The No-BS Guide to Selling Your Business Like a Pro | Chad Peterson DSH #1280

Summary

Digital Social Hour: The No-BS Guide to Selling Your Business Like a Pro with Chad Peterson (DSH #1280)
Release Date: March 30, 2025

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Introduction

In episode #1280 of Digital Social Hour, host Sean Kelly welcomes Chad Peterson, a seasoned entrepreneur with over 25 years of experience in buying and selling businesses. Filmed live in Las Vegas, the conversation delves deep into wealth-building strategies, the importance of liquidity events, and the pitfalls of traditional investment avenues like real estate. This comprehensive discussion is packed with actionable insights, real-world experiences, and Chad's no-nonsense approach to creating and sustaining wealth through strategic business transactions.

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Chad Peterson’s Journey and Background

Chad Peterson begins by recounting his early foray into entrepreneurship, starting as a teenager mowing lawns. By the age of 19, he had successfully sold his lawn mowing business for $400,000—a decision that set the foundation for his future endeavors.

Chad Peterson [00:26]: "Yeah, I've been buying and selling businesses for 25 years."

Chad's initial success taught him a crucial lesson: the value of a business isn't solely based on personal attachment or satisfaction but on its market value and potential for others to generate income from it.

Chad Peterson [00:49]: "A lot of business owners just don't know that what they have, even though they don't like it, it's worth a lot of money."

Despite a detour into flight school, which was cut short by the events of 9/11, Chad remained committed to his business principles, ultimately amassing significant wealth and dedicating himself to teaching others the art of buying and selling businesses.

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Wealth Building Through Liquidity Events

A central theme in Chad's philosophy is the concept of liquidity leading to wealth, contrasting sharply with the paycheck-to-poverty cycle that many business owners unknowingly perpetuate.

Chad Peterson [01:56]: "Liquidity leads to wealth and paychecks lead to poverty."

Chad emphasizes the importance of creating liquidity events—selling a business to free up capital—which can then be leveraged to acquire larger, more profitable enterprises. This strategy mirrors the pathways taken by many billionaires who have multiple liquidity events underpinning their wealth accumulation.

Chad Peterson [02:43]: "They use that liquidity to leverage into wealth."

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Selling and Buying Businesses Effectively

Chad introduces the Small Business Administration (SBA) loan program as a powerful tool for acquiring businesses. He advocates for using SBA loans to buy substantial businesses, arguing that even with high-interest rates, the cash flow generated can more than compensate for the debt service.

Chad Peterson [03:02]: "Sell your business and create liquidity. Because liquidity leads to wealth."

Chad shares his high success rate in selling businesses—90% compared to the industry average of 11%. He attributes this to his hands-on experience and strategic approach, which starkly contrasts with traditional business brokers focused merely on their paychecks.

Chad Peterson [17:09]: "Well, we sell 90% of what we bring on."

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Critique of Real Estate and Alternative Investment Methods

Throughout the podcast, Chad is critical of real estate as a wealth-building vehicle. He argues that real estate investments often require significant time, effort, and luck, offering minimal returns compared to owning and selling businesses.

Chad Peterson [08:22]: "Owning a business is a path to wealth and that's what I teach people how to do."

Chad dismisses the notion promoted by many gurus that real estate, especially strategies like buying laundromats, is a surefire way to wealth. He points out the challenges of managing properties and the slow, uncertain returns they typically offer.

Chad Peterson [08:47]: "Real estate's a long term play."

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The Importance of Cash Flow Over EBITDA

Chad underscores that businesses are sold based on cash flow rather than EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). He explains how understanding and optimizing cash flow is essential for maximizing a business's sale value.

Chad Peterson [30:47]: "I teach people how to take a quantum leap into wealth."

Using examples, Chad illustrates how add-backs (expenses that can be removed to show true cash flow) can significantly impact the valuation of a business.

Chad Peterson [31:11]: "Businesses are sold off of cash flow. So let me give you an example..."

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Mentorship, Success Rates, and Avoiding Common Pitfalls

Chad highlights the critical role of mentorship in successfully buying and selling businesses. His organization boasts a 90% success rate in selling businesses, a testament to his effective strategies and comprehensive support systems.

Chad Peterson [23:26]: "We've never had a failure."

Chad also warns against falling for online gurus who promise quick riches through simplistic methods. He differentiates his approach by focusing on actionable steps and avoiding common mistakes that can lead to business failures.

Chad Peterson [25:13]: "You don't have to be incredibly smart. You have to be able to go in, show up every day, execute, repeat, wash, repeat, wash, repeat."

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Retirement Philosophy and Work Ethic

Chad shares a provocative view on retirement, labeling it a "disease" that leads to a loss of purpose. He advocates for continuous engagement in meaningful work rather than stepping away to pursue leisure activities, which he believes can lead to dissatisfaction.

Chad Peterson [20:57]: "You think I'll never retire, man, because it's... I call it retirement. It is a disease..."

This perspective aligns with his broader philosophy that purposeful, passionate work is essential for a fulfilling and successful life.

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Upcoming Events and Further Engagement

Chad and Sean discuss upcoming events aimed at educating business owners on wealth-building through liquidity events. Chad mentions an event on May 2nd alongside Bradley and hints at a larger collaboration potentially tied to major events like F1 Vegas.

Chad Peterson [35:13]: "Bradley and I are going to be doing an event."

These events are designed to provide attendees with tactical information and strategies to transform their financial standing by buying and selling businesses effectively.

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Conclusion

In this enlightening episode, Chad Peterson provides listeners with a robust framework for building wealth through strategic business transactions. By emphasizing the importance of liquidity events, leveraging SBA loans, and maintaining a disciplined work ethic, Chad offers a clear alternative to conventional investment methods. His high success rates and hands-on mentorship further solidify his credibility as a leading authority in the business acquisition space. For entrepreneurs seeking to transcend the paycheck mentality and achieve substantial financial growth, Chad's insights present a compelling blueprint.

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Notable Quotes:

• Chad Peterson [01:56]: "Liquidity leads to wealth and paychecks lead to poverty."
• Chad Peterson [17:09]: "Well, we sell 90% of what we bring on."
• Chad Peterson [20:57]: "I call it retirement. It is a disease..."
• Chad Peterson [25:13]: "You don't have to be incredibly smart. You have to be able to go in, show up every day, execute, repeat, wash, repeat, wash, repeat."

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Resources and Links:

• Chad Peterson’s Website: ChadPeterson.com
• Peterson Acquisitions: PetersonAcquisitions.com
• Upcoming Events: Visit Real Biz Acquisitions for tickets and information.

Stay tuned to Digital Social Hour for more unfiltered conversations with industry leaders and trailblazers.

