The finances of your target company might look amazing, but other factors in the business can impact your long-term success once you take over. The purpose of due diligence is to uncover whether your target business has the capacity to maintain profitability and even grow under new ownership—which means you have much more to learn about than just finances. Think operations, customers, and industry, just to name a few.

I collaborated with the Acquiring Minds podcast to moderate a panel on the life-changing potential of buying a business as a Black entrepreneur. Bakari Akil, Bruce Vann, and Chris Munn joined me to discuss each of their journeys to buying a business and securing the kind of financial freedom that they always hoped for.

Those new to entrepreneurship through acquisition (ETA) sometimes overlook the importance of pleasing the seller, and a strained relationship becomes the downfall of their deal. Avoid this outcome by attending to the seller from the outset. Try these five strategies to begin building a mutually beneficial relationship.

SMB podcasts tend to take a more informal approach and offer real-world deal stories that reveal what this world is really like. Plus, they’re totally free, so you can learn all you want at your own pace.

I’ve had the pleasure of joining several of my SMB colleagues on their podcasts. Here are my top 10 SMB podcasts that I would recommend to any self-funded searcher.

Negotiations are often the last hurdle you need to clear before your target business becomes yours. By the time you reach this stage, you have researched the company, gotten to know the seller, and wrapped your mind around operations. Through the process of due diligence, you’ve uncovered information that alters your initial impression of the deal. Now, it’s your opportunity to utilize what you have learned to negotiate the best deal possible.