How I Bought a £17m Empire! Jonathan Jay 2023
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- Опубликовано: 29 июн 2024
- Your free training on how to buy a business without cash is here: bit.ly/3vB9Elq
If you are looking to buy an existing business or learn more about business mergers and acquisitions, this video is a must-watch. In the second of two interviews, Jonathan Jay interviews Sam Turner, who started his career as a footballer before entering the world of finance and accountancy.
Today, he is a successful businessman with £17 million worth of businesses in his portfolio.
Jonathan Jay and Sam Turner discuss the process of buying an existing business and what to expect on day one. Sam Turner emphasises the importance of consistency and communication in the acquisition process, particularly in settling employees' fears of job loss.
He shares a positive signal of intent that his team demonstrated to employees by giving them small gifts on the first day of acquisition.
Sam Turner gives tips on how to make the transition as smooth as possible, including being present on-site initially and filling communication voids with positive gossip. He also talks about the importance of having a CFO in place after acquiring three businesses, the funding aspect of the deals, and how he worked with the finance managers he inherited.
Sam discusses his approach to buying small businesses, which involves providing benefits to the sellers such as access to a collaborative initiative across the group, cross-selling to each other's clients, and leveraging best practices.
He also highlights the significance of having a framework to make a business more scalable and how he uses the entrepreneurial operating system (EOS) to manage his businesses effectively.
Jonathan Jay and Sam Turner offer some tips on how to navigate the acquisition process, including building a deal team and managing the deal process. They touch on how to fund acquisitions through commercial debts, equity, and deferred considerations.
Sam also talks about the importance of understanding the legal aspects of acquisitions and how to manage contentious issues between lawyers. Lastly, they discuss HR aspects and how to optimise HR resources at the group level.
If you're interested in acquiring a business and learning how to purchase a company, this video is for you. Watch now to gain insights into business mergers and acquisitions, buying an existing business, and the benefits of having the right team in place.
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/3vB9Elq Thank you!
Hi Jonathan. Does your course cover ecommerce and buying website businesses? Thanks!
@@khalillio Maybe Jonathan will chip in in the future, but I can answer already your questions since I was doing exactly the same thing when I joined.
Yes it covers all sectors. Why? Because Jonathan teaches a framework on how to acquire businesses. You decide which sector you go for. If you go for e-commerce, go ahead! You just need to remember that businesses that seems easy/appealing to you at first might not be the best business to acquire since it all about financing the deal.
Great stuff with EOS. Thanks Sam and Jonathan for the tip!
I would like to know how we can use money in the business bank account if we need 3/6 months operating expenses in the bank as cash flow
because 'working capital' and 'retained profits' are two different things
@@theDealmakers ah thank you. This is why I need mastermind. Need some money first!