Transcript

[Chad Peterson]

Like you're not going to work. And I would say don't buy a business because, you know, you're disillusioned, but you have to work your business. Like you're here working, you're, you're working. Yeah, Right. So why would you want to own a business if you have nothing to do with it? And it's so it's that again. Another soundbite. Hey, run an absentee owned business, okay? If you, if you can be absentee, then why is the seller selling it?

[Sean]

All right, guys, Chad Peterson in studio Today in Vegas, we're going to talk wealth building today. Who doesn't love talking wealth, man? Thanks for coming on.

[Chad Peterson]

Yeah, thanks for having me.

[Sean]

Absolutely. You've been in, in this space for a while now, right? How many years?

[Chad Peterson]

Yeah, I've been buying and selling businesses for 25 years.

[Sean]

Wow. What was the first one you bought, man?

[Chad Peterson]

Believe it or not, I was a teenager pushing them a lawnmower, just mowing grass. But it turned into $400,000 for me.

[Sean]

So what?

[Chad Peterson]

Can't complain. A lot of business owners just don't know that what they have, even though they don't like it, it's worth a lot of money. So just because you don't like it and you're tired of it doesn't mean somebody else wouldn't want to buy it from you.

[Sean]

Yeah. So someone actually bought a lawn mowing business?

[Chad Peterson]

Yeah, I was making about 50 grand a year. And there was another guy who owned a larger company than, than mine. He said, chad, why don't I buy this from you? And I was like, buy what, man? I don't even want this thing. He's like, well, you've got all the accounts. I don't have to go win the accounts. He bought it from me. I was 19 years old.

[Sean]

Holy crap. You got a taste of it at an early age.

[Chad Peterson]

Yeah, that's where it all started for me.

[Sean]

Were you in college at the time?

[Chad Peterson]

No, I was getting ready to, I was getting ready to go to flight school, want to be a pilot. And listen, if I would have been smart, I would have sold that company and leveraged that money into a larger business.

[Sean]

Yeah.

[Chad Peterson]

You know, but instead I went to flight school. 9, 11 happened. Lost my career is what it is. But I took that lesson forward and I just kept doing it and kept doing it. That's how I made my money. Now I teach other people how to do it. Nice.

[Sean]

So that set you back when you went to flight school for a few years?

[Chad Peterson]

Yes, absolutely. I would have been worth $10 million by the time I was 25. I used my principles.

[Sean]

Damn. Let's talk about some of these principles. Yeah, what are some? How many you got?

[Chad Peterson]

Well, a lot of them. I mean, liquidity leads to wealth and paychecks lead to poverty. So if you have a business and you're just making paychecks and you're getting tired of your business, which is normal, most people get sick of what they're doing. Then sell your business and create liquidity. Because, look, man, everybody who ever made it big had liquidity in their past. Whether they. Like I asked you whenever I got in here, like, hey, who you podcasting with today? You're like, well, I got a billionaire that came in and I said, how did you become a billionaire? You said, he sold several nine figure businesses. There you go. Liquidity leads to wealth. Nobody ever got rich off of paychecks.

[Sean]

Yeah. If you look at the billionaire list, you can't find a single one.

[Chad Peterson]

Probably every one of those billionaires had multiple liquidity events, and they use that liquidity to leverage into wealth. And that's what I teach.

[Sean]

Yeah, because there's also that second battle, because some people can get liquidity, but they can't invest it.

[Chad Peterson]

Absolutely. They don't know what to do with it after they have the liquidity. So I teach people how to run your business in a certain way. Sell that business to create the liquidity event and then leverage that liquidity into the nlb, the next larger business.

[Sean]

So you want them to invest in another business basically after they sell theirs.

[Chad Peterson]

Absolutely. And if they do it in the same year, and if they do it the right way, they're going to reduce their capital gains tax, which is huge, enormous. And by the way, Trump right now is trying to reduce the capital gains tax. And I think he'll do it because he's doing great things. Yeah, but you know, 22% capital gains. In fact, Kamala Harris was going to try to get it up to 46%. That would have killed the economy, man.

[Sean]

Oh, my gosh.

[Chad Peterson]

And she was going to tax 25% on unrealized gains on investments. It would have been terrible for our economy. Yeah, but Trump's in there. He's doing great things. I'm proud of the man. And he's going to get Those taxes from 22% to 15% on capital gains. So there's never been a better time to sell your business.

[Sean]

Are you confident Trump can bring the economy back right now? Because there's a lot of fear with the Stock prices and crypto prices right now.

[Chad Peterson]

Just give the man some time. He'll turn it around. Absolutely. I'm totally confident about it. I mean, he's. He's completely competent. He understands negotiation. He understands how money works. He understands how to, you know, he's playing. He's playing chess and everybody else is playing checkers.

[Sean]

Yeah.

[Chad Peterson]

You know, and. And every, you know, liberal out there is, is saying, oh, he's selling us out to Russia. He's making deals, he's ending wars. You know, and the Trump derangement syndrome has never been stronger.

[Sean]

Tds.

[Chad Peterson]

But. But if he'll just. If you just give the man some time, he'll get it done. And what's wrong with supporting the president regardless of who he is? I had to support the last president we had who had dementia. I had to support him for four years. So let's just support the man and let's see what he can do. And I'm sure he can do it.

[Sean]

Yeah. Yeah. I never let politics get in the way of business for me.

[Chad Peterson]

Well, yeah, absolutely. I mean, you know, money is green. You know, it doesn't matter whether you're blue or red. Right. But I'll tell you this. I was doing really, really well before Biden. Now, let me ask you this. If you sell, let's just say I saw a $10 million company and the rates are around 6%. Six and a quarter.

[Sean]

Yeah. Hey, guys.

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[Chad Peterson]

During the Joe Biden administration for $10 million, and the interest rates are now 12%. That essentially makes the cost of the business double. That's what I've been in for the last four years.

[Sean]

Geez.

[Chad Peterson]

Absolutely. It's been tough. And we, we've done well. Don't be wrong. But it, it's been tough.

[Sean]

No, that's a lot of your margin, right?

[Chad Peterson]

Oh, well, it makes, it makes buying a business pretty much impossible at 12%. You know, you borrow. Just run the math on 10 million, 12% interest, it's get. You're getting crushed by debt service.

[Sean]

That's why a lot of real estate got paused under Biden too.

[Chad Peterson]

Oh, yeah, yeah. We're about to see a big crash on the real estate market. Oh, yeah, absolutely. 2030 is about to hit. Damn.

[Sean]

They've been saying that for years, though, so you never know.

[Chad Peterson]

Oh, I know it. It's coming. We're about to have the biggest real estate correction we've ever seen.

[Sean]

I mean, you're on the inside, so you would know. You're talking to these banks, you're talking to lenders.

