Buying a business - Using the right words

The words you use during a negotiation to buy a business can make the difference between closing a great deal and failing to close any deals.

Use the right language and you will discover the vendor’s motivation, build trust and clear the path to a smooth sale at the best price. Use the wrong language and you could sabotage the acquisition – or, worse, end up with a bad deal.

A few weeks ago, I was invited to speak to a group of property agents who are planning to grow in 2024. I showed them how they could double their agency within six months by growing their business through acquisition – and only those Dealmakers who know how to negotiate and use the right language will secure great deals at the best price. 

You will discover…

• Why the words you use when you negotiate could be the difference between a good deal and no deal
• Why you must never, ever be the first to make an offer during a negotiation (do this and you will never recover)
• The one question to unlock the path to a great deal and guarantee the vendor is on board with closing a deal quickly
• The most powerful phrase to use during the acquisition if things get a little bumpy (I guarantee this becomes your “go to” phrase in your future negotiations)
• What you should never do when the owner gives you a price for the business (forget this and it’s game over)

Here are the key highlights:

01:29 The Magic Words That Make You Millions 04:35 The Art of Negotiation: Never Go First on Price 07:10 Reacting to the Seller's Price: The Importance of Body Language 10:40 Avoiding the Valuation Trap 15:01 Understanding the Seller's Motivations and Painting a Picture 18:04 Identifying Motivated Sellers 19:59 The Importance of Motivated Sellers 20:43 Avoiding Business Brokers 21:59 The Power of 'No One is Lending' 22:15 The Advantage of Using Other People's Money 24:18 The Speed of Business Acquisition 24:57 Asset Purchase vs Share Purchase 25:48 The Importance of Having a Clear Process 27:33 Expanding Your Business Portfolio 33:03 The Power of 'Is That a Deal Breaker?' 38:23 The Magic Words That Make You Millions

** 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 at hello@thedealmakersacademy.com for more information.