In this episode, Tim talks with Milan Nolen, an entrepreneur and business buyer who shares a transparent look at evaluating risk, recognizing red flags, and knowing when not to do a deal. Milan walks through her transition from employee to founder mindset, the early mistakes she made by moving too quickly, and the moments that forced her to slow down and reassess what she was really buying.

She explains how ignoring basic math and operational realities nearly pulled her into a bad acquisition, why non-operating businesses carry hidden danger, and how learning to walk away became one of the most valuable skills she developed as a buyer.

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.

Milan describes the mindset shift required to move from employee thinking to ownership, and why she didn't fully grasp that transition until she was already deep into the process.

How moving too fast, skipping the numbers, and relying on optimism created blind spots that could have led to a costly mistake.

Milan breaks down the moment she realized the deal might be a "dumpster fire," and how recognizing operational and structural issues changed her approach.

Why buying a business that isn't actively operating introduces a completely different risk profile — and why that realization became a turning point.

The emotional and strategic challenge of stepping back from a deal, even when the desire to buy is strong.

Milan's key takeaways for buyers evaluating their first acquisition, including patience, discipline, and respecting what the numbers are telling you.

Milan Nolen is an entrepreneur and business buyer who focuses on disciplined deal evaluation, risk awareness, and long-term sustainability. Through her experience navigating potential acquisitions, she emphasizes the importance of math, operational clarity, and the confidence to walk away from deals that don't make sense.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Instagram: @milanterez
TikTok: @milanterez
Website: milantereznolen.com

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

"Either this is a complete dumpster fire, or there's a deeper reason here." – Milan

"I still want to buy a business — I just don't think this is the one to do it with." – Milan

Return on investment (ROI) is often treated like a simple spreadsheet calculation — but in small business acquisitions, it's much more than just a number. In this episode, Tim breaks down the real difference between ROI and cash-on-cash return, how leverage changes outcomes, and why focusing only on percentages can lead buyers to make bad decisions. Using practical examples, Tim explains how time, effort, risk, and financing all factor into evaluating whether a deal is actually worth pursuing.

Tim Delaney 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 – 02:30] ROI Is More Than a Spreadsheet

Tim explains why ROI shouldn't be viewed as just a financial formula, but as a broader measure of freedom, risk, and opportunity cost.

[02:31 – 06:15] What ROI Really Measures

Breaking down how ROI is calculated, what it includes, and why purchase price matters more than most buyers realize.

[06:16 – 12:45] Cash-on-Cash Return Explained

How cash-on-cash return works, why leverage dramatically changes outcomes, and how financing can increase early returns.

[12:46 – 18:30] Leveraged vs. Unleveraged Returns

Comparing all-cash purchases to financed deals and explaining why cash-on-cash returns are often much lower in pure cash acquisitions.

[18:31 – 26:40] Real-World Business Example

Walking through how owner pay, debt paydown, and equity growth affect actual cash coming back to the buyer.

[26:41 – 34:50] Comparing ROI Across Investments

How small business returns stack up against stocks, bonds, and real estate — and why business ownership should demand higher returns.

[34:51 – 42:30] Time, Effort, and Risk

Why there is no universal "good" ROI number, and how stability, workload, and industry risk should shape return expectaions.

[42:31 – End (~45:00)] Final Thoughts

Why ROI is only one part of the decision-making process and how buyers can avoid chasing.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Connect with Tim and the community:
Website: https://www.powerofbiz.com
YouTube: https://www.youtube.com/@powerofbiz
Instagram: @timtdelaney
Threads: https://www.threads.com/@timtdelaney
LinkedIn: linkedin.com/in/timothytdelaney
Facebook: facebook.com/timtdelaney

Tweetable Quotes:

"ROI isn't just a spreadsheet formula — it's also a freedom calculation." – Tim Delaney

"Cash flow and profit are not the same thing, especially when debt is involved." – Tim Delaney

"There is no single ROI number that works for every business or every buyer." – Tim Delaney

In this episode, Tim talks with Tiffany Kao, an entrepreneur and creator who shares a candid look at what it really takes to bet on yourself, and the mistakes that come with it. Tiffany opens up about quitting her job early in her journey, the pressure to "burn the boats," and how that decision forced her to learn hard lessons about sustainability, timing, and resilience. She reflects on how her definition of success has evolved, why confidence without preparation can be dangerous, and how experience reshaped the way she approaches risk, growth, and long-term stability.

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.

Tiffany shares why she quit her job early, the mindset behind "burning the boats," and why she now believes timing and preparation matter just as much as courage.

The realities of entrepreneurship after leaving a steady paycheck, early missteps, and how pressure can accelerate growth — or expose cracks fast.

