Amos Kim

Former CEO of @withkumo_ (acquired). Former CEO of Sellerbench (acquired). Tinkering & Exploring.

[Amos Kim @amoshkim]

@tomas_boismene @lucaspatiri_ UGC

[Amos Kim @amoshkim]

@lucaspatiri_ UGC

[Amos Kim @amoshkim]

@Sam_Rosati Building for smb equity checks has always interested me and I had it parked under “One day, maybe.” Distribution sounded painful and I prefer building stuff. Would be happy to explore!

[Amos Kim @amoshkim]

@sweatystartup Also, many VC backed startups innovate the wrong things. Most winning startups copy working business models + better distribution and/or experience.

Uber = taxi calling service + mobile app.
Airbnb = Craigslist rentals + trustworthy site.
Amazon = bookstore + online store.

[Amos Kim @amoshkim]

@ClintFiore Assuming a founder is working on something their audience wants to pay for: 100k audience 100%. Then, the path is just execution and consistent excellence.

“First time founders are obsessed with product.

Second time founders are obsessed with distribution.”

[Amos Kim @amoshkim]

@t_blom Starting solo lets me freely iterate to the problem I want to solve. Feels selfish to switch to Problem 2 after working on Problem 1, because I have higher conviction (often problem 1 could still work). Painful pivot whiplash for my co founders.

But, yes, to go far, go together.

[Amos Kim @amoshkim]

@ClintFiore @GShipp Generational Equity Example:
https://t.co/7p6EpjFPuB

Tworld Example:
https://t.co/guGgshRiJN

[Amos Kim @amoshkim]

@ClintFiore @GShipp We pull from over 70+ sites (including Generational Equity and Tworld!)

Sometimes sites feel hidden because:
- We group similar listings together
- We reformat titles for readability
- New listings on sites are pulled in batches so you may see a bunch from 1 site in a row

[KUMO | withkumo.com @withkumo_]

Stop paying too much for a business and learn how to read a QoE report.

You should be getting your money's worth.

Here are the 10 things you should know about Quality of Earnings reports and why they matter:

[Ben Tiggelaar 🟠 @bentigg]

Its crazy how much has changed for the better in small business buying 🤯

Back when I first bought 6 years ago:
-no SMBTwitter
-no ‘Buy then Build’
-no investor equity $ allowed w/o PG
-no pari passu debt to stretch to $5-10M purchase
-no seller rollover

If not now…then when?

[Eric Hsu @lawyer4SMBs]

Yesterday, I posted about how to use $100K to buy a $1M-$1.5M business generating $250K-$350K in cashflow.

In this thread, I'm going to show how the numbers work using this actual example.

Yes, it requires risk, hard work & you may need to quit your 9-5.

But freedom...

[Heather Endresen @EndresenHeather]

Let's have all of the women acquisition entrepreneurs / searchers say hello. We have a growing group of women jumping into the game.
Ladies of ETA, reply with anything you want SMB Twitter to know about you or your search, or tag someone I missed. I'll tag a few just to get us started:
@BekiD_SMB
@dmontenegrox3
@evelin_district
@yvetteowo
@Whitney_Sheph
@trixie_pockets @dextrasaurus
@MoniqMills

[Amos Kim @amoshkim]

@ClintFiore @nunziopresta @agazdecki @BizBuySell @DBarnettMoncton @EdMyso @morgantate_ @EvansTylerB @petelehrman @EndresenHeather Echoing what a lot of people have said here: no easy way to query that data unfortunately. Two thoughts:

The vast majority of deals come in to @withkumo_ are from sites that brokers tend to work off of (and not from FSBO)

We've noticed that FSBO sites are often much smaller

[KUMO | withkumo.com @withkumo_]

This week on SMBTwitter:

🤖How to harness ChatGPT to buy/operate a business w/ @chrisxmunn @SMB_Attorney

💼How to hire a GM with @AZ_SMB

⚖️Legal DD techniques with @elialbrecht

🤝@ClintFiore's SMB Networking Day!

🍻@RoryTyer's latest SMB meetup

https://t.co/KujWtmdJlN

[KUMO | withkumo.com @withkumo_]

3 super essential threads on standing out to sellers you need to read before buying your first small business: 🧵

[Steve Wiesner @SteveWiesnerSMB]

Roll-ups.

I'm old. I've seen a lot. I've got stories to tell.

They can be game changers, but they often end in disaster.

If you think you're gonna roll up an industry, buckle up and let's take a walk through history.

👇

[KUMO | withkumo.com @withkumo_]

7 ChatGPT prompts you should be using to help you buy a business:

[KUMO | withkumo.com @withkumo_]

Boomers are retiring and $7 TRILLION dollars worth of businesses are about to change hands by 2030.

Three things to kick off your business acquisition:

[Clint Fiore 🦬 DM for Biz Deals @ClintFiore]

SMB Adjusted Earnings Cheat Sheet:

EBITDA = just the ITDA addbacks

Adjusted EBITDA = ITDA plus Selling Owner's Pay Adjusted to Market for a GM to replace

SDE = EBITDA + Selling Owner's Entire Pay/Perks/Benefits + Normalization Adjustments + Discretionary Expenses N/A to Buyer

[KUMO | withkumo.com @withkumo_]

Top reads this week if you're buying a small business:

👀@SMB_Attorney on upcoming SBA changes

✍️@divitkos and the 2023 SaaS CEO survey

⚙️@RegZeller made a list of everyone in SMB manufacturing for you

🤑@Dan_Tamkin on how much a broken deal costs

https://t.co/5JEU0zJwmF