Take Five #124: All about Net Working Capital (NWC) and how it impacts deals, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #123: CPA explains how to use the tax code to save (a lot) on your SMB purchase, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #122: How franchise bolt-ons can complement core business offerings and accelerate growth, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #121: How to use Unit Economics to analyze profit (and loss) potential, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #120: M&A lawyer explains the Landlord Waiver (LLW), and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #119: 10 elements of a robust SMB financial analysis system, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #118: An effective 4-point employee pay structure, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #117: Deal Killer of the Week: P&L might not tell the whole story, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #116: Differences between recurring, re-occurring, and one-time revenue, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #115: New financials vetting method that saves time and money during QofE, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #114: What to consider when choosing a search fund name, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #113: “How to Present Your Deal to Investors (And Get 4x Oversubscribed)," and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #112: A 9-point inventory due diligence process to find flaws that could sink a deal, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #111: Ways to increase business value through revenue quality (not quantity), and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #110: 6 types of “invisible” debt companies can carry, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #109: When to expect a liquidity crunch, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #108: 4 ways to gain leverage in the EtA search market, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #107: Attorney explains the Landlord Waiver and how it impacts SBA-financed deals, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #106: Using a company’s equipment value to finance the business purchase, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #105: How to use the Operating Co-Property Co structure, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #104: Ways to expose how much an SMB’s day-to-day depends on its selling owner, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #103: Top 5 LOI missteps and how to avoid them, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #102: 4 budgeting methods + their pros and cons, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #101: 6 myths and misconceptions you might hear from SBA banks explained, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #100: How much to budget for a self-funded search, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #099: Balance sheets, statement types, and accounting terms explained, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #098: How to use Return on Assets (ROA) during the SMB acquisition assessment process, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #097: 10 Cash KPIs defined + formulas, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #096: What to ask the seller during an SMB acquisition call, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #095: Stock Sale vs. Asset Sale, how asset allocation impacts an SMB transaction, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #094: Two most common SMB valuation methods explained, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #093: Comparing M&A Closing Options: Simultaneous Sign and Close vs. Sign Then Close, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #058: The only KPI you need, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #059: New real-time consumer index predicts purchasing probabilities, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #092: Two ways to pivot after a QoE setback, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #091: Simple, step-by-step business finance flowchart, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #060: HoldCo CEO vs Regular CEO, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #061: Seriously sound advice from a boring business buyer, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #062: How a home services business buyer hit $45M in 3 years, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #090: 20 questions to ask when analyzing a business purchase, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #089: Why you need to invest in professional QoE, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #063: Study shows strategic small business buying = bigger gains, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #064: 13 types of deal structures, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #088: How to structure a Contingent Purchase Price offer, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #087: Detailed list of due diligence questions that sellers and potential buyers should answer, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #086: 2023 Wrap with peak search season advice, 90-day close timeline, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #085: 16 questions to ask when buying a business, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #065: Pricing strategies, top tactics, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #066: Before-you-buy due diligence checklist, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #067: Digital marketing wins & fails from a business owner in the trenches, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #084: Top 5 SBA financing questions answered, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #083: Due diligence checklist for Notion, with template and brief explainer video, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #068: Due diligence blind spots, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #069: Step-by-step business-buying process, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #082: Benefits of implementing an Entrepreneurial Operating System, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #081: Post-close seller relationships: what can go right, wrong, and sideways, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #070: Buyer brings $40K to $2.5M business purchase, gets 80% equity, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #080: A residential services sales process bringing in ~$10M/year, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #071: How to structure a purchase deal with investors as a self-funded searcher, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #072: Small business valuation guide, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #073: SBA 7a approval process and SOP questions answered, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #079: 4 types of HoldCos and when to tap into them, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #078: How to optimize business cashflow, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #074: 4-month formula to get profits flowing post-purchase, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #077: How to snowball a $300,000 SMB purchase into a $100M HoldCo, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #076: How to create a business plan you'll actually use, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #075: Warren Buffett’s financial statement rules of thumb, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #057: The biggest mistake SMBs make with their finances, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #056: Updates on Debt Ceiling Deal for SMBs, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #055: EF's State of the Industry Report 2023, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #053: What you missed about the Stanford Search Fund Study, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #052: How to harness ChatGPT for buying and operating businesses

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #051: Results from the 2023 SaaS CEO Survey show higher multiples, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #050: 8 steps (and tools) for launching a proprietary search in 3 days, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #049: How are PE firms funding billion dollar buyouts? ARR loans

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #047: How one holdco with $2 billion in revenue last year acquires one company a month

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #046: Japan’s business owners are giving away their companies, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #045: How one PE pro evaluates deals with some simple back-of-the-napkin math, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #044: The blueprint to acquiring a 3.7M business without putting any money in

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #043: Which KPIs are the most important, according to someone who has acquired 37 businesses, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #042: The 13 questions you should be asking to identify great deals

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #041: Here’s what sellers are really thinking, and more

Top five must-reads this week in the world of SMB acquisitions and operations

Take Five #040: How one pro bought 20 businesses last year, and plans on acquiring 40 more this year

Five takeaways we loved at Kumo this week

Take Five #039: The 2023 Self-Funded Search Study, with data from 250 searchers, and more

Five takeaways we loved at Kumo this week

Take Five #038: The 27 best threads for small business & entrepreneurship in 2022 and more

Five takeaways we loved at Kumo this week

Take Five #037: “Congratulations, you have structured a deal that does not work” and more

Five takeaways we loved at Kumo this week

Take Five #036: 136 comments to the question: “Has anyone bought a business without prior industry experience?” and more

Five takeaways we loved at Kumo this week

Take Five #035: Why the next 8 weeks are vital for sourcing (and talking to sellers!) and more

Five takeaways we loved at Kumo this week

Take Five #034: How to REALLY speak to a seller (and prevent your deal from blowing up) & more

Five takeaways we loved at Kumo this week

Take Five #033: How ETA will change from a small, niche community into a professional asset class larger than VC, and more

Five takeaways we loved at Kumo this week

Take Five #032: The gory details of what it takes to get a deal done, and more

Five takeaways we loved at Kumo this week

Take Five #031: Are searchers the most hated buyers to work with? One man’s take, and more

Five takeaways we loved at Kumo this week

Take Five #030: The most straightforward way for anyone to become a millionaire, and more

Five takeaways we loved at Kumo this week

Take Five #029: Are rollups the most predictable way to get wealthy? ($10m-$50m)

Five takeaways we loved at Kumo this week

Take Five #028: How one entrepreneur put in $50K, kept 85% ownership, and got a $5M loan for a $12M business

Five takeaways we loved at Kumo this week

Take Five #027: A 49-tweet masterclass on how to structure your mini-Berkshire Hathaway, and more

Five takeaways we loved at Kumo this week

Take Five #026: What sort of trends are bankers seeing in the SMB market? and more

Take Five #025: Maintain discipline. Kill deals. Win the SMB search.

Five takeaways we loved at Kumo this week

Take Five #024: Why EBITDA can be a terrible measure of profitability

Five takeaways we loved at Kumo this week

Take Five #022: A business with 87% EBITDA profit margin, and more

Five takeaways we loved at Kumo this week