Business Buying Strategies from The Dealmaker's Academy #194 Business Buying Strategies Podcast
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 parting shots
Notable Quotes- If you don't understand your motive, then your motivation will never be there.
- I haven't quite had the courage to encourage people not to use lawyers because that's got connotations in the future, but we always encourage them to use lawyers.
- I think the first step and the action you want to take is to go out and get the inquiry to provide yourself with the lead, the deal flow, the needs, or whatever you want to call to give you a major choice.
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 (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: https://www.dealmakersvideo.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