Ted Leverette – Buy Businesses That Have Fixable Problems

BIO: For more than 30 years, Ted Leverette, The Original Business Buyer Advocate, has been helping people worldwide find and buy the right businesses the right way. STORY: Ted bought a business for eight figures only to discover it was sinking in debt. LEARNING: Hire the right kind of advisors when buying a business. Do your due diligence and get to know how the business works before you buy it.   “No matter how naive you think a business owner is, his lawyer and accountant aren’t naive and will negotiate you into a bad deal.”Ted Leverette  Guest profileFor more than 30 years, https://www.linkedin.com/in/tedleverette/ (Ted Leverette), The Original Business Buyer Advocate, has been helping people worldwide find and buy the right businesses the right ways by training and assisting them through any or all of these phases: Preparation, targeting, search, due diligence, financing, valuing, negotiating, and transitioning into their acquisition or merger. Ted positions clients to be the 1st choice of brokers and sellers. And to complete more-profitable deals sooner with less aggravation at a lower cost. How? ACTIONABLE guidance. Read his how-to books (available on https://amzn.to/3Aug6Jx (Amazon)). And then let him help you deploy his proven best practices. Worst investment everTed bought a privately owned company for eight figures only to find out it was deep in debt. He lost a substantial amount of his investment in paying off this debt. The business had three operations: A consulting operation, 11 travel agencies, and a travel agent training school. The operator of this holding company knew the travel sector well. But he didn’t know about managing the holding company, which is what Ted was buying. He didn’t know anything about finance, so he delegated money matters to an inept accountant. When Ted asked this guy why he wanted to sell, he said it was because he had a different interest in another industry with bigger potential. Ted’s mistake was letting the seller’s lawyer do the purchase and sale a