• First-Time Acquisition Entrepreneur Lessons with Zach Smith

  • Sep 11 2024
  • Length: 43 mins
  • Podcast

First-Time Acquisition Entrepreneur Lessons with Zach Smith

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  • Summary

  • In this exciting episode, Jaryd Krause speaks with Zach Smith, a serial entrepreneur with a background in finance, startups, and technology. Zach began his career as a public accountant before moving to Uber in 2013. By 2020, he had ventured into consulting for various startups and later embraced an entrepreneurial path by acquiring his own small business. In 2023, he purchased American Dental Care, a 35-year-old dental discount plan-based business in Houston, Texas. Beyond his professional life, Zach is an avid golfer and a proud father of two. During this episode, Zach shares his journey from tech startups and consulting to business acquisition. He discusses his acquisition strategy, how he developed it, and the rationale behind his decisions. Zach also highlights the significance of lifestyle in his entrepreneurial choices. You will gain insights into the timeline and process Zach went through to find and acquire his business, as well as the lessons he learned during due diligence. The conversation takes a turn as Jaryd and Zach explore who should consider buying a business and who might be better off not pursuing this path. They discuss the fulfillment that comes from different career choices, the impact one can make through business ownership, and the various factors beyond financial gain and lifestyle improvement that contribute to overall satisfaction. This episode is packed with good lessons for aspiring business owners just like you. Better catch this pod! Episode Highlights 04:00 Zach’s journey to business acquisitions 11:45 Acquisition entrepreneur = Dream lifestyle 18:30 Fulfillment of owning a business rather than being an employee 30:00 Respect goes a long way in selling a business! 36:00 Don’t look for a unicorn business Key Takeaways ➥ Zach preferred acquiring an already profitable business over starting a new tech venture due to the lower risk profile and more predictable outcomes. ➥ Traditional jobs offer stability, impressive benefits, and a steady salary. Entrepreneurship provides flexibility, lifestyle benefits, and the potential for significant financial gains, though with greater uncertainty. ➥ It’s essential to accept that no business will be perfect; finding and fixing manageable issues can add value. Due diligence will not reveal everything; new insights will emerge post-acquisition. About The Guest Zach is an experienced entrepreneur with a background in finance, startups, and technology. He started his career in public accounting at EY before joining Uber in 2013. In 2020 he set out on his own, consulting for various startups before discovering an even more entrepreneurial path in owning his own small business. In 2023 he purchased American Dental Care, a 35-year-old dental discount plan based in Houston, Texas. Beyond his professional life, Zach is an avid golfer and the proud father of two amazing young kids. Connect with Zach Smith ➥ https://www.linkedin.com/in/r-zach-smith/ Resource Links ➥ Sell your business to us here - https://buyingonlinebusinesses.com/sell-your-business/ ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Hostinger (Website Hosting) - https://bit.ly/3HUqW0s ➥ SEM Rush (SEO tool) - https://bit.ly/3lINGaV ➥ Generatepress (Fastest Wordpress Theme for blogs) - https://bit.ly/3LcD66i 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3wGa8r5 ➥ Motion Invest - https://bit.ly/3YmJAmO ➥ Investors Club - https://bit.ly/3ZpgioR *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.
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