103 - How to Buy a $2.3m Business with $100k in Cash + Your 401k
Burk Adams was stuck as a traveling consultant.
He was successful but living out of a suitcase, spending far too many nights away from his wife and three adolescent boys.
Burnout and depression loomed.
Enter: acquisition entrepreneurship.
I'll let Burk tell his own story, but I will tee it up this way.
Buying a business was such a profound and positive move for Burk that he intends to teach his kids how to do it.
Another element to Burk's story I want to call out: ROBS.
You've probably heard of it. This is the program to tap your 401k to help finance the acquisition of a business.
We spend some time on it and it was what enabled Burk to take the swing that he did.
But I do want to emphasize: neither Burk nor I are ROBS experts.
There are lots of nuances, so do your homework.
ROBS is right for some, but definitely not right for others.
Okay, enjoy this uplifting interview with Burk Adams of PC Enclosures (especially you mid-career folks who are feeling stuck).
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