Burk Adams tapped his 401k to buy a business that reinvented his career, gave him back time, and catapulted his wealth. Topics in Burk's interview:
Using your 401k to buy a business with ROBS
Buying a business being the most impactful thing he's done in his life
Realities of a C corp vs. LLC
Teaching his kids acquisition entrepreneurship
How it seems easier to have bought a business in 2015 than now
The feeling of giant SBA loan repayments every month
His business acquisition being a full send
How he thought about the failure risk
Why he liked PC Enclosures
Acquisition price & numbers
Buying a $2.6m business while only having $100k in cash
Revenue numbers
Handling the brutal first 6 months (and how it was healthy for the future)
What's worse: depression or panic?
Strong growth in the last few years
How to think about one-off purchase vs. recurring revenue businesses
How to think about buying a manufacturing business
Small business ownership vs. being a consultant
2 new businesses that have come out of his acquisition
Links & how to reach Burk:
PC Enclosures

Storm Shell, Burk's outdoor TV enclosure business targeting consumers

Backyard Snowstorm, the snowmaking business Burk started with his son
Guidant Financial
LinkedIn
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