132: Buying a Business vs. Starting a New One, with Ace Chapman

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 12 November 2019

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ace Chapman is an Investor Strategist who has bought and sold over thirty businesses and has helped his clients buy over one hundred businesses all over the world. He bought his first business when he was nineteen. It was an online stock market simulator called CoolWallStreet. After selling it, he then realized that there are more benefits in buying a business over starting one, which paved the way for his investment career.

On this episode, Ace weighs the difference between buying a business and building a business. As an investor himself, he explains his approach to business that may help other investors generate the best returns. This is also an inspiring episode where he shares his amazing journey from being a college drop out to becoming a successful businessman.

Where we are:

Johnny FD – Mexico
Sam Marks – Russia

Links:

Time Stamps:

09:05 – Ace’s Story
17:43 – What are the businesses he has ownership of?
20:41 – Buying a business vs. building a business
24:00 – Categories of businesses he is into
25:09 – “Every time you go to a successful business and learn from an entrepreneur who made it to the other end against all odds, you can learn a lot.” – Ace Chapman
29:15 – Pros and Cons of online and offline businesses
40:44 – Financing strategies
47:21 – Where to go for financing
50:02 – The “snowball effect”
56:27 – “Thinking creatively about where to put your money and generate the best returns, that is the real goal.” – Ace Chapman
58:25 – His passive investments
40:03 – “I am definitely an investor” – Ace Chapman
1:00:32 – How to distinguish an investor from an entrepreneur
1:03:39 – Things to consider when buying a business

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Transcript

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0:00.0	Hey bosses. This week's sponsor is masterworks.io, the pioneer in blue chip art investing for everyone.
0:09.2	We'll tell you more about them during the break.
0:13.1	Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:21.5	Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:31.4	Hey bosses, this is Johnny and welcome to episode 132 of the Invest Like a Boss podcast.
0:41.5	I'm in Mexico. Sam is on his way to Siberia.
0:55.7	Is that where you are? Not yet, buddy, but by the time this episode airs, I will be somewhere in the Siberian winter in the middle of Russia, one of your favorite countries, Johnny. Yeah, I've actually never been to Russia, but it's my future favorite country to visit. Yeah. I have a feeling. Well,
1:00.4	you've been studying Russian before you actually ever went there. Kudos to you. Oh,
1:05.5	uh, uh, spasiva, my droog. But you swear not me? You swearing at me?
1:12.9	I think everything in Russian sounds like you're swearing.
1:22.5	But it's going to be funny because I'm going to be sitting here shirtless on the beach in, you know, 90-degree weather, you know, 30-something plus Celsius.
1:25.0	And you're going to be like zero.
1:26.6	You're going to be literally in the snow.
1:28.2	You know what? I'm packing. what are you backing i'm taking uh basically two track suits like the the standard adidas
1:35.6	russian mobster tracksuits and then i ordered i ordered on amazon two uh onesies like a pajama
1:42.6	onesie you just like step in and suit up uh and then I'm going to buy like a really sick fur hat when I'm there. And that's me. I'm going across Siberia just like that, like a Russian mobster. That's pretty dope. I would probably suggest bringing a puff jacket as well that's going to be cold. Yeah, I've heard you can buy that along the entire way. And I was like, well maybe maybe I should take a flask. My buddy's like, who's done it before. He's like, you can literally buy vodka, like from anybody on the train and from at any stop just like along the side of the road. Like people sell Petro and stuff. They're like, you'll just see people selling vodka off a little like stands.
2:18.5	I'm like, cool. I guess I don't need a flask. Well, I hope you don't confuse the two because in Thailand,
2:22.8	the petro and the and the alcohol comes in the same bottles. And it's often sold at the same store
2:29.3	right next to each other. Yeah. It tastes pretty similar as well. That's funny. Well, I wish I could, I'd be able to join you just for like a few days, but I definitely don't want to be stuck on a train for, what, two weeks, three weeks? Yeah. You know, it would be really funny. Our Q4 update photo is going to be hilarious because it's, it's going to be me in the snow in a fur hat, like you said, and you sitting on the beach in Mexico. I love it. I'm still surprised that you already own two tracksuits. There's a dick sporting good next to me. I went and just cleared out their clearance rack, man. I have a bag full of clothes I'm never going to wear again but it's perfect you know I got like a
3:07.8	$20 duffel bag and leaving the microphone at home so when you guys hear this I'll be in
3:13.2	Siberia but we're recording it beforehand just so can basically take a month off
3:17.3	not take the microphone and I'll end actually I end the trip in Hong Kong where
	...

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