Let's talk to entrepreneurs who want to learn how to start buying businesses.

How does that work? Do I just approach someone, say, hey, here's 100K, write my name on the LLC,

let's make money here.

Maybe I've never done it that way but could work you know.

Sounds like it might work.

Yeah exactly just give him a smile.

Yeah so we teach 10 give them the smile. So we teach 10-step sort of methodology for how to buy businesses that I stole from private equity because that's my background. So I was playing that game for a long time. And it's pretty straightforward,

but what I would say, like the number one step

that most people miss that I think

is really important for you guys,

as you think about it, is buying businesses is so wide it's way

too wide and so where people fuck up is that they say like what kind of business

any business there's no real intelligent constraints on it

and the difference between buying houses and buying businesses is a few fold one you can

make a lot more money buying businesses and you can individual houses

typically they cash flow much more intensively much larger growth

trajectory to though the opposite side of that coin is that businesses can be a

pain to actually run and they can go to zero

unlike a house is unlikely to go to zero and so you really have to focus the most I think

on two things that almost every investor forgets. I was out another

mastermind this one for people that all had to have at least 10 million dollars to be in the crowd. It's about

two two hundred people ten million bucks in a in the crowd. It's about 200 people, 10 million bucks and above a couple

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