What to look for when buying a business

In this week’s episode, Jonathan shares his insights on successfully buying a business. He discusses a recent networking event held in Manchester, where he presented common mistakes buyers make and rules to follow for a successful acquisition.

Jonathan explains that you don't need a massive bank balance or perfect credit to buy a business, but instead having multiple options, substantial knowledge, confidence, and right mindset can lead to a successful deal.

You will learn about:

• The four golden rules of business acquisition to getting a business without risking personal assets.
• Why you should never use your own money.
• Why you should never run the business personally.
• How to avoid personal risk.
• How to plan your exit early.

He emphasizes the importance of moving fast during the acquisition process and being surrounded with positive people who can provide support. He concludes by informing about their Dealmakers Retreat event in Marbella.

00:44 Recap of Recent Networking Event 01:05 Insights into Business Buying 02:06 The Importance of Networking and Learning from Others 02:47 The Concept of Buying a Business Without Risking Your Own Cash 03:48 The Two Groups of People This Presentation is For 04:46 Follow-up Resources and Recommendations 06:14 Jonathan's Personal Journey in Business Buying 12:06 Golden Rules of Business Acquisition 17:10 Planning Your Exit Strategy 18:30 Understanding the Current Economic Climate 20:31 The Power of Negotiation and Seller Motivation 21:32 The Importance of Speed in Acquisition 22:17 Debunking Misconceptions about Business Acquisition 23:41 Why You Should Avoid Business Brokers for Your First Deal 25:16 Financing Methods for Business Acquisition 26:10 Overcoming Obstacles in Business Acquisition 27:27 The Power of Networking and Community 28:39 The Dealmakers Retreat: An Opportunity to Learn 30:18 Leveraging LinkedIn

** 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 johnandrews.deallawyer@jmw.co.uk.

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 hello@thedealmakersacademy.com for more information.