The Emerging Leader Podcast
The Emerging Leader Podcast
Ep. 9 - Quitting Corporate to Buy a Manufacturing Business
Making the Jump: From Corporate Ladders to Owning a Business
In this episode of The Emerging Leader Podcast, I sit down with my life partner—and now business partner—Joe to share the biggest leap we’ve ever made: buying a business and moving to Queensland!
We take you behind the scenes of our journey, from searching for the right business and facing rejection to overcoming financial and bureaucratic hurdles. We discuss the lessons we’ve learned, the challenges we didn’t see coming, and what it really takes to make the transition from corporate life to business ownership. If you've ever thought about taking the leap, or are interested in the rollercoaster ride of buying a business this episode is for you!
01:25 Journey to Business Ownership
02:03 Initial Steps and Considerations
04:36 Exploring Business Listings
06:01 Evaluating Potential Businesses
10:59 Challenges and Red Flags
19:17 Discovering the Perfect Business
36:34 Considering a Move to Queensland
40:37 First Impressions: Visiting the Business
42:06 Meeting the Previous Owners
47:42 Understanding the Contract Process
51:58 Navigating Due Diligence and Finance
55:20 The Importance of Hiring Consultants
57:55 Challenges with QBCC Licensing
01:07:08 The Finance Broker and Bank Meeting
01:14:10 Fighting for the Loan Approval
01:20:45 The Never-Ending Loan Process
01:21:32 Balancing Career and Business Ambitions
01:24:40 The Final Hurdles Before Settlement
01:30:50 The Emotional Rollercoaster of Business Ownership
01:36:15 Lessons Learned and Moving Forward
01:41:20 The Challenges of Relocating for Business
01:44:03 The Rewards of Owning a Business
01:48:15 Reflecting on the Journey and Future Advice
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