In this episode of Business Buying Strategies, Jonathan talks with John, a mastermind and inner circle client who has rapidly built a group of six businesses from the ground up, achieving an impressive £2.5 million in annual revenue.
John shares his journey from having no business buying experience to completing multiple acquisitions, detailing the lessons he's learned along the way.
Key topics include the importance of trust and good instincts in negotiations, maintaining strong deal flow, managing fee increases, creating a competent management team, and effectively engaging with newly acquired practices. John also discusses the strategic decisions behind his retirement project and offers invaluable advice for aspiring business buyers.
Key moments
01:28 John's Journey: From Novice to Successful Business Owner
02:01 Lessons from Discovery Calls
03:38 The Importance of Deal Flow
04:18 Managing Emotions in Business Deals
04:53 John's Background and Motivation
06:10 Key Lessons in Business Acquisitions
08:59 Challenges and Successes in Acquisitions
15:57 The Role of Management Teams
19:48 Geographical Considerations in Business Expansion
20:29 Geographical Considerations in Business Acquisitions
20:50 The Importance of Strong Management
21:12 Family Dynamics in Business
22:08 Building a Reliable Management Team
22:43 Financial Management and Cash Flow
24:29 HR Challenges and Solutions
27:02 Lessons Learned from Business Acquisitions
28:06 The Importance of Early Engagement
30:26 Rebranding and Integration Strategies
35:12 Advice for First-Time Acquirers
38:02 The Value of Expert Knowledge
39:03 Conclusion and Final Thoughts
** 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…
Download our free Business Buying Toolkit
https://dealmakers.co.uk/business-buying-toolkit
Join our Business Acquisition FastTrack programme
https://www.dealmakers.co.uk/fast
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 on hello@thedealmakersacademy.com for more information.
