James Schramko Podcast

James Schramko Podcast


1036 – Buying a Business Versus Starting a Business With Sophie Howard

October 03, 2023

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…