In this episode, Jonathan Jay interviews Sam Turner, a former professional footballer turned dealmaker. Sam shares his journey from a successful corporate career to his decision to buy businesses. He explains how he found his first acquisition through networking and discusses the importance of credibility and clear focus in the acquisition process.
Sam emphasizes his philosophy of maintaining autonomous business units within a group and avoiding trying to oversimplify back-office synergies.
Key Highlights
[00:44] Sam’s background
[04:34] What Sam did after the Zoom course
[07:34] Factors to consider when deciding on the type of business to buy
[09:14] The role of credibility in a business venture
[12:14] How Sam undertook his first deal
[14:00] How networking can aid in getting deals
[15:20] Time frame between first contact with the business owner to owning it
[18:40] How Sam got access to a lender
[22:14] How too many changes can lead to a decline in the value of a business
[24:05] Sam’s plan for the future
Notable Quotes
- In the beginning, when you haven't done this for the first time, there is a credibility piece that is helpful to have somebody.
- Whether there's that, there will be best practices and stuff, but I'm not going to, probably not at least at the beginning, or let's merge all the back offices together. We may end up going down that road, but it will be because of a discussion with each of the sort of balances and the business.
- The money is secondary to me, and I also have very clear plans of what I would do with that to help others. But I think there is a great opportunity you have to work out whether it's for you or it's not. And if it is, then go for it.
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
Business Buying Strategies from The Dealmaker's Academy