12-Month Roadmap | HedgeStone Business Advisors

You're reading this because you want more control over your income and your time. Owning a business can deliver that. The challenge is knowing exactly where to start and what to do next.

This roadmap is what I wish someone had handed me when I was 21, delivering pizzas, with no money and no connections. It's the same path I've used to help hundreds of people buy their first business.

Mike Steinberg
Founder & CEO, HedgeStone Business Advisors

$500M+

Deals Closed

300+

Businesses Sold

1M+

Followers

Month 1-3

Get Clear

Answer these three questions before you look at a single listing:

1. Buy, build, or invest?

Buy

Acquire cash flow day one (recommended for most)

Build

Start from zero (higher risk, longer timeline)

Invest

Capital only, someone else runs it

2. What role do you want?

Full-time operator? Semi-absentee? Pure investor? Your answer shapes everything that follows.

3. What industries fit your life?

Pick based on interest and tolerance, not just returns. You'll live with this business.

Write down your "why" (what does ownership give you?)
Decide: buy, build, or invest
List 3-5 industries you're curious about
Set a target acquisition budget (be realistic)

Month 4-6

Solve Financing

Deals move fast. Financing can't be what slows you down. There are three main ways to fund your first deal, and most buyers use some combination of them.

Method	What It Is	Requirements
SBA Loan	Government-backed bank loan	10-20% down, 680+ credit typical
Seller Financing	Seller acts as your bank	Negotiable terms
Cash	All upfront	Fastest close, no debt
Combination	Mix of the above	Most common structure

Pro move: Get pre-approved before you start shopping. Deals move fast, and a pre-approval letter makes you a credible buyer in a seller's eyes.

Check your credit score (fix anything dragging it down)
Talk to an SBA lender (learn what you qualify for)
Calculate your liquid cash for down payment
Get pre-approved if possible

Month 7-9

Find & Evaluate

Now you're ready to look at real deals.

Where deals live:

HedgeStone listings (hedgestone.com)
BizBuySell
Broker networks
Off-market (often less competitive, and often where the best deals are)

What matters most in a listing:

SDE (Seller's Discretionary Earnings): your true take-home after adjustments
Multiple: Price ÷ SDE. 2 to 4x is common for small businesses, but varies by industry.
Reason for sale: Retirement is generally a better sign than burnout.
Owner hours: How involved is the current owner, really? Can you replace them?

Create a HedgeStone account and browse listings
Reach out to a broker (they're free to buyers)
Review 10-20 listings to calibrate your eye
Start conversations on 2-3 that interest you

Month 10-12

Execute

You've done the prep work. Now it's time to act. Here's roughly what a deal timeline looks like from first contact to close:

Step	Timeline
Sign NDA, review financials	Week 1-2
Site visit, ask questions	Week 2-3
Submit Letter of Intent (LOI)	Week 3-4
Due diligence	Week 4-8
Financing and legal	Week 6-10
Close the deal	Week 10-12

Submit an LOI on a business you want
Complete due diligence (use a checklist)
Finalize your financing
Close the deal
Become a business owner

Why This Works

Businesses get bought and sold every day by regular people. Most never went to business school. They just followed a system.

I've done this hundreds of times, and HedgeStone has closed over $500 million in transactions. But what matters more than any of that is helping you avoid the mistakes I made starting out.

This is your roadmap. Now take the first step.

HedgeStone Business Advisors | hedgestone.com | (561) 593-3711