$20m Net Worth After 25 Years Buying Businesses

Most of the interviews on Acquiring Minds are with entrepreneurs recently into their acquisitions, but occasionally we'll have guests who've been doing this for much longer and we get to see how a career as an acquisition entrepreneur unfolds over decades. Today is one such example. At 58 years old, Paul Lajoie today takes home a million dollars per year and tallies his net worth at almost $20…

And it all started about 25 years ago when he and his brother bought a flooring business doing $300,000 of SDE. We hear that story and how it set up Paul to continue buying businesses right up until today. Given his track record, it's no surprise that Paul has conviction about this path of buying businesses, including versus the alternative of starting them.

He's bought 12 over the years. Only one of those acquisitions has failed. Meanwhile, he started four businesses and three.

Of those have failed. That's a 92% success rate versus 25%. What a testament to to the power of ETA.

All that said, Paul does not oversell the dream. When he bought that first flooring business, he moved his family to a more affordable home and traded his Lexus for a beater sacrifice. Long hours, sleepless nights were all features in the early days of his journey.

You should expect the same, he says. Here he is Paul Lajoie, owner of Heritage Hardwood Floors, Maxwell Pipeline Services and BizBuyPro. Most buyers assume that the hardest part of buying a business is finding one.

More listings, more brokers, more introductions. But having access to endless opportunities still leaves many buyers stuck second guessing themselves or even passing on the right deal. Well, tomorrow Tuesday, Chelsea Wood of Acquisition Lab will host a webinar on why Mindset quietly shapes what you notice, what you dismiss, and what you talk yourself out of before you even realize it.

Topics to include why not enough deal flow is often a symptom rather than the real problem. How fear, overthinking and mental shortcuts cause buyers to misread good opportunities. What experienced buyers do differently to evaluate deals with confidence even when information is imperfect.

This will be a discussion based session grounded in real patterns that Chelsea has seen firsthand while supporting over a thousand acquisition entrepreneurs through their searches and to closing the webinar is tomorrow Tuesday, February 10th noon Eastern Register at the link right at the top of this episode's show Notes or on the Acquiring Minds homepage. Acquiring Minds co. Welcome to Acquiring…

My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs and on this podcast I talk to the people who do it? What do the following Acquiring Minds guests.

All have in common? Doug Johns, Morley Desai, Tim Erickson, Chirag Shah, Shane Ursam. They all went through the acquisition lap, the accelerator and community for people serious. About buying a business.

But they represent just a sliver of. The Lab success stories. The number of deals across the Lab's.