Using Business Acquisitions to Build the Life You Want with Ace Chapman [The Opportunity Ep.128]

Success is not final. This is particularly true in business
where failure is all too common. 


It's an entrepreneur's mindset and their ability to
recognize failure as a necessary stepping stone to success that
helps them overcome the challenges they may face.


Ace Chapman experienced this first-hand. He bought his
first business for $70K and successfully grew it to where he was
receiving 7-figure purchase offers from interested buyers. Then
the business collapsed as a result of the dot-com
crash. 


He was ready to brand himself a failure when a mentor
reminded him that simply owning a business isn't the endgame.
Businesses are disposable assets that you can leverage to build
wealth and your ideal lifestyle. 


This revelation ignited Ace's passion for buying
businesses, and 20 years later he has been involved in more than
200 acquisitions. 


In this episode, Ace sheds light on his entrepreneurial
journey and explains why your business should always be for sale.
According to Ace, 


"There are two ways to approach a business. You can give
your life to the business or the business can give you
life. 


Instead of thinking of your business as your legacy, think
of it as a tool. Your business should always be for sale because
it's really just inventory. It's a means to an end that you can
use to create the life you want."


Ace goes on to explain how he pairs online and offline
business acquisitions to leverage the unique strengths of each
asset and how he tackles buying businesses in unfamiliar
industries. 


We also discuss why Ace chose to create his own fund, how
he uses that fund as a form of no-money-down financing, as well
as the pros and cons of no-money-down deals.


Finally, Ace hints at the hidden benefits of joint
ventures, a topic we'll dive deeper into when Ace returns in a
few weeks for a follow-up interview.


If you want to learn how to grow your wealth through
acquisitions, then don't miss out on a minute of this
episode!
Topics Discussed in This Episode:


Ace Chapman shares his zero-to-hero entrepreneurial
journey (02:07)


Why your business should always be for sale
(10:23)


Online business vs offline businesses and how to leverage
them against each other (12:43)


How Ace approaches growing businesses in industries he is
not familiar with (25:17)


The pros and cons of no-money-down deals (29:06)


How Ace uses funds as a form of no-money-down financing
(34:40)


Why joint ventures are a  big untapped opportunity
for entrepreneurs (44:25)

Mentions:


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Acechapman.com


Ace Formula by Ace Chapman



Sit back, grab a coffee, and learn the tricks of the trade
from an expert business buyer!