@BrentBeshore I made my first SMB acquisition last Spring. Here are a few things I learned from the introduction until now:

1. Understanding the financial statements of a small business can be very different than what is taught in an MBA program

2. The seller isn't telling you nearly the whole story. Sometimes they don't even know the story. Account for that.

3. The business is often worse than the seller will admit and can be improved more than the seller realizes.

4. The employees that have been there the longest don't want to change and don't give a rip about your acquisition. They simply want to continue receiving a paycheck without much hassle.

5. The company competitors have been waiting on a chance to pounce on your key customers. Change of ownership presents that.

6. You'll lose sleep and won't even be able to identify the problem. It's just the pain of owning a business that keeps you up.

7. It's easy to wake up one day and realized you've been around your family but haven't been emotionally engaged in months. You'll drive down to a park during lunch last week and cry your eyes out. Did I just say that out loud?!