Business Buying Strategies from The Dealmaker's Academy

What size of business should you buy first? In the latest episode of Business Buying Strategies, Jonathan Jay offers guidance to first-time business buying on some key decisions to make when targeting their first acquisition.  Jonathan highlights elements to consider such as business size, owner involvement, business location, and the time commitment for the acquisition. He stresses the concept of not buying a business for just one pound, given the assumed liabilities can be burdensome, especially for first-time buyers. Jonathan recommends buying a solid, profitable business and using other people's money instead of taking on a distressed business. He also suggests strategies for negotiating, understanding the seller's motivations, managing the risks involved, and thinking about the business's exit strategy from the beginning for a more profitable result. If you are about to start your business buying journey, this episode will give you all the answers you need to these important questions.  Here are the key highlights: 00:00 Introduction to Business Acquisition 01:09 Guidelines for Your First Business Acquisition 03:30 Location Matters: Where Should Your First Acquisition Be? 05:02 Time Commitment in Business Acquisition 08:28 The Pitfalls of Buying a Business for One Pound 11:33 The Ideal Business for Your First Acquisition 16:57 Negotiating a Deal: The Power of Words 24:03 Golden Rules of Business Acquisition Here is what you will discover… Why you should avoid making owner-managed businesses for your first acquisition (who do you think is going to fill that void when they leave?) Why everything gets harder if you get your first acquisition wrong (it’s why this is such an important decision) Why it’s vital to figure out the cost of replacing the owner-manager with a manager paid market rate Why the million pound revenue mark is a good indicator for business buyers Why buying a business in another country as your first purchase is not a good idea (you’re buying a lot of inconvenience for your first deal) How shopping local is a good idea for acquisition entrepreneurs when starting out Why it is realistic and entirely possible to buy your first business while working a 9 to 5 (in fact, business owners prefer to speak out of hours) Why you need to switch your mindset from doing everything to leaning on your Deal Team to work through the process (the sooner you do this, the faster your progress) Why buying a bigger business actually gives you more time rather than less (you’re buying a working infrastructure with a bigger business)   ** 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… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast 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 on hello@thedealmakersacademy.com for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In this discussion, John Andrews, an experienced M&A lawyer at JMW Solicitors, shares his insights into effective deal structures for acquiring businesses, focusing on legal safeguards. He emphasizes the importance of robust legal due diligence to protect personal assets and limit liability. John distinguishes between share and asset purchases, explaining how each affects buyers and the necessity of a shareholders' agreement. He also highlights the critical role of M&A lawyers in navigating the complexities of business acquisition. Perfect for aspiring business buyers!

In this week’s episode, Jonathan shares his insights on successfully buying a business. He discusses a recent networking event held in Manchester, where he presented common mistakes buyers make and rules to follow for a successful acquisition. Jonathan explains that you don't need a massive bank balance or perfect credit to buy a business, but instead having multiple options, substantial knowledge, confidence, and right mindset can lead to a successful deal. You will learn about: The four golden rules of business acquisition to getting a business without risking personal assets. Why you should never use your own money. Why you should never run the business personally. How to avoid personal risk. How to plan your exit early. He emphasizes the importance of moving fast during the acquisition process and being surrounded with positive people who can provide support. He concludes by informing about their Dealmakers Retreat event in Marbella. 00:44 Recap of Recent Networking Event 01:05 Insights into Business Buying 02:06 The Importance of Networking and Learning from Others 02:47 The Concept of Buying a Business Without Risking Your Own Cash 03:48 The Two Groups of People This Presentation is For 04:46 Follow-up Resources and Recommendations 06:14 Jonathan's Personal Journey in Business Buying 12:06 Golden Rules of Business Acquisition 17:10 Planning Your Exit Strategy 18:30 Understanding the Current Economic Climate 20:31 The Power of Negotiation and Seller Motivation 21:32 The Importance of Speed in Acquisition 22:17 Debunking Misconceptions about Business Acquisition 23:41 Why You Should Avoid Business Brokers for Your First Deal 25:16 Financing Methods for Business Acquisition 26:10 Overcoming Obstacles in Business Acquisition 27:27 The Power of Networking and Community 28:39 The Dealmakers Retreat: An Opportunity to Learn 30:18 Leveraging LinkedIn ** 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 on hello@thedealmakersacademy.com for more information.

