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In this episode, Jonathan Jay is joined by Sam Turner, a successful entrepreneur who has made waves in the business world by purchasing three companies with a combined turnover of £17m within the last 15 months.
Sam shares his story of how he got started in the business world and what led him to acquire businesses. He also shares his thoughts on rebranding and why he’s not overly focused on integration.
Sam offers invaluable insights into the art of reaching out to companies and the deals he needs to undertake to reach his revenue goal.
[01:29] What led Sam to the world of business
[07:09] Why Sam is not focused on integration
[08:36] Why Sam decided to buy a business
[11:08] How the decision on the sector to venture into came about
[15:21] Rebranding, how Sam handles it
[17:11] Where there is value from a branding perspective
[19:01] Sam’s thoughts on integrating back office
[21:21] The annual group revenue and how it has grown
[25:44] How to reach out to companies
[28:26] Possibility of having deals out of the initial conversations
[30:13] Deals that Sam needs to undertake to get to the 60 million revenue
- If you’ve got a very, very similar value proposition for customers. A very similar business model, why wouldn’t you look for the cost synergies as part of that?
- Brand equity, so to speak, is important that the reputation in the market Yes, is part of what you’re buying. You’re buying the people, the contracts, and the reputation. So I think it would be honestly crazy to try and think about a rebranding of that.
- When you’re dealing with smaller businesses, they’ve got a legacy, a culture, and a reputation in the marketplace. You want to protect that and sort of enhance it rather than damage it.
- Sometimes it’s horses for courses. I think, as we said before, if you’ve got a cookie-cutter approach, then it makes sense to be o
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 email@example.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 firstname.lastname@example.org.
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