Why believing in yourself isn't always enough, how overconfidence can backfire, and the systems Tiffany wishes she had built sooner.

How Tiffany's view of freedom, income, and sustainability evolved as she gained experience — and why stability matters more than proving a point.

Tiffany's advice for anyone considering quitting too early, what she'd do differently now, and how to approach risk with clearer eyes.

Tiffany Kao is an entrepreneur and creator who shares honest insights about the realities of self-employment, risk-taking, and personal growth. Through her experiences leaving traditional work and navigating entrepreneurship, she emphasizes thoughtful decision-making, resilience, and redefining success on your own terms.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

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

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

"I promptly quit my job — which, by the way, is highly not recommended — but I was young and strong-headed, and somebody had given me the speech about how you need to burn your boats." – Tiffany Kao

"Confidence without preparation can put you in a really tough spot." – Tiffany Kao

"Looking back, I would've timed my leap very differently." – Tiffany Kao

In this episode, Tim breaks down a real-world post about a struggling food business where the seller is trying to recover build-out costs despite little to no profit and a long-term, expensive lease.

Tim explains why this situation is a textbook example of the sunk cost fallacy, why buyers often confuse assets with value, and how leases, franchises, and zero cash flow can quietly turn a "deal" into a long-term financial burden. He also discusses the difference between running a healthy business and trying to turn around a failing one—and why most buyers underestimate that gap.

Tim Delaney 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 – 02:15] Is a $200K Build-Out Still Worth $200K?
Tim opens with a simple but critical question: if a business isn't profitable, does the money spent building it out matter at all?

[02:16 – 05:00] Breaking Down the Original Deal
Reviewing the details of the post: a struggling food business, $6,000 monthly rent, long-term lease, franchise involvement, and no meaningful profit.

[05:01 – 06:45] You're Not Buying a Business
Why this deal is really about taking over a lease and a space—not acquiring a functioning business.

[06:46 – 08:30] The Sunk Cost Fallacy Explained
What sunk costs are, why sellers fixate on them, and why buyers should never pay for money that's already gone.

[08:31 – 10:20] Lease Risk and Personal Guarantees
How long-term leases, rent obligations, and personal guarantees can quietly become the biggest threat to a buyer.

[10:21 – 12:30] What Is This Business Actually Worth?
Why a business with zero cash flow has little to no value, and why used restaurant equipment usually sells for pennies on the dollar.

[12:31 – 14:40] Franchise and Legal Red Flags
Potential issues with rebranding, franchise agreements, and trademark risks that buyers often overlook.

[14:41 – 16:30] Don't Pay for Someone Else's Mistakes
Why turning around a failed business requires a very different skill set—and why confidence alone isn't enough.

[16:31 – End] Final Thoughts
Cash flow is king. Without it, even a "great location" and expensive build-out can't justify a bad deal.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Connect with Tim and the community:
Website: https://www.powerofbiz.com
YouTube: https://www.youtube.com/@powerofbiz
Instagram: @timtdelaney
Threads: https://www.threads.com/@timtdelaney
LinkedIn: linkedin.com/in/timothytdelaney
Facebook: facebook.com/timtdelaney

Tweetable Quotes:

"Money already spent does not equal value." – Tim Delaney

"If a business has no cash flow, it isn't a business—it's a liability." – Tim Delaney

"Confidence doesn't fix bad numbers." – Tim Delaney

In this episode, Tim talks with Mike Webster, an operator-turned-owner who spent years working inside a company before eventually buying it himself. Mike shares how his time as an employee shaped his understanding of the business, what he saw behind the scenes that made him consider ownership, and the complicated emotions that come with transitioning from worker to buyer.

He also opens up about evaluating whether growth is worth the cost, dealing with burnout, and the mindset shift required to separate personal identity from the business you run.

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 – 12:30] The Growth Dilemma & Becoming a Key Operator

Mike explains the contradiction of growing the business even though it would raise the price he'd eventually have to pay for it, and how he became the de facto operator running the company day to day.

[12:31 – 25:00] Early Career, Sales, and Learning the Business

Mike shares how he got into the industry, his early sales experience, the mentors who pushed him forward, and how he learned the operational side from the inside.

[25:01 – 38:00] Friction With the Owner & Stepping Into Leadership

How responsibilities shifted as the business grew, the strain of carrying more weight without ownership benefits, and the point where Mike realized he needed to make a move.

[38:01 – 52:00] Preparing for a Buyout & Understanding Real Valuation

Mike breaks down the moment he recognized he was effectively running the business, how he evaluated its value, and the internal debate over whether growth was worth it.

