Thinking about buying a small business? You’ve probably seen all the hype online about acquisition entrepreneurship—no money down, seller financing, and easy paths to wealth.

But what if most of that isn’t true?

In this episode, Kinza Azmat, a business broker and acquisition entrepreneur, breaks down the realities of buying a business, the biggest misconceptions, and what buyers and sellers get wrong. We dive into red flags in deals, the truth about business brokers, why most businesses aren’t actually sellable, and how to avoid a financial disaster.

If you’re considering buying or selling a business, this episode will help you go in with your eyes wide open and avoid the pitfalls that many first-time buyers fall into.

Topics Discussed:

🔥 The biggest myths about buying a business (and what first-time buyers get wrong)

🔥 Why some businesses should never be acquired—even if the financials look great

🔥 How to uncover hidden risks before signing an LOI

🔥 Why business brokers sometimes overpromise to sellers (and how that affects buyers)

This episode is a must-listen for anyone thinking about buying or selling a business.

Resources Mentioned:

1. Kinza’s Book (Preorder & Course Access) – Check it out https://www.thechiefrebel.com/

Become an Unpolished MBA Guest: https://unpolishedmba.com

LinkedIn: https://www.linkedin.com/in/moniquemills/

Bio Website: https://moniquemills.biz/

TPM Focus - Strategy Firm for Startups and SMBs: https://tpmfocus.com/

Company --> thechiefrebel.com

Book --> https://www.thechiefrebel.com/book

LinkedIn --> https://www.linkedin.com/in/kinzaazmat/

Become an Unpolished MBA Guest: https://unpolishedmba.com

In this episode, Jed shares his experience of buying and losing a business, the lessons he learned, and his mission to shed light on the often-overlooked challenges of business acquisitions. His forthcoming book, Buyer Beware: Real Stories of Business Acquisition Failure, compiles stories of searchers who’ve faced setbacks, offering actionable takeaways.

Key Takeaways:

• The importance of cash flow management and its impact on business viability.
• Why the character of the seller matters as much as the financials of the deal.
• Understanding behavioral finance in the context of business transactions.
• The value of sharing failures and lessons learned to guide future buyers.
• Why traditional vs. self-funded search is a lifestyle decision, not just a financial one.

Resources Mentioned:

1. Jed’s Book Presale Page – Sign up for early access and snippets from the book--> https://buyerbewarebook.carrd.co/
2. Search Fund Study --> https://hadleyfamilycapital.com/wp-content/uploads/120907-Search-Funds_Death-and-the-Afterlife_Benjamin-Kessler_9.7.2012-1.pdf

Become an Unpolished MBA Guest: https://unpolishedmba.com

LinkedIn: https://www.linkedin.com/in/moniquemills/

Bio Website: https://moniquemills.biz/

TPM Focus - Strategy Firm for Startups and SMBs: https://tpmfocus.com/

Guest Co-Hosts:

Company --> thechiefrebel.com

Book --> https://www.thechiefrebel.com/book

LinkedIn --> https://www.linkedin.com/in/kinzaazmat/

Company --> Sunset Coast Partners

NEW BOOK RELEASING SOON! https://buyerbewarebook.carrd.co/

LinkedIn --> https://www.linkedin.com/in/jedmorris/

Newsletter --> https://stillsearching.beehiiv.com/subscribe

This episode features Yvette Owo, an acquisition entrepreneur and accountant. The discussion focuses on the crucial role of quality of earnings (QOE) reports in the acquisition process and how they help identify financial discrepancies, whether due to errors or fraud.

Yvette emphasizes the importance of understanding revenue spikes, working capital adjustments, and boundary setting in professional relationships. Practical advice is given on handling client demands, HR analysis, and different approaches to conducting QOEs, including the depth of analysis and associated costs.

Essential business topics such as customer concentration, account receivable aging, and proof of cash are explored, providing listeners with vital insights into managing finances during acquisitions.

The conversation underscores the need for thorough due diligence and the value of engaging experienced professionals to ensure successful business transitions.

Don't miss this episode if you're serious about navigating the entrepreneurial journey with eyes wide open.

Books Mentioned:

• Not Nice by Dr. Aziz Gazipura.
• Set Boundaries, Find Peace by Nedra Glover Tawwab

Become an Unpolished MBA Guest: https://unpolishedmba.com

https://www.yvetteowo.com/

Company: https://www.yoloaccounting.com/ and https://www.cfo-cpa.net/

Twitter: @yvetteowo

LinkedIn: https://www.linkedin.com/in/moniquemills/

Bio Website: https://moniquemills.biz/

TPM Focus - Strategy Firm for Startups and SMBs: https://tpmfocus.com/

Become an Unpolished MBA Guest: https://unpolishedmba.com