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 hello@thedealmakersacademy.com 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 johnandrews.deallawyer@jmw.co.uk.
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
