382: Being like Elon: Should I buy a business?

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 28 April 2022

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

https://cryptotaxsummit.com/ The 2nd Crypto Tax Summit! May 19th & 20th, 2022 | Miami, FL Elon did it, but how in the world can the rest of us do the same? Let's get into it. We're going to break down the process of buying your future company. You will have to know if the business you are looking at will be profitable, the red flags to look out for, and more! For more episodes and information, check out mainstreetbusiness.com Grab my eBook 30 Unique Strategies Every Business Owner Should...

Transcript

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0:00.0	Welcome, everybody to this week's episode of the Main Street Business Podcast with yours
0:10.1	truly Mark Kohler out lavishing by the swimming pool and Matt Sorrent's in the office.
0:15.8	No, there's no swimming pool. But it's a beautiful spring day and I said, I'm going to be in front of some
0:23.4	Yeah, I thought might as well get outside and get a tan.
0:26.4	I should take that advice because I'm looking pretty pasty white here on video.
0:30.8	And Mark's looking tan, you know, I want you to know, it's because I wore sunscreen, you know.
0:36.8	Oh, yeah, that's a problem. Matt's fiancee, she's all into sunscreen. I've you to know. It's because I wore sunscreen, you know. Oh.
0:38.8	Yeah, that's a problem.
0:40.8	Matt's fiancee, she's all into sunscreen.
0:43.0	I've had to battle that. And I said, I'm more worried about Matt's looks than his skin cancer issue.
0:48.1	So can we really get back on track?
0:50.9	And she's like spray tan or something.
0:52.9	Yeah.
0:53.4	She's having nothing, nothing to do with that but
0:55.7	anyways you're like these guys well if you're new to the show mark and i are both attorneys
1:02.1	we're entrepreneurs out there living the american dream in the trenches like many of you
1:07.1	and um today we want to talk about Elon Musk, buying Twitter, really about, but more about
1:13.7	how you could buy a business. We've had lots of clients buy businesses, sell businesses. Of course,
1:18.3	it's more common to just start one up from zero, but a lot of people enter in and buy an existing
1:23.5	business or franchise. So we thought it'd be great to talk about that and what we can
1:27.5	learn from Elon and what he's doing. Yeah, this is not how to buy Twitter. That might be out of
1:33.2	some of your price ranges. It's out of mine. I can pretty much subscribe to Twitter or sign up.
	...

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