In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals some of the most common business buying mistakes we see new and inexperienced business buyers make. (And many experienced dealmakers, too!) Many of these mistakes can seriously damage your ability to source deals, negotiate the best price and terms possible and can even stop deals in their tracks. What’s more, many of these mistakes can be easily avoided. Listen to the Business Buying Strategies podcast today and discover whether you are making any of these 12 most common mistakes when it comes to buying a business. Here are the key highlights: 01:17 The Pitfall of Using Your Own Money 02:43 The Art of Financing a Business Purchase 04:48 Avoiding the Trap of Buying a Job 05:51 The Danger of Overpaying for a Business 08:46 The Importance of Understanding the Business You're Buying 10:44 Balancing Your Day Job and Business Buying Journey 12:54 The Power of Thinking Big in Business Buying 15:42 Assembling the Right Team for Your Business Purchase 17:34 The Importance of Cash Flow in Business Buying 20:26 The Risks of Buying an Underperforming Business 23:10 Understanding the Seller's Motivation 25:56 The Importance of a Company's Reputation 27:46 The Crucial Role of Due Diligence in Business Buying Here is what you will discover… Why buying a small business is the same effort as buying a large business (but can leave you with more stress, worry and sleepless nights…)  Why you must never sign a personal guarantee (unless you want to risk losing your house or other personal assets…) Why putting your own money into a business acquisition is a huge risk (even if you have money in the bank) Why there are so many better ways to finance a business acquisition that don’t involve using your own funds Why not putting your own money into a deal will always create a better deal in the end (this may surprise you) Why you should never take a vendor’s unwillingness to negotiate at face value (it’s amazing to see how quickly this can change under the right circumstances) Why buying a business in a sector or profession you understand will shortcut your journey (and take weeks and months off your learning curve) The No.1 thing every business buyer wishes they had done for their first deal (so you don’t make the same mistake) Why you must never cut corners when it comes to building your deal team (getting this wrong is a recipe for disaster) Why you must avoid buying a distressed business at all costs as your first acquisition The one thing you need to discover from the vendor that makes all your negotiations simpler (and could close the deal in a fraction of the time) ** 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 on hello@thedealmakersacademy.com for more information.

Discover the journey of an aspiring entrepreneur aiming to build a £400m empire through strategic business acquisitions. Hear insights on leveraging negotiation skills and creative vendor relationships to secure valuable deals. Martin shares his approach to transforming struggling businesses and the significance of trust in negotiations. Overcome fears of failure and learn actionable steps for success. Get inspired by the potential of integrating acquired businesses and fostering a growth-oriented culture.

How Gerald Ratner built a 2,500-store retail empire through acquisition British entrepreneur Gerald Ratner took his business from a single family-owned shop in Richmond to a multi-billion, 2,500-store retail empire spanning the UK and US.  In the process, he acquired some of the biggest names on the high street, including H. Samuel and Ernest Jones.  His entire strategy was built on growth by acquisition, often pushing the business to the limit.  You may have watched some of the recent video highlights from my interview with Gerald for my Mastermind clients. On today’s episode of the Business Buying Strategies podcast, you can listen to the whole interview where he detailed exactly how he grew the business at each stage, including the creative ways he raised funding and persuaded the owners to sell to him. You will discover… How Gerald used acquisition as a strategy to dominate the high street by buying his key competitors  How buying H. Samuel transformed the group and allowed the retailer to expand its customers beyond its historical base Why Gerald’s reasons for acquiring Ernest Jones was more than simply adding another 60 stores to the portfolio (it was a strategic move to “buy into” supplier relationships) Why Gerald chose not to copy his acquisition strategy when expanding to the US (and what he did instead) What he really said in his infamous speech at the Royal Albert Hall that no one remembers   ** 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.

