How to Buy A Business With No Money in 2024 | Carl Allen

Unlock the secrets of successful business acquisitions with Carl Allen, an experienced entrepreneur with over 400 acquisitions, as he shares unique insights, creative deal-making strategies, and the art of combining businesses for higher returns in this episode of the Wealthy Way podcast!---Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcast---Connect with Carl! YouTube -  @carlallenofficial  Website - https://dealmakerwealthsociety.com/Instagram - https://www.instagram.com/carlallenofficial/In this podcast, Carl Allen, a seasoned entrepreneur with over 400 business acquisitions, shares insights into the art of buying and selling businesses. Transitioning from a Wall Street background, Carl now coaches individuals seeking to exit the traditional employment structure and become entrepreneurs.Carl specializes in creative deal-making, outlining four ways to acquire a company, involving aspects like supply chains, equity, and marketing. He emphasizes the strategic value of combining businesses, akin to successful instances like Facebook's acquisition of Instagram.Advocating for buying businesses over starting them, Carl highlights the lower risk, ease, speed, and higher returns associated with acquisitions. He suggests choosing businesses aligned with personal passion and values, bringing value to the acquired venture. For those lacking expertise, he recommends partnering with someone who complements the business skill set.While selling a business can be challenging for owners, especially with the transition of control while continuing to work there, cultural alignment is deemed crucial for success. Carl conducts cultural assessments before acquiring businesses, avoiding ventures conflicting with his Christian values, such as those in industries like cannabis and gambling.Upon successfully acquiring a business, Carl indulges in a unique celebration – purchasing and assembling a $1,000 Lego set for relaxation and enjoyment. He incentivizes operators with a stake of 5-20%, adjusting the percentage to enhance motivation. Carl's criteria for acquisitions include a focus on cash-flowing businesses, emphasizing the importance of entrepreneurs functioning as true visionaries rather than mere employees.Despite his extensive business portfolio, Carl expresses a deep attachment to his coaching business, structuring it to function seamlessly without his direct involvement. While he assists students by acquiring relevant businesses, Carl remains committed to the coaching venture, having no immediate plans to sell it.