Ep. 233: What Happens When You Buy a Business and It Fails? Real Talk on Failing with Air Force Veteran Jed Morris

I have had a lot of guests on the show to talk about buying a small business.  From lenders, buyers, and investors- everyone seems to be saying, "Go buy a business!  You will make a ton of money and can't go wrong!"  

Well, today's guest is a story of what happens when it does go wrong. 

Jed Morris is an Air Force veteran who bought a landscaping business and then quickly bought another.  He did a lot of things right: 

• Worked inside business #1 for 6 months before making an offer
• Built a great relationship with the owner
• Made a good deal that made financial sense

But after a few months, the wheels started to come off and Jed ended up going bankrupt on the deal.  

Despite this, he is still optimistic on buying small businesses.  

His is a great story of resilience, grit, and how to think about risk.