Do You Need A Deal Team To Buy a Business? - With Jonathan Jay 2023

Your free training on how to buy a business without cash is here: https://bit.ly/3Jga3gD

If you want to know more about purchasing a company, join business acquisitions expert Jonathan Jay in this informative video as he discusses the significance of assembling a competent deal team when buying a business.

As an aspiring business buyer, it's crucial to understand the professionals you'll need to navigate the acquisition process and successfully close a deal.

Jonathan Jay addresses a common question from his business-buying courses: do you need a deal team?
The answer is a resounding yes. Buying a business is not a solitary endeavour, and relying on a team of experts is essential.

An accountant plays a crucial role in assessing the financial due diligence of the target company. Similarly, a lawyer is required to handle the legal aspects of the transaction. Depending on the situation, you may also require HR advisers, tax consultants, or other specialists.

Recognise that you may not possess expertise in all these areas, making it necessary to seek professional assistance.

When it comes to selecting professionals for your deal team, Jonathan Jay emphasises that you don't necessarily have to engage the services of large accounting or law firms, especially for smaller acquisitions. The exorbitant fees charged by prominent firms may not be suitable for sub-million-dollar turnover businesses.

Instead, consider local lawyers and accountants who understand your objectives and can provide personalised assistance.

A critical factor in choosing a lawyer for your team is their attitude towards the deal. It's important to have someone who will actively facilitate the transaction rather than hinder it. Jonathan Jay highlights the significance of finding a lawyer who is committed to getting the deal done efficiently, ensuring a smooth and timely process.

Addressing concerns about professional fees, Jonathan Jay suggests working on a fixed-fee basis. This arrangement allows for transparency and control over costs. The invoice for professional services is typically sent to the acquired company after the deal is completed, giving you a reasonable timeframe in which to make the payment.

This approach helps alleviate any upfront financial burden and allows you to focus on acquiring and integrating the business.

Don’t miss this opportunity to learn from serial entrepreneur Jonathan Jay!

Видео Do You Need A Deal Team To Buy a Business? - With Jonathan Jay 2023 канала Jonathan Jay