Buying a business can be one of the most challenging, yet rewarding experience a business owner can go through. Acquiring a new business is a process that involves many challenges and unexpected paths, which a good amount of preparation and strategy can prepare for. Using my knowledge of reviewing over 500 potential business acquisitions/investments and being involved in over $4BN of mergers, acquisitions and investments, I’m here to help you develop the process and prepare yourselves to accomplish your goal.

BUYING A BUSINESS

There is little doubt in my mind that as the new generations come into their own (in the working world) that I believe there will be a shift away from large consolidated industries/players towards many small niche players. I also believe with the retiring of the baby boomer generation there will be a significant number of businesses for sale in the next decade. Both of these trendlines lead me to the conclusion