How to grow a business through acquisition
In this week’s episode of Business Buying Strategies, Jonathan speaks with BBC Apprentice winner and founder of the Millionaire Mastermind, Joseph Valente about the opportunity for business owners to rapidly double the size of their business through acquisition.
In conversation in front of a room of ambitious entrepreneurs, Jonathan explained why 2024 is a year of opportunity for those business owners who want to grow, why it is better to buy a big business for your first deal and how to avoid the pitfalls experienced by many first-time dealmakers.
If you’re a business owner and you’re frustrated or impatient for growth, you need to listen to this episode.
Here are the key highlights:
00:51 - Jonathan’s accidental entry into the world of mergers and acquisitions
01:22 - How Jonathan had an epiphany when he sold his first business
02:14 - Why being the operator in a business is not the best way to get the result you want
02:27 - How to get a great deal when buying a competitor business
04:13 - Why you should never cut corners on your deal team (easily avoidable legal and due diligence issues are so much more expensive in the long run)
04:29 - Why the “Buy, Build and Sell” strategy is the fastest way to achieve your financial goals
04:47 How just one successful deal can transform your business – and your life
05:16 The 3 keep questions to ask when assessing any business acquisition
05:50 The benefits of buying a business similar to your current business
06:38 Why it is important you only buy businesses that can run without you (otherwise you’re buying an expensive job)
07:06 Why you need to follow a business buying strategy that doesn’t use any of your own funds
07:34 How our Mastermind clients have successfully purchased businesses using none of their own money
09:50 Why you need to have a good lawyer to keep a business buying deal moving
10:29 Jonathan’s top advice for anyone looking to start acquiring businesses
19:16 Why you must always be through in your due diligence when buying a business
30:54 Why it’s a good strategy to keep the previous owner on-side (it can get really messy if you don’t)
33:30 How Jonathan helps business owners to acquire the right businesses to grow
Here is what you will discover…
** Looking for a great acquisition lawyer in the UK? Use mine! **
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
Ready to get started?
Here’s how you can start your business buying journey…
Watch my FREE Dealmakers webinar training:
https://www.dealmakerspodcast.com
Get a FREE copy of my book:
https://www.thedealmakersacademy.com/free-book-giveaway
Join the Business Acquisition FastTrack course
https://www.thedealmakersacademy.com/quick
Already bought a business?
if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria at hello@thedealmakersacademy.com for more information.
