#195 Business Buying Strategies Podcast

Scale up your business Part 1

In this week’s episode, I’m joined by Paul Avins, a business growth coach, speaker, and mentor. Paul shares some of the most important things with those who want to buy or sell a business. Paul talks about the most important thing to get a business off the ground. He details how one can develop good ideas for marketing and selling their businesses. He also shares strategies for finding good employees and what matters when selling or buying a business.

Key Highlights

[00:00] Paul’s grown-up business concept

[02:36] What most people aspire

[03:54] Success According to some people

[04:50] Biggest things where people make mistakes

[05:34] Reasons why vendors associate the value of a business with the number of years they have run it

[05:54] What matters when selling a business

[10:24] Tips for Building Grown-Up business for exit

[11:14] How you value your own business

[12:30] Questions that most people fail to ask

[14:00] How to come up with the best ideas

[18:30] Biggest challenge when you buy a business

Notable Quotes

• I think some of the biggest robberies in history have happened in boardrooms over pieces of paper, where it looked very innocuous, and people thought, oh, I'm getting a good deal.
• Don't get seduced by the numbers all because you are having a bad month or a bad quarter.
• I often say that your next great idea won't come while you sit behind your desk. Never right. You have to get out of your environment.
• The biggest challenge when you buy a business isn't the P and L stuff. Actually, you can manage all of that. It's actually the people.

Resources

You can connect with Paul Avins on LinkedIn, Facebook, and Instagram or visit his website.

To join the Fasttrack Program, you can connect with Jonathan Jay on Dealmakers Academy, follow him on LinkedIn, or get his videos on YouTube.