How to Become a Millionaire Faster Than You Think, with Ben Kelly | EP 76

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Ben Kelly is the President of Acquisition Ace, a leading firm specializing in business acquisitions and growth strategies. With a keen eye for identifying high-potential opportunities, Ben has successfully guided countless entrepreneurs and businesses through the complexities of acquisitions and scaling. His expertise lies in deal structuring, negotiation, and post-acquisition integration, making him a trusted authority in the field. Known for his strategic approach and dedication to client success, Ben has built a reputation as a dynamic leader passionate about helping businesses thrive in competitive markets.

In this conversation, Ben Kelly shares his journey from a military intelligence officer to a successful entrepreneur who has acquired multiple businesses with minimal investment. He discusses his strategies for finding and acquiring businesses, the importance of networking, and the criteria he uses to evaluate potential acquisitions. Ben emphasizes the significance of time management, recession-resistant industries, and the impact of AI on business valuation. He also provides insights into the valuation process, particularly focusing on Seller Discretionary Earnings (SDE) and the advantages of SBA loans for business acquisitions. In this conversation, Ben Kelly shares insights on business acquisition, focusing on the importance of understanding collateral, overcoming mental barriers, and the necessity of due diligence. He discusses common mistakes made by new acquirers, the potential use of 401k funds for acquisitions, and the tax benefits associated with structuring deals effectively. Additionally, he emphasizes the value of maximizing time as a business owner and approaches to finding off-market deals. The conversation concludes with an overview of the community he has built to support aspiring business acquirers.

Chapters

[00:00] The New American Dream: Ben Kelly's Journey

[10:08] Acquisition Strategies

[20:42] Valuation Insights

[32:41] Key Mistakes in Business Acquisition

[37:49] Using 401k for Business Acquisition

[39:37] Tax Benefits of Business Acquisition

[44:54] Approaching Off-Market Deals