James Schramko Podcast
1036 – Buying a Business Versus Starting a Business With Sophie Howard
01:25 - If Sophie Howard seems familiar, here’s why…
02:54 - Over a matter of years, Sophie has managed to build a continuously expanding portfolio.
07:08 - Why do people typically sell profitable businesses?
09:36 - Here are some pivotal skills when deciding, is buying an existing business a good idea?
12:41 - In terms of liquid cash potential, how much to buy a business is enough?
16:51 - Involved in the work, or hands off investor? Both have pros and cons.
24:43 - Integrating one's passion can be significant when building or buying a business.
26:47 - Knowing what works for you and leaning on that can have great impact in buying and growing businesses.
28:20 - Navigating the big platforms is a skill that can come in handy.
30:10 - Diversifying is one safeguard against potential losses.
32:40 - Hailing from a family of early retirees, has Sophie ever thought of following suit?
35:04 - There are questions to ask when buying a small business, as Sophie teaches.
38:58 - Be mindful of these tips before committing to your first business acquisition…