0014 - Buying and Running a Business From Another State

In this episode, Tim talks with Brad Cornell, a seasoned entrepreneur and business buyer who brings a no‑nonsense perspective to acquiring and running small businesses. Brad doesn’t sugarcoat the challenges of business ownership—he dives into what it really takes to go from dreaming about buying a business to successfully running one. He shares how his journey reshaped his understanding of financial freedom, why courage and resilience are non‑negotiable, and the mindset shifts that separate successful buyers from those who burn out.

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 – 12:37] Courage Over Comfort

Why buying a business takes “balls of steel.”
Debunking the myth of the “easy buy.”
The emotional and mental prep needed before an acquisition.

[12:38 – 34:59] The True Cost of Freedom

What financial freedom really costs (and why it’s worth it).
Brad’s personal stories of sacrifice and course‑correction.
Setting realistic expectations for your first acquisition.

[35:00 – 57:21] From Self‑Employed to True Owner

The difference between running a job and running a business.
Why hands‑off ownership in year one is a dangerous myth.
Lessons from Brad’s biggest pivots as an owner.

[57:22 – 1:14:45] Building for the Long Game

How to develop a sustainable, growth‑oriented mindset.
Staying engaged without burning out.
Redefining what success looks like beyond revenue.

[1:14:46 – End] Advice for First‑Time Buyers

Brad’s no‑filter advice for anyone considering a buy.
Building resilience when the unexpected happens.
The key relationships that make acquisitions succeed.

Guest Bio
Brad Cornell is an entrepreneur and small business owner who has bought and operated multiple companies. With an unfiltered approach to entrepreneurship, Brad shares hard‑earned insights on courage, resilience, and the true cost of financial freedom.

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.

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Website: https://www.powerofbiz.com

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Tweetable Quotes:

"Financial freedom doesn’t come without a cost." – Brad Cornell
"If anybody tells you buying a business is hands‑off, question them heavily." – Tim Delaney
"Business ownership isn’t autopilot; it’s engagement, every single day." – Brad Cornell