[Chad Peterson]

Yeah, it's gonna happen.

[Sean]

What do you think's causing that?

[Chad Peterson]

I don't know exactly what's causing it, man. But I'll tell you what, it's interest rates or they do go down. We're gonna have so much inventory because right now everybody's holding on to their house because they have good interest rates on their mortgages. They're not going to sell. Right now if you have a 4% mortgage or a 3% mortgage, why would you sell your house and go get a 7% mortgage? It doesn't make sense. So as soon as the rates go down, inventory is going to go up and so prices are going to go down. Supply and demand function will be off balance. Yeah. So lot of people that are holding on right now, you know, going to sell whenever the rates get better, man, you're going to have competition.

[Sean]

And then you got these huge funds stacking up on real estate, right?

[Chad Peterson]

Yeah, absolutely.

[Sean]

Got BlackRock and a bunch of other VCs or whatever.

[Chad Peterson]

Yeah, that's the, that's the, that's the new way.

[Sean]

Yeah. Yeah.

[Chad Peterson]

But what I tell people to stay out of real estate. I don't promote real estate. I, I think having a bunch of doors, having 200 doors, 300 doors, you know, all the Grant Cardone of the world and a the Kris Krones of the world trying to say, oh, go buy doors. Listen, man, houses are headaches, okay? The roof, you know, the water leaks, the maintenance, you know, the storms that hit the house. Listen, it's a bunch of headaches. People try to say that owning real estate is the path to wealth. Bullshit is what I say. Owning a business is a path to wealth and that's what I teach people how to do.

[Sean]

Yeah.

[Chad Peterson]

Because, you know, I talk to real estate investors, I'm like, oh, what are you making on that house? Well, I'm making $200 a month on it right now. But you know, over the next 20 years, that's where things get interesting. You know, the debt will be paid down and then I can. It's like, my God, why would you mess with something for such little income?

[Sean]

It just seems like it takes so long to get a return.

[Chad Peterson]

It's a long term play. Totally. Real estate's a long term play.

[Sean]

Yeah. Plus you got to get a little lucky with the market.

[Chad Peterson]

Absolutely.

[Sean]

Depending on what city you're in. Yeah. Like some guys are like strategic with it. And that to me makes sense if they're identifying markets that are on the come up. But otherwise you're just gambling, you know.

[Chad Peterson]

Yeah. You don't own your house anyway. The bank owns it. We're glorified renters and you spend all the money on the house to upkeep it anyway. And you know, you're paying interest on it, it's not paying you money. So I don't make money with my real estate. I live in it, I spend money on it. I'm damn sure not going to go get 50 houses, be a, be a landlord and deal with 200 headaches a month, just not doing it.

[Sean]

That's a lot of money tied up too.

[Chad Peterson]

That's a lot of money. And it's a slow, long grind. But if you own a business, you can earn cash flow immediately. And I'm talking major cash flow.

[Sean]

Yeah.

[Chad Peterson]

So you could put 5% down on a business. Let's just say you're gonna buy a million dollar business. You could put $50,000 down and own the entire business. You can put 5% down and own 100% of the business. And that, that million dollar business, we're paying you $333,000 a year.

[Sean]

Wow.

[Chad Peterson]

So where can you put $50,000 down and earn $333,000 a year? Nowhere.

[Sean]

Not in Real estate.

[Chad Peterson]

Nowhere. Nowhere. The Small Business Administration is. What's up, guys?

[Sean]

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[Chad Peterson]

Vanilla cream.

[Sean]

Let's see what we got here. Not solid. Hello, Vanilla. It's my favorite ice cream flavor. Definitely. Check them out, guys. RX Sugar.

[Chad Peterson]

The greatest wealth building vehicle. And it's been around since. For. Since Eisenhower's been off. Say, to say that again. It's been around since Eisenhower's been in office. That's 80 years, man. Well, and nobody. Nobody knows. Nobody knows about the SBA program.

[Sean]

Yeah.

[Chad Peterson]

You know how to get. Did you know that you can get $5 million in your pocket?

[Sean]

That's SBA loan, Right?

[Chad Peterson]

Everybody can get $5 million in your pocket. Listen, if you have a 680 credit score, no bankruptcy, or no felony criminal history, you can get $5 million from the SBA.

[Sean]

So I was actually looking into it right now, actually. Because you need two years of tax returns, right?

[Chad Peterson]

Yeah.

[Sean]

On the business. Yeah. So this is our second year for the pod. So I was looking into SBA loans.

[Chad Peterson]

What, to. To grow your business.

[Sean]

Yeah. Hire more editors, hire more staff.

[Chad Peterson]

Oh, you don't need an SBA loan to. To do what you want to do, really. No, you don't. Don't waste your time on getting an SBA loan for small dollars. If you're going to use your SBA loan, then try to borrow $5 million for something bigger. Yeah, I'll show you how to after the podcast. I'll show you how to get money for that. You don't even go to SBA to do that.

[Sean]

That's good to know. I just finished. You know Cody Sanchez?

[Chad Peterson]

I do.

[Sean]

I just finished her book. And it sounds like it's kind of similar to what you teach.

[Chad Peterson]

It is not similar to what I teach.

[Sean]

Really? Buying businesses.

[Chad Peterson]

No. Cody Sanchez is an actress. Really? Yeah. She's. She's not doing deals. She's not a transactionalist.

[Sean]

Isn't she buying, like, retail Laundromats and stores and stuff?

[Chad Peterson]

Bro, why would you leave Wall street like she says? And why would you go buy a laundromat? Chasing quarters for a living. It's a sound bite. It sounds good. The people that you know, the Walmartians of the world. Listen to her. It's not real. I'm an actual transactionist. I've been doing this for 25 years. I own a brokerage nationwide. We have 20 locations. I speak, I teach. I actually do. The transactions were pros at doing the transactions. I don't know, man. Cody Sanchez is an actress. She's. She's doing something to pull in hopeful buyers for. I can't. I don't think. I don't have it figured out, but.

[Sean]

Interesting.

[Chad Peterson]

Yeah. No, she's. She's not a transaction. She's not helping people get into businesses. She's not helping people sell businesses. If she is, she's a. She's a marketing mouth for another company.

[Sean]

Wow. Okay.

[Chad Peterson]

Yeah, absolutely.

[Sean]

What about Hormozi? What do you think about him?

[Chad Peterson]

I think solid dude. Solid dude. I like Hormozi. You know, him and his wife are helping people scale their business and.

[Sean]

Yeah.

[Chad Peterson]

You know, they're teaching people about m. A. And I. I have nothing but good things to say about Hormozi. He doesn't do exactly what I do, though.

[Sean]

Yeah.

