Feb 26 2025 71 mins 3
I have had a lot of guests on the show to talk about buying a small business. From lenders, buyers, and investors- everyone seems to be saying, "Go buy a business! You will make a ton of money and can't go wrong!"
Well, today's guest is a story of what happens when it does go wrong.
Jed Morris is an Air Force veteran who bought a landscaping business and then quickly bought another. He did a lot of things right:
- Worked inside business #1 for 6 months before making an offer
- Built a great relationship with the owner
- Made a good deal that made financial sense
But after a few months, the wheels started to come off and Jed ended up going bankrupt on the deal.
Despite this, he is still optimistic on buying small businesses.
His is a great story of resilience, grit, and how to think about risk.
