Business Buying Strategies from The Dealmaker's Academy

Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week we meet my mastermind client, Danny Beaumont, who has bought a number of manufacturing businesses without spending a penny of his own money. Plus he only works ten hours a week and spends twice a week playing golf. Here's Danny in front of a live audience at one of our DealMaker Live events. Key Highlights [01:14] Danny discusses his career before business buying [03:40] Choosing a sector [07:40] Danny's role in the business [08:30] The first deal [12:16] The next deal [15:22] The role of a parent company [18:56] The retirement acquisition [20:17] The size of the business you buy [22:09] The easiest deal so far [28:25] Establishing a group [33:40] Audience Q&A Notable Quotes We monitor our pipeline, how big it is in total, our win rate. So even if we have a quiet month in order intake, if we're quoting loads then a certain number are going to come straight. They said, well, we've got an invoice filing facility, but I've never fully utilised it. I thought, oh, that's interesting, because we could potentially use some of that to buy the business I said, sorry Jim, but the deal's not going ahead so I can't offer you a job. And he said, well the guy I'm working for now is thinking about getting out, so how about I put you in touch? Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week we go behind the scenes of July 2023's Dealmakers Live event held just outside London. I talk with David, who was on my mastermind program back in 2019. David bought seventeen businesses, built the business group up to over £20 million of annual revenue, and he's just done a deal selling it for an eight figure sum. This is his story and how he did it. Key Highlights [01:29] David's background [02:46] David's first acquisition [05:19] Discovering the podcast and joining Jonathan's programme [06:52] Learning from others on the programme [09:07] Building his management team to enable him to focus on new acquisitions [12:05] Approaching a big corporate [14:45] Negotiating the sale [16:40] How David filters potential acquisitions and builds his pipeline [22:27] David's advice for new dealmakers [25:25] Looking to the future Notable Quotes And I drove many miles up and down the motorway, because I was the integration guy, I was the IT guy, I was the chief exec, I was the HR director. So your knowledge, your skillset and your confidence level have got to stay in line. I discovered Jonathan's podcast and started episode one and just listened for hours and hours on the motorway. And it was like the scales had been peeled from my eyes. Learning from other people on the mastermind group allowed me to do 14 more acquisitions over the course of three years. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week I talk with Hari Krishnadasan, one of my mastermind clients. Hari bought a business a few years ago, but didn't actually realize that it was going to be his strategy going forward. And when he bought two more businesses during the COVID period, in a completely different sector to the one that his background and experience is in, he realised that business acquisition was the right strategy for him. This is his story. Key Highlights [01:26] Hari's background [03:35] The first acquisition [[05:12] The effects of Brexit and COVID [05:50] Finding Jonathan and discovering a different approach to M&A [08:36] Choosing an entirely new sector [13:02] Plans for the future [19:18] Hari's advice for would be dealmakers Notable Quotes I'd say do something that interests you and that you've got some knowledge of, because if you've got no interest in it, I don't think it'll work. You've got to have a passion to go for it, to follow the process it's really a completely different way of doing things - you've got to work on the business, not in the business. So it's almost like people have to hear it multiple times before they go, Oh, right, so this is real. And I just thought, well, look, let me diversify and look at something completely different. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Every week I interview someone from the world of mergers and acquisitions so we can find out their approach to buying businesses. This week I talk with Bill Snow, author of M&A For Dummies, one in the famous yellow series of books. Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who've been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course. You can find it at www.dealmakerspodcast.co.uk Key Highlights [01:33] Bill Snow introduces himself [03:10] Working on the sales side for an investment banker [06:26] Bill's dummies approach to buying a business [11:22] Going direct to the seller [13:30] Bill's favourite negotiating approaches [19:43] Profitability vs perceived value [22:05] The strategic imperative [25:01] The perfect company? Notable Quotes It is hard to stand out as a buyer. You got to realize everybody is saying the same thing. So if you really want to buy a company, you got to realize how much competition you have when you're buying a company Use your personality because a big part of winning these mandates is the personality. Pay attention to the working capital in the business and what's going on with the working capital, understand what you're acquiring.It's the take it or leave it. It's not thinking through what the other side might react to or what they might respond Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we meet Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He's already sold four of them and has an ambitious target to do 100 deals. Darren bought his first salon for his daughter, a qualified hair stylist, in May 2020. But when he started sending enquiry letters out, he quickly built a pipeline of potential acquisitions. Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who've been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course. You can find it at www.dealmakerspodcast.co.uk Key Highlights [01:47] Why the switch from IT group to salons? [05:50] The criteria for selecting salons to buy [07:40] Opening twenty salons at once after lockdown [10:50] Financing the acquisitions [16:45] Motivations for salon owners to sell their business [18:35] Overview and structure of the salon group [21:05] What has Darren learned? [25:40] The acquisition strategy moving forward Notable Quotes In comparison to buying an IT business, buying a hair salon was ridiculously easy. In June 2020 we sent out a bunch of letters, about 1500. We had just over 300 people contact us from them. We've had to do a lot of work on consolidation and integration. I tell people that we've got a lot of salons, we're not that interested in buying many more at the moment, but if it works for us, we'll take a look at it. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jo Bell joins us to talk about her business acquisition journey and the lessons that she has learnt. We talk about how being a doer impacts the business and how it can affect your next acquisition. Jo explains that looking at deals as pure numbers can be extremely helpful when you are not sure what a business is worth. She also discusses some of the ways sellers sometimes lie about deals or place too much emphasis on things that really don't matter in terms of pricing your business correctly. Jo also shares some words of advice to potential business buyers. Key Highlights [01:42] Jo's interesting business acquisition [02:38] Impacts of being a doer in the business [09:04] Do you feel that people believe in you? [10:20] Driving the business and getting onboard with the structure [11:51] Buying the perfect business [12:34] What was the next deal? [15:09] Perfect way of earning money without spending yours [20:51] Business sellers fabricating customer lists [23:03] What business buyers should look for when buying a business [24:12] Seeing deals in factual numbers [27:27] Balancing positive personalities and realities of business buying [31:40] Things that business sellers don't tell you [32:53] How do you keep yourself positive [37:06] Advice to people thinking of buying a business [40:25] Bell's next plans Notable Quotes I think learning for me is just to do a lot more due diligence actually because I think, where I'd always gone for the model of buying goodwill and assets, not companies, I didn't see the need to do as much goodwill. Over the years, I've become a lot more selective; you know, I've realized that there are a lot of practices out there for sale and many businesses for sale. And it's more about the ones who say no than the ones who say yes, whereas maybe previously, I just saw everything as an opportunity. You know, I'm a fixer. So I enjoy the challenge of fixing something, but you then have to question why, you know, when there's stuff there that doesn't need fixing, maybe just needs tweaking or just improving. No matter whether you're buying goodwill and assets or companies do that, due diligence and an accountant can help. So I think, first and foremost, its profitability. That's ultimately the reason why we're all doing this. So you want to ensure that if it's not profitable, now, you sure as hell know how you'll get it profitable. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this week's episode, Jonathan Jay interviews Phil Hunt, a private client who recently acquired two hairdressing salons using the strategies learned from the Dealmakers Academy program. Phil, an HR director in a bank, wanted to move away from full-time employment and found Jonathan's program the perfect solution. He shares how the program gave him the confidence and tools to approach acquisitions and completed two deals quickly. The episode dives into Phil's experiences negotiating with sellers, using creative funding techniques, and building relationships to make the deals happen. With his successful start, Phil discusses his plans to grow the group and potentially move into other sectors in the future. Key Highlights [00:50] How Phil's first acquisition came about [03:51] Key insights that Phil had while participating in the Fast Track program [05:00] Some of the conversions that Phil has had while deal sourcing [08:20] The conversations that Phil had before landing the perfect business [11:25] How Phil undertook the deal [12:25] How Phil negotiated with the landlord [14:05] How the second deal happened [16:32] Benefits of having a sounding board [18:13] Phils plans for the future [21:21] How Phil navigates varying levels of perfectionism between his HR role and business acquisitions [22:12] What happens next after the successful exit arises [24:04] Phil's words of wisdom to people interested in buying a business Notable Quotes Just do it. Just go out there and do it. What on earth have you got to lose here? And there's nothing you can lose effectively as that. I think, and you've said it, you said on your course, it's about people, it's about building a relationship with the vendor, and they need to trust you, and you need to trust them. And if you can't build that, the deal won't happen. But if you can, they find a way to make the deal happen. Don't sweat the details. It doesn't matter if the letter's not perfect or the address is slightly wrong, there'll be 95 of the hundred that are correct, and a number of those will ring you. