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5 Essential Team Members You Need Before Buying a Business!

5 Essential Team Members You Need Before Buying a Business!

June 20, 20242 min read

Thinking about buying a business?

Congrats!

You'll convert a failure rate of 90% to a success rate of 90%

But not so fast!

When I started my acquisition journey, I thought I was able to do it all alone

Not aware of the gigantic stream of work would fall onto my place.

Don't make the same mistake, like I did. Get yourself a Deal team.

A Deal team will help you maximize your success rate

"When I started my acquisition journey, I thought I was able to do it all alone."

Here are the 5 roles you'd need to succeed

My favorite roles when building your acquisition team are:

1/ Virtual Assistant (VA)

• Offloads your day-to-day workload

• Supports with company incorporations, bank setup

• Follows up with sellers

• Manages your schedule

2/ Venture Scout

• Starts initial conversations

• Conducts cold e-mail outreach

• Manages LinkedIn outreach

• Browses business marketplaces

• Connects with business owners

3/ Investment Analyst

• Sets valuations

• Determines min/max buying prices

• Analyzes financial statements

• Financial modelling to predict success

4/ Legal Advisors

• Highlights risks

• Checks corporate documents

• Supports with legal documentations

• Avoids you buy trash

5/ Industry Expert Advisors

• A second opinion

• Supports with strategy

• Gets you a quick first win with a golden intro

Then of course you have yourself who should be relationship expert able to create compelling deal stacks.

So here you have them once more:

1. Get a Virtual Assistant

2. Get a Venture Scout

3. Get an Investment Analyst

4. Get a Legal Advisor

5. Get an Industry Expert

6. And yourself

This should help you to stay sane!

No more jumping from one task to another due to overwhelm.

Best part? It's scalable.

Only when you are ready, we are there to support you.

blog author image

Sven Milder

I'm in love with developing ideas into thriving ventures. As the founder of SevenX Group, I work daily to simplify founders lives by hosting a FAME Community & steering DeeDee.ai an Ai driven matching making platform for founders and investors. I have supported over 300+ Founders with over $240M+ in Funding and acquisitions and I'm thrilled to help you succeed.

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