How to Buy a $2.3m Business with $100k in Cash + Your 401k

Burk Adams tapped his 401k to buy a business that reinvented his career, gave him back time, and catapulted his wealth. 

Topics in Burk's interview:

• Using your 401k to buy a business with ROBS
• Buying a business being the most impactful thing he's done in his life
• Realities of a C corp vs. LLC
• Teaching his kids acquisition entrepreneurship
• How it seems easier to have bought a business in 2015 than now
• The feeling of giant SBA loan repayments every month
• His business acquisition being a full send
• How he thought about the failure risk
• Why he liked PC Enclosures
• Acquisition price & numbers
• Buying a $2.6m business while only having $100k in cash
• Revenue numbers
• Handling the brutal first 6 months (and how it was healthy for the future)
• What's worse: depression or panic?
• Strong growth in the last few years
• How to think about one-off purchase vs. recurring revenue businesses
• How to think about buying a manufacturing business
• Small business ownership vs. being a consultant
• 2 new businesses that have come out of his acquisition

Links & how to reach Burk:

• PC Enclosures
• Storm Shell, Burk's outdoor TV enclosure business targeting consumers
• Backyard Snowstorm, the snowmaking business Burk started with his son
• Guidant Financial
• LinkedIn

Get complimentary due diligence on your acquisition's insurance & benefits program:

• Oberle Risk Strategies - Search Fund Team

Learn more about Walker Deibel's done-with-you buy-side advisory:

• The Acquisition Lab

Connect with Acquiring Minds:

• See past + future interviews on the YouTube channel
• Connect with host Will Smith on LinkedIn
• Follow Will on Twitter