In this repeat-guest episode, Tim welcomes Jimmy Feeman back to the show after Jimmy successfully closed on a subcontracting business in Montana. They dig into what actually happened between "I want to buy a business" and "I finally bought one". The conversation also explores how Jimmy evaluated the deal, why he brought in a partner, what he is changing first, and why persistence matters more than people expect when trying to acquire a business.

Tim is an entrepreneur who believes everyone should explore the opportunities that business and real estate can provide on the path to financial freedom. He owns and operates a wine & liquor store, a software startup, a consulting company, and a growing portfolio of commercial and residential real estate.

Tim's passion for independent business has led him to support dozens of other business owners. For over a decade, he has worked with businesses on strategy, processes, finances, and marketing. These experiences, along with analyzing dozens of other businesses for potential acquisition, have provided Tim with an immense knowledge base to pull from.

Tim has appeared on multiple top-tier podcasts in the financial space, such as Bigger Pockets Money and The Freedom Chasers Podcast.

[00:00 – 00:12] Search Expectations vs. Reality

[00:18 – 01:39] Jimmy Returns After Closing a Deal

[01:39 – 08:03] The Deal Closed, But the Transition Got Messy

[08:03 – 12:40] Why Jimmy Wanted a Different Kind of Business

[12:40 – 16:33] Finding the Business and Vetting the Owner

[16:33 – 22:08] Relationship Risk, Builders, and Key Employees

[22:08 – 26:29] Risk Is Everywhere

[26:29 – 31:21] What Jimmy Is Changing First

[31:21 – 34:40] Working Capital and Cash-Flow Habits

[34:40 – 42:12] Why the Deal Multiple Made Sense

[42:12 – 47:14] Why He Brought in a Partner

[47:14 – 55:00] Creative Financing, SBA Structure, and Bank Friction

[55:00 – 01:00:07] Closing Headaches and Getting the Loan Across the Line

[01:00:07 – 01:02:24] Convincing the Bank You're the Right Buyer

[01:02:24 – 01:03:49] Persistence Is the Real Advantage

Jimmy Feeman is an entrepreneur and former Forbes 30 Under 30 honoree who launched No Baked at age 23 and grew it into a nationally recognized dessert brand spanning e-commerce, scoop shops, franchising, and packaged goods experimentation. In this episode, he returns to talk about acquiring a Montana-based subcontracting business and what he is learning in real time as an operator and buyer.

Instagram: instagram.com/jamesfeeman/

Facebook: facebook.com/jimmy.feeman/

X: x.com/feemanjimmy

Website: https://nobakedcookiedough.com/

LinkedIn: linkedin.com/in/jamesfeeman

Website: https://www.powerofbiz.com

YouTube: https://www.youtube.com/@powerofbiz

Instagram: https://www.instagram.com/timtdelaney/

Threads: https://www.threads.com/@timtdelaney

LinkedIn: https://www.linkedin.com/in/timothytdelaney/

Facebook: https://www.facebook.com/timtdelaney

"The biggest hurdle that came up, and this is just funny for me was like, well, you don't have enough industry experience." — Jimmy Feeman

"Having a job has to be the biggest single client risk in the world." — Jimmy Feeman

"You have to not be afraid to walk away." — Jimmy Feeman