Are you making any of these business buying mistakes?
Business Buying Strategies from The Dealmaker's Academy
Release Date: 02/08/2024
Overcoming Imposter Syndrome in Business Acquisition with Vicki Espin
Business Buying Strategies from The Dealmaker's Academy
In this episode of 'Business Buying Strategies,' Jonathan Jay introduces Vicki Espin, who discusses overcoming imposter syndrome, particularly for new business buyers worried about their lack of experience. Vicki emphasises that impostor syndrome affects everyone at different stages of life and offers insights on the roots of these feelings and practical advice on managing them. She highlights the importance of understanding one's motivations and beliefs to overcome doubts and fears related to business acquisition. She offers practical strategies to acknowledge and address their imposter...
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Getting the deal done - with Nigel Risner
Business Buying Strategies from The Dealmaker's Academy
In this week’s episode of the podcast, we feature highlights from peak performance coach Nigel Risner’s presentation at our last Dealmakers Retreat on how to get deals done and negotiate with vendors. During the presentation, Nigel delivers a masterclass on why some people are more effective than others in a negotiation, how to connect with and understand the other party to get the best deal and why you need to go deeper to understand why you’re not getting the results you want. This is packed with valuable insights and practical suggestions that will make a difference in your next...
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Understanding motivations of buyer and seller
Business Buying Strategies from The Dealmaker's Academy
In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals the psychology of the buyer and seller during any negotiation for the acquisition of a business. Business acquisition negotiations are primarily a psychological game, with the party who has more information carrying an advantage. Understanding how the vendor thinks from the start of a negotiation and through the various stages of a discussion is essential to building the trust and rapport needed to ensure an open conversation. Ultimately, the goal is to discover the motivation of the seller for having...
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Mastering business ownership - vision, values and culture
Business Buying Strategies from The Dealmaker's Academy
In the latest episode of the Business Buying Strategies podcast, business growth expert Andy Hemming explains the importance of vision, values and culture in a business in achieving business success post-acquisition. Andy discusses strategies for creating a positive culture that attracts quality employees and sustains growth. The episode covers practical frameworks for identifying and reinforcing a business's core values, structuring the organisation, and optimising operations through effective systems and processes, ultimately advocating for the systematic approach to building and integrating...
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Mastering Business Ownership - Strategies for Growth and Exit Multipliers
Business Buying Strategies from The Dealmaker's Academy
In the latest episode of the Business Buying Strategies podcast, business growth expert Andy Hemming explains how to oversee the performance of your business and drive growth without getting involved in the day-to-day operations. As a business investor, you need to avoid being drawn into daily management. Yet you also need to set the direction and focus on the business while holding the management team accountable. In this episode, Andy Hemming explains how to get the best from your management team and oversee growth by tracking the right metrics and KPIs, how to use the business cycle to...
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Mastering Buy and Build Strategies for Business Growth
Business Buying Strategies from The Dealmaker's Academy
In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals the rules for executing a successful Buy and Build strategy. The Buy and Build strategy is a popular with Private Equity firms. It involves acquiring multiple businesses and rolling them up together to create a business worth far more than the sum of its parts. However, there are plenty of risks along the way for the inexperienced dealmaker. In this episode recorded during the Dealmakers Retreat in Marbella earlier this year, Jonathan explains the benefits of using a Buy and Build strategy and how to...
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M&A: James Caan's Strategy for Buying, Selling, and Managing Risk
Business Buying Strategies from The Dealmaker's Academy
In this week’s episode of the Business Buying Strategies podcast Jonathan is in conversation with James Khan, renowned for his time on Dragon's Den and his expertise in business acquisitions. James shares his journey from starting a small recruitment business to building Alexander Man into a global leader in talent solutions, emphasizing the strategy of 'buy and build' for achieving scale. He discusses the importance of not taking on too much personal risk during acquisitions, the value of due diligence, especially regarding cultural fit, and his approach to financing deals without...
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Jonathan's keynote from the Marbella Dealmakers Conference
Business Buying Strategies from The Dealmaker's Academy
The Power of Action in Business Acquisition The difference between success and failure in business acquisition is not about how much you know. What stops most people from buying their first business is their mindset and belief. You can watch hours of YouTube videos, listen to hundreds of podcast episodes, and attend countless M&A networking events, but none of it has any value unless you take action. In the latest episode of the Business Buying Strategies podcast, listen to Jonathan Jay’s keynote speech from our recent Dealmakers Marbella Retreat, in which he discusses the...
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What size of business should you buy first?
Business Buying Strategies from The Dealmaker's Academy
What size of business should you buy first? In the latest episode of Business Buying Strategies, Jonathan Jay offers guidance to first-time business buying on some key decisions to make when targeting their first acquisition. Jonathan highlights elements to consider such as business size, owner involvement, business location, and the time commitment for the acquisition. He stresses the concept of not buying a business for just one pound, given the assumed liabilities can be burdensome, especially for first-time buyers. Jonathan recommends buying a solid, profitable business and using...
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Deal structures for buying a business with John Andrews
Business Buying Strategies from The Dealmaker's Academy
In the latest episode of the Business Buying Strategies podcast, experienced M&A lawyer John Andrews of JMW reveals the most effective deal structures for buying a business without using any of our own money. John is The Dealmakers Academy’s recommended lawyer and has completed deals with many of our Mastermind clients. In this podcast episode – recorded at the last Dealmakers M&A networking event in Manchester – John walks through the specifics of the dealmaking process from a legal perspective. Robust legal due diligence is essential to ensure you protect your personal...
info_outlineIn the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals some of the most common business buying mistakes we see new and inexperienced business buyers make. (And many experienced dealmakers, too!)
Many of these mistakes can seriously damage your ability to source deals, negotiate the best price and terms possible and can even stop deals in their tracks. What’s more, many of these mistakes can be easily avoided.
Listen to the Business Buying Strategies podcast today and discover whether you are making any of these 12 most common mistakes when it comes to buying a business.
Here are the key highlights:
Here is what you will discover…
- Why buying a small business is the same effort as buying a large business (but can leave you with more stress, worry and sleepless nights…)
- Why you must never sign a personal guarantee (unless you want to risk losing your house or other personal assets…)
- Why putting your own money into a business acquisition is a huge risk (even if you have money in the bank)
- Why there are so many better ways to finance a business acquisition that don’t involve using your own funds
- Why not putting your own money into a deal will always create a better deal in the end (this may surprise you)
- Why you should never take a vendor’s unwillingness to negotiate at face value (it’s amazing to see how quickly this can change under the right circumstances)
- Why buying a business in a sector or profession you understand will shortcut your journey (and take weeks and months off your learning curve)
- The No.1 thing every business buyer wishes they had done for their first deal (so you don’t make the same mistake)
- Why you must never cut corners when it comes to building your deal team (getting this wrong is a recipe for disaster)
- Why you must avoid buying a distressed business at all costs as your first acquisition
- The one thing you need to discover from the vendor that makes all your negotiations simpler (and could close the deal in a fraction of the time)
** Looking for a great acquisition lawyer in the UK? Use mine! **
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected].
Ready to get started?
Here’s how you can start your business buying journey…
Watch my FREE Dealmakers webinar training:
https://www.dealmakerspodcast.com
Get a FREE copy of my book:
https://www.thedealmakersacademy.com/free-book-giveaway
Join the Business Acquisition FastTrack course
https://www.thedealmakersacademy.com/quick
Already bought a business?
if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.