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay interviews John Richardson, an expert in the coffee shop sector. John has been involved in numerous coffee shop acquisitions and in building coffee shop chains through acquisition. They discuss the current state of the coffee shop market, particularly following the pandemic, and the differences between business owners and entrepreneurs in this industry. John highlights the opportunities in neighborhood coffee shops and the potential for community-centered coffee shops with added services like yoga classes or meeting rooms. They also explore the importance of having clear processes and management systems for successful growth in this sector. The episode concludes with John offering valuable advice for those considering buying a coffee shop business, emphasizing the need for careful analysis and understanding the complexity of running a coffee shop effectively. Key Highlights [00:50] About John Richardson and what he does [03:02] The distinction between being a business owner and being an entrepreneur [03:40] Different approaches for people in the food and beverage businesses [05:35] Challenges posed by lease agreements for food business owners [08:27] The criteria for a successful acquisition in the food and beverage [14:20] Different versions of coffee shops, according to John [16:15] Benefits of increasing average transaction value and using add-ons in coffee shops [17:19] The exit strategy for someone with a chain of coffee shops [21:58] The importance of creating and following processes in business [24:04] John's words of wisdom for people looking to invest in the coffee industry [25:21] What people should know before getting into the coffee industry Notable Quotes So you can set the value of a new company that then controls that at whatever level you want. You could set it at a hundred pounds; You could set it at ten grand. And then all the new partners come in, and they put in that amount of money. And then, you go to the bank to fill in the rest of the gap as long as one of the original parts pays the partner who's either staying or leaving. It's very hard to fight the ego of more locations because that's just, I can remember when we would get the business cards, and our big excitement was putting more, putting a cringe at it. Now, this is 25 years ago, but the excitement was getting new business cards with your new, with your new location. Yeah. Rather than the excitement of sitting down and going, we are going to have a process for everything. The opportunity is bigger than ever because people will sit in coffee shops. We were doing it 150 years ago. We will do it 150 years today. It'll be slightly different, better coffee, or whatever. And maybe some form of robot stuff will happen in terms of the, but this piece is what it's all about. If you don't know what you're doing, yes, and you think it's going to be easy, don't do it. Or have somebody who genuinely knows what they're doing. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay interviews successful entrepreneur Nick Manuel, who shares his journey of buying and building businesses. Nick started his entrepreneurial journey by attending Jonathan's course and listening to this podcast. He explains how he acquired a balloon printing company and turned it into a lead generator for his existing business. Nick shares valuable insights into his acquisition strategy and the importance of taking action, not overthinking, and focusing on deal flow. He also discusses his plans for further acquisitions and the potential for significant business growth. Tune in for Nick's business buying journey. Key Highlights [00:46] Nick's background [01:49] How Nick undertook his first deal [03:57] How Nick agreed on the price [05:59] How John Andrews helped Nick with his first acquisition [07:05] The benefits of acquiring a business with finance-free assets [09:53] How Nick knows that he is being realistic with himself [11:26] How Nick found the upcoming deal [12:05] Steps followed by Nick to agree on the price [15:43] Benefits of viewing business acquisitions as strategic opportunities [16:56] What Nich has learned from being part of the Mastermind Group [18:38] Benefits of quickly integrating the acquired business into the existing one [19:29] Nick's word of wisdom based on his experience [22:19] What has changed from when Nick met Jonathan] [22:43] Common trait among successful business acquirers Notable Quotes One thing is getting going and not spending a week thinking about it, not taking a week to think about it. No. And yeah, I suppose being quite aggressive with the negotiation and your terms. If they're that desperate, it's your terms, or you walk away, that's it. There's no messing around with their comebacks on not wanting certain warranties and things in the contract. You have to enjoy the process. Like you say, what's the worst thing that can happen? And once you start doing it, you realize it's not scary. It's fun. You have to get on and do it. As you grow, putting a solid team in place is the main thing. And I suggest trying and scribbling on salaries sparingly because you want people coming in from where you want to be, not where you've been. The main stumbling block I had originally was around the letters and overthinking. You've got to start sending them out. Yes, they have a cost to them, but you've only gotta find one deal, which is completely irrelevant. You can be the visionary, the leader, and the guy that goes out finds the deals, and needs someone behind you who's, uh, implementer. But you can hire that person, pick up the pieces, and do all the operations. Yeah. I couldn't do what I'm doing now at the size I'm doing it if I was doing it myself. I just couldn't. I remember sitting there like you guys when I was sitting there, and you just go away, send the letters out, and have the conversations. Some people put the phone down, and some won't, and then you just end up laughing, and you just go out there and take action first, and the rest will fall into place. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay interviews Sam Turner, a former professional footballer turned dealmaker. Sam shares his journey from a successful corporate career to his decision to buy businesses. He explains how he found his first acquisition through networking and discusses the importance of credibility and clear focus in the acquisition process. Sam emphasizes his philosophy of maintaining autonomous business units within a group and avoiding trying to oversimplify back-office synergies. Key Highlights [00:44] Sam's background [04:34] What Sam did after the Zoom course [07:34] Factors to consider when deciding on the type of business to buy [09:14] The role of credibility in a business venture [12:14] How Sam undertook his first deal [14:00] How networking can aid in getting deals [15:20] Time frame between first contact with the business owner to owning it [18:40] How Sam got access to a lender [22:14] How too many changes can lead to a decline in the value of a business [24:05] Sam's plan for the future Notable Quotes In the beginning, when you haven't done this for the first time, there is a credibility piece that is helpful to have somebody. Whether there's that, there will be best practices and stuff, but I'm not going to, probably not at least at the beginning, or let's merge all the back offices together. We may end up going down that road, but it will be because of a discussion with each of the sort of balances and the business. The money is secondary to me, and I also have very clear plans of what I would do with that to help others. But I think there is a great opportunity you have to work out whether it's for you or it's not. And if it is, then go for it. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan talks with Richard Bundock, a successful entrepreneur who shares his journey of buying and growing businesses. Richard's story begins with his early entrepreneurial ventures, when he sold stick-on tattoos at school. He recounts his experience making three successful acquisitions, detailing the differences between asset and share purchases. Inspired by his success, Richard plans to make around 18 more acquisitions to become one of the top five independent agency groups by 2026. He encourages listeners to take risks and push forward in their acquisitions, reminding them that time is precious and that they should seize opportunities to create positive change. Key Highlights [00:44] Richard's background [01:21] How Richard got into entrepreneurship [02:53] The nature of organic growth [04:46] The sector that Richard specializes in [06:24] The most stressful deal for Richard [09:46] The difference between asset and share purchase [11:36] Richard's plan for the future [15:30] The commonalities learned from fellow entrepreneurs [16:18] Advice to people interested in buying a business but have not made the first step Notable Quotes I think the main thing is that you have to kiss a lot of frogs before you find your prince, which is the classic thing. You got to put the work in to get the result. And we've done that. And we've made three acquisitions this year; that has been something that has turned things around. I think sitting around and talking in a group appears with others that have made acquisitions as well. You start to realize that the only thing holding you back is yourself. Doing a good acquisition is feasible. It's just how hard you are prepared to push and work to get that done. I think they need to get an uncomfortable fence because they're too comfortable sitting on that fence. They put cushions on it and everything, and they need to get a little bit uncomfortable. And they need to realize that if they're sitting on the fence, stuff is just happening around them, and they're not going to move forward, they're not going to get anywhere because they're going to stay on that fence. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week Jonathan talks with Akram Abdullah, who started a successful insurance brokerage with his brother, fell out of love with it, and sold it. Then, in the space of just eight months he acquired a commercial cleaning business, fixed it, and then sold it to the manager he had recruited to run it for him. Key Highlights [01:05] Akram talks about his career to date [01:48] Deciding to sell his insurance broker business [03:30] Deciding to acquire a business rather than start a new one [04:20] What sort of business was Akram looking for? [06:00] The first meeting with the seller [07:20] How the negotiations for the deal went through [12:30] The fixes that were needed [15:40] Selling the business on [20:20] Tips and advice for would-be business buyers Notable Quotes And then all of a sudden I've got a business and this recurring revenue that I had been so interested in, I could now see it coming through. The most important thing is the seller's motivation. That is crucial. So for me, I don't believe I will ever start a business from scratch again. I would only look to acquire. You need to do it. It's as simple as that. You need to take that first step. