#122: Tactical Tuesday: Acquiring your Competition

OVERVIEW:

Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast talks about the importance and benefits of acquisitions and why it’s an important business tool you should consider.

 

EPISODE HIGHLIGHTS:

• Many entrepreneurs look at acquisitions as an esoteric, intimidating and highly complex process that’s hard to understand. 
• On the contrary, acquisitions are a powerful tool you can use to scale your business. In fact, companies are spending well over $2 trillion a year on acquisitions!
• There are two fundamental reasons why you should consider an acquisition. 
• First, acquisitions can help prove the value or worth of your current business. Second, it allows you to create new revenue generation.
• Acquisitions allow you to improve your current business model and boost your existing performance by decreasing the cost of goods or the cost of marketing.
• Acquisitions are considered to be a wise business move because you can often improve operational efficiencies and customer volume. .
• Jason shares an example of an old SaaS company being acquired by a new player in the ketamine arena. By acquiring their competition, the new player now has the luxury of increasing prices while decreasing costs.
• Jason believes there’s no better time to consider an acquisition since many businesses have been severely affected by the COVID-19 pandemic and may be more open. 
• If you’re not yet considering acquisitions, Jason challenges you to put it on your radar and look around. Make a list of your competitors and start those conversations.

3 KEY POINTS:

1. Many entrepreneurs see acquisitions as an intimidating, highly complex and esoteric process.  
2. Acquisitions are a powerful tool that can massively benefit your business. 
3. Often, an acquisition can decrease costs, improve efficiencies and increase customer volume. 

TWEETABLE QUOTES:

“There’s a variety of benefits to acquiring competitors in your market.” - Jason Duprat

 

RESOURCES MENTIONED:

Healthcare Entrepreneur Academy for Digital Businesses - https://www.facebook.com/groups/HeathcareEntrepreneurAcademy/

Healthcare Entrepreneur Academy for Brick & Mortar Businesses - https://www.facebook.com/groups/HealthcareEntrepreneurAcademyBrickandMortar/

 

#HealthcareEntrepreneurAcademy #HealthcareBoss #healthcare #entrepreneur #entrepreneurship #acquisitions #smallbusiness #growthstrategy