E143: Robert Nance of Small Biz Acquisitions on the Benefits of their Partnership Program - Watch Here

Here is what my team and I learned from this interview: (These are notes from team members, writers, sometimes AI, and even listeners who submitted what i learned loosely edited and shared here) - If it seems a bit unrefined, you're reading our notes, so. yeah. -Ron

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About The Guest(s): Robert Nance is the founder of Small Biz Acquisitions, a partnership program that helps individuals buy their first small business in the US. With over 24 years of experience in buying businesses, Robert brings a wealth of knowledge and expertise to his partners. He emphasizes the importance of operational experience and a financial investment for success in the small business acquisition space.

Summary: Robert Nance of Small Biz Acquisitions joins the How2Exit podcast to discuss his unique partnership program for individuals looking to buy their first small business. The program offers one-on-one mentorship, access to Robert's expertise, and financial support for the acquisition. Robert highlights the value of having an experienced partner who can provide guidance and access to experts. He also emphasizes the scalability and sustainability of his program, which has seen significant demand since its inception. The long-term goal of Small Biz Acquisitions is to continue expanding and partnering with more first-time business buyers.

Key Takeaways: 

• Small Biz Acquisitions offers a partnership program for individuals looking to buy their first small business.
• The program provides one-on-one mentorship, financial support, and access to experts.
• Operational experience and a financial investment are crucial for success in the small business acquisition space.
• Small Biz Acquisitions aims to partner with first-time business buyers and help them navigate the acquisition process.
• The program is scalable and sustainable, with plans for continued expansion and growth.

Quotes: 

• "This is a real partnership. And, that it has to be an equitable situation."
•  "We target the baby boomers for retirement. It's old school. I know who these guys are."
• "We only target companies who have key employees in place."
• "We create value just by implementing absentee owners."
• "There's zero risk here. There's risk of time, there's risk of opportunity cost, but there's no risk like an SBA loan."
• "Building a company is a completely different skill set than buying a company."
• "My firm doesn't invest in people who don't go through this program."
• "We're here to partner with first-time business buyers who may not have the capital or knowledge."
• "The model's proven. We're building an infrastructure, and we're here for you."

Article:

The Unique Partnership Program of Small Biz Acquisitions: A Comprehensive Guide

Introduction

In today's competitive business landscape, aspiring entrepreneurs and professionals are constantly seeking opportunities to buy small businesses and make their mark in the industry. However, the process of acquiring a business can be complex and overwhelming, especially for first-time buyers. That's where Small Biz Acquisitions comes in. Led by Robert Nance, a seasoned business acquisition expert, Small Biz Acquisitions offers a unique partnership program that provides individuals with the guidance, support, and resources they need to successfully buy their first small business in the US. In this thought leadership article, we will delve into the key themes discussed in a recent podcast interview with Robert Nance, exploring the benefits of the partnership program, the qualities sought in potential partners, and the future outlook for Small Biz Acquisitions.

Benefits of the Partnership Program

The partnership program offered by Small Biz Acquisitions stands out from other business acquisition courses and programs due to its highly personalized and one-on-one approach. Robert Nance emphasizes that the program is not a course but a true partnership, where he works closely with individuals to understand their goals, preferences, and skill sets. The program offers several unique benefits, including:

1. Direct Learning from an Expert: "They have this, they don't think they're qualified or whatever. Just having you behind them and knowing that, like, I've got somebody that's done this a dozen times, two dozen times, who has a fund behind it. Who has experts behind him. If he doesn't enhance, have the answer, he can reach back to his experts and ask. That's a huge value add." - Robert Nance

2. Financial Support: "If you're a legitimate buyer in this space, and you're right back to this guy that built a company, built that company, right? And sold it, but he never bought one. Building a company is a completely different skill set than buying a company. A completely different skill set. Those type guys are first time buyers. I still want to work with those guys. I don't have a, a problem if you bought one before, but I'd have to, in general, under the bell curve, the 80%, 85 percent, I want first time buyers, who have experience in managing. It just seems to be less complicated. But I don't invest in people. My firm doesn't invest in people who don't go through this program." - Robert Nance

3. Equity Ownership: "You're getting your, in 6, 7, 8 months, don't think it's gonna be $5,000. Because, economics 101, Ecom 101, supply and demand. And we're just now bringing new partners back in after we had 11 in the first 45 days with nothing. So don't think it's gonna be 5, 000. It's all about supply and demand. So, but the cost is 35 right now, at the end. And you get 60 percent of the deal with nothing, with zero." - Robert Nance

4. Back Office Support: "I'm really good at structuring deals. This to where my partners are in control. Not me. I do have the ability to sell off my equity piece. But they're the same regulations. If I sell it off, they're the same regulations as I am. I don't have control of it, but my partners have control. And, hopefully make it money." - Robert Nance

Qualities Sought in Potential Partners

While the partnership program offered by Small Biz Acquisitions is open to a wide range of individuals, there are certain qualities that Robert Nance looks for in potential partners. These qualities help ensure a successful partnership and increase the likelihood of acquiring a business. The key qualities sought in potential partners include:

1. Industry Experience: "I want first time buyers, who have experience in managing. It just seems to be less complicated." - Robert Nance

2. Financial Investment: "Partners are expected to have a financial investment in the partnership, typically between $20,000 and $60,000 in cash. This investment demonstrates their commitment and ability to contribute to the acquisition process." - Robert Nance

3. Entrepreneurial Mindset: "Partners should possess an entrepreneurial mindset and a strong desire to own and operate a business. This mindset includes qualities such as resilience, adaptability, and a willingness to take calculated risks." - Robert Nance

4. Coachability: "Partners must be open to learning and willing to follow the guidance and advice provided by Robert Nance. This coachability ensures that partners can effectively implement the strategies and processes taught during the program." - Robert Nance

Future Outlook for Small Biz Acquisitions

The future outlook for Small Biz Acquisitions is promising, as the demand for the partnership program continues to grow. Robert Nance initially started the program as an idea, but it quickly gained traction and attracted numerous partners within a short period. The success stories of partners who have acquired businesses through the program have further solidified its reputation and appeal.

Moving forward, Small Biz Acquisitions aims to expand its reach and impact by continuing to provide high-quality, personalized guidance to partners. Robert Nance is exploring the possibility of creating an interactive course in addition to the one-on-one partnership program. This course would allow more individuals to benefit from his expertise and learn the skills necessary to buy businesses successfully.

Additionally, Small Biz Acquisitions is considering venturing into government contract-type industries and exploring new opportunities for growth and expansion. By staying true to its core values and commitment to partner success, Small Biz Acquisitions is poised to become a leading force in the small business acquisition space.

Conclusion

Small Biz Acquisitions offers a unique partnership program that empowers individuals to buy their first small business in the US. Through personalized guidance, financial support, and equity ownership, partners gain the necessary tools and resources to succeed in the business acquisition process. The program's focus on industry experience, financial investment, and entrepreneurial mindset ensures that partners are well-equipped to navigate the challenges and opportunities of acquiring a business. With a promising future outlook and a commitment to partner success, Small Biz Acquisitions is revolutionizing the way individuals approach small business acquisitions and empowering them to achieve their entrepreneurial dreams.

To sign up, visit: Small Biz Acquisitions.

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