Overcoming Imposter Syndrome in Business Acquisition with Vicki Espin

Leveraging Personal Branding for Business Success In this episode of Business Buying Strategies, host Jonathan Jay introduces personal branding expert Amelia Sordell. Amelia discusses the crucial role personal branding plays in the success of business acquisitions, focusing on maximizing LinkedIn presence to attract more opportunities and investments. She emphasizes personal content's power to achieve up to 561% more reach compared to company messages, illustrating the concept of perceived value with an Evian water comparison. Amelia provides actionable strategies for building a compelling personal brand on LinkedIn, including defining goals, understanding the target audience, and being consistently engaged online. Additionally, she highlights the importance of being conspicuous and interactive on platforms to increase value and attract potential acquisitions and partnerships, ultimately leading to more profitable business ventures. 01:09 Introducing Amelia Sordell: The Importance of Personal Branding 01:52 The Power of Personal Branding in Business 03:58 Understanding Personal Branding and Its Impact 09:07 Building a Strong Personal Brand on LinkedIn 09:10 Practical Tips for Effective Personal Branding 17:42 Monetizing Your Personal Brand 26:16 Final Thoughts and Key Takeaways   ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

In this episode of 'Business Buying Strategies,' Jonathan Jay introduces Vicki Espin, who discusses overcoming imposter syndrome, particularly for new business buyers worried about their lack of experience.  Vicki emphasises that impostor syndrome affects everyone at different stages of life and offers insights on the roots of these feelings and practical advice on managing them. She highlights the importance of understanding one's motivations and beliefs to overcome doubts and fears related to business acquisition. She offers practical strategies to acknowledge and address their imposter syndrome, helping to build confidence and encourage proactive steps in their business ventures.  Key moments 01:07 Introducing Vicki Espin: Tackling Imposter Syndrome 02:12 Vicki’s Insights on Imposter Syndrome and Business Success 09:54 Understanding and Overcoming Imposter Syndrome 18:11 Identifying and Challenging Your Imposter Syndrome 24:36 Practical Steps to Combat Imposter Syndrome 28:59 Reframing Your Thinking and Taking Action 32:18 Closing Thoughts and Encouragement ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

In this week’s episode of the podcast, we feature highlights from peak performance coach Nigel Risner’s presentation at our last Dealmakers Retreat on how to get deals done and negotiate with vendors. During the presentation, Nigel delivers a masterclass on why some people are more effective than others in a negotiation, how to connect with and understand the other party to get the best deal and why you need to go deeper to understand why you’re not getting the results you want.  This is packed with valuable insights and practical suggestions that will make a difference in your next negotiation. Here is what you will discover… 👉 The No.1 reason why people go to work (and how understanding this helps you negotiate better) 👉 Why money is not the biggest motivator for vendors (and why focusing on money is a bad idea) 👉 Why your past behaviour is the biggest driver of your future behaviour (and how to change it) 👉 Why you need to be 100% present with a vendor to close deals successfully 👉 The #1 thing that gets in the way of connecting with a vendor (this kills more deals than you know) Key timings: 01:34 Nigel Risner's Insights on Personal Needs in Business 03:16 Understanding the Importance of Personal Needs in Negotiations 04:52 The Power of Being Present and Engaged 08:30 Overcoming the Past to Create a New Future 11:04 The Impact of Beliefs and Communication on Success 13:48 Seizing Opportunities and Simplifying Deals 15:59 The Psychology of Online Shopping 16:47 Learning from Giants: Amazon and McDonald's 17:53 The Power of Face-to-Face Communication 18:29 Mastering Communication Styles 19:34 Understanding Your Business Zoo 20:01 Navigating the Business Zoo: Monkeys, Lions, Elephants, and Dolphins 25:22 Becoming an Effective Zookeeper in Business 28:49 The Importance of Trust and Self-Belief   ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals the psychology of the buyer and seller during any negotiation for the acquisition of a business. Business acquisition negotiations are primarily a psychological game, with the party who has more information carrying an advantage. Understanding how the vendor thinks from the start of a negotiation and through the various stages of a discussion is essential to building the trust and rapport needed to ensure an open conversation.  Ultimately, the goal is to discover the motivation of the seller for having the conversation in the first place and working with them to find an exit that works for both parties. Listen to the episode to gain an insight into the mind of the seller before your next negotiation. Listen and discover… Here are the key highlights: 01:50 The psychology of buying and selling businesses 04:03 Understanding the seller's emotions and hopes 06:17 The value in knowing buyer's fears and motivations 06:58 The importance of understanding motivation 11:47 Strategies for successful business buying 22:26 First impressions and negotiation tactics 35:32 How to use this information in your next negotiation Here is what you will discover… Why you need to be aware of your own motivations before engaging with a seller (to understand what you need from a conversation) The reason why so many vendors have unrealistic valuations (and what to do about it to secure a great deal) Why knowing more than the other party in a negotiation gives you an advantage (and how to avoid losing the ‘information game’) Why you will lose any chance of a good deal if you turn into a motivated buyer (avoid this at all costs) The No.1 reason why you need to avoid dealing with business brokers (on your first deal, at least)   ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