[52:01 – End] Burnout, Identity, and Deciding What Comes Next

What Mike learned about separating himself emotionally from the business, avoiding burnout, and how he approached the decision of whether to buy the company he helped run.

Guest Bio
Mike Webster is an experienced operator who deeply understands the challenges of running and scaling a business from the inside. After years of managing day-to-day operations, he began evaluating whether purchasing the company he worked for made strategic and personal sense. His journey highlights the realities of growth, burnout, valuation, and the mindset shifts required when transitioning from employee to prospective owner.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Connect with Tim and the community on social media for more tips and updates:
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

Tweetable Quotes:

"Am I really going to grow something… just so I can pay more for it?" – Mike Webster

"You can't let the business define who you are — that's when everything starts feeling heavier than it should." – Mike Webster

"Sometimes the best decision isn't scaling — it's stepping back to understand what you actually want." – Mike Webster

In this episode, Tim talks with Anthony Atiase, husband, father, serial entrepreneur, and co-owner of a janitorial company in South Carolina. Anthony shares how his upbringing across Ethiopia and Ghana shaped his entrepreneurial spirit, why he and his wife pursued business ownership while keeping their day jobs, and how they bought and financed a recession-resistant cleaning company.

He also opens up about the search process, negotiating with brokers and sellers, and how creative financing (including investors and seller financing) made the acquisition possible.

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, Bigger Pockets Rookie, and The Freedom Chasers Podcast.

[00:00 – 13:00] From Ghana to South Carolina
Anthony's upbringing, watching his mom hustle as an entrepreneur, and why he turned to business ownership.

[13:01 – 26:00] Criteria & Search
How Anthony and his wife defined "recession-proof" criteria and searched for the right business on BizBuySell.

[26:01 – 41:00] Meeting the Seller & Financing the Deal
The role of trust-building with the seller, how multiples were calculated, and the creative financing mix that closed the deal.

[41:01 – End] Transition & Lessons Learned
What it felt like to take ownership, cash flow on day one, and advice for first-time buyers balancing day jobs.

Guest Bio
Anthony Atiase is a husband, father, serial entrepreneur, and co-owner of a janitorial company in York County, South Carolina. With a background in project management and a passion for building businesses, Anthony and his wife sought out a recession-resistant company they could grow while still working their day jobs. Through persistence, research, and creative financing, they acquired a cleaning business that provides steady income and long-term potential.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Connect with Tim and the community on social media for more tips and updates:
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

Tweetable Quotes:

• "We wanted a business that was recession-proof, local, and profitable — and we wrote that down before we even started searching." – Anthony Atiase

• "You don't need a background in the industry. You can learn as you go, as long as you bring persistence and curiosity." – Anthony Atiase

• "Seeing cash flow hit our account the day after closing was an eye-opener — this is why you buy, not build from scratch." – Anthony Atiase

Merchant cash advances (MCAs) are marketed as a quick fix for business owners in need of fast funding — no credit checks, no waiting, and no collateral. But beneath the convenience lies a dangerous financial trap. These advances often come with sky-high effective interest rates and aggressive repayment schedules that can strangle your cash flow. In this episode, Tim breaks down exactly how these offers work, why they're so tempting, and what smarter, safer alternatives exist for small business owners.

Tim Delaney 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 – 02:20] The "Offer You Can't Refuse"
Tim opens with a real-world scenario: a lender offers $50,000—no credit check, no waiting, no hassle. But there's a catch… you owe $70,000 in just a few months.

[02:21 – 05:10] What a Cash Advance Really Is
Explaining how merchant cash advances (MCAs) work, why they're so appealing at first, and how their effective interest rates can skyrocket past traditional loans.

[05:11 – 08:30] The Hidden Dangers
How repayment schedules (daily or weekly) crush cash flow. Why do owners feel trapped even when revenue looks steady?

[08:31 – 11:00] Smarter Alternatives
From SBA microloans to seller financing and lines of credit—options that build sustainability instead of short-term relief.

[11:01 – End (~13:00)] Final Thoughts
Understanding the real cost of "fast money" and how business owners can keep control of their cash without compromising future stability.

If you found value in today's show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

Connect with Tim and the community:
Website: https://www.powerofbiz.com
YouTube: https://www.youtube.com/@powerofbiz
Instagram: @timtdelaney
Threads: https://www.threads.com/@timtdelaney
LinkedIn: linkedin.com/in/timothytdelaney
Facebook: facebook.com/timtdelaney

Tweetable Quotes:

"These cash advances can be convenient, but they come with a price." – Tim Delaney

"What starts as short-term relief can turn into a long-term problem." – Tim Delaney

"When you understand how the money moves, you realize that quick cash usually costs the most." – Tim Delaney