Business Buying Strategies from The Dealmaker's Academy
Steven's acquisitions in digital marketing
Oct 10, 2024
Dive into the fascinating world of digital marketing acquisitions! Steven shares his journey from running a software agency to successfully managing multiple creative agencies across borders. Learn negotiation tactics that emphasize understanding seller motivations and the intricacies of dealing with distressed companies. Discover the power of networking through mastermind groups and the importance of structured knowledge in navigating the complexities of business deals. Plus, get insights into balancing price and terms for successful acquisitions!
37:56
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Quick takeaways
- Understanding the importance of identifying motivated sellers can simplify negotiations and facilitate smoother transitions in acquisitions.
- Establishing rapport through initial conversations enhances negotiation outcomes by allowing both parties to clearly express their needs and expectations.
Deep dives
Business Acquisition Journey
The speaker discusses the journey of acquiring businesses, detailing how he successfully completed four acquisitions, including both share sales and asset purchases. He emphasizes the importance of understanding the operational aspects of business ownership while distinguishing between managing a business and simply owning one. The journey began in January with outreach efforts, leading to the first acquisition finalized in July, with subsequent deals completed in August and January of the following year. This highlights the commitment required and the timeline involved in building a business portfolio.
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