In the latest episode of the Business Buying Strategies podcast, business growth expert Andy Hemming explains the importance of vision, values and culture in a business in achieving business success post-acquisition. Andy discusses strategies for creating a positive culture that attracts quality employees and sustains growth. The episode covers practical frameworks for identifying and reinforcing a business's core values, structuring the organisation, and optimising operations through effective systems and processes, ultimately advocating for the systematic approach to building and integrating an acquired business for long-term success. 00:00 Welcome to Business Buying Strategies 01:09 Introducing the Business Buyers Toolkit 01:50 Vision, Values, and Culture: The Key to Business Success 02:24 The Power of a Compelling Vision 03:23 Recruitment and Culture: Attracting the Right Talent 06:47 Defining Core Values and Building Culture 12:20 Identifying and Leveraging Your Team 17:01 Creating Consistency Through Systems and Processes 23:03 Conclusion: Taking Action for Success ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In the latest episode of the Business Buying Strategies podcast, business growth expert Andy Hemming explains how to oversee the performance of your business and drive growth without getting involved in the day-to-day operations. As a business investor, you need to avoid being drawn into daily management. Yet you also need to set the direction and focus on the business while holding the management team accountable. In this episode, Andy Hemming explains how to get the best from your management team and oversee growth by tracking the right metrics and KPIs, how to use the business cycle to create a loop of continuous improvement and why it is essential to build systems that support growth and guarantee consistent results. Andy punctuates his presentation – recorded at the last Dealmakers Retreat in Marbella – with real-world success stories and examples.  Whether you are an experienced business owner looking to increase the value of your existing business or you are a new dealmaker looking to acquire your first business, this is the episode to listen to and make notes for practical strategies and tools to grow and scale a business. Here are the key highlights: Why most business owners are really technicians in their own business Why a mindset change is often needed before a business can grow The 8 key drivers that influence the value of a business – according to John Warrilow Why reliance upon the owner is a major issue for any business How one business owner went from working 60 hours a week in his business down to just one hour a week The four simple steps of the cycle of business Why it is important to identify causes rather than deal with effects Why you need to focus on delegation, not abdication Why systems are so powerful in a business How accountability plays a role in guaranteeing performance Why your thoughts create your actions The value of setting performance standards The reasons why businesses do need to meet their growth goals Why the availability of objective information is essential to business growth How to use a dashboard to monitor operational effectiveness Why you need to think like an investor - not a manager Here is what you will discover… Why most business owners need to shift their mindset when it comes to growing the business Why a business that is reliant on the business owner will struggle to grow (and will never be as valuable) What specific metrics and KPIs you should be looking at, as the owner of the business (these are different to what a manager or staff member should be tracking)  Why it is important to understand the cycle of business (in four easy steps) Why most business owners get the cause and effect mixed up (and why most of their time is spent firefighting) Why systems are the most powerful tool in a business to create growth  Why most businesses do not have any systems of any kind (and why that is an opportunity for a dealmaker) Why it is important to define – and enforce – performance standards (it’s all about expectations) Why owners need to set better goals to achieve the growth they want The two primary blockers to achieving growth goals (these are the same for 99% of businesses)  Why building a dashboard is essential for oversight and accountability  Why driving your business by your bank account does not give you the full picture Why you need to think more like an investor than a manager (and how that impacts the information you need from the business) Why better performance for the wider business begins by looking in the mirror (even as an investor, you set the standard) Why ownership is key to ensuring everyone plays their role in the business (you need to think like a sports team) Why you need to articulate your vision to the wider team (if you want everyone moving in the same direction) The simple question that can uncover most of the performance issues in your business (in a matter of minutes)   ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals the rules for executing a successful Buy and Build strategy. The Buy and Build strategy is a popular with Private Equity firms. It involves acquiring multiple businesses and rolling them up together to create a business worth far more than the sum of its parts. However, there are plenty of risks along the way for the inexperienced dealmaker.  In this episode recorded during the Dealmakers Retreat in Marbella earlier this year, Jonathan explains the benefits of using a Buy and Build strategy and how to avoid the potential challenges that come with it. He highlights the important differences between organic growth and acquisition growth, the principle of increasing a business's value through strategic acquisitions, and the crucial role of getting financials right. Jonathan also topics like validating the business model, managing people effectively, selecting quality businesses, de-risking by tying in the seller, and the reason why you might choose not to consolidate your acquisitions into one overarching brand. If you are looking to rapidly increase the size of your business through acquisition, you need to listen to this episode. Here are the key highlights: 01:50 Exploring the Buy and Build Strategy 03:19 The Power of Acquisition Growth 04:23 Leveraging Private Equity for Business Expansion 06:58 The Financials of a Successful Buy and Build 13:21 Networking and Valuation Insights 14:19 Validating Your Business Model 18:31 The Importance of Investing in People 24:14 Day-to-Day Management and Quality Control 26:19 The Significance of Buying Quality Businesses 27:48 The Importance of Choosing Quality Businesses 29:06 De-risking by Tying in the Seller 32:45 The Strategy of Non-Integration in Business Acquisitions 34:05 Managing Change and Cultural Integration 37:52 The Critical Role of Cash Flow in Business 43:39 Building a Strong Head Office Management Team 46:42 Embracing the Journey of Becoming Better Business People Here is what you will discover… Why everything takes longer and costs more than you expect going through your first acquisition (the next acquisition is always easier) Why your biggest challenge integrating businesses is staff (and what to do about it) Why you need to be clear on your exit objective to drive your Buy and Build strategy forward  Why you should never overpay for a business (even if it feels like a must-have) Why understanding deal multiples is key to a highly lucrative exit (when you play the Private Equity game) Why training your staff is the secret weapon to growing your business Why you need to be aware of your flaws so you can hire people who meet those needs Why the day-to-day management of a business has to work without your involvement (unless you want another job) Why you have to keep a close eye on cashflow while pursuing a Buy and Build strategy ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Watch my FREE Dealmakers webinar training: https://www.dealmakerspodcast.com Get a FREE copy of my book: https://www.thedealmakersacademy.com/free-book-giveaway Join the Business Acquisition FastTrack course https://www.thedealmakersacademy.com/quick Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information.

