12 Business Buying Mistakes (and how to fix them!)
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- Опубліковано 2 чер 2024
- Your free training on how to buy a business without cash is here: bit.ly/43AtsBW
Buying a business can be so rewarding, but if you're new to business acquisition, there are so many potential pitfalls that stop you getting the best deal... or can stop the deal from happening completely.
In this video, Jonathan Jay shares 12 of the most common business buying mistakes and how to avoid them. If you're thinking about buying a business, or maybe you're in the process of an acquisition already, then this is must-watch video. The information Jonathan shares can help you avoid the same traps and mistakes that a large percentage of new buyers typically make.
This video could save you so much time, money and frustration, and help you get the very best deal and terms during negotiations.
0:00 12 business buying mistakes
0:10 Buying a job, not a business
1:15 Spending your own money
4:44 Overpaying
7:39 Not understanding the business
9:43 Quitting your day job too early
12:04 Thinking too small
14:16 Not getting the right team
16:08 Not having enough cash
19:03 Buying a distressed business
22:08 Not understanding the seller's motivation
24:57 The business reputation
26:47 Insufficient due diligence
#businessbuyingmistakes #businessacquisition #buyingbusinesses
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/43AtsBW Thank you!
great video , how would you fund such businesses through acquisition/leverage finance , they normally ask for your experience and your own wealth though
Great summary Jonathan.
Super excellent info. Thank you! 🙏
Glad it was helpful!
Excellent video Jonathan.
So help me understand as I may of misheard this
With regards to the DEAL TEAM
you need a lawyer, a accountant and did you say a cpi... is so what is a cpi
A CPA is what they call an accountant in the US
Wish there was a mentor ship step by step process
Thanks for the video. I’m from California it’s really hard to buy here . I need a team or maybe I will find a lawyer. Thanks!
You have a very large business community - I think that you maybe don't have the system to follow - dealmakers.co.uk
I’m about to reach out to an owner about buying his business that’s available for purchase. Should I mention how I’m new to the world of buying businesses? Or would that do more harm than good?
why do you feel the need to tell them you are a beginner?! I'm not sure it needs to be mentioned at all - as long as you can deliver, who cares that you are a first time buyer?
@@theDealmakers I’m not sure, I just thought it might be good to mention because I don’t entirely know what I’m doing yet. But thanks!
If you are not sure what you are doing, please do NOT talk to owners until you are 100% confident with the process, how to value and negotiation!