Persevering after six failed business acquisitions

This week we meet up again with Rob Goddard, this time about his experience of buying a business, rather than brokering sales.  

Key Highlights

[01:48] Rob’s first acquisition

[05:38] Buying a distressed business

[06:48] Six failed attempts to acquire a business!

[10:20] Why the business couldn't adapt during Covid

[11:50] Discovering unprofitable customers

[17:00] Turnaround in seven months

[18:35] Managing change and getting people on side

[22:40] Recommendations for people sitting on the fence

 

Notable Quotes

• It's a bit like football. I may support Arsenal, but I can admire Chelsea.
• So, if you're a top buyer, a tip for any buyers listening to this is to understand what the hot buttons are for the person you're in front of and what matters to them most.
• I just put the owner's name and the word 'scam' into a Google search. 
• How can you help them get what they want by buying their business?

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