Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

This week we meet John Hood, who was a recent guest at my Dealmakers Live event in January. (We have another one coming up in July, by the way, with two days of exceptional deal makers in a room with a hundred people or more answering your questions about business buying).

When he stood up to speak, John told us all about his six acquired businesses with a combined annual revenue of £6 million. As you’ll hear, John says that if he hadn’t read my book, listened to this podcast and watched my YouTube videos then he would never have considered buying a business.

Key Highlights

[02-27] A summary of John’s six businesses

[05-18] The first acquisition

[07-55] Making acquisitions tax efficient for the seller

[11-15] Getting to heads of terms

[16-45] Negotiating deferred consideration

[21-12] Paying yourself

[24-40] Future goals and lessons learned

Notable Quotes

I think being around Jonathan and then joining his inner circle helped to fast forward it a little and made me more accountable.

So whatever’s in the bank is an asset of the business. If it’s a limited company, it doesn’t matter whether the owner thinks it’s his money, he’s got to get that money out.

Resources

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 hello@thedealmakersacademy.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 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:
www.dealmakerspodcast.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

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

Every week I interview people from the world of business acquisition and find out exactly what makes them successful. This week I’d like you to meet John Graves, who was one of my guest presenters at Dealmakers Live earlier this year.

John’s expertise is in buying distressed businesses – and I should emphasise that this is not for the beginner. If you’ve never bought a business before, it can be very risky to buy a distressed business for a pound and turn it into a success story. You may not pay for the business itself, but you’ll pay for it in terms of time, stress, energy, and you might even have to put money into the business further down the line.

However, John is an experienced deal maker and he has made buying distressed businesses his speciality.

Key Highlights

[02-05] John introduces himself
[03-32] John’s first – and unsuccessful – acquisition
[06-34] The risks associated with an insolvency acquisition
[10-27] Joining forces on an acquisition with another dealmaker
[12-42] Negotiating with unpaid suppliers
[16-38] The third acquisition
[19-25] Risk versus reward
[23-05] Comparing buying a business with hiring a salesperson
[25-37] Advice for anyone considering buying a buying a business out of administration

Notable Quotes

• On an insolvency, you take your risk, you take your chances, you get what you pay for and you just have to deal with what you find.
• I have no interest in paying salespeople because it’s hard to train them. Why do I need salespeople when I can add that new customers through an acquisition?
• Having that sort of professional relationship with decent quality lawyers is really important because they’re the ones that are going to keep you out of trouble.
• If you’re prepared to put your money where your mouth is, then there are so many opportunities out there.

If you want to know how to get started in mergers and acquisitions, then take my free online course. You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information.

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 atwww.dealmakersvideo.co.ukand you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

Website:https://www.thedealmakersacademy.com/

LinkedIn:https://www.linkedin.com/in/jonathan-jay-3556b230/

Youtube:https://www.youtube.com/c/TheDealmakersAcademy or get the

Webinar Training Video onwww.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

 

Each week I interview people from the world of business acquisition and find out exactly what makes them success.

This week we continue our conversation with communications expert Andy Harrington.  This time our topic is how to deal with adversity in business. Whether you are new in business or you’ve been in business for 30 years, everyone has challenging situations. Andy has heard every story imaginable about the adverse situations they’ve been in.

It’s inevitable that nothing is ever plain sailing all the time. It’s your ability as an entrepreneur to remain resilient and to keep on solving problems that is key to your ongoing and everlasting success. 

There are ups and downs, but it’s how you deal with them is what counts. 

Key Highlights

[01:57] Strategies for tackling adversity

[04:30] Factual statement or self belief?

[06:05] What creates the emotions that you feel?

[08:27] Avoiding ‘why’ questions

[11:37] Process for learning from adversity

[13:46] Choosing the people and peer groups you mix with

[18:19] Why you need the ‘difficult’ person

[22:14] Presenting for profits

Notable Quotes

• Often when we talk to ourself when facing adversity, particularly with issues related to money, we say things like ‘what’s wrong with me?’
• Good problem solvers don’t get themselves into a heightened state, because as soon as you start getting into a heightened state, your language patterns are not going to be very good
• Try to avoid a why question, like w’hy is this happening?’
• Have a process for disappointment, otherwise there’s no learning
• You’ve got to compartmentalize who you get advice from

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

 

The role of communication

 This week, something a little bit different. We are going to talk about the language to use, and the tools and techniques to adopt when negotiating. Andy Harrington is an expert on communication, influence and selling – so we explore with him the best strategies for influencing someone, how to build rapport, the language to use and the questions to ask.

