The Harsh Reality of Buying a Business - With Jonathan Jay 2023
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- Опубліковано 2 лис 2022
- Your free training on how to buy a business without cash is here: bit.ly/3PSNKkQ
Looking to acquire or buy an existing business?
Interested in business mergers and acquisitions? Want to know how to purchase a business and create a successful acquisition strategy?
Look no further!
In this video, acquisitions expert Jonathan Jay interviews Cliff, an expert who has spoken to over a thousand business owners interested in selling their businesses. Cliff shares his insights and observations about the lack of preparation and understanding among business owners when it comes to the exit process.
If you're interested in acquiring a business or have considered buying an existing business, this video is a must-watch! Learn from Cliff's experiences and gain valuable knowledge on how to navigate the acquisition process successfully.
Discover the different types of business exits available, including selling to strategic buyers or private equity-backed buyers, management buyouts, internal sales, and even liquidation. Understand the factors that influence the choice of exit strategy, such as the owner's post-exit plans, business size, and financial considerations.
Key topics covered:
• The importance of having up-to-date financials and real-time bookkeeping for informed decision-making.
• Understanding and mitigating risks associated with owner reliance, customer alliances, supply chains, and employee reliance.
• The dangers of relying heavily on one or two individuals within a business and the potential consequences.
• Strategies for reducing reliance on key employees and documenting critical processes.
• Case studies and real-life examples of businesses facing challenges due to employee reliance and lack of control.
• Quick wins for business owners looking to sell in the next six months.
• The significance of talent acquisition, financial understanding, and strategic planning for business owners.
• Balancing the risks of employee turnover when acquiring a business and the role of due diligence in mitigating these risks.
• The importance of company culture and cultural fit in successful acquisitions.
Don't miss out on the essential tips and advice shared by Jonathan Jay and Cliff. Find out why being ‘exit ready’ is crucial for any business owner and how to integrate exit planning into your overall business growth strategy.
Discover the role of accountants, consultants, and advisers in helping you prepare for a successful exit.
If you want to ensure a smooth and efficient business acquisition process, be sure to watch the video and gain valuable insights from our experts.
If you enjoyed this video and 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 bit.ly/3PSNKkQ
Thank you!
Another great video! Learned so much, thank you 🙏🏽
You're so welcome!
This is my experience too. Even with my small gained knowledge, I already outperform business sellers on their process. The more I dive into it, I like cleaning up things. Making things beautiful and valuable. Maybe a female way of expressing myself. It is also a great way to learn communication. There's such a great disparity between expectations. Sometimes I think dis-motivated sellers. They want to sell, but then throw in the towels, because they can't have it their way right away. There's lots of emotional management involved. A big challenge especially for price and bargain negotiators.
Great interview! Frequently the terms documents, and operating procedures can be simply summed as a Quality Assurance Management System - ISO 9001
Interesting.
Absolutely!
I really want to be part of your master mind team and learn more to buy a business.