[Chad Peterson]

I mean, I'm the only one in the. In the world that does what I do. I literally show people how to take a quantum leap into wealth. I show them how to get their time back and. And how to experience freedom as an entrepreneur versus being owned by their business. Yeah.

[Sean]

Which a lot of people are.

[Chad Peterson]

Oh, yeah. People say, why own a business? And I'm like, are you sure it doesn't own you?

[Sean]

Yeah.

[Chad Peterson]

And that's a question that's haunting to business owners because they can't sleep. They're up at night having fights with the wife. You know, they're stressed out. And I show people how to get out of that, and I show them how to 10x their income by getting out of that cycle.

[Sean]

Yeah. That's been a big thing for me. It's like, yo, can you take a week off your business and it still has the same revenue?

[Chad Peterson]

That's exactly what I say, actually.

[Sean]

Yeah. Yeah. Because if you can't go on vacation and enjoy yourself, why are you even running the business?

[Chad Peterson]

Yeah. And usually whenever you're in a business, let's just say you're running a business and you can't leave for a week or two without it falling apart. It's because you don't have processes and systems in place.

[Sean]

Yeah.

[Chad Peterson]

To where you can leave. But what I tell people is, look, that company is paying you money, so go ahead and sell it. Create a liquidity event. Because liquidity leads to wealth. Okay. So you have to sell to create the liquidity. Then your nlb, the next larger business that you buy. That's where you start doing things differently. Because here's the deal. If you just. If you just sold your company and you only sold it for 500 grand, which isn't a lot of money. But 500 grand would buy you a $5 million business paying you $1.7 million a year. So you're going from making 200 grand a year, so making $1.7 million a year this year. Right. And that's what I teach.

[Sean]

I love that you said 500 grand isn't a lot. Do you think a million dollars is a lot of money?

[Chad Peterson]

I mean, it's all relative, but I'm just saying that $500,000 a year is not a lot of money. I mean, you know, I guess a subject to interpretation. I guess there are some people that would say that's a lot of money. I don't think it is. Yeah, but, you know, I mean, I want to be making, you know, five to $10 million a year. That's what I want to be making. But 500 grand. I'm just saying, if you had 500 grand, you can walk right into an SBA loan to buy a $5 million business, and you're giving yourself an enormous pay raise. You're. You're going from 200 grand a year in earnings, sell that company for 500 grand, walk right into the NLB, the next larger business, because liquidity leads to wealth. And now you're making $1.7 million a year. You cannot find that kind of return anywhere. And I get Everybody through the SBA process. I help them find 5 million bucks. Okay, that's valuable. Yeah. So everybody, again with the 680 credit score. No bankruptcy, no felony can qualify for $5 million to buy a business.

[Sean]

Crazy. And the interest on that is lower?

[Chad Peterson]

No, right now the interest rates are high, but they're going to come down. Yeah, they're about 11% right now. Oh, wow.

[Sean]

I didn't know that.

[Chad Peterson]

Yeah. But here's the deal. Here's what most people don't understand. That the debt service that you pay whenever you pay down that note, let's just say you borrowed $5 million over 10 years. If you borrowed 5 million, you're going to pay it over 10 years. In five years, the company itself has paid the debt service. So people say, man, that's a lot of money to pay to the bank. Well, no, not really, because after five years, the company itself has paid down half of that $5 million. If you sell it, you get all that back. So you walked into this situation with only 500 grand. Okay. You got a $5 million business that was paying you $1.7 million a year, but after five years, you've made the income over five years, and you paid off essentially half of the debt. So now you. Now you sell the company and you walk with that $2.5 million in your pocket. Now what can you buy? Well, you can probably buy a $20 million business paying you about $7 million a year. This is what I teach people how to do. And we have a team. We. You. You come to me, we put you in a program, and we walk you through the entire process.

[Sean]

I love it. What percentage of your business purchases have worked out? If you had to estimate business purchases? Yeah, when you.

[Chad Peterson]

Well, we sell 90 of what we bring on. So if a business owner comes to me, they say they want to sell their business, it stands to be a 90 chance that I sell their business.

[Sean]

Wow, that's really high. Yeah, because it's not easy to sell a company.

[Chad Peterson]

Right. So 11 is the average that sells on the market. So business brokers, man, I have no respect for business brokers at all. Okay. They are paycheck professionals. All they care about is their paycheck. Yeah. They might be able to get your business sold, but more than likely not. 11% is the average.

[Sean]

That's super low.

[Chad Peterson]

Yeah. And my average is 90%. So if you bring your business to me and we go to sell, it only stands a 10% chance that it won't get sold.

[Sean]

That's awesome. I plan on selling this thing one day, so I'm going to hit you up.

[Chad Peterson]

Oh, absolutely. Yeah. There's nobody better at it than me now. I don't do it anymore. My team does it, but. Yeah, but, you know, I might do it for you, but, you know, but as far as the first question you asked me, you know, how. How well do the transactions go? You mean the businesses? Yeah, we've never had a failure. Really? Never.

[Sean]

So every business you bought has worked out?

[Chad Peterson]

Every business that I've sold, no business has ever gone under.

[Sean]

Holy crap.

[Chad Peterson]

Yeah. So here's what people don't understand. You know, people are so confused about the. The businesses that. That sell and that get bought are. Are like a 90 plus percent failure. Because we've all heard that number, right? Like 90. 90% of businesses fail. No, that's not real. If that was the case, then why would the SBA be giving $5 million out to every American if 90% of them failed? Only one out of 72 businesses fail and fail.

[Sean]

What is failing? Is that bankruptcy or is that like.

[Chad Peterson]

Yeah, going under.

[Sean]

Going under.

[Chad Peterson]

1 out of 72.

[Sean]

That's not that high.

[Chad Peterson]

No. Now startups, Startups fail all the time because people get ideas like, oh, I'm an idea guy. Like, I don't know what the hell's going on with business owners, but they think they're inventors. I got this idea. Like, I don't want ideas, man. Yeah, keep your ideas to yourself. I got enough ideas. I need you to come in, run this business. Execute every day, do the same damn thing every day. The thing that works. And that's, by the way, that's what you've done, isn't it? Yeah, that's, that's how you're here.

[Sean]

I executed?

[Chad Peterson]

Yeah, you executed the same thing every single day. It might be monotonous, it might be boring, you know, but you're, you're, you found what works and you keep doing it day in, day out like you don't need an idea. Right? You got your idea figured out? Yeah, well, same thing with business owners. Go in, run your business as it's meant to be ran and don't bring new ideas to it. Don't try to grow your business, just run it. And as you run it, your debt service is getting paid down. See, so after five years, half the debt you borrowed is paid off. No, that's liquidity. And liquidity leads to. Well, so sell your business, take that liquidity, move on to the nlb. Yeah.

