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Part 6 in a series of videos on what what Brian looks for in companies.

Transcription

Qualities business investors look for Part Six.

Hi I’m Brian Pombo welcome back to Brian J. Pombo Live.

This is part six of a seven-part series, all on the qualities that business investors look for, when they’re looking for partners when they’re looking for people to team up with when they’re looking for businesses to purchase, these are all things that apply.

And we’ve gone through the top five, so far, these are in no particular order, by the way, and we’re going to go through number six, number six is an interesting one. Because it’s one that can be really cliche. And I don’t want to fall into that I want to see if I can describe this very clearly to you as to what the number six is and it’s even more important, what it isn’t.

Everyone once in a while you see a business that has a whole lot of things going for it.

But they get stuck in this one area, which is well, let me tell you the positive end of it.

What I look for when I’m looking for a business to partner up with is I’m looking for unlimited growth potential. That’s number six, unlimited growth potential.

This is very simple.

If you have a business that’s limited in its ability to grow, okay, and there’s gonna be a number of reasons why it could be way oversaturated in the number of things that are competing for the same spot. That’s not a problem I run into too often. Because if a business has been somewhat successful, hopefully, it’s overcome that.

But if you’ve kind of reached the end game where there’s already somebody, that’s the low price later, there’s already somebody that’s getting the very high end of it, and it’d be difficult to be able to beat them out of that spot.

If there’s no real clear path for victory, then that is limited growth potential. There’s a cap somewhere, there’s something stopping us and it happens, and most of the time it’s self-imposed.

Most of the time, it’s a lack of vision on the people that are running the business, whoever’s in charge, whoever’s the vision person lacks the ability to see the path past these obstacles.

That can be a number of obstacles that run in the way most of the time, it is a lack of vision in product and service development, inability to be able to see what else that same market that you’re already playing to what else they need, and what else you can connect them with.

Because they’re people, they need something else, it doesn’t even have to be in the same grouping in terms of my niche, excuse me a niche, I guess you would say, or industry, it doesn’t have to be in the same area, it can be in something completely different.

But it has to play to the same market, the same person, the same ideal person for you currently purchasing your products and services, now, there’s something else they need, and you’ve got to sell it to them, you got to find a way to get it in their hands.

If you don’t have a pathway for that, that that limits your business, it limits the vision and it’s you might as well be starting from scratch. In many cases, if you’ve got those types of limitations on your business, if it doesn’t have completely unlimited growth potential, then that’s not a business I’m looking to venture with.

I need to see something I need to see be able to look at it and see the next 510 20 years in a business. If there’s a cap somewhere if there’s something holding it back.

Something’s not right. It’s usually with the visual person, the business owner, the CEO, whoever’s in charge, whoever’s making the decisions for where that where we’re steering the ship.

If they can’t make up their minds and figure out how to get past things. That’s not a good partner. That’s not someone I want to work with and that’s I know that sounds extremely negative. But this is just the reality of it.

There are so many options when you’re a business investor out there, there are so many options and people you can work with, you’re not going to waste your time on a business that has these issues.

So if you’re a business that has these issues, I’d suggest fixing them and fixing them quickly, because the more people that you can either partner with or have the potential of partnering with in the future, the more likely it is that you’ll be able to survive. any bad times that come any second round of COVID-19, or anything else that may pop up war, pestilence, or any of the other craziness that the world can throw at us, you got to be flexible when you’re in business.

This is a great example of that tomorrow, I’m going to go over the seventh thing that I look for when looking for a business to partner with. And this is a very, very, very important one.

Honestly, if it’s done right, you could be messed up on a lot of the other numbers and we can overcome it, if you’ve got this seventh one right.

That’s why I said these are in no particular order the seventh one. It’s pretty spectacular. It’s nothing I haven’t discussed before, but it’s something you may not quite have a grasp on, be sure and come back tomorrow for that.

In the meantime, go check out my book, 9 Ways to Amazon-Proof Your Business.

If you want nine specific strategies on how to make your business completely competitive proof. Whether you’re working with a business investor or not nine ways to Amazon prove your business. You get a free copy at AmazonProofBook.com.

We’re going to be back here tomorrow night. In the meantime, you have a great one. Get out there and just let the magic happen.