There’s a ton of hype out there about buying businesses. But most of it? It’s either way too simplified or completely disconnected from the reality mid-journey entrepreneurs face.
In this episode, I’m joined by Richard Parker, founder of Diomo Corporation, who’s been in the trenches helping people evaluate and buy good businesses at a great price. We unpack how to avoid the spaghetti traps (you’ll get that reference once you listen), what’s actually involved in finding and buying a great business, and how Richard’s “44411” approach cuts through all the noise.
If you’ve ever thought about buying a business—or if you’re mid-search and frustrated—this one will help you recalibrate fast.
Key Takeaways with Timestamps:
- [13:02] Why Most Buyers Never Close a Deal – The hidden friction that kills 90% of acquisition dreams—and how to sidestep it.
- [21:23] Why Experience ≠ Expertise – Just because you know the industry doesn’t mean you know how to run a business in it.
- [25:04] The “44411” Method – Four months. Four categories. Four offers. One acquisition. A practical search strategy you can actually follow.
- [29:42] The 5 Rules of Buying a Solid Business – Richard’s time-tested checklist for filtering out deals before due diligence.
- [31:21] The Real Red Flags – It’s not what you think. And it’s not always in the numbers.
Richard Parker is the founder of Diomo Corporation and a leading authority on buying small businesses. With over 30 years of experience and 13 personal acquisitions under his belt, he’s helped more than 100,000 entrepreneurs in 80+ countries through his acclaimed program, How to Buy a Good Business at a Great Price.
Featured in outlets like Forbes and The New York Times, Richard is known for his practical, no-nonsense approach to valuation, negotiation, and due diligence—guiding buyers to make smart, confident decisions.
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