[Sean]

I was never a fan of investing pre revenue. Seemed too risky for me.

[Chad Peterson]

It's very risky.

[Sean]

Yeah. Most of them don't work out.

[Chad Peterson]

Yeah, Right.

[Sean]

You saw that VC bubble get crushed a few years ago.

[Chad Peterson]

Yeah. One out of 72 loans go bad that are, that have historic earnings. Right? So you show me a business that's been open for 10 years and they have steady growth, they have systems in place, a product or a service that the market wants. That business is not going under. Yeah, now, now it could go under if somebody goes in, buys it and gets, you know, gets cute and clever and says, well, that guy doesn't know how to run the business. I'm going to run it better, right? No, man, you don't know what you're doing. You just bought it. So run it the way that the owner was running it. You know, that's what I teach people. And so when we bring on a seller, when we bring on a buyer, we coach them on what not to do. And that's the problem. All these gurus out there are telling people what to do. But what about what not to do? Right? Like, what if you could stop somebody from making a massive Mistake. They can just send them right into bankruptcy. Right. So I tell people what not to do more than I tell them what to do.

[Sean]

But you ever going to retire?

[Chad Peterson]

You think I'll never retire, man, because it's. I, I call it retirement. Itis. It's a disease where you think that one day you're going to rat hole enough money and 65 is the age. I think that's been set by Wall Street. Right. Wall street and Social Security, because they've set the number. But, man, I've seen people retire and they lose their purpose. You can only play golf so much. And I've had, I've had people come back to me after I sell their business and they think that they're going to go play golf. I had one guy snap his golf clubs in his garage. He was so irritated his life, he called me back and said, get me back into a business. He. You can't sit on your ass and do nothing. You have to work. So people that tell me they want to retire, man, I know they've been bitten by the disease. Retirement. Itis, you know, you, you got the disease that says it's sitting around on your ass as a life well lived. And it's not.

[Sean]

Yeah, it's fun for like a, a month. And then you're like, what's next?

[Chad Peterson]

Oh, yeah, man, I can sit on my nuts for two weeks, no problem. But I gotta get back to work.

[Sean]

Yeah, 100%. Even on vacation, I'm itching to work sometimes.

[Chad Peterson]

Absolutely. I gotta check my phone. Yeah, right.

[Sean]

Yeah, yeah, a hundred percent. Social Security is a whole nother conversation. That's scam.

[Chad Peterson]

Yeah, well, I think it'll come back now that Doge is ripping through it. I think it'll come back.

[Sean]

Well, they found out there's like people, like millions of people collecting it that are dead.

[Chad Peterson]

Yep, absolutely.

[Sean]

So it's apparently going to run out in like seven, eight years, right? The current rate.

[Chad Peterson]

Yeah, I've heard that. I don't know if it's true or not because we're not on the inside. We don't really know. But what I would say is there's a lot of corruption out there. And, you know, people say, well, Elon is cutting wasteful spending. It's like, no, man, he's cutting corruption. You know, it's one thing to overspend. It's one thing to go out too many times, go out to dinner too much, buy a car that you can't really afford, and you're, you know, now you're racking up your credit cards. We're talking about $30 billion has been found in the last couple weeks. That's. That's not wasteful spending, nuts. That's corruption.

[Sean]

Absolutely. Did you have a mentorship throughout this process?

[Chad Peterson]

Yeah, we mentor people. We mentor how to buy, how to sell. We have mastermind groups. You can work with me directly, work with my team. We teach you step by step. And people that join my organization, people that join with me, they win. They never fail.

[Sean]

Yeah.

[Chad Peterson]

So out here, we had an event with Bradley a couple months ago, and I taught a big room with Brad, and we've got three people already that are about to buy a business. And that was in two months.

[Sean]

Holy crap.

[Chad Peterson]

Yeah. So you come to me, you want to buy a business, you come to me, you want to sell a business. We got you covered.

[Sean]

That's cool, man. You and I will have an event. We'll link some details in this video as well. Yeah.

[Chad Peterson]

Once we plan that, we should do an event. I want to do an event that's somewhere around 400 people. I don't want to go any more than that.

[Sean]

Yeah.

[Chad Peterson]

But 400 people, I can really be effective and show them really how to become wealthy. Because if there's one thing that just. It just infuriates me is that all the online gurus and the hucksters selling things that don't work. You know, I want to show people really how to. How to create wealth, time, and freedom in their life. Because you don't want money. Everybody's chasing money. But what does money do for you if you don't have wealth? Well, money, you're always chasing a dollar. Right. So if you don't become wealthy, you're chasing money. Always. Okay. And if you don't have wealth, then you don't have time. And if you don't have the freedom to have your wealth and your time to go enjoy the things you like to do, then what are you doing it for?

[Sean]

Right.

[Chad Peterson]

You know, so if you're running a business, you're not passionate about it. It's not bringing you wealth, time and freedom. I tell people, sell your business, create liquidity, because liquidity leads to wealth. Take that liquidity and move to the nlb, the next larger business. And that's how, like you said, that billionaire that's coming here today, that's how he made his money.

[Sean]

Yeah. Three big assets.

[Chad Peterson]

Yeah.

[Sean]

When you study all the billionaires, they have massive liquidity events. Elon Musk, all of them.

[Chad Peterson]

Absolutely. And nobody really pays attention to that. They Think they earned their way there? No, no, no.

[Sean]

That's like 1% of it.

[Chad Peterson]

They had a liquidity event. That's why I teach ordinary people. Ordinary Joe Six Pack. I show him how to run a plumbing company a certain way to have a liquidity event, to then go buy a larger company and make 10 times, 15 times more.

[Sean]

Yeah, Yeah. I love that FTC is cracking down on these gurus, man.

[Chad Peterson]

I hope they are.

[Sean]

No, they are a couple big ones lately. Yeah.

[Chad Peterson]

Well, I won't mention a name because that might be tacky, but there's one going through a major investigation right now.

[Sean]

Yeah.

[Chad Peterson]

That we know of.

[Sean]

And there's a few, man.

[Chad Peterson]

Yeah, I mean, they. They all do the same stuff, man. They do the same shit. They're like, hey, look at this jet. You can do it, too. Just pay me $29. So, man, like, are people that stupid to know that, you know, to think that's. Think that's real? It's not real.

[Sean]

There's no longevity to it. If what you're teaching doesn't work, word of mouth will. Just. These days with social media, word of mouth can destroy you.

[Chad Peterson]

Absolutely. Yeah. You're either on the good side of things or you're not.

[Sean]

Yeah.

[Chad Peterson]

You know, and those that are peddling the bs, including Cody Sanchez, you know, because people are listening to her, you know, she's pretty.

