Are you thinking of buying a business? Today I’m joined by Louis Biron, COO of One Horn Transportation discussing the importance of having an business acquisition framework.
There is no secret formula to make business acquisitions successful. Like any other business process, they are not innately good or bad. Each transaction must have its own strategic framework. The most successful ventures have distinct, well-articulated ideas going in.
In this video we discuss:
– What to look for when buying a business
– Business brokers
– Valuing a business
– Spotting crooks
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ABOUT PETER BOOLKAH
Hi, I’m Peter Boolkah, business coach, keynote speaker and winner of over 32 major coaching awards.
I know how difficult running a business can be and how overwhelming it can feel when things aren’t going right. One thing I tell my clients is never stop believing in your dreams. Even if you feel your business is wearing you down, you can always find a way to reverse the trend and get back in the game.
Many of the entrepreneurs I work with are great leaders and innovators. However, their businesses lack structure, systems and management. If you don’t have all these parts working in harmony, your business won’t reach its potential. Whether the ultimate goal is to keep or sell your business, you want to see growth year-on-year.
My transition into business coaching came after spending 15 years at McDonald’s. Working for one of the world’s biggest corporate brands exposed me to all aspects of business and gave me the skills and experience to establish my own company.
I know that many entrepreneurs learn by trial and error, but unless you have an endless stream of capital behind you, your chance of success is rare. You often need someone experienced who can analyse your business objectively and put emotions aside when big decisions need to be made.
I’ve been lucky enough to assist many like-minded business owners. These are people who use their success to help those less fortunate. I’ve found that supporting a charity, like B1G1, has given me even more motivation to succeed. It’s wonderful to know that when my business is doing well, many people have the opportunity to live a better life.