The distressed business owner
Instead of looking for distressed businesses to buy, look instead for distressed business owners who are highly motivated to sell, recommends Jonathan Jay, founder of The Dealmaker’s Academy. In this short video, Jonathan explains:
- How to change your mindset and why you should
- The qualities of a distressed business owner
Prefer to read this? Here’s the transcript:
Hi, this is Jonathan Jay from the Dealmaker’s Academy.
Welcome to these videos on buying and selling businesses where each time, in 60 to 90 seconds, I’ll share with you one practical tip that you can use.
Now, I meet a lot of dealmakers who talk to me about buying distressed businesses, so businesses that have got themselves in a little bit of trouble, businesses where they maybe aren’t doing as well as they used to be.
Now, let me give you a different way of looking at this.
Instead of looking for distressed businesses, why don’t you look for a distressed business owner, so the business is absolutely fine but the business owner is stressed, has had enough, wants to get out.
So, change your thinking.
Don’t look for distressed businesses, look for distressed business owners.