Ace Chapman is the founder of Ace Chapman Business Acquisition Consultants. He bought his first business when he was nineteen, a stock market simulator called CoolWallStreet. After selling it, he realized that there were benefits to buying already running businesses as opposed to starting off from scratch and thus began his adventure into the world of private equity.
He dabbled in investing in the markets for a while but began to lose money at an alarming rate. He then decided that he needed to work on honing his skills in the business world before continuing on his own. He took advantage of an opportunity to work in corporate America but gradually realized that the prospects of the future were very limited in a 9 to 5 setting.
He took some time and spent a good bit of money investing in mentors and then jumped back into buying businesses. In his career he has bought and sold over 25 businesses and seen hundreds if not thousands of companies. Ace notes that the key is to find the diamond in the rough. So while he may go through 100 companies just to find the right one, there are other factors that may affect the deal.
In this episode we discuss the strategies he uses to identify winning companies, how to put a deal together and how to pay for a company even if you don't have any money. Ace has taught a lot of his students to replicate his system and now invites you to sit in on our conversation so that you too can learn how to become a “Master Of The Universe”.