De-risking Business Acquisitions: A 12-Step Guide to Successful Deals.  In this episode, Jonathan Jay shares strategies for buying a business successfully, without risking personal cash. He elaborates on the importance of proper corporate structure, no personal guarantees, de-risking leases, and linking business payment to performance. Jay also explains the significance of not over-leveraging, cost underwriting abort fees, due diligence, and incentivizing owners for a smooth transition among other things. He illustrates these points with real-life examples and emphasizes the ultimate aim - to de-risk deals and ensure a better night’s sleep for business buyers.   00:34 Introduction and Upcoming Events 01:25 De-risking Business Acquisitions: Part 1 01:55 Importance of Corporate Structure in Business Acquisition 04:31 Avoiding Personal Guarantees 07:52 De-risking Leases in Business Acquisition 11:48 Linking Payment to Business Performance 16:00 Avoiding Over-leveraging in Business Acquisition 26:55 Dealing with Distressed Businesses 32:33 Ensuring Smooth Transition Post-Acquisition ** 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.

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.

This year, we have featured more business buying success stories than ever before. Buying a business transforms your life. You just need to hear the stories of those who have follow the system and taken action to know that you can do it, too. The stories we have featured on the Business Buying Strategies podcast range from experienced business owners using acquisitions to rapidly grow their business to individuals holding down a 9-5 job who transformed their life by buying a business in their spare time.  In the latest episode of Business Buying Strategies, we look back at some of the major client wins and business buying success stories from the last 12 months. 2023 has been a great year for business buying entrepreneurs. But 2024 promises to be even better. If you are thinking about acquiring a business in 2024 and want to feel inspired, listen to this episode and discover how people – just like you – transformed their lives by buying a business.  Here are the key highlights: How Alison acquired a business in a sector she knew little about (and saved £100,000 on a bad deal, thanks to her Mastermind group)  How David tried to grow his business organically for years yet added more revenue in one “no money down” deal than he achieved in 12 months How Darren built a group of profitable hair salons without spending any of his own money (and one owner even paid him £20,000 to take the business off her hands) How Dan successfully acquired an eight-figure business without using any of his own funds How Danny acquired businesses in sectors he knew nothing about by following a proven business buying system (which is entirely possible when you shift away from an “operator” mindset)   ** 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.

What limiting beliefs hold you back from starting your business buying journey? What stops you from doing more deals or striving to close bigger acquisitions? In this episode of the Business Buying Strategies podcast, executive coach Vicki Espin explains how imposter syndrome and limiting beliefs stop you from getting what you want and how to eliminate beliefs holding you back. If you want to buy a business in 2024 and you’re not taking action, listen to this episode. It could be a game-changer for you. This is part 2 of a two-part series featuring Vicki. Make sure you listen to part 1 on a game-changer mindset first! Here are the key highlights: Why self-sabotage is the biggest threat to your success What is imposter syndrome? Why expectations are behind imposter syndrome What are your cultural reference points? What is an expectation? Client story - when the imposter turns traitor The difference between self-esteem and self-confidence Why you can’t completely eliminate the noise Here is what you will discover… How imposter syndrome trips you up without you realising (and what to do about it) How to set goals the right way so you never fail to achieve them How to avoid unintentional self-sabotage when you make important decisions Why imposter syndrome is a misalignment between what you say and what you think (and how to bridge the gap) Why identifying your childhood influences helps you understand your thoughts and beliefs today Why your imposter syndrome can show up as your “evil twin” at important moments (and how to deal with it) Why even the place you were born and brought up has an impact on your mindset, thoughts and beliefs  Why your thoughts precede your behaviour (and why you need to focus on what you want) The difference between self-confidence and self-esteem (and why you can’t have one without the other) ** 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.