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This week Jonathan talks with Adam Wills, who had tried a number of start ups, none of which really took off. After listening to the podcast, and then meeting Jonathan in person, he concluded that acquisitions represented a much better opportunity for him.

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 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 

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

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This week we hear the second part of Jonathan’s discussion with Andy Doyle, who joined Jonathan’s first business acquisition mastermind program nearly five years ago, back in 2018. We heard him on the podcast in 2021, when he spoke at one of Jonathan’s live events.

This time, however, Jonathan invited him in to the studio for an in-depth discussion about the acquisitions he has made over five years, and his ambitious plans for the next few years. Andy Doyle talks about the the people and company culture challenges he faced when he merged two seemingly similar businesses.

 

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 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 

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

 

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This week we hear from Andy Doyle, who joined Jonathan’s first business acquisition mastermind program nearly five years ago, back in 2018. We heard him on the podcast in 2021, when he spoke at one of Jonathan’s live events.

This time, however, Jonathan invited him in to the studio for an in-depth discussion about the acquisitions he has made over five years, and his ambitious plans for the next few years.

It’s a two-parter, this week and next, so grab a coffee and a pen, and I hope you enjoy it.

 

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 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 

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

 

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For some reason, female deal makers seem to be in the minority, so it makes a refreshing change to be talking this week with Alison, who has just completed her first. As you’ll hear, it took Alison longer than she expected to get going, and she very nearly invested her own capital into the deal. I started by asking Alison about her background, and about how the opportunity for that first acquisition eventually came about.

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

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Buying a business is something that many people dream of doing. You can buy your own business and be the boss of your own life, but how do you know how to find profitable businesses?

On this episode, I’m joined by Daniel Hill, who bought over a dozen lettings agents in the UK and combined them into one regional group he sold. He tells us how he did it and talks about mergers and acquisitions, the challenges business buyers face with existing employees after acquisition, and the opportunities available for people interested in buying a business.

Key Highlights

[00:47] What Daniel Hill does

[01:46] Some interesting things Daniel has done in the world of merges

[03:48] Challenges business buyers experience with existing employees

[06:00] Why is it a challenge for people to accept change

[06:51] How Daniel found letting agents and how he consolidated them

[09:23] Structuring and financing deals

[14:20] Daniel’s primary and secondary objectives

[17:13] With private schools, are you buying from charity?

[21:27] Opportunities available for people interested in buying a business

[23:59] The best sellers who guarantee the best deals

[26:23] How to connect with Daniel

Notable Quotes

• You have to be able to understand all of the things that are going on from the emotional side of things. The strategic part In things, people are going from adult mode to parent mode to child mode. To get the deal done, you’re playing that back game, which has to do need to be really well-rounded to get it done.
• We’re talking about politics and saying that everybody votes for change, but nobody wants it. Everyone says everyone speaks like they want to change. And then when it comes in, actually, the majority will don’t like change, even if it’s for the better.
• So what we do quite often what we find is that sometimes it’s easier for the existing operating business to raise the debt it is, and it is the common buyer.
• I suppose my primary opinion is I’m looking for, so I’ve made my sort of money if you like, and then go into work thing is I’ve completed that, and I’m happy with that.
• The motivation to sell is retirement.
• There was a logic that during periods of uncertainty, not necessarily recession, because that’s not always the case. But economic uncertainty, like the pandemic, was, organizations would prefer to buy revenue than build it.
• We talk about being bold and brave. But don’t be foolish, like bold and brave is if somebody rings you up at nine in the morning and says the proverbial is about to hit the fan and they need to get a deal done, and you can roll up and get a deal done.
• Don’t be foolish if you don’t know what you’re doing. Don’t try and catch a falling knife. There are plenty of businesses for sale, but a lot of them are falling knives, and you don’t cut your fingers.

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

 

Connect with Daniel Hill on

Official Profit Entrepreneurs Podcast:https://propertyentrepreneur.libsyn.com/108-new-season-new-schedule

Book: https://www.amazon.com/Karma-Credits-universal-wealth-happiness-ebook/dp/B0BFZXJTH5/ref=sr_1_9?crid=25N7VP519JWOO&keywords=Karma+Credits&qid=1666764959&qu=eyJxc2MiOiIwLjAwIiwicXNhIjoiMC4wMCIsInFzcCI6IjAuMDAifQ%3D%3D&sprefix=karma+credits%2Caps%2C596&sr=8-9

Facebook:https://www.facebook.com/PropertyEntrepreneurOfficial/

Instagram:@propertyentrepreneur_

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In this short, bonus episode Jonathan talks about his upcoming zoom fast-track program, mastermind program, inner circle, and also about the first ever Dealmakers Live weekend.

The Business Acquisition FastTrack Programme
https://www.thedealmakersacademy.com/fast/

Dealmakers Live
https://www.thedealmakersacademy.com/live/

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Are you looking to buy a business and want some advice on how to do it, you’ve come to the right place. In this episode, I’m joined by James Gardner, who has been on the podcast before. I want to catch up with him to find out what he’s been doing and whether he’s made further acquisitions. We discuss his plans for scaling up his acquisitions and the benefits of getting the right management structure in place.

Key Highlights

[01:38] Should one start a business or buy an existing business?

[03:00] Why it is hard to find books on buying businesses

[04:17] Advantages of buying a business

[07:06] Background of James’s first acquisition and how it shaped his second acquisition

[10:11] Sectors that James has invested in

[14:12] How James financed his acquisitions

[15:51] Some of the advantages of the monthly payment

[16:30] Goals and how he plans to scale up the business

[19:14] Why people say they don’t have time to buy a business

[25:45] Benefits of building a management structure and delegation of duties

[30:18] Setting goals around business and life

Notable Quotes

• Investing in people and helping them learn and grow and develop themselves is just a wonderful thing to do.
• The acquisition of businesses is so much easier and simpler in the long run and a lot easier to do once you’ve got it over the line.
• So going into an already-made business that’s been established for many years is extremely easy. Because all of that is taken care of.
• The joy and the benefit of having a deferred consideration within the acquisition deal are that if anything comes up that it has done, that actually you can then either negotiate that take it off at the end of the day or beginning of the deferred consideration.
• In hindsight, good timing, we could spend time and focus on that was growing as well, but an interesting time for what we did.
• As with most things in life, the first time is always the most terrifying and difficult, and nerve-wracking.
• One is easier than two, yes. And three or four or five is easier than one or two because you’ve built that team around you and all the other things that come with that.
• You’ve got to free yourself from the day-to-day.
• I have no problem doing any things; not saying I’m better than anybody because I’m not; however, my skill set is different from other people’s; everyone has different roles, don’t you? My skill set will be meeting with the previous owners.

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

Amazing 3D Goals:https://www.spreaker.com/show/amazing-3d-goals 

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This week we meet up again with Rob Goddard, this time about his experience of buying a business, rather than brokering sales. We discuss Rob’s first acquisition, buying a distressed business, discovering unprofitable customers and managing change and getting people on side.

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 +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

Connect with Rob Goddard on

LinkedIn: https://www.linkedin.com/in/robgoddard/?originalSubdomain=uk

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When making a business acquisition, you need an HR specialist who can guide you through the people aspects.

Kelly Bater, one of my Human Resource experts, joins me on the show to share with us what has changed in HR when it came to buying a business. She shares some of the challenges people saw in businesses during the pandemic, and also talks about the essential elements business buyers should know regarding people.

Key Highlights

[01:48] Challenges encountered by people buying business during the pandemic

[03:54] What one should know when making acquisitions

[04:42] Why we should let professionals carry out the entire process of business acquisition

[05:16] Challenges posed by the Furlough government directive

[10:17] Key essentials business buyers should know when it comes to people aspects

[14:40] What do business buyers do after obtaining all the necessary data from the seller

[17:00] how the world of employment has changed

[18:28] How small business owners can implement understanding culture with no huge costs

[19:50] Why hybrid is going to be the way forward for businesses

[24:29] Psychology behind the failure of the no-limit of holiday strategy.

[26:56] Advice to potential business buyers

[27:54] How to connect with Kelly

Notable Quotes

• I think people like that flexibility in their lives. But it doesn’t always suit the company.
• I think you can do one-to-one conversations on the screen. That’s fine. But when it’s the group interactions and communications, it’s it’s far more trickier.
• I think generally we look at when we’re buying a business, we look at the financial structures, the business structures, and quite often forget about how do the people fit in that.
• No matter how much money you give somebody, if they’re mentally not interested, you could pay them for that time, and not get the most out of them.
• As long as you’ve got the data, as long as it’s upfront, and as long as you prepare your communication, you should be good to go.
• Look into it, do your research, make sure it’s a business for you and look at yourself.

Resources

If you are looking for a lawyer in the UK to help you get the deal over the line, then use John Andrews. You can phone his office at (0345) 2412494 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

 

Connect with Kelly on:

Website: https://www.kbaterhr.com/

Email:  kelly@kbaterhr.com

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In today’s episode, I’m talking to Cliff Spolander, who helps entrepreneurs to maximize the value of their business ready for sale. Cliff has spoken to more than 1,000 business owners looking to exit their business. We talk about what he’s learned from those 1,000 business owners. We also talk about how he helps business owners to maximize the value of their business and finding the problems and flaws that could put off a potential buyer.

Key Highlights

[02:08] Cliff’s conclusions after speaking to so many business owners

[03:40] What are the main types of business exit?

[06:17] How business liquidation works

[10:00] Strategies for selling to private equity-backed buyers

[12:07] Cliff’s views on owners using brokers to exit

[13:08] Alternative ways to exit

[14:38] Key things an owner needs to get ready to sell the business for the best value

[16:40] Why one should not rely on one or two individuals

[20:48] What speeds up the process of selling a business

[22:35] Quick wins business owners can implement to get the best chance of a successful exit

[25:21] How business buyer hedges against the risk of workers failing to show up at work after acquisition

[28:54] Advice to potential business buyers

[30:14] Connect with Cliff

Notable Quotes

• I think the biggest takeaway from my speaking with these owners is that they are not prepared for the exit process.
• I think unplanned liquidation is, yeah, a failure. Whereas if you don’t see it coming, yeah.
• I think if there’s open, honest communication mentioned, it’s perfectly legit and a good way of doing things, but it goes around how the owner deals with that internally and making sure that the staff is happy and motivated.
• I think the owner needs to get proper operating procedures and training manuals, get everything out of the employee’s head onto paper, and document the process because things change and evolve.
• As a consultant myself, I think it’s very important to be able to prove your value. And so if you can show the client that you’ve increased the business value by X 1000s of pounds, you’ve reduced their wealth gap by X 1000s of pounds, you reduce the risk profile in the business, you can prove and show your worth as a consultant.
• There’s more to business then than the numbers. And although they are important, but I think now the fact that comes in is to making sure that it’s a fit for both people.
• Go for it, there’s nothing holding you back; look for a good fit. Also, understand what your exit plan is, as well as know the purpose of your doing this.

Resources

If you are looking for a lawyer in the UK to help you get the deal over the line, then use John Andrews. You can phone his office at (0345) 2412494 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

Connect with Cliff Spolander on

LinkedIn: linkedin.com/in/cliffspolander

Website:businessbydesign.co.uk

Website:saleabilitytest.com