Business acquisitions require identifying and evaluating potential businesses to buy, conducting thorough due diligence, and understanding financial statements to mitigate risks. Acquiring established businesses with proven cash flow offers significant benefits, and having an experienced team is crucial to navigate the complexities of the acquisition process.
Jon Stoddard is an expert in business acquisitions and the founder of DealFlowSystem. With over 20 years of experience in technology and software companies, Jon has successfully bought, managed, and sold multiple businesses. He also coaches aspiring business buyers through his comprehensive courses and group coaching sessions. Learn more about Jon and his services at https://www.dealflowsystem.net/ and connect with him on LinkedIn: https://www.linkedin.com/in/jonstoddard/
Timestamps
1:01 Introduction to Business Acquisitions
2:50 Guest Introduction
4:20 Importance of Longevity in Acquisitions
6:30 Jon’s Background and Transition to Business Acquisitions
8:00 Challenges of Startups vs Buying an Existing Business
12:00 Avoiding Common Pitfalls in Business Acquisitions
15:00 The Importance of Due Diligence
18:15 Overcoming Business Reputation Issues
21:30 Key Financial Statements to Review
27:00 Biggest Obstacles to Business Acquisition Success
30:00 The Power of Mentorship and Coaching
33:00 The Importance of Knowing Your “Why”
35:30 Staying Focused and Eliminating Negative Thoughts
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