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15 Minutes To Action – 6 Insights To Consider When Buying And Selling Businesses

In this week’s edition of ’15 Minutes To Action’, Nick talks through the sometimes mystifying subject of how to best buy and sell a business. it’s a question he’s asked often, and so in this show, Nick shares with you the six insights that have taken him to the top of his game over the past fifteen years.

KEY TAKEAWAYS

  • In the world of business acquisition there are currently two dynamics: 
    • Business owners who have been successful over the past decades, but who are reluctant to commit to another period of having to provide strength and growth.
    • Businesses who are looking at acquisition in a much more focussed and strategic way, and who see the value in quickly scaling through acquiring a client base.
  • If you’re selling a business, you need to make sure your areas of due diligence are working well, and if you’re buying you need to make sure there are no skeletons in the closet that will decrease potential value.
  • Make sure you use your data in a very powerful way. Consider systems and metrics early, as you’ll be surprised later on, by how difficult it is to work without it when you need it. Keep records, implement systems and keep on top of it.
  • You must manage the way in which you influence and negotiate all the way through a sales process. It’s case of framing. Remember that a deal isn’t done until the agreements have been finalised. The really hard work comes in the validation process.

BEST MOMENTS

’The world we know is not going to back to the way it was’

‘Pace and scale are important’

‘Have the discipline and the metrics lined up!’

‘You’ve got to be strong. You’ve got to be able to stay true to what you’ve created’

VALUABLE RESOURCES

Scale Up Your Business – scaleup.vip/podcast

Join the free Scale Up Your Business community: scaleup.vip/community

Take the Six Peaks of Value Creation Scorecard, to measure your current business performance and show you where to focus to get to where you want to be: https://scaleup.vip/sixpeaks

ABOUT THE HOST

My name is Nick Bradley. I’m an entrepreneur, author, speaker and investor. My background is in growing and scaling VC and Private Equity backed businesses.

Having successfully built, bought and sold a number of companies, and removed myself from day-to-day operations, my focus now is on helping entrepreneurs get to where they want to be, in business and in life. As well as investing in growth businesses and backing turnarounds – with the ultimate aim of creating value from significant capital events.

I’m passionate about personal and professional development – showing up and being the best version of myself … every day.

My bigger vision is to help bring entrepreneurial skills, experience and mindset to people in developing nations – so they can follow their dreams, live life more on their terms – utilising entrepreneurship as a global force for good.

CONTACT METHOD

Nick’s Facebook Page: https://scaleup.vip/FB  
Nick’s LinkedIn: https://scaleup.vip/LI  
Nick’s Instagram: https://scaleup.vip/IG  
Scale Up Your Business website: https://suyb.global