Summary: <br> Ace Chapman bought his first business when he was just 19. It was an online stock market simulator called CoolWallStreet. After seeing the benefits of buying a business over starting one, he saw the little-known opportunity that existed buying small businesses. He coined the term Micro Private Equity and began building a small Warren Buffett-like portfolio of these acquisitions. Since then he has pioneered the Micro Private Equity Industry, building and growing innovative funds in the space.<br> “If a seller isn’t interested in giving me a great deal with an earn-out and with seller financing, then it’s a good sign to me that they don’t think that I’m the right person to be able to run that business.” – Ace Chapman<br> Episode Highlights:<br> <br> The effect of the COVID-19 pandemic on the buying and selling industry<br> Business opportunities that you can find right now<br> Advice to people who want to buy a second business (Choosing between the same industry or a different industry)<br> How to find businesses to purchase and how to pitch businesses for sale<br> Do you need a broker in buying and selling businesses<br> How to find great purchasing and sales deals<br> How long will it take to have stability in the business that you acquired<br> Doing your due diligence when buying a business<br> Ace’s personal bucket list and business bucket list<br> <br> Websites:<br> <a href="https://www.acechapman.com" target="_blank" rel="noopener noreferrer">AceChapman.com</a><br> <a href="https://www.figiroyalty.com/" target="_blank" rel="noopener noreferrer">FIGIRoyalty.com</a><br> Connect with Ace:<br> <a href="https://twitter.com/acechapman" target="_blank" rel="noopener noreferrer">Twitter</a><br> <a href="https://www.instagram.com/ace.chapman/?hl=en" target="_blank" rel="noopener noreferrer">Instagram</a><br> <a href="https://www.linkedin.com/in/ace-chapman" target="_blank" rel="noopener noreferrer">Linkedin</a><br> <a href="https://www.facebook.com/websiteinvestor/" target="_blank" rel="noopener noreferrer">Facebook</a><br> <a href="https://plus.google.com/117213745989339952382" target="_blank" rel="noopener noreferrer">Google+</a><br> <a href="https://www.youtube.com/channel/UCaNlGb8yu09Pvp-kUsyeW-w" target="_blank" rel="noopener noreferrer">Youtube</a><br> <br> <br> Transcript: <a href="https://eventualmillionaire.com/wp-content/uploads/2020/08/9218_ace_chapman-3.pdf" target="_blank" rel="noopener noreferrer">Download</a><br> <a href="https://www.gmrtranscription.com/video-transcription.aspx" target="_blank" rel="noopener noreferrer">Video Transcription</a> provided by <a href="https://www.gmrtranscription.com/" target="_blank" rel="noopener noreferrer">GMR Transcription Services</a>.<br> Jaime: Welcome to Eventual Millionaire. I'm Jaime Masters. And I have Ace Chapman back on the show. This is his third time around. He's one of the top-level people considering he's one of the only people I've had three times around. You can check him out at AceChapman.com. Thanks so much for coming back on the show again today.<br> <br> Ace: It's great to be here again. I definitely feel special. And, more importantly, a lot has happened since the last time. So, I think there's a lot to talk about.<br> <br> Jaime: Right? I mean I know you're the buying and selling expert. I understand I send all my people that are going into that to just talk to you about some of the stuff. And then Covid happened. So, tell me a little bit about where you're at and where the industry and what you've seen shift with all this stuff going on.<br> <br> Ace: So, it was interesting. Probably one of the interesting places to start is one of the things that we were talking about in the last interview was I had just completed raising about $12 million for a fund. And we were buying deals, mostly internet businesses,
