Business Buying Strategies from The Dealmaker's Academy #197 Business Buying Strategies Podcast
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 business buyers
Notable Quotes- Go with your gut. Absolutely. And if you want to do something, go for it. Find a way to do it. Don't procrastinate.
- Having a figure in mind at all times if somebody came along and knocked on your door, so I will give you X for your business; if that figure matches, go, just take the money and run.
- The beauty of being in business is you've got the ability to, I'll use the word passive income, because that, but it's never passive. But you've you've built a business that's generating an income. And if you get the right management team in there, they will be able to sustain so it almost becomes a pension.
- Read, learn, digest, and ask questions.
- My view through life is always learning. I've always been curious. And it's an interesting one because it's never been part of my published valleys that we've written. And I've actually thought curious people make progress.
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