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay interviews Aled Davies, who runs a clothing and textiles printing business. Aled shares his journey of seeking organic growth for his family business, facing challenges such as a fire and the pandemic. Inspired by the podcast, Aled explores the acquisition route and becomes one of Jonathan's clients. He shares how he completed his first acquisition of a smaller business and seamlessly integrated it into his existing company, leveraging the acquired website, customer base, and sales opportunities. He also shares some of the tips he has acquired along the way. Key Highlights [00:45] About Aled Davies [01:21] How Aled got into business [04:16] How the Podcast motivated Aled [05:00] Lessons learned after joining the fast-track program [06:09] How Aled handled his first call [08:09] How the negotiations for the deal went through [15:05] The kind of due diligence one can do when buying a digital marketing company [19:11] Tips learned by Aled along the way Notable Quotes I had feedback and stopped because I didn't add for whatever you guys didn't fully commit to. But once you fully commit to it, there's no reason why if a deal doesn't feel right or it doesn't look, it will not be right for you. You can always walk away if you don't want to do it anyway. Get started and give it a go. But you never know what's going to come upon it. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week Jonathan talks to Chris Stone, a hearing healthcare specialist based in Glasgow. Chris is a client of Jonathan's, and having already bought one competitor, he is now on the hunt for further acquisitions. In fact, right now he is the fastest growing hearing healthcare provider in Scotland. The conversation begins with how COVID has affected the business. Key Highlights [01:14] The effects of the pandemic [02:40] Setting turnover targets [03:36] The first acquisition [12:00] The role that peer groups can play [14:54] Possible additional acquisitions [19:10] Structuring the next potential acquisition [22:52] The strategy moving forward [24:05] Advive for new business buyers Notable Quotes Very quickly after we had hit heads of terms with that first acquisition, we got approached by another two or three businesses to sell to buy them out So we took that business on eight years ago. We got it to a million turnover. It took us four and a half, five, four and a half years to get 10 million turnover And I think if things keep going the way that they're going, we've probably got a strong enough management team now structure offering that we can start growing organically very quickly With five years of history behind it, management team in place, And I just thought, if they can do it, I can do it Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week Jonathan talks with Ray Burke, who started a business in the transport and haulage sector which he grew to a £500,000 turnover operation after six years. However, after three acquisitions in eighteen months, he has increased his group business turnover to £3.4 million. Key Highlights [01:26] Ray Burke's business background [04:21] How Ray looked for and shortlisted potential business to buy [05:05] Ray's first acquisition [12:01] What has changed for Ray since the first acquisition? [13:10] The second acquisition [18:20] The third acquisition [20:58] The mindset of running a group rather than a single business [27:05] What advice would Ray give to new business buyers? Notable Quotes So I structured a deal that I could use invoice, finance and cash in the bank to make that completion payment. If you want to buy a business you need to try and buy five, and then you might end up with two or three maybe if you're lucky. So the benefit of being the owner of a larger group is that you've now got a bigger team to do the strategy and operational stuff. So I suppose with growing the businesses and adding locations, sometime next year I'll be at 5 million turnover. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay is interviewed by Greg of the Empire Flippers Podcast, and they talk about the complexities of structuring deals and provide valuable insights into the world of acquisitions. Jonathan and Greg discuss the importance of looking for the right characteristics in an acquisition target. They talk about ensuring a smooth transition by having a management team in place. They recommend targeting larger, established businesses with positive cash flows for greater profitability and financing ease. They also discuss ways to increase business valuation by making oneself redundant, making it more attractive to potential buyers. They explain the no-money-down approach, particularly in situations with limited funds, and shed light on leveraged buyout strategies. Mitigating financing risks is addressed, with Jonathan advocating for acquiring businesses with positive cash flows to support debt and cautioning against distressed businesses. Key Highlights [01:46] How Greg met Jonathan Jay [03:36] A brief background of Jonathan and what he does [05:59] Structures and systems Jonathan would put in place if he was to buy 48 businesses again [08:16] Characteristics to look out for in a business [09:00] The importance of having the right management team [11:11] How Jonathan's strategy is different from others [14:29] How Jonathan structures LBOs [15:25] Why buying distressed businesses is a trap for newbies [23:55] How Jonathan exited the nursery schools [29:31] The letter system for finding retiring business owners [32:29] Common mistakes that people make while buying businesses [35:50] Businesses that are hard to finance [38:30] Best advice ever received by Jonathan [40:16] How to connect with Jonathan Notable Quotes The ideal business to buy always has management in place already. I always tell people to go for the bigger businesses because you'll make more money, they're easier to finance, they're easier to buy, and they run themselves better. They don't need you. Making yourself redundant in your business is the fastest way to increase value. And it just makes your business easier for someone to buy from you. A beginner should be looking for a business that has made money day in and day out for the past five years, has predictable cash flows, can support any debt you put into the business, and still has enough profit to take money out. Buying a business is not about the business you will own but the person you become. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week Jonathan talks with entrepreneur, Phil, about the extraordinary story of his first major business deal. He recounts how his life transformed following the deal, sharing the personal and professional growth accompanying this monumental achievement. Phil reveals people's common mistakes during the early days after an acquisition, and offers valuable insights to help aspiring entrepreneurs navigate those challenging initial stages. Key Highlights [02:30] How Phil got his first deal [05:51] The scope of the business bought [06:33] What Phil was doing before the deal [10:37] The origin of the deal [14:02] Deals lined up for Phil [19:13] How Phil's life changed [20:56] Mistakes that people make in the early days [24:43] Phil's attitude to getting deals done [26:20] The benefits of being personable to people Notable Quotes You've just got to realize that you only get one life. Nobody knows how long you've got left. So you've got to love your life the way that you want. Be a doer and not a thinker. You've got to be personable to people. You can email them offers and stuff like that because when you think about it, these people have been in these businesses for all these years. You've got to make it personal for them. You cannot take shortcuts. Invest in yourself, guys. Whether it's personal development whether it'd be doing these courses, you will get so much more value. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we meet James Gardner, who was a guest at my Dealmakers Live event in January. Now, James has been on the podcast before, but I wanted to catch up with him to find out what he's been doing. After explaining how he became attracted to the world of mergers and acquisitions, James outlines his plans for scaling up his acquisitions and doing more of them. Key Highlights 01-35 James introduces himself 03-15 James gets a job with the local undertaker 04-10 James drops out of university 05-40 Starting a business with his brother 08-50 Selling that business 10-30 Meeting his former employer and making his first acquisition 21-35 Finding his second acquisition by lending his limousines to a competitor 25-25 A last minute hitch 28-30 Using life insurance to reassure a seller Notable Quotes One of my first goals was to be earning at least, if not more, than a graduate would've been in three years time, but I would've had three years worth of work experience, which they wouldn't have had. We became a little bit of a thorn in their side, in a nice way, and they ended up acquiring us lock, stock, and barrel, both in the US and here. I built up the courage to say, I know you're probably not ready to retire right now, but when you are, would you give me first refusal on your business? And he turned around and said, I think I'm ready now. So, in ten seconds, I saved myself 121,000 pounds! Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay is joined by entrepreneur and dealmaker, Andrew Norton. Andrew shares insights into his recent, successful deals, how he funded them, how he found them, and the stark contrast between his first challenging deal and his recent multi-million-pound triumph. Andrew talks about the challenges he faced and how he overcame them, gaining valuable lessons that have shaped his recent acquisitions. He shares the way he secures funding, which has been crucial to the success of his deals. Key Highlights [01:42] What Andrew has done in the world of acquisitions [04:11] The people with the most success are the people with the best deal flow [05:25] How to streamline due diligence [08:40] How buying a larger business has changed Andrew's strategies [09:55] The number of acquisitions to do in a year [11:43] How long it took Andrew to get a deal done [14:13] Lessons learned from raising finances [16:21] Benefits of understanding the staffing arrangements Notable Quotes You don't have to agree on a price to agree heads the terms of a deal. You can agree on a mechanism for deciding the price you both agree on. There are always cost savings to bind in there. Once you're running the businesses, there are always bits you can change, tweak, and improve. Understanding the staffing arrangements and ensuring you have someone to run that business. Because again, if you don't get caught up in it, that will be vital to anyone. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week is one of our regular highlights episodes where we look back at some of the insights and interesting conversations I've had over the most recent episodes. I talk with Andrew Norton, who bought five businesses in just over 15 months. Starting out in the childcare sector, Andrew acquired several training businesses, and his consolidated group now trains childcare providers. Next, I speak with Gavin Page, who since joining Mastermind has bought nine businesses. In fact, he was crowned deal maker of the year at our annual awards and dinner in December last year. Next up is Darren Jacobs, who since joining my business buying courses, bought 25 businesses and sold four of them, and has an ambitious target to do 100 deals. And lastly, I talk with Alexis Kingsbury, about the importance of introducing processes into business acquisitions. We look at some examples of where and how processes have benefited their owners and how processes can create efficiencies and reduce headcount. Key Highlights [01:04] Andrew Norton (Childcare and training) [09:50] Gavin Page (Print sector) [20:17] Find out about Jonathan's lawyer, John Andrews [20:54] Darren Jacobs (Hair care) [30:05] Alexis Kingbury (Implementing processes to create efficiencies) Key Quotes Andrew Norton I thought, you know what, I'm going to target all three sectors and see what comes back. And it was the training sector that got the most interesting results. The training sector can ride more waves, I think, than some of the others in times of recession. We've diversified really nicely. We're merging the procurement and supply in with the engineering and manufacturing - so we've got similar customer bases, and higher level training courses. So we were getting many more responses to the letters we send out, just because we've already made an acquisition, even though it was a tiny one. Gavin Page When you're in your twenties, you've got nothing to lose. But when you're in your fifties, and you have a family, you have a responsibility to others. Get your pen out, get your computer out and do something. Type some letters. That's all it was initially. Without sending those letters, you've not got a chance, you know? Sure, you make mistakes obviously, and you think, oh, I should have done that better afterwards. But you refine your script, you refine the questions over time. Darren Jacobs In comparison to buying an IT business, buying a hair salon was ridiculously easy. One of the assumptions I made was this is a recession proof sector. When these doors open, we are going to have a flood of customers door to get their haircut. Alexis Kingbury Once you see it and you shine that spotlight, a lot of these things become obvious. And I would say that 99.9% of businesses don't have this. You have to be adding value on an ongoing basis. One way to do that is by providing the operating system that actually generates the results. Putting those processes in place with the sales team was what helped us to get results from building the sales. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay continues his conversation with Nathan Winch, a seasoned entrepreneur, as they delve into the intricacies of consolidating deals and bringing businesses together to operate as a cohesive group. Nathan sheds light on the most crucial aspects that demand attention from new business owners. They discuss the minimum handover period required after acquiring a business to ensure a smooth transition and maximize success. Nathan shares his tips for exiting and selling a business, offering valuable advice on preparing for a successful exit strategy and maximizing the value of the business. Whether you're a seasoned entrepreneur or embarking on your acquisition journey, this episode is for you! Key Highlights [01:38] The most important parts that require your attention as a new business owner [03:06] The minimum handover period for a business after the acquisition [05:30] How Nathan takes control of the finances [06:56] Finding the best finance director [11:22] What Nathan does after buying a business regarding branding [13:33] Nathan's take on buying a cheap business [15:56] Things that people should consider after buying a business [17:27] Advantages of going for a larger deal [19:19] Tips for exiting and selling a business [22:59] Tips to help you in your acquisition journey Notable Quotes I prefer to buy the established profitable businesses where we can add value strategically with what we already own rather than go to the great effort of just knackering the whole team trying to do a turnaround. Whether you're looking to exit or not, you should build to exit because it's good for you as well. Make sure you haven't got any operational role. Make sure anybody on your team, if you have another business, doesn't have an operational role. You should keep an eye on the numbers because that's what any buyer will scrutinize. So work. Think about what you'd want to buy. You need to build towards that. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay meets Nathan Winch, a former biologist turned successful entrepreneur, to discuss his transition into the business world and his acquisition experience. Nathan shares some of the most interesting deals he has secured, as well as his criteria for searching for businesses to acquire. He also talks about the characteristics of sellers he looks out for and why he prefers not to use a broker in his acquisitions. Nathan shares his insights on why larger deals are easier than smaller ones and the challenges he encountered. He offers valuable tips to those undertaking their first acquisition and shares some of the acquisition tips he has gained along the way. Key Highlights [01:13] How Nathan transitioned from a biologist into an entrepreneur [06:03] Some of the most interesting deals accrued out [08:20] Nathan's criteria when undertaking an acquisition [08:54] Characteristics of sellers that Nathan looks out for [10:32] Advantages of not using a broker in the first acquisitions [16:04] Why larger deals are easier than smaller deals [16:50] Challenges encountered by Nathan in his entrepreneurial journey [19:02] Tips to people undertaking their first acquisition [24:01] Acquisition tips that Nathan has gained along the way [26:22] Advice to people interested in buying a business but have not made the first step Notable Quotes I think you control the narrative. I think that's important. We obviously display our credibility. So it's not the credibility of a broker. I often say that brokers tend to be the graveyard of selling businesses. If I'm looking at a return on investment in terms of a return on spend, the bigger deals are the better investments, and like, often, a lot of the lenders we work with have minimum lending anyway course. To get some good advice. Don't just trust anybody you speak to, like with the accountants. And I just think about taking the leap. So long as you manage your risk correctly, it can be really life-changing. If you want to break something off and sell it, or there's a buyer that wants this but doesn't want that, if it's laid out correctly, it's very easy and tax efficient. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay continues his conversation with Dan, whose first acquisition was a specialist plant hire company, in an amazing eight figure deal. Dan shares his story of transitioning his new team and transforming the business he purchased. Since Dan bought the business, he has faced numerous challenges but as you will hear he has managed to turn them into valuable opportunities. They discuss the impact of change on the business and how Dan leveraged his experience in the military and other organizations to make strategic decisions. He reveals the importance of having the right people in the business, and how he carefully built a high-performing team that has been instrumental in the business's turnaround. Key Highlights [01:23] Transitioning to a new team [04:16] What happened since Dan bought the business [06:22] The impact of change on the business [08:38] Turning the bad into value [10:19] Changes that Dan initiated in the maintenance team [11:00] Benefits of having the right people in the business [12:17] How experience in the military and other organizations has influenced Dan's decisions [13:31] The worst thing one can have in a business [18:16] Dan's plans for the next 12 months [22:07] Advice to people interested in buying a business Notable Quotes One of the things about when you find something that's not right in a business, it can be a very big opportunity. In a business, I suppose. When you take it over you, it's good if you have some bad things and can turn them into value. The worst thing you can have on a business is fear, and if people are scared, they won't speak up, they won't take risks, you know that there'll constantly be scared about making mistakes, and they all sort of hunker down, nothing happens. One thing I did learn from the army, which the army is good at, is if you've got average people in a team that's gelled as a team, and they're working together, they are worth twice as much as eight supermen and women in a team who don't get on and are all competing with each other. If you've got the right team of people, and they're empowered, and they feel they can do stuff, you know, you're being successful when things are happening at once. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan is joined by Dan, who shares the remarkable story of his first acquisition – an £8m specialist plant hire business. We discover what led Dan to consider the business, how the negotiations went, the challenges he faced, and how the deal was eventually done. Dan also discusses the different options he considered before settling on this particular business, and why he chose to be lenient on the terms of the deal. Key Highlights [01:23] The type of business that Dan purchased [03:27] How Dan found his way into the industry [05:41] What drew Dan to this type of business [07:56] Different options that Dan considered and the challenges encountered [10:37] Number of letters that Dan sent out [12:30] Speaking with one business, he ended up buying another [14:28] Negotiations for the deal [17:39] Why Dan was lenient on the terms of the deal [19:51] Lessons learned from the acquisition Notable Quotes I've been involved in mergers and acquisitions not as someone doing the mergers and acquisitions but as somebody in the next phase of picking up quite often the mess and trying to make it work. The lesson I learned there was that what works for one person doesn't necessarily work for you. The lesson I learned there was that what works for one person doesn't necessarily work for you. You can't be too specific. You've just got to get out there and get the letters out. You're only as good as the advice you're getting, especially on the first deal. If the business is profitable, and you're taking a long time to buy it, that cash is growing and going up all the time unless he's taking it out. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, we continue the conversation with Sam Turner, a successful entrepreneur who shares his insights and experience on the acquisition process, from the very first day to the consolidation of the businesses. He talks about the importance of being consistent with your time and being present in your business to create a strong culture that aligns with your vision. He also shares his experiences transitioning from a large corporate to an SME - and how getting the business culture right is critical to business success. He also introduces the Entrepreneurial Operating System (EOS) and explains how it can be applied to optimize business operations. Key Highlights [01:40] What happened on day 1 of the acquisition [02:55] Being consistent with the time [04:38] The benefit of being present in your business [07:33] The culture shock of moving from a big company to a small company [09:09] Importance of cultural aspect in a business [12:30] Importance of CFO and how Sam incorporated that in his business plan [15:47] The Entrepreneurial Operating System [19:36] Why Sam has not done the retained equity [20:26] How Sam is applying what he has learned from acquisitions [22:47] The classic case of funding the business [25:11] Sam's deal team [28:19] What makes you succeed in the long-term [30:12] Advice to people who are yet to make their first step Notable Quotes I don't think you can over-communicate. And I think communication is something that's really, really important. Being consistent with that and holding to what you're saying. If you want to grow the business, build on top of the good performance that I've had because it's a profitable business, has good brand equity, etc., is being open and honest. So I think the danger in deals is that the first deal is that you got the due diligence, your legal, your financial, and to a certain extent, your commercial due diligence. And you can get anal about every single point, you know. And you just need to know what matters and what doesn't matter. What makes you succeed or not in the medium term is how good your teams are in the businesses. You are what you do, so what you do consistently is who you are. So if you want to be somewhere, do it consistently. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jonathan Jay is joined by Sam Turner, a successful entrepreneur who has made waves in the business world by purchasing three companies with a combined turnover of £17m within the last 15 months. Sam shares his story of how he got started in the business world and what led him to acquire businesses. He also shares his thoughts on rebranding and why he's not overly focused on integration. Sam offers invaluable insights into the art of reaching out to companies and the deals he needs to undertake to reach his revenue goal. Key Highlights [01:29] What led Sam to the world of business [07:09] Why Sam is not focused on integration [08:36] Why Sam decided to buy a business [11:08] How the decision on the sector to venture into came about [15:21] Rebranding, how Sam handles it [17:11] Where there is value from a branding perspective [19:01] Sam's thoughts on integrating back office [21:21] The annual group revenue and how it has grown [25:44] How to reach out to companies [28:26] Possibility of having deals out of the initial conversations [30:13] Deals that Sam needs to undertake to get to the 60 million revenue Notable Quotes If you've got a very, very similar value proposition for customers. A very similar business model, why wouldn't you look for the cost synergies as part of that? Brand equity, so to speak, is important that the reputation in the market Yes, is part of what you're buying. You're buying the people, the contracts, and the reputation. So I think it would be honestly crazy to try and think about a rebranding of that. When you're dealing with smaller businesses, they've got a legacy, a culture, and a reputation in the marketplace. You want to protect that and sort of enhance it rather than damage it. Sometimes it's horses for courses. I think, as we said before, if you've got a cookie-cutter approach, then it makes sense to be o Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we meet Alison, who has bought a hardware retail outlet, and Jo, who has purchased five accountancy practices. They talk about finding the best deal, the negotiations and lessons learned since joining the mastermind group. Key Highlights Alison [02:06] What triggered Alison to buy a business [03:47] The process of choosing the best business that works for you [05:19] Alison's approach to finding the first deal [08:18] The second mistake made by Alison [11:22] Lessons learned in the process of finding the first deal [13:40] Staying from our comfort zone [17:55] Managing the business completely hands off [19:02] Top things that Allison has learned from the mastermind group Jo [20:23] All about Jo's first acquisition [22:23] What motivated the seller to agree to a 20-year differed payment [24:54] Why you should go first on the price when making a deal [26:57] Why every sale and purchase agreement needs a mediation clause [28:23] Jo's non-negotiables when buying a business [32:05] The goals for 2023 Notable Quotes Alison The system is simple. And it's easy to follow. But it's also easy to suddenly take a step off the tracks. And when you take a step off the tracks, that's when it starts going wrong. My message from today is definitely going bigger. So I'm going to go back and go wider and up the supply chain stuff. The hassle of having something smaller is way more than if you have something bigger. Follow the system. Don't step off the system. Don't start making cock-ups because you've stepped off the system. Your life will be a lot easier in the process. And definitely, that thing just keeps going bigger. Jo Lots of times, people think that you know, buying a business, the seller is going to want the absolute maximum amount of money quickly in the quickest time. And sometimes that might be true. And one of my big roles is to listen more than I talk when it comes to those initial chats with the business owners because I think it's really important. The first step is to hear what an ideal deal looks like for you. Because actually, you could overcome it, you know, you could offer them too much money over a quicker period than what they're expecting. One thing I found surprising as well is that the clients don't seem to mind too much whose names are above the door, so long as there are not too much changes in those first sort of six to 12 months, you just have to make sure that you focus on building a relationship with them. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Each week I interview people from the world of mergers and acquisitions, specifically people who have been on my mastermind program and who have gone out and bought one or more businesses. This week we meet John Hood, who was a recent guest at my Dealmakers Live event in January. (We have another one coming up in July, by the way, with two days of exceptional deal makers in a room with a hundred people or more answering your questions about business buying). When he stood up to speak, John told us all about his six acquired businesses with a combined annual revenue of £6 million. As you'll hear, John says that if he hadn't read my book, listened to this podcast and watched my YouTube videos then he would never have considered buying a business. Key Highlights [02-27] A summary of John's six businesses [05-18] The first acquisition [07-55] Making acquisitions tax efficient for the seller [11-15] Getting to heads of terms [16-45] Negotiating deferred consideration [21-12] Paying yourself [24-40] Future goals and lessons learned Notable Quotes I think being around Jonathan and then joining his inner circle helped to fast forward it a little and made me more accountable. So whatever's in the bank is an asset of the business. If it's a limited company, it doesn't matter whether the owner thinks it's his money, he's got to get that money out. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Every week I interview people from the world of business acquisition and find out exactly what makes them successful. This week I'd like you to meet John Graves, who was one of my guest presenters at Dealmakers Live earlier this year. John's expertise is in buying distressed businesses - and I should emphasise that this is not for the beginner. If you've never bought a business before, it can be very risky to buy a distressed business for a pound and turn it into a success story. You may not pay for the business itself, but you'll pay for it in terms of time, stress, energy, and you might even have to put money into the business further down the line. However, John is an experienced deal maker and he has made buying distressed businesses his speciality. Key Highlights [02-05] John introduces himself [03-32] John's first - and unsuccessful - acquisition [06-34] The risks associated with an insolvency acquisition [10-27] Joining forces on an acquisition with another dealmaker [12-42] Negotiating with unpaid suppliers [16-38] The third acquisition [19-25] Risk versus reward [23-05] Comparing buying a business with hiring a salesperson [25-37] Advice for anyone considering buying a buying a business out of administration Notable Quotes On an insolvency, you take your risk, you take your chances, you get what you pay for and you just have to deal with what you find. I have no interest in paying salespeople because it's hard to train them. Why do I need salespeople when I can add that new customers through an acquisition? Having that sort of professional relationship with decent quality lawyers is really important because they're the ones that are going to keep you out of trouble. If you're prepared to put your money where your mouth is, then there are so many opportunities out there. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M&A, then take my free online course. You can find it at: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Each week I interview people from the world of business acquisition and find out exactly what makes them success. This week we continue our conversation with communications expert Andy Harrington. This time our topic is how to deal with adversity in business. Whether you are new in business or you've been in business for 30 years, everyone has challenging situations. Andy has heard every story imaginable about the adverse situations they've been in. It's inevitable that nothing is ever plain sailing all the time. It's your ability as an entrepreneur to remain resilient and to keep on solving problems that is key to your ongoing and everlasting success. There are ups and downs, but it's how you deal with them is what counts. Key Highlights [01:57] Strategies for tackling adversity [04:30] Factual statement or self belief? [06:05] What creates the emotions that you feel? [08:27] Avoiding 'why' questions [11:37] Process for learning from adversity [13:46] Choosing the people and peer groups you mix with [18:19] Why you need the 'difficult' person [22:14] Presenting for profits Notable Quotes Often when we talk to ourself when facing adversity, particularly with issues related to money, we say things like 'what's wrong with me?' Good problem solvers don't get themselves into a heightened state, because as soon as you start getting into a heightened state, your language patterns are not going to be very good Try to avoid a why question, like w'hy is this happening?' Have a process for disappointment, otherwise there's no learning You've got to compartmentalize who you get advice from Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M&A, then take my free online course. You can find it at: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