Key Highlights

[01:40] Best strategies for influencing someone and building rapport

[04:08] Getting the seller to reveal themselves

[08:55] Dealing with defensiveness

[12:03] Pain related questions

[15:20] Doesn’t want to sell? Or doesn’t want to sell to you?

[18:51] Asking open questions

[24:20] Creating the space for them to move towards you

Notable Quotes

• The big mistake everyone makes with selling is to open their mouth and speak too much.
• The seller might have some idea what their problem is, but they haven’t really fully explored, investigated, or even spoken to anybody about it.
• You wanna start with their story, right? That’s a great place to start.
• Ask pain related questions, but make sure they are historical pain related questions
• People are usually slow to admit that they may be the problem that prevents a deal from being done

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

 

Getting Optimal Value when Selling Your Business Ft/ Alexis Kingsbury

 This week we listen to the second part of my interview with Alexis Kingsbury, where we uncover the secrets to getting optimal value when selling a business. Alexis shares insights on how to document processes and create a streamlined onboarding system for new team members and clients. We explore how strong processes can increase a client’s confidence in buying a business and the risks faced when business owners exit. Alexis also emphasizes the importance of documenting your business growth and the benefits of having an operations manual.

Tune in to discover practical advice and tips that will help you maximize the value of your business and ensure a successful transition. Don’t miss this insightful conversation on the essential steps every business owner should take to secure their legacy and create long-term success.

Key Highlights

[01:51] The secret to getting optimal value when selling a business

[02:37] How to increase a client’s confidence in buying a business

[03:24] How having processes in a business gives buyers confidence

[04:31] Risks of a business owner exiting

[06:51] The importance of documenting your business growth

[11:12] The benefits of having an operations manual

[13:36] How to avoid repeating questions in a business

[15:29] How documenting client onboarding processes benefits an organization

[20:30] How to connect with Alexis

Notable Quotes

• Here are a few ways in which you increase the value of the business to the person acquiring it. But of course, one of the key ones, one of the key ways essentially is confidence in future cash flow.
• So key members of staff leaving is a key cause of risk, particularly when you’re acquiring because the concern is that the business owner had got the relationships and so on.
• If you have friction in the way, people don’t follow the processes.
• We often say attack the process, not the person.
• It’s not just about reducing mistakes. It’s not just about freeing yourself up as a business leader. So fundamentally improving your service and your performance and everything, like the impact it can have, is huge.

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

How Introducing Processes Can Boost Your Business …

This week I talk with Alexis Kingsbury about the importance of introducing processes into business acquisitions. Alexis shares the benefits of having a process operations manual. We’ll explore how processes can create efficiencies, reduce headcount and ultimately make your business more profitable. From documenting and delegating processes to laying a process for better employee recruitment, we’ll discuss how putting processes in place can help you attain results and work on your business rather than in it. We’ll also explore the failures of business leaders and how having a solid set of processes can help mitigate risks and increase success.

Tune in to learn how to develop your business processes and take your business to the next level!

Key Highlights

[01:32] Why it is essential to have processes in a business that you buy

[03:34] Alexi’s background in business

[04:58] Benefits of having a process operations manual

[08:05] How to develop your business processes

[09:33] Putting processes in place to attain results

[10:13] Laying process for better recruitment of employees

[12:48] Working on your business rather than in your business

[15:15] How to document and delegate your processes

[21:09] The failures of a business leader

[22:13] Why it can be hard to improve your business if you don’t have a benchmark

[24:10] How we can build processes into things that everyone feels should be organic

Notable Quotes

• So if you acquire a business and you lose key team members, which is okay, what often happens is you don’t want to find that all of that knowledge walks out the door with them. Yeah. And so, by having those processes in place, you significantly reduce the risk just out of the gate.
• I think the risk is that business owners and business leaders assume that this requires some element of genius to improve your processes. What it actually requires is transparency.
• Your success as a franchisor it’s not just based on the money you get upfront at selling the franchise; it’s the ongoing, Yes to Success and your franchise.
• The mistake I made was that I focused on, oh, I’ll just bring in a player and then leave them to it because I don’t want to mess them up. I don’t want to ruin them. Right?
• Given the options of going through that painful iteration or just reverting to it, I’ll just do it myself. A doing-it-yourself route is never a sustainable option.
• It’s not about making everything scripted to that degree, but it is about having a structure or a structure or a framework.
• The real power is when you take the structure and the smart questions and the ways in which we can describe our product in a fast way. That means we get back to quickly get to the idea. 

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

 This week we listen to the second part of my interview Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He’s already sold four of them and has an ambitious target to do 100 deals. 

This week we are going to learn about the pains of integration and consolidation. Darren talks about the challenges of integrating the businesses, the lessons he learned along the way, the mistakes he made and what he would do differently now. Darren also shares his words of wisdom for new business buyers, providing valuable advice for those looking to enter the world of acquisitions. 

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

Key Highlights

[01:43] The biggest element of business integration

[04:20] General challenges in the hairdressing industry

[06:18] The problem of paying people more than the market rates

[08:34] The pricing structures to ensure a good profit margin in the industry

[13:08] Darren’s finance team and their roles

[16:36] Challenges that may lead to employees resigning when making acquisitions

[17:31] Why Darren gave up on one of his acquisitions

[18:04] Turning to zero-revenue overnight and lessons learned

[19:59] The Red-Amber-Green strategy

[22:30] Darren’s words of wisdom to new business buyers

Notable Quotes

• It’s probably the one disadvantage of the sector that it is entirely reliant on its people.
• Driving a business blind is I’ve done that years and years ago. Don’t worry about the numbers. Don’t worry about this. It’ll be fine. But get control of numbers, get control of what’s going on. And then it helps you make decisions quickly.
• Think the having the right people in the right roles is really important. Certainly, when you scale up to that kind of size, you’ve got to have someone in there that cultures, right, but they can do the right job
• If you’ve got a plan if you’ve got a business shape and size that you want to go after, don’t be kind of desperate for the sake of getting another deal under the belt and breaking that discipline.
• Be a disciplined investor, be smart. Don’t rush like we did. And there are plenty of deals out there plenty.

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

For your free training on how to buy a business go to www.dealmakerspodcast.co.uk.

 This week we meet Darren Jacobs, who since joining my business buying courses has bought a total of 25 businesses in just eight months. He’s already sold four of them and has an ambitious target to do 100 deals. 

Darren bought his first salon for his daughter, a qualified hair stylist, in May 2020. But when he started sending enquiry letters out, he quickly built a pipeline of potential acquisitions. 

This is a two part episode, and in this part we will hear about the deals, and next week we are going to learn about the pains of integration and consolidation. 

Business Buying Strategies is the leading podcast for people who want to buy a business. Each week I interview deal makers who’ve been on my business acquisition Mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in mergers and acquisitions, then take my free online course.

You can find it at www.dealmakerspodcast.co.uk

Notable Quotes

In comparison to buying an IT business, buying a hair salon was ridiculously easy.
In June 2020 we sent out a bunch of letters, about 1500. We had just over 300 people contact us from them.
We’ve had to do a lot of work on consolidation and integration.
I tell people that we’ve got a lot of salons, we’re not that interested in buying many more at the moment, but if it works for us, we’ll take a look at it.
The reality is there are far more important things to people than money. And it usually starts off with retirement.

Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M & A, then take my free online course. You can find it at www.dealmakerspodcast.co.uk. 

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 hello@thedealmakersacademy.com for more information. 

Webinar Training Video on www.dealmakerspodcast.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 atwww.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video on www.dealmakerspodcast.co.uk

Podcast: Play in new window | Download

Hello and welcome to our first episode of 2023 – a very happy new year to you all.

This week, Jonathan talks with Mastermind member John, an experienced dealmaker who sold his own business a couple of years ago, and has since acquired six different businesses in his chosen sector – osteopathic and physiotherapy practices.

In less than two years John’s new group has gone from zero to two and a half million in annual revenue – he has another acquisition lined up, ready to go – as well as ambitions acquisition plans for the coming year.

Quotes

One of the big lessons I’ve learned is that if you start off on a hostile footing with a business seller, you might as well walk away straight away. 
We’ve left money on the table by not managing fee increases quickly enough.
At the beginning I made a point of talking to all the senior fee earners and saying, this is what the vision is, and making it clear that I wanted them to be part of it.
It’s not just the speed of doing a deal that’s important, but also the speed of engaging with the practice sellers.

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 www.dealmakersvideo.co.uk and you can also request a free copy of my book athttps://www.thedealmakersacademy.com/free-book-giveaway/

If you want to jump straight to my live Zoom FastTrack course please go tohttps://www.thedealmakersacademy.com/fast 

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 +03452412494 or email him at johnandrews.deallawyer@jmw.co.uk

To join the Fasttrack Program, you can 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 or get the

Webinar Training Video onwww.dealmakerspodcast.co.uk