in history projected to be $48 Trillion by 2045. Business owners are 9% of the population, but account for 88% of millionaires. It's estimated that 80% of these business owners are at risk of shutting down profitable companies because there are not enough entrepreneurs with the knowledge to structure a deal and take over.
Real Life Experience
I created this Business Buyer Toolkit for entrepreneurs ready to take action. I am offering resources developed and used many times over in multiple transactions. It will give you information and resources to buy a profitable company. As a bonus, I am giving away a ebook copy of Seven Pillars to Profit and The Art & Science of Success.
Learn how to target and find the right companies that can be acquired with little or no money down. Knowledge is more important than money if you understand what the seller wants more than money.
Massive Businss Opportunity
There is a massive opportunity right now for entrepreneurs to get a profitable business quickly. People with the skills to acquire companies will be able to take advantage of millions of businesses baby boomers will be leaving behind. These businesses are worth trillions of dollars and must be transferred soon.
Business Buyer Training & Resources
Table of Contents
Lessons in Buy A Business With Little or No Money:
1 The First Step to Buy a Company
Objective: What To Expect From The Program
2 Business Suitability Profile
Objective: Determine Your DISC Personality Test For Business Suitability
3 The Business Suited for Your Personality
Objective: Understanding Your DISC Profile
4 Where to Get The Money
Objective: Learning How to Fund a Business
5 Setting Business Criteria
Objective: How to Focus On The Right Companies for Acquisition
6 Finding The Right Business
Objective: How To Find The Right Business
7 How to Analyze a Franchise
Objective: Franchises Can Be Great Deals If Done Right
8 Buying a Recession Resistant Business
Objective: Recession Proof Bushiness's to Consider
9 Sample Letters to Contact Business Owners
Objective: How To Create a Constant Flow of Deals
10 How to Talk to Business Owners
Objective: Get Business Owners to Loan You Money
11 Question to Ask Business Owners
Objective: Preparation questions for meeting with sellers
12 Make Sense Out of Financial Statements
Objective: Know The Numbers Better Than The Owner
13 Calculating Adjusted Cashflow
13 Simple Rules of Thumb to Value any Company
Objective: Know What Any Business is Worth
15 How to Make Your First Offer
Objective: How To Make an Offer
15 Go From No Deal To Deal
Objective: Turning No's to Yes's
16 Get Low Ball Offers Accepted
Objective: Make The Seller Say Yes to Your Deal
17 Simple Rules to Negotiate Like a Pro
Objective: Learn to Negotiate Like a Pro
18 Know Financial Performance Without Seeing Numbers
Objective: How to do due diligence with missing financial data
20 The Forms You Need To Make a Deal
Objective: Using the proper forms
21 Business Plan Writing Shortcuts
Objective: Get A Plan That is as Good as Money
22 Closing The Deal Checklist
Objective: A Complete List of Everything You Need to Do to Buy a Business
The Training & Resources To Buy a Company
You can buy a business with little or no money but that doesn't mean its not without risk. Virtually every commercial loan will require a personal guarantee or be secured by assets. Being an entrepreneur comes with risk. The definition of an entrepreneur is "a person who organizes and operates a business, taking on greater than normal financial risk in order to do so". Skydiving is considered dangerous too, but using a parachute and getting properly trained minimizes the risk. The odds are 99.7% in your favor by taking proper precautions. The same is true in business and this course provides the tools and training to minimize your risk in buying a company.
Adjusted Cash Flow Worksheet to Calculate Business Value
Digital Copy of Seven Pillars to Profit (A blueprint for small business success)
Business Rules of Thumb & Benchmark Data for Business Valuation and Business Plans
22 Lesson Buy a Business with Little or No Money Course
Library of Business Forms that Include Letter of Intent, Purchase & Sale Agreements, Checklist and More
Instructions to Use all the Resources in Plain English
Sample Letters to Send to Business Owners to Get Deal Flow
What People Are Saying:
“"Highly recommend the team at Bizprofitpro Business Consultants! Marv and Shawn are true professionals who work as members of your company team to understand the details and nuances of your business. They work with the C-suite and make suggestions and to highlight and enhance your company presence. They do the leg work and bring in only high quality leads who are ideally matched with your business. On top of that, they are fun to work with! Again, I highly recommend!"”― Lisa Ray, PMP, PMI-ACP
“"4 Star Job, couldn't be more please about the outcome"”― Timothy Middleton
“"Very knowledgeable about businesses and will work hard to get you the best deal."”― Anthony Brindle
“"Bizprofitpro did a great job representing, listing and selling my manufacturing business quickly. Marv White understands the challenges that small businesses face when they are listed for sale and he makes recommendations based on experience.
"”― Dan Kenner
About Marv White
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. " - Mark Twain
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