The role of communication This week, something a little bit different. We are going to talk about the language to use, and the tools and techniques to adopt when negotiating. Andy Harrington is an expert on communication, influence and selling - so we explore with him the best strategies for influencing someone, how to build rapport, the language to use and the questions to ask. Key Highlights [01:40] Best strategies for influencing someone and building rapport [04:08] Getting the seller to reveal themselves [08:55] Dealing with defensiveness [12:03] Pain related questions [15:20] Doesn't want to sell? Or doesn't want to sell to you? [18:51] Asking open questions [24:20] Creating the space for them to move towards you Notable Quotes The big mistake everyone makes with selling is to open their mouth and speak too much. The seller might have some idea what their problem is, but they haven't really fully explored, investigated, or even spoken to anybody about it. You wanna start with their story, right? That's a great place to start. Ask pain related questions, but make sure they are historical pain related questions People are usually slow to admit that they may be the problem that prevents a deal from being done Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M&A, then take my free online course. You can find it at: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Getting Optimal Value when Selling Your Business Ft/ Alexis Kingsbury This week we listen to the second part of my interview with Alexis Kingsbury, where we uncover the secrets to getting optimal value when selling a business. Alexis shares insights on how to document processes and create a streamlined onboarding system for new team members and clients. We explore how strong processes can increase a client's confidence in buying a business and the risks faced when business owners exit. Alexis also emphasizes the importance of documenting your business growth and the benefits of having an operations manual. Tune in to discover practical advice and tips that will help you maximize the value of your business and ensure a successful transition. Don't miss this insightful conversation on the essential steps every business owner should take to secure their legacy and create long-term success. Key Highlights [01:51] The secret to getting optimal value when selling a business [02:37] How to increase a client's confidence in buying a business [03:24] How having processes in a business gives buyers confidence [04:31] Risks of a business owner exiting [06:51] The importance of documenting your business growth [11:12] The benefits of having an operations manual [15:29] How documenting client onboarding processes benefits an organization [20:30] How to connect with Alexis Notable Quotes Here are a few ways in which you increase the value of the business to the person acquiring it. But of course, one of the key ones, one of the key ways essentially is confidence in future cash flow. So key members of staff leaving is a key cause of risk, particularly when you're acquiring because the concern is that the business owner had got the relationships and so on. If you have friction in the way, people don't follow the processes. We often say attack the process, not the person. It's not just about reducing mistakes. It's not just about freeing yourself up as a business leader. So fundamentally improving your service and your performance and everything, like the impact it can have, is huge. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

How Introducing Processes Can Boost Your Business ... This week I talk with Alexis Kingsbury about the importance of introducing processes into business acquisitions. Alexis shares the benefits of having a process operations manual. We'll explore how processes can create efficiencies, reduce headcount and ultimately make your business more profitable. From documenting and delegating processes to laying a process for better employee recruitment, we'll discuss how putting processes in place can help you attain results and work on your business rather than in it. We'll also explore the failures of business leaders and how having a solid set of processes can help mitigate risks and increase success. Tune in to learn how to develop your business processes and take your business to the next level! Key Highlights [01:32] Why it is essential to have processes in a business that you buy [03:34] Alexi's background in business [04:58] Benefits of having a process operations manual [08:05] How to develop your business processes [09:33] Putting processes in place to attain results [10:13] Laying process for better recruitment of employees [12:48] Working on your business rather than in your business [15:15] How to document and delegate your processes [22:13] Why it can be hard to improve your business if you don't have a benchmark [24:10] How we can build processes into things that everyone feels should be organic Notable Quotes So if you acquire a business and you lose key team members, which is okay, what often happens is you don't want to find that all of that knowledge walks out the door with them. Yeah. And so, by having those processes in place, you significantly reduce the risk just out of the gate. I think the risk is that business owners and business leaders assume that this requires some element of genius to improve your processes. What it actually requires is transparency. Your success as a franchisor it's not just based on the money you get upfront at selling the franchise; it's the ongoing, Yes to Success and your franchise. Given the options of going through that painful iteration or just reverting to it, I'll just do it myself. A doing-it-yourself route is never a sustainable option. It's not about making everything scripted to that degree, but it is about having a structure or a structure or a framework. The real power is when you take the structure and the smart questions and the ways in which we can describe our product in a fast way. That means we get back to quickly get to the idea. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we listen to the second part of my interview Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He's already sold four of them and has an ambitious target to do 100 deals. This week we are going to learn about the pains of integration and consolidation. Darren talks about the challenges of integrating the businesses, the lessons he learned along the way, the mistakes he made and what he would do differently now. Darren also shares his words of wisdom for new business buyers, providing valuable advice for those looking to enter the world of acquisitions. Key Highlights [01:43] The biggest element of business integration [04:20] General challenges in the hairdressing industry [06:18] The problem of paying people more than the market rates [08:34] The pricing structures to ensure a good profit margin in the industry [13:08] Darren's finance team and their roles [16:36] Challenges that may lead to employees resigning when making acquisitions [19:59] The Red-Amber-Green strategy [22:30] Darren's words of wisdom to new business buyers Notable Quotes It's probably the one disadvantage of the sector that it is entirely reliant on its people. Driving a business blind is I've done that years and years ago. Don't worry about the numbers. Don't worry about this. It'll be fine. But get control of numbers, get control of what's going on. And then it helps you make decisions quickly. Think the having the right people in the right roles is really important. Certainly, when you scale up to that kind of size, you've got to have someone in there that cultures, right, but they can do the right job If you've got a plan if you've got a business shape and size that you want to go after, don't be kind of desperate for the sake of getting another deal under the belt and breaking that discipline. Be a disciplined investor, be smart. Don't rush like we did. And there are plenty of deals out there plenty. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we meet Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He's already sold four of them and has an ambitious target to do 100 deals. Darren bought his first salon for his daughter, a qualified hair stylist, in May 2020. But when he started sending enquiry letters out, he quickly built a pipeline of potential acquisitions. This is a two part episode, and in this part we will hear about the deals, and next week we are going to learn about the pains of integration and consolidation. Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who've been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course. You can find it at www.dealmakerspodcast.co.uk Key Highlights [01:47] Why the switch from IT group to salons? [05:50] The criteria for selecting salons to buy [07:40] Opening twenty salons at once after lockdown [10:50] Financing the acquisitions [16:45] Motivations for salon owners to sell their business [18:35] Overview and structure of the salon group [21:05] What has Darren learned? [25:40] The acquisition strategy moving forward Notable Quotes In comparison to buying an IT business, buying a hair salon was ridiculously easy. In June 2020 we sent out a bunch of letters, about 1500. We had just over 300 people contact us from them. We've had to do a lot of work on consolidation and integration. I tell people that we've got a lot of salons, we're not that interested in buying many more at the moment, but if it works for us, we'll take a look at it. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 [email protected] for more information. 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 [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

5 business acquisitions in 15 months In this episode, Jonathan Jay talks with Andrew Norton, who has successfully bought five businesses in the last 15 months. Andrew shares his experiences and the strategies he used to make the five acquisitions, and talks about why he prefers large deals to small ones. He also explains the advantages of buying a business rather than starting one from scratch, as well as the challenges of financing a business that doesn't have fixed physical assets. And he offers valuable advice for anyone considering making their first acquisition. Key Highlights [03:37] A brief background of how Andrew met Jonathan [08:07] How Andrew's training program aimed at benefiting employees ended up benefiting third parties [10:37] Selling a business at a low point in its growth [12:32] How the Covid-19 pandemic gave Andrew time to readjust [13:14] What triggered Andrew to acquire a business rather than a startup [14:29] Reasons one should buy a business instead of starting one [15:45] Sequence of events that led to him joining the Fasttrack Program [16:11] Feeling before joining the Fasttrack Program [19:31] Andrew's first acquisition [22:39] Financing a business that does not have fixed physical assets [28:35] Worries that new dealmakers have in their first acquisition [30:42] Andrew's plan for the coming years [32:49] Advice to those who have not yet made their first acquisition [34:56] Advantages of joining the Fasttrack Program Notable Quotes I thought it was really fun. I like that. And I could see some benefits and really grow quickly. Obviously, I was hungry to achieve. It's so much better when you've got skilled people in their roles from the outset. So our first acquisition was our smallest and funnily enough, and it's not intentionally this way; every acquisition we've made has got bigger each time. We were probably too worried at the start that there were certain things that we really wanted to clarify early. I think it's all about action, isn't it? And the rest of the journey is about action as well. So yeah, the first bit of action. It gave me confidence. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Hello and welcome to our first episode of 2023 - a very happy new year to you all. This week, Jonathan talks with Mastermind member John, an experienced dealmaker who sold his own business a couple of years ago, and has since acquired six different businesses in his chosen sector - osteopathic and physiotherapy practices. In less than two years John's new group has gone from zero to two and a half million in annual revenue - he has another acquisition lined up, ready to go - as well as ambitions acquisition plans for the coming year. Key Highlights [01:23] Trusting your instincts when making an acquisition [03:30] The importance of deal flow [04:40] John's business background [06:05] Analysis - What makes a deal work? [11:25] The importance of passing on fee increases [15:17] The strength of the management team [21:00] The Financial Director's role and cash flow forecasting [23:20] When to develop an HR function? [25:45] Speed of engagement as important as speed of acquisition [33:45] Advice for anyone wondering about whether to do their first deal Key Quotations One of the big lessons I've learned is that if you start off on a hostile footing with a business seller, you might as well walk away straight away. We've left money on the table by not managing fee increases quickly enough. At the beginning I made a point of talking to all the senior fee earners and saying, this is what the vision is, and making it clear that I wanted them to be part of it. It's not just the speed of doing a deal that's important, but also the speed of engaging with the practice sellers. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Welcome to the last Business Buying Strategies episode of 2022. This week we've picked out twelve highlights from the year - one for each month. So in January, I talked with Richard Bundock, one of my dealmaking clients. Richard had started a successful business, but wasn't able to grow it organically as quickly as wanted to, so he turned to acquisitions instead. In February, I met Sam Turner, who gave up a lucrative and successful corporate career to become a dealmaker in the heating and ventilation sector. In March, I caught up with Nick Manuel, who graduated from my programme with the right attitude, determination and most importantly the right strategy to make successful acquisitions. In April, we met Peter Lidgitt, who bought nine UK businesses in 2020, totalling £20m in revenue – all whilst being locked down for most of the year at his home in France. In May, I talked with legendary jewellery entrepreneur Gerald Ratner who grew his global business almost entirely through acquisition. In June, we met John Richardson, whose expertise is in acquiring coffee retail businesses, and establishing a chain a coffee shops. In July, I spoke with Graeme Carling, who spent a decade building a substantial property portfolio, before buying a well known Scottish construction company out of administration. In August, we met Aled Davies, who runs a printing and textile printing family business. Aled had been trying to grow this business organically - but having listened to this podcast, and joining me on the Fasttrack Program, has now made his first acquisition. In September, I was joined by Phil Hunt, one of my private clients. Although Phil has a full-time job as an HR director of a city bank in London, this hasn't stopped him from making his first two acquisitions. In October, Jo Bell joined us to talk about her first five business acquisitions and the lessons that she has learnt along the way. In November, I met James Gardner, for whom a chance meeting led to the acquisition of a funeral care business, and has now become a group through acquisition. Finally, earlier in December, I caught up with Andy Doyle, who joined my very first business acquisition mastermind program nearly five years ago, back in 2018. Five years on and he has made several acquisitions, and has ambitious plans for the years ahead. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week Jonathan talks with Adam Wills, who had tried a number of start ups, none of which really took off. After listening to the podcast, and then meeting Jonathan in person, he concluded that acquisitions represented a much better opportunity for him. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we hear the second part of Jonathan's discussion with Andy Doyle, who joined Jonathan's first business acquisition mastermind program nearly five years ago, back in 2018. We heard him on the podcast in 2021, when he spoke at one of Jonathan's live events. This time, however, Jonathan invited him in to the studio for an in-depth discussion about the acquisitions he has made over five years, and his ambitious plans for the next few years. Andy Doyle talks about the the people and company culture challenges he faced when he merged two seemingly similar businesses. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we hear from Andy Doyle, who joined Jonathan's first business acquisition mastermind program nearly five years ago, back in 2018. We heard him on the podcast in 2021, when he spoke at one of Jonathan's live events. This time, however, Jonathan invited him in to the studio for an in-depth discussion about the acquisitions he has made over five years, and his ambitious plans for the next few years. It's a two-parter, this week and next, so grab a coffee and a pen, and I hope you enjoy it. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

For some reason, female deal makers seem to be in the minority, so it makes a refreshing change to be talking this week with Alison, who has just completed her first. As you'll hear, it took Alison longer than she expected to get going, and she very nearly invested her own capital into the deal. I started by asking Alison about her background, and about how the opportunity for that first acquisition eventually came about. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Buying a business is something that many people dream of doing. You can buy your own business and be the boss of your own life, but how do you know how to find profitable businesses? On this episode, I'm joined by Daniel Hill, who bought over a dozen lettings agents in the UK and combined them into one regional group he sold. He tells us how he did it and talks about mergers and acquisitions, the challenges business buyers face with existing employees after acquisition, and the opportunities available for people interested in buying a business. Key Highlights [00:47] What Daniel Hill does [01:46] Some interesting things Daniel has done in the world of merges [03:48] Challenges business buyers experience with existing employees [06:00] Why is it a challenge for people to accept change [06:51] How Daniel found letting agents and how he consolidated them [09:23] Structuring and financing deals [14:20] Daniel's primary and secondary objectives [17:13] With private schools, are you buying from charity? [21:27] Opportunities available for people interested in buying a business [23:59] The best sellers who guarantee the best deals [26:23] How to connect with Daniel Notable Quotes You have to be able to understand all of the things that are going on from the emotional side of things. The strategic part In things, people are going from adult mode to parent mode to child mode. To get the deal done, you're playing that back game, which has to do need to be really well-rounded to get it done. We're talking about politics and saying that everybody votes for change, but nobody wants it. Everyone says everyone speaks like they want to change. And then when it comes in, actually, the majority will don't like change, even if it's for the better. So what we do quite often what we find is that sometimes it's easier for the existing operating business to raise the debt it is, and it is the common buyer. I suppose my primary opinion is I'm looking for, so I've made my sort of money if you like, and then go into work thing is I've completed that, and I'm happy with that. The motivation to sell is retirement. There was a logic that during periods of uncertainty, not necessarily recession, because that's not always the case. But economic uncertainty, like the pandemic, was, organizations would prefer to buy revenue than build it. We talk about being bold and brave. But don't be foolish, like bold and brave is if somebody rings you up at nine in the morning and says the proverbial is about to hit the fan and they need to get a deal done, and you can roll up and get a deal done. Don't be foolish if you don't know what you're doing. Don't try and catch a falling knife. There are plenty of businesses for sale, but a lot of them are falling knives, and you don't cut your fingers. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

Are you looking to buy a business and want some advice on how to do it, you've come to the right place. In this episode, I'm joined by James Gardner, who has been on the podcast before. I want to catch up with him to find out what he's been doing and whether he's made further acquisitions. We discuss his plans for scaling up his acquisitions and the benefits of getting the right management structure in place. Key Highlights [01:38] Should one start a business or buy an existing business? [03:00] Why it is hard to find books on buying businesses [04:17] Advantages of buying a business [07:06] Background of James's first acquisition and how it shaped his second acquisition [10:11] Sectors that James has invested in [14:12] How James financed his acquisitions [15:51] Some of the advantages of the monthly payment [16:30] Goals and how he plans to scale up the business [19:14] Why people say they don't have time to buy a business [25:45] Benefits of building a management structure and delegation of duties [30:18] Setting goals around business and life Notable Quotes Investing in people and helping them learn and grow and develop themselves is just a wonderful thing to do. The acquisition of businesses is so much easier and simpler in the long run and a lot easier to do once you've got it over the line. So going into an already-made business that's been established for many years is extremely easy. Because all of that is taken care of. The joy and the benefit of having a deferred consideration within the acquisition deal are that if anything comes up that it has done, that actually you can then either negotiate that take it off at the end of the day or beginning of the deferred consideration. In hindsight, good timing, we could spend time and focus on that was growing as well, but an interesting time for what we did. As with most things in life, the first time is always the most terrifying and difficult, and nerve-wracking. One is easier than two, yes. And three or four or five is easier than one or two because you've built that team around you and all the other things that come with that. You've got to free yourself from the day-to-day. I have no problem doing any things; not saying I'm better than anybody because I'm not; however, my skill set is different from other people's; everyone has different roles, don't you? My skill set will be meeting with the previous owners. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we meet up again with Rob Goddard, this time about his experience of buying a business, rather than brokering sales. Key Highlights [01:48] Rob's first acquisition [05:38] Buying a distressed business [06:48] Six failed attempts to acquire a business! [10:20] Why the business couldn't adapt during Covid [11:50] Discovering unprofitable customers [17:00] Turnaround in seven months [18:35] Managing change and getting people on side [22:40] Recommendations for people sitting on the fence Notable Quotes It's a bit like football. I may support Arsenal, but I can admire Chelsea. So, if you're a top buyer, a tip for any buyers listening to this is to understand what the hot buttons are for the person you're in front of and what matters to them most. I just put the owner's name and the word 'scam' into a Google search. How can you help them get what they want by buying their business? Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