[Sean]

She's got great branding.

[Chad Peterson]

She's got great branding. Pretty girls, you know, she's been on.

[Sean]

The show, by the way.

[Chad Peterson]

Yeah, that's cool. I'm. You know, that's. I mean, that's fine, but I'm just giving it to you real, man. She's not a transactionalist. She's not been doing this for 25 years. Ask her to get you the money for an SBA loan. Ask her to walk you through the process. Ask her how to actually get a business in your hands, how to. How to conduct yourself through the transaction to make sure that you get that business. She can't do it. Well, because what she can do is look pretty in front of the camera. And she's really good with speaking, and she gets people fooled in. They're going to go buy a Laundromat.

[Sean]

Yeah.

[Chad Peterson]

Like, why the hell would you buy a Laundromat?

[Sean]

I might have to set up a debate between you two.

[Chad Peterson]

Cool. Anytime.

[Sean]

I think there's an audience for her stuff. It's a more beginner audience. You know, you sound more advanced.

[Chad Peterson]

It's. It's a beginner audience. But here's what I would Say is that if you're going to go buy a laundromat where you're chasing quarters and you're making 60 or $80,000 a year, I can show you how to not chase quarters and go make $400,000 a year. What do you want to do?

[Sean]

400.

[Chad Peterson]

And by the way, how many laundromats are there in the United States? Like who knows? 30,000, I don't know. So you're telling millions of people to go buy 30,000 laundromats?

[Sean]

Yeah. @ scale, it doesn't make sense.

[Chad Peterson]

Exactly.

[Sean]

Yeah.

[Chad Peterson]

And by the way, don't homes have washer and dryer hookups these days?

[Sean]

Yeah.

[Chad Peterson]

Then what are we doing? Yeah, you know, it's, it sounds nice. It's a sound by like, oh, you know, to somebody who, it works at a factory and makes 15 an hour and they get the idea they can go buy a laundromat, you know, so she can pedal some sort of hundred dollar program or 200 program, but it's not real, man.

[Sean]

Yeah.

[Chad Peterson]

I wouldn't tell you to buy a laundromat. I wouldn't tell my son to buy a laundromat. Sounds like a lot of work.

[Sean]

Yeah.

[Chad Peterson]

Yeah.

[Sean]

Passive income. Do you believe in passive income?

[Chad Peterson]

Well, I mean, if you, if you buy a business and you think that you're going to be owner absentee, like you're not going to work, then I would say don't buy a business because, you know, you're, you're disillusioned. But you have to work your business like you're here working. You're, you're working.

[Sean]

Yeah.

[Chad Peterson]

Right. So why would you want to own a business if you have nothing to do with it? And it's so, it's, it's that again. Another sound bite. Hey. Run an absentee owned business, okay? If you, if you can be absentee, then why, why is the seller selling it? Now that seller could be selling it because he wants to create liquidity. And that's a good enough reason. But if it's truly owner absentee, which they're, they never are, then why would you sell it? If I don't have to show up anywhere, I'm not selling it.

[Sean]

Yeah.

[Chad Peterson]

So don't get enchanted with the idea of not working. Get excited about what you do. Be passionate about what you do. What with the idea of not working, but with the idea of retirement itis. And you're just going to sit on your ass and do nothing. That's not a life well lived. We have to have Purpose. We have to wake up every day and have something to do, something that lights us up, get excited about life, you know, it's like, oh, I wouldn't have to work that much if I was self employed, man. That's, that's, that's not the reality.

[Sean]

The opposite. It's the opposite. Work more, but it's more fun. Yeah, I love what I do.

[Chad Peterson]

Yeah, if you love what you do, it's not work. No, I love what I do. Absolutely love it. You couldn't get me to do anything else. Yeah, I love being here with you. I love working with my team. Like, I don't, I don't want to work part time. I don't care about Timothy Farris's four hour work week. What am I going to do? There's 168 hours a week. What am I going to do for 164 hours for that? For the rest of the week? And you can only go out to dinner so many times. You can only go exercise so many times, sit at the beach so many times. 164 hours of doing what? Yeah, I gotta work, man, because working is fun. Like, I like working with you. You and I had plans, right? We're gonna do things together, you and I. I like that. I like, you know, the community of that. So find something you love is what I would say, and just keep doing it over and over again.

[Sean]

Absolutely. Any industries you're targeting, any ones that have high multiples, like AI or anything crazy?

[Chad Peterson]

No, we sell business of all stripes, you know, any kind of business we sell. So it doesn't matter what it is. It comes down to cash flow. So what I teach people is the number one important thing, whenever evaluating a company, buying company or selling a company is cash flow number one, number two, cash flow. Last but not least, cash flow. So it doesn't matter what business it is, what does it make, what is it? Cash flow. And a lot of people don't even know what cash flow is. Yeah, they have no idea. And what cash flow is, is net to the bottom line, to the owner. That's everything the owner gets out of the company. So the salary, basically, no salary, plus the company earnings, plus add backs, like, you know, let's just say your, your, your taxes that you pay for your income, that's an add back. Your vehicle, your, that water you bought.

[Sean]

So all the assets, basically.

[Chad Peterson]

Yeah, well, no assets are different. I'm talking about like whatever you spend, okay, that's an add back for your vehicle, the fuel you put in your vehicle. Your cell phone, all the add backs go in. So whatever your company does for you, those are add backs. We add those back in. As long as they're verifiable and defendable to the bank, we can prove that the business is expensing those for the benefit of you. We can add that back in.

[Sean]

Wow, I didn't know that.

[Chad Peterson]

Yeah, absolutely. So that's cash flow.

[Sean]

That's good to know.

[Chad Peterson]

Yeah. A lot of people think they're going to sell a businesses off of off of ebitda. Earnings before depreciation and amortization. Businesses are not sold off of ebitda. Businesses are sold off of cash flow. So let me give you an example. Let's just say you're making $5 million a year in your company. You're tired of the tax bill, so you buy an airplane. That airplane costs you $2 million.

[Sean]

Yeah.

[Chad Peterson]

But you go to sell your company and the new owner doesn't want that airplane. That's an add back. See, the buyer is not going to buy that airplane. He doesn't want it.

[Sean]

Right.

[Chad Peterson]

So that spending went away. So if that owner wasn't spending his money that way, that would have been income. You have to add that back.

[Sean]

I see.

[Chad Peterson]

So people that buy expensive cars, you know, like I got, I have a Rolls Royce. Yeah, right. So I have a Rolls Royce. It's over £6,000 for the depreciation. And if I ever go to sell my company, which I'm not, but if I did, I can add it back. My company has been paying for it. That's a buyer doesn't have to spend his money the way that I spend my money. So that's an app.

