What Type Of Business Should You Buy? | Jonathan Jay | 2023

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Interested in buying an existing business?

In this video, Jonathan Jay, a seasoned expert in business acquisitions, answers one of the most common questions: What type of business should you buy?

With thousands of options available, selecting the right business can be overwhelming. However, Jonathan Jay provides valuable insights and strategies to guide your decision-making process.

If you already own a business, the answer is relatively straightforward: you should seek businesses that align with your existing operations, allowing for potential mergers or expanding your geographical footprint.

If few businesses exist within your sector, considering complementary businesses with a shared customer base can be a wise move, presenting cross-selling and upselling opportunities.

Another approach is to acquire multiple businesses in the same sector but in different locations, and consolidating back-end functions such as finance, HR, and marketing.
For those who don't currently own a business, Jonathan Jay suggests starting with what you know.

Leverage your personal experience or consider a business you have previously worked for to capitalise on your existing knowledge. This familiarity can significantly shorten the learning curve associated with buying and operating a business.

If you're uncertain about any particular industry, Jonathan Jay advises focusing on straightforward and simple business models. These are businesses where customers pay for a product or service, creating a scalable and sustainable revenue stream. Remember, it's crucial to understand the business you're acquiring to avoid potential challenges and ensure a smoother transition.

Furthermore, having an industry expert or adviser on your team can be immensely beneficial. Seek someone with deep knowledge of the business you intend to buy, who can guide you and help avoid common pitfalls. Although they may not be a full-time employee, their insights and guidance can greatly accelerate your progress and increase your chances of success.

If you are interested in knowing more about business acquisition strategy, this video is a must-watch!

Видео What Type Of Business Should You Buy? | Jonathan Jay | 2023 канала Jonathan Jay