When making a business acquisition, you need an HR specialist who can guide you through the people aspects. Kelly Bater, one of my Human Resource experts, joins me on the show to share with us what has changed in HR when it came to buying a business. She shares some of the challenges people saw in businesses during the pandemic, and also talks about the essential elements business buyers should know regarding people. Key Highlights [01:48] Challenges encountered by people buying business during the pandemic [03:54] What one should know when making acquisitions [04:42] Why we should let professionals carry out the entire process of business acquisition [05:16] Challenges posed by the Furlough government directive [10:17] Key essentials business buyers should know when it comes to people aspects [14:40] What do business buyers do after obtaining all the necessary data from the seller [17:00] how the world of employment has changed [18:28] How small business owners can implement understanding culture with no huge costs [19:50] Why hybrid is going to be the way forward for businesses [24:29] Psychology behind the failure of the no-limit of holiday strategy. [26:56] Advice to potential business buyers [27:54] How to connect with Kelly Notable Quotes I think people like that flexibility in their lives. But it doesn't always suit the company. I think you can do one-to-one conversations on the screen. That's fine. But when it's the group interactions and communications, it's it's far more trickier. I think generally we look at when we're buying a business, we look at the financial structures, the business structures, and quite often forget about how do the people fit in that. No matter how much money you give somebody, if they're mentally not interested, you could pay them for that time, and not get the most out of them. As long as you've got the data, as long as it's upfront, and as long as you prepare your communication, you should be good to go. Look into it, do your research, make sure it's a business for you and look at yourself. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In today's episode, I'm talking to Cliff Spolander, who helps entrepreneurs to maximize the value of their business ready for sale. Cliff has spoken to more than 1,000 business owners looking to exit their business. We talk about what he's learned from those 1,000 business owners. We also talk about how he helps business owners to maximize the value of their business and finding the problems and flaws that could put off a potential buyer. Key Highlights [02:08] Cliff's conclusions after speaking to so many business owners [03:40] What are the main types of business exit? [06:17] How business liquidation works [10:00] Strategies for selling to private equity-backed buyers [12:07] Cliff's views on owners using brokers to exit [13:08] Alternative ways to exit [14:38] Key things an owner needs to get ready to sell the business for the best value [16:40] Why one should not rely on one or two individuals [20:48] What speeds up the process of selling a business [22:35] Quick wins business owners can implement to get the best chance of a successful exit [25:21] How business buyer hedges against the risk of workers failing to show up at work after acquisition [28:54] Advice to potential business buyers [30:14] Connect with Cliff Notable Quotes I think the biggest takeaway from my speaking with these owners is that they are not prepared for the exit process. I think unplanned liquidation is, yeah, a failure. Whereas if you don't see it coming, yeah. I think if there's open, honest communication mentioned, it's perfectly legit and a good way of doing things, but it goes around how the owner deals with that internally and making sure that the staff is happy and motivated. I think the owner needs to get proper operating procedures and training manuals, get everything out of the employee's head onto paper, and document the process because things change and evolve. As a consultant myself, I think it's very important to be able to prove your value. And so if you can show the client that you've increased the business value by X 1000s of pounds, you've reduced their wealth gap by X 1000s of pounds, you reduce the risk profile in the business, you can prove and show your worth as a consultant. There's more to business then than the numbers. And although they are important, but I think now the fact that comes in is to making sure that it's a fit for both people. Go for it, there's nothing holding you back; look for a good fit. Also, understand what your exit plan is, as well as know the purpose of your doing this. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

This week we discuss business brokers, as I speak with Rob Goddard about what it entails to be a business broker and why first-time buyers should avoid using them. Rob also discusses how to maximise your exit value. Key Highlights [01:28] Rob's first business to sell [04:20] What it entails to be a business broker [07:31] How competitive tension drives up the price of a business [11:32] Rob's opinion on people's priorities changing as they continue with the negotiation process [17:00] Why it is not always about money! [19:00] Why first-time buyers should not use brokers [21:05] What serious investors do [28:48] How to maximize one's exit value [30:19] The benefit of employing people rather than working for yourself [33:58] The only number that matters for a seller [35:46] Connect with Rob on LinkedIn Notable Quotes The highest bidder isn't necessarily the best bidder; it might be number two or three because there's a bit of fit. So, if you're a top buyer, a tip for any buyers listening to this is to understand what the hot buttons are for the person you're in front of and what matters to them most. Competitive tension can drive up prices. There are always two multiples; I've always taught this as two multiples on any deal. There are multiple sellers and buyers multiples; they're often not the same number. Think about the exit before you've bought a business and sunk any time and money into it after the best time to think about your exits before you've bought one. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this episode, Jo Bell joins us to talk about her business acquisition journey and the lessons that she has learnt. We talk about how being a doer impacts the business and how it can affect your next acquisition. Jo explains that looking at deals as pure numbers can be extremely helpful when you are not sure what a business is worth. She also discusses some of the ways sellers sometimes lie about deals or place too much emphasis on things that really don't matter in terms of pricing your business correctly. Jo also shares some words of advice to potential business buyers. Key Highlights [01:42] Jo's interesting business acquisition [02:38] Impacts of being a doer in the business [09:04] Do you feel that people believe in you? [10:20] Driving the business and getting onboard with the structure [11:51] Buying the perfect business [12:34] What was the next deal? [15:09] Perfect way of earning money without spending yours [20:51] Business sellers fabricating customer lists [23:03] What business buyers should look for when buying a business [24:12] Seeing deals in factual numbers [27:27] Balancing positive personalities and realities of business buying [31:40] Things that business sellers don't tell you [32:53] How do you keep yourself positive [37:06] Advice to people thinking of buying a business [40:25] Bell's next plans Notable Quotes I think learning for me is just to do a lot more due diligence actually because I think, where I'd always gone for the model of buying goodwill and assets, not companies, I didn't see the need to do as much goodwill. Over the years, I've become a lot more selective; you know, I've realized that there are a lot of practices out there for sale and many businesses for sale. And it's more about the ones who say no than the ones who say yes, whereas maybe previously, I just saw everything as an opportunity. You know, I'm a fixer. So I enjoy the challenge of fixing something, but you then have to question why, you know, when there's stuff there that doesn't need fixing, maybe just needs tweaking or just improving. No matter whether you're buying goodwill and assets or companies do that, due diligence and an accountant can help. So I think, first and foremost, its profitability. That's ultimately the reason why we're all doing this. So you want to ensure that if it's not profitable, now, you sure as hell know how you'll get it profitable. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

A conversation with a business buyer In this episode, we talk to Dee Ludlow, where we will discuss what it takes to buy a business in terms of your mindset. We're also talking about business buying negotiations. What new buyers worry about when they are on the brink of buying a business is also discussed in this episode. We also talk about mistakes made by new business buyers so you can avoid them when you get into deals. Dee also shares reasons business buyers should consider bigger deals over smaller ones. Key Highlights [02:00] What was interesting in buying a business? [05:08] Ludlow's first investment in the property industry [07:45] Working in the business rather than working on the business [09:46] Having a successful mindset in business [10:40] What new buyers worry about [13:48] Reasons why people stick on some deals even when they know it is not the right thing to do [22:28] Risk reward [24:26] Mistakes made by new business buyers [29:20] Advice to people interested in business buying and haven't bought a business yet [31:45] Why venture into bigger deals Notable Quotes I think experience is the best way to learn. But you can fast-track it by having help. I think a lot of the time, people do look past the mindset, and they're looking for the value. But you need that self-belief and the mindset there for you to believe it. No matter how much work you spend on one, I know it sounds cliche when they say some of the best deals are the ones you walk away from. But it's true. Never be scared to walk away from a deal. I've I wish I'd walked away. To me, income is the most important thing, and that's the reward you get when you buy a business as you access income. The biggest mistake I think I've underestimated is that you will need to put the time in. But the reward for that time is exponential. You can be the most intelligent person down the pub and everything about buying a business, but if you don't actually get on with it, you're never going to do it. It's hard to once you've done it; it's the best thing you'll ever have done. Resources If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy