• Business acquisition - avoiding the common pitfalls

  • Sep 26 2024
  • Length: 36 mins
  • Podcast

Business acquisition - avoiding the common pitfalls

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  • Summary

  • In this episode of the Business Buying Strategies podcast, Jonathan discusses the critical difference between buying a business and merely buying a job. We conclude the discussion about the psychology and expectations of both buyers and sellers, featuring insights on maintaining a strategic mindset to avoid becoming trapped in day-to-day operations. Jonathan emphasises the importance of acquiring businesses that are large enough to support management, thus allowing buyers to focus on growth rather than operations. The conversation also touches on practical considerations such as ensuring cash flow and understanding the true financial health of a business. Jonathan is joined by an experienced accountant, Johan, who offers advice on sense-checking potential acquisitions, highlighting the importance of cash flow over profit figures. Johan also shares practical tips for using modern accounting systems to facilitate smoother due diligence processes. Key moments 01:32 Avoiding the Trap of Buying a Job 03:35 The Importance of Management in Business Acquisition 06:52 Mindset and Strategy for Successful Deal Making 11:44 Psychology and Expectations of Buyers and Sellers 15:35 Building Confidence and Control in Negotiations 22:28 Understanding the Business Sales Process 25:48 The Role of Accountants in Business 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…

    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.
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