In this week’s episode of the Business Buying Strategies podcast Jonathan is in conversation with James Khan, renowned for his time on Dragon's Den and his expertise in business acquisitions. James shares his journey from starting a small recruitment business to building Alexander Man into a global leader in talent solutions, emphasizing the strategy of 'buy and build' for achieving scale. He discusses the importance of not taking on too much personal risk during acquisitions, the value of due diligence, especially regarding cultural fit, and his approach to financing deals without jeopardizing personal assets. James shares the lessons he has learned from a failed venture in Benjy’s, a sandwich shop business, and underscores the critical importance of understanding the business sector you're entering into. The episode provides valuable insights into building a successful acquisition strategy, the pitfalls to avoid, and the significance of integration post-acquisition. Key moments 00:51 Special Episodes: Behind the Scenes at Marbella Retreat 01:14 Introducing James Khan: A Business Buying Expert 02:06 James Khan's Journey: From Recruitment to Global Success 03:28 The Strategy of Buy and Build 06:31 Financing Deals Without Risking It All 11:29 A Deep Dive into a 12 Million Pound Acquisition 15:04 The Importance of Due Diligence and Cultural Fit 17:54 Learning from Failures: The Benji's Sandwich Shop Story 21:51 Minimizing Personal Risk in Business Acquisitions 23:10 The Art of Successful Business Integration ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

The Power of Action in Business Acquisition The difference between success and failure in business acquisition is not about how much you know. What stops most people from buying their first business is their mindset and belief.  You can watch hours of YouTube videos, listen to hundreds of podcast episodes, and attend countless M&A networking events, but none of it has any value unless you take action.  In the latest episode of the Business Buying Strategies podcast, listen to Jonathan Jay’s keynote speech from our recent Dealmakers Marbella Retreat, in which he discusses the power of action. In the episode, Jonathan reveals his journey of selling his publishing company, why belief matters, what it takes to move from inertia to momentum, why your environment matters and the role of attitude in business acquisition. If you have been procrastinating and delaying getting started, we recommend you listen to this episode. It could provide you with the kickstart you need. Here are the key highlights: 01:16 Jonathan’s story of selling his publishing company 02:10 How Brian Tracy Influenced Jonathan’s self-development 05:22 Why belief is a superpower for business buyers 06:27 Why your language and thoughts may actually be imposter syndrome talking 06:56 How selling a business transforms your life  07:59 Why it is important to try – even if you fail 08:46 Why detachment is your best strategy in a vendor negotiation 09:27 How education contributes to your success 10:05 Why getting involved is a key indicator of success 11:42 How your environment and who you surround yourself with matters 13:24 Why attitude is foundational to business acquisition success 13:59 Why the sky is the limit with effort and focus 19:20 How to overcome inertia and build momentum In this episode, you will discover: How selling his publishing company transformed how Jonathan thought about buying and selling businesses Why you need to think A.C.T. if you want to build momentum in your business buying  Why your environment matters if you want to continue to level up your thinking (and the benefits of surrounding yourself with success) How an enlightening encounter with Brian Tracy influenced Jonathan’s personal development  Why imposter syndrome holds so many dealmakers back (and how it shows up in ways you don't expect) Why you need to be detached emotionally when you negotiate with vendors (and why deal flow is key) How to move from inertia to momentum (and keep your momentum going) ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy

What size of business should you buy first? In the latest episode of Business Buying Strategies, Jonathan Jay offers guidance to first-time business buying on some key decisions to make when targeting their first acquisition.  Jonathan highlights elements to consider such as business size, owner involvement, business location, and the time commitment for the acquisition. He stresses the concept of not buying a business for just one pound, given the assumed liabilities can be burdensome, especially for first-time buyers. Jonathan recommends buying a solid, profitable business and using other people's money instead of taking on a distressed business. He also suggests strategies for negotiating, understanding the seller's motivations, managing the risks involved, and thinking about the business's exit strategy from the beginning for a more profitable result. If you are about to start your business buying journey, this episode will give you all the answers you need to these important questions.  Here are the key highlights: 00:00 Introduction to Business Acquisition 01:09 Guidelines for Your First Business Acquisition 03:30 Location Matters: Where Should Your First Acquisition Be? 05:02 Time Commitment in Business Acquisition 08:28 The Pitfalls of Buying a Business for One Pound 11:33 The Ideal Business for Your First Acquisition 16:57 Negotiating a Deal: The Power of Words 24:03 Golden Rules of Business Acquisition Here is what you will discover… Why you should avoid making owner-managed businesses for your first acquisition (who do you think is going to fill that void when they leave?) Why everything gets harder if you get your first acquisition wrong (it’s why this is such an important decision) Why it’s vital to figure out the cost of replacing the owner-manager with a manager paid market rate Why the million pound revenue mark is a good indicator for business buyers Why buying a business in another country as your first purchase is not a good idea (you’re buying a lot of inconvenience for your first deal) How shopping local is a good idea for acquisition entrepreneurs when starting out Why it is realistic and entirely possible to buy your first business while working a 9 to 5 (in fact, business owners prefer to speak out of hours) Why you need to switch your mindset from doing everything to leaning on your Deal Team to work through the process (the sooner you do this, the faster your progress) Why buying a bigger business actually gives you more time rather than less (you’re buying a working infrastructure with a bigger business)   ** Looking for a great acquisition lawyer in the UK? Use mine! ** If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. Ready to get started? Here’s how you can start your business buying journey… Download our free Business Buying Toolkit https://dealmakers.co.uk/business-buying-toolkit Join our Business Acquisition FastTrack programme https://www.dealmakers.co.uk/fast Already bought a business? if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on [email protected] for more information. Connect with Jonathan Jay at: Website: https://www.dealmakers.co.uk LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy