Business Buying Strategies From The Dealmaker's Academy

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.    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.dealmakersvideo.co.uk and 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  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 A

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk To join the Fasttrack Program, you can 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 or get the Webinar Training Video onwww.dealmakerspodcast.co.uk  

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] Opp

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]

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 Andr

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 hug

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

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 understa

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 lo

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 bo

In this episode, Jonathan speaks to Nick, one of his mastermind clients, to get to know how his recent acquisitions have transformed his existing business. Nick joins us to share what his normal day is like. Nick talks about the lessons he has learned since he made his first acquisition. We also understand how Nick's thinking has changed since this acquisition. Key Highlights [05:12] The history of the company [07:05] About the acquisition of the balloon company [08:27] How did the acquisition make changes to the sales process [10:07] Lessons learned from past acquisitions [12:53] where was the business size and client base before you bought it? [15:38] Points when one starts losing clients [16:42] How Nick's thinking has changed since the acquisition Notable Quotes I think one of the main things I've learned is about the first acquisition; for meI love to do things the hard way; I tend to throw myself into the deep end. It's challenging to get into many clients because they can buy it if we've sent it cheap

It’s the nerve center of a business – the books are critical to a company’s financial health and prosperity. But how do you know how your business will perform when it comes time to buy another? In this episode, we talk to Johan Goree, the managing director of on-point accounting firm. He shares his tips on what to look at when presented with a set of accounts and more accounting insights for potential business buyers. Johann also shares some words of advice to those interested in purchasing their businesses and haven’t owing to some fears.  Key Highlights [00:14] What Johan does in his accounting firm [02:14] Top three things that Johan looks at when presented with a set of accounts [06:06] How to deal with vendors of businesses who don't have up-to-date information and blame it on accountants [10:36] Acquisitions done by Johan [13:54] How to deal with business owners who say they have fixed assets of a certain value, they've got stock of a certain value, and they want 100% of that value [18:20] Johan’s take

Ian Leslie’s 40 years of Buying, Building, and Selling Businesses In this episode, Jonathan is joined by Ian Leslie, Company Director, pilot and professional photographer specializing in high-quality, stunning photography and video. With over forty years in business, Ian has built, grown, and exited more than eight businesses. He joins us to share his story, how he started acquiring businesses, his subsequent acquisitions, and he also shares some words of advice to people who want to start dealmaking.  Key Highlights [00:14] How Ian ventured into business [01:58] What Ian has learned over the 40 years in business [04:16] Ian’s first business acquisition [05:51] Deals negotiation process [10:51] The development of the business after the first acquisition [12:21] The best people to buy a business from [18:26] How much money is enough for a one to live a satisfying life [21:12] Who else would you add to your deal team? [22:51] Importance of having the right people in a deal [27:13] Ian’s advice to prospective bu

Scale up your business Part 2 In this week’s episode, I’m joined once more by Paul Avins, an award-winning business growth coach, speaker, and mentor. Paul has been involved in the business buying and selling field for over 17 years. He joins us to talk about acquiring and growing a business and when it's time to exit. We'll talk about what you need to know if you want to buy a business but aren't sure where to start. He also shares his thoughts about entrepreneurs who have held into a business for so long and shares some tips that help business owners create real Shareholder Value. Key Highlights [00:30] Paul’s advice when it comes to hiring staff [01:50] Paul’s thoughts on entrepreneurs holding to businesses for too long [05:45] Advice to entrepreneurs about selling businesses [07:50] Why people tolerate businesses they are not passionate about [10:14] About optimism bias [11:08] Knowing when to exit a business [13:00] Why people massively overestimate how much money they need [16:12] Language of a business

Scale up your business Part 1 In this week’s episode, I’m joined by Paul Avins, a business growth coach, speaker, and mentor. Paul shares some of the most important things with those who want to buy or sell a business. Paul talks about the most important thing to get a business off the ground. He details how one can develop good ideas for marketing and selling their businesses. He also shares strategies for finding good employees and what matters when selling or buying a business. Key Highlights [00:00] Paul’s grown-up business concept [02:36] What most people aspire [03:54] Success According to some people [04:50] Biggest things where people make mistakes [05:34] Reasons why vendors associate the value of a business with the number of years they have run it [05:54] What matters when selling a business [10:24] Tips for Building Grown-Up business for exit [11:14] How you value your own business [12:30] Questions that most people fail to ask [14:00] How to come up with the best ideas [18:30] Biggest challenge w

Interview with John Hood In this episode, I’m joined by entrepreneur John Hood. John and I met many years ago when I acquired a digital marketing agency I was gearing up to sell. By 27, John already had a furniture, distribution, and IT business. We later met in 2019 after he identified Home Improvement and construction as ideal for following my buy and build strategy. John joins us to share his background, how he made his first home improvement and construction acquisition, and possible mistakes in this journey. Key Highlights [01:33] About John Hood [02:03] John's background and his first acquisition [05:21] Business acquisition mistakes made by John [09:04] How people approach business buying deals [11.52] John’s plans and goals [16:06] So are you saying that your ambitions have grown? [17:34] The process of running one’s business [19:04] John’s advice to those who want to buy their businesses [21:00] Reinvesting profit generated from the acquired business [24:00] Nature of business ventures [25:55] John's

Interview with Phil Hunt In today's episode, I’m joined by Phil Hunt. Despite having a full-time job as an HR director of a city bank in London, this hasn't stopped Phil from following the Dealmakers Academy program and making his first two acquisitions. Phil has recently acquired two hairdressing salons, and he joins us to share his experience, highs and lows, and some of his best tips on acquiring one's business. Key highlights from the call [01:06] About Phil Hunt [02:50] Freedom of owning a business [03:28] When you were watching my videos, what was going through your head? [04:11] Likable moments in Fasttrack Program [08:28] How many conversations did you have before you found your first business acquisition target? [11:33] Did you use a lawyer? [12:10] How long did it take to complete the transaction? [12:41] Negotiation strategies [14:35] Hunt’s second acquisition [16:25] Tell me why this was a share purchase [19:08] Phil’s plans [19:49] What is the profit margin in this sector? [25:48] Advice to liste

This week, I talk with Jamie Simpson, a member of my private client programme. When I first met Jamie, he told me that he had been interested in buying a business for some time, but that nothing had actually happened.  Since joining the programme he has bought three businesses without risking his own cash.  Let's find out how he did 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 on +03452412494 or email him at johandrew.dolawyers.jmw.co.uk. To join the Fasttrack Program, you can connect with Jonathan Jay on Dealmakers Academy, follow him on Linkedin, or get his videos on youtube.

Moving beyond the mindset of organic growth In this episode, I am joined by Aled Davies, who runs a printing and textile printing family business. Aled had been trying to grow this business organically before listening to this podcast and joining me on one of my business acquisitions, Fasttrack Programs, in 2020. Through this program, Aled got a whole new perspective on growing his business and has since made his first acquisition. In this episode, Aled shares how he came about and how he got to make his first acquisition. He also shares some words of wisdom with those interested in buying their own business. Key Highlights [01:03] About Aled Davies [04:15] Motivation towards buying his own business [05:18] When you heard other people do what you wanted to do, did that motivate you? [06:09] Likable moments in the Fasttrack program [07:34] How did you go about your first call with the business owner of the business you eventually bought? [08:39] Would you have grown your business by 10-15% in the next 12 month

Hello this is Jonathan Jay - and welcome to episode 190 of the Business Buying Strategies podcast.  This week we meet Nigel Wilkinson, who set up a digital marketing agency in 2000. Nigel acquired one of his competitors in September 2019, and then joined my five day dealmakers academy training programme last year. He has made a couple more acquisitions since, although as you’ll hear it hasn’t all been plain sailing. Find more details of the next Fasttrack programme at:   www.thedealmakersacademy.com/FAST Follow or connect with Jonathan on LinkedIn https://bit.ly/2S3Xzxw Watch our YouTube Channel The Dealmaker's Academy https://bit.ly/3b86OFI