Acquiring Minds $20m Net Worth After 25 Years Buying Businesses
40 snips
Feb 9, 2026 Paul LaJoy, a serial acquirer and CPA who built multiple home‑services businesses over 25+ years, walks through buying, scaling, and surviving downturns. He recounts first deals, partnership lessons, a cash‑crunch recovery, pivots after 2008, why he favors real estate in deals, and launching BizBuyPro to mentor other buyers.
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Invest In A Detailed Partnership Agreement
- Spend real money on a comprehensive partnership agreement that covers all scenarios and buyouts.
- If your agreement is under ~40 pages, assume you didn't plan for enough contingencies.
Never Underestimate Working Capital
- Always ask for sufficient working capital and project cash flow 12–18 months ahead to avoid payroll crises.
- Treat working capital as a critical diligence item, not an afterthought.
Value Businesses For Present Performance
- Buy businesses valued on today's performance, not on hoped-for growth you plan to unlock.
- Overpaying because you think you are smarter than the seller is a fast route to trouble.