[Sean]

Yeah, I got a G wagon. So that'd be an outback.

[Chad Peterson]

Yep.

[Sean]

Over £6,000.

[Chad Peterson]

Yeah. Well, that's 179 depreciation. So you're going to be able to rapidly depreciate that car. But what I'm saying is if I bought your company, I would say, okay, Sean, I'm going to buy Digital Social Hour. Okay. If I bought it and you said, well, the company pays for my G wagon, I can say I don't want it. Okay, then all my payments, all your payments that you've been paying, that's an add back because I'm not going to spend the money that way. So if your payment on that thing is two grand a month, which you probably paid cash for it. But if the payment is two grand a month or 2,500 bucks a month, and you've been paying for that for the last two years, that's just an add back to your, to your earnings, which affects the sales price.

[Sean]

Good to know. So if a business has 5mil cash flow, what are you seeing those sell for?

[Chad Peterson]

On average, if it was making 5 million in cash flow, that business can more than likely be sold for $20 million.

[Sean]

Okay, so 4X.

[Chad Peterson]

Yeah. On, on that kind of earnings. Yeah. There's very few people that make $5 million net per year. Very few.

[Sean]

I think I'll be there in a couple years.

[Chad Peterson]

Yeah.

[Sean]

Yeah. Because we're doing like a mill right now, but we're growing quick, so.

[Chad Peterson]

Yeah, I mean, with something that you have, you can monetize this differently too. Yeah, I mean, you and I are talking about that like you and I are going to monetize things.

[Sean]

Yeah. There's a lot of back end stuff I'm not even doing yet. That's just the front end. I'm doing a mill, so.

[Chad Peterson]

Right. So yeah, we could definitely talk about that. But you know, something like you have, you can get a pretty, pretty good multiple off it, especially with, with your reach and your brand.

[Sean]

I've seen pods sell for stupid amounts.

[Chad Peterson]

Yeah, that's what I'm saying. Yeah. There it, it could sell for more depending on how you monetize it. And, and the, the businesses that you build off of it. Yeah.

[Sean]

Because it's got the viewership element too. So I don't know how they factor that in, but.

[Chad Peterson]

Well, it's, it comes down to cash flow. It always comes down to cash flow. But if you. And we'll talk about it off podcast. But if you build this a certain way, I can really set you up for success.

[Sean]

Oh, yeah, yeah, we'll talk about it for sure. Anything else, man? Any events you got coming up? Speaking engagements or anything?

[Chad Peterson]

Well, yeah, Bradley and I are doing an event on May 2nd, Lightspeed VT. And we only have 65 seats available, but I'm looking for 60. Well, actually 60. We have 60 that are available, but I'm looking for people that are, that own a business. You know, if business owners are making 200, $250,000 a year net, I want them in that room. I want to show them how liquidity leads to wealth. I want to show them how to go from working in your business and working every day and going from working to wealthy. I want to show them how to go from stress to success. I want to show them how to trade in their job, which stands for just over broke and go into wealth, time and freedom. And I can show them that. So Bradley And I, on May 2nd, we're going to be doing an event. It's a one day event and I believe Brad's going to have it catered. He does a good job at that, you know, he really does a good event.

[Sean]

Yeah, he's got a great venue.

[Chad Peterson]

He does. And so we're really going to be showing people how to do this. So. Yeah, if you, if, if your audience wants to go to this, you got to go to Real Biz Acquisitions to get a ticket.

[Sean]

Okay.

[Chad Peterson]

Yeah, we're doing that event. But you and I are going to be doing an event.

[Sean]

Yeah. And yeah, we're going to plan on this year.

[Chad Peterson]

Yeah.

[Sean]

Maybe F1 Vegas. I'm thinking.

[Chad Peterson]

When is that?

[Sean]

That's in October, November. A lot of big people will be in town.

[Chad Peterson]

Okay.

[Sean]

Yeah, we'll do like a 400 person about.

[Chad Peterson]

Yeah, 400 people is about my max that I want to bring on.

[Sean]

Yeah, yeah.

[Chad Peterson]

Because I think I can be effective in that room. It sounds cool to be like, yeah, let's get 2,000.

[Sean]

But no, it's a, it's a show.

[Chad Peterson]

Yeah, it's a show. I have 400 people's about my max.

[Sean]

Yes. I did a thousand person event with Damon John and everyone was just talking in the back. So you want a nice intimate room.

[Chad Peterson]

Yeah, right. Yeah, I want. Actually I get militant about it if you're going to be in my room. Cell phone off.

[Sean]

Oh, yeah.

[Chad Peterson]

Yep. Wow. Cell phone off.

[Sean]

You're hardcore.

[Chad Peterson]

I'm not there to waste my time. And we have a 21 second attention span now, is what they say.

[Sean]

I think it's going less too well.

[Chad Peterson]

As far as, as far as searching online. Yes. But even in person, 21 seconds. Because what happens is that phone is going to go off or you're going to be like, oh, what's on my phone? Who do I need to text? Who I need to email?

[Sean]

Yeah.

[Chad Peterson]

I tell people, turn off your cell phone. If you need to get on your cell phone, leave the room, go do it, come back. You're going to miss some information that you really need. But you know, the world has been conditioned that, that that information is not important. Whatever is being spoken about. Yeah, listen, at my events, man, I'm giving you real information that's tactical. I will turn you into a multimillionaire. But you can't be looking at your phone whenever I'm talking because we're not going to get anywhere. Yeah, I cannot compete with your cell phone. I cannot compete with your distraction. And look if you either want to be wealthy or you want to be distracted. And those who are distracted are not wealthy.

[Sean]

Yeah.

[Chad Peterson]

So if I, if I get people in a room for one day undistracted, I'll change their lives.

[Sean]

A lot of distracted people these days, man.

[Chad Peterson]

Absolutely.

[Sean]

Yeah.

[Chad Peterson]

I feel heads in the sand, distracted.

[Sean]

Yeah. Feel for these college kids and it's tough learning environment.

[Chad Peterson]

Yeah. So if you're a college kid and you don't have any job prospects, you have a degree or you almost have a degree, don't hunt for a job. Go buy a job. Go buy a business. They're everywhere. There's a 10 trillion dollar wealth transfer of businesses. There's $10 trillion of businesses about to change hands.

[Sean]

Wow. That's. Cause all the boomers, right?

[Chad Peterson]

Yeah, all the boomers still, they still own most of this country's wealth.

[Sean]

And a lot of them don't know how to use the Internet. So they don't even know how to sell their company.

[Chad Peterson]

Exactly.

[Sean]

You gotta hunt for these people.

[Chad Peterson]

Yeah, well, nobody knows how to sell their company. Even those that act like they know how to sell their company, they don't have the experience. They don't know how to get to the win. They don't know how to get to the closing table. And I do. I've been doing this for almost 25 years. So I can take somebody that has a business and I can get it sold. Only tends to be a 10% chance that I don't. But equally, I can take a recent college grad and I can get him the money and the contracts and everything to do it, to get it done and to buy that business safely to where it doesn't fail. So that's what I do. It's what my team does across the country.

[Sean]

Yeah. Do you want to become a billionaire?

[Chad Peterson]

Oh, I will be a billionaire. That's a goal of yours? I will be, yeah.

[Sean]

Only like what, 300 people in the U.S. 3. 350.

[Chad Peterson]

Yeah, I think it is 350.

[Sean]

Yeah. Yeah. That's a very exclusive club, man.

[Chad Peterson]

Yeah, I'll be there.

[Sean]

I've only seen. I was doing research on billionaires. I've only seen like 12 of them go on podcasts there. A lot of them are really low key.

[Chad Peterson]

Yeah. Because a lot of them aren't really outspoken. They're usually quiet. They're very disciplined billionaires. Very disciplined. Quiet under the radar. Which one have you studied the most studies the most? Probably Trump. Really?

[Sean]

Okay.

[Chad Peterson]

Carl Lacan studied Warren Buffet a little bit. I mean, I can't do what? Warren Buffett.

[Sean]

Too slow for me.

[Chad Peterson]

Oh, yeah, way too slow. I don't want to sit around and, and read financials.

[Sean]

He didn't become a millionaire until 50 something, I, I believe.

[Chad Peterson]

Yeah, that's what's said anyway. Who knows? It was like 56, 57, I think.

[Sean]

Yeah, that's too late for me. Yeah, yeah, that's a lot of life right there.

[Chad Peterson]

Did you say millionaire, though?

[Sean]

Millionaire, yeah.

[Chad Peterson]

Oh, okay.

[Sean]

Billion.

[Chad Peterson]

Being a millionaire is not hard, man. Like when I was younger, I was like, man, one day I want to be a millionaire. I became a millionaire. I was like, that wasn't that hard.

[Sean]

So in 1 million is not what it used to be.

[Chad Peterson]

No, exactly.

[Sean]

Yeah. I think a hundred years ago a million dollars was like something stupid. Tens of millions of dollars. That's when they coined the term millionaire. Like early 1900s.

[Chad Peterson]

Yeah. I think if you're, I think if you're wealthy now, not wealthy, but if you're doing real well now, I think, I think a yesterday's million is today's 20 million.

[Sean]

I'm thinking 20 million now. Yeah, yeah. Because a million you can't even buy a nice house.

[Chad Peterson]

Yeah, right. Yeah, 20.

[Sean]

Like if you have kids, at least.

[Chad Peterson]

At 20 million you can put it into a good investment and, you know, if you don't want to work anymore, put it into a good investment. Live off the, live off the interest and, you know, live well. Yeah, but you're not going to get anywhere with a million dollars. And I see these people that literally talk themselves out of success because the answers are there. I have the answers. I'm willing to give them to you. I'm willing to teach you. Come to my event, after my event. You will not be the same. You won't look at money the same. You will understand liquidity, you understand leverage. You'll understand the safety of buying a business. And I see people just head in the sand, stuck in what they're doing day out, you know, day in, day out, grinding.

[Sean]

Yeah.

[Chad Peterson]

You know, like not making any change. People are so complacent anymore. They don't, they want to be successful. Right. And the information is at our fingertips. We are in the information age, bigger than what we ever have. AI. It'll tell you everything you need to know. A long time ago, you had to search for that information. So it just goes to show that if the information was available, people aren't, are going to make a change. They're still not going to do what it takes to become successful.

[Sean]

No, that's so true. Because it's at your fingertips right now. All the answers you could ever need. Yeah.

[Chad Peterson]

And porn. Pornography is still the number one searched item on the Internet.

[Sean]

Wow.

[Chad Peterson]

So if I could show somebody how to become a multimillionaire this year, number one, they don't believe it. They're like, oh, I couldn't do it. I'm not worthy of those dreams. Or. Or that guy's just peddling something, or he's just on a podcast saying that. And, well, they'll find every excuse in the world. I literally turn people into multimillionaires. But you know what they'll do? They'll be like, oh, I'm not going to do that. But they'll. They'll watch some porn or. Or get lost and have brain rot on TikTok or Facebook or Instagram. Yeah, they'll spend five hours a day doing that, but they won't spend two hours listening to my information.

[Sean]

Yeah. A lot of comfort these days, right? I think they've been conditioned to think that way, too.

[Chad Peterson]

Yeah, absolutely. Yeah. It's just the laziness factor. A brain rot, sitting around, you know, scrolling your phone like, you're not dying, man, we're dying. Every one of us are dying. Like, I'm closer to my deathbed today than I was yesterday. Tomorrow I'm one day closer to the coffin.

[Sean]

Yeah.

[Chad Peterson]

And. And people are acting like that's not happening. Like they got all the time in the world. You don't, man. You know, life is happening right now. Quit wasting your time on your phone. Learn the information. Get the damn information that you need to go out there and win. That's what I tell people, man. Quit wasting your life.

[Sean]

Yeah. I often think about this, like, is work, work ethic teachable? Right. Because out of my hometown, I'm like, the only one who really made it out. But I wasn't the smartest. I just worked way harder than everyone else, man.

[Chad Peterson]

Look, you don't have to be incredibly smart. You have to be able to go in, show up every day, execute, repeat, wash, repeat, wash, repeat. That's it.

[Sean]

Yeah, yeah.

[Chad Peterson]

I mean, it's. There's no. There's no magic science to it and anymore. Nowadays, there's a help want to sign on every business out there.

[Sean]

Facts.

[Chad Peterson]

The fact is, if you want to show up nowadays, you'll win. It's the easiest time in history to become successful. You have to learn what you need to know to do it, and then just show up and execute every single day. And you put yourself ahead of 98% of the competition.

[Sean]

Absolutely, Chad. Where can people find you, man? And we'll link your website and your event below.

[Chad Peterson]

Yeah, go to Chad Peterson.com go to Peterson acquisitions.com either way. So, Chad, Peterson.com you can go there to learn everything you need to learn to become successful. I'm a no BS guy. I'm going to tell you to you straight. You know, I'm not, I'm not pedaling snake oil. I'm not here to mislead anybody. I give it to you real. Go to petersonacquisitions.com if you really want to sell your company or buy a company. But go to ChadPeterson.com if you want to learn.

[Sean]

Love it. We'll link it below. Thanks for coming on, man. We'll do car, too.

[Chad Peterson]

Yeah.

[Sean]

All right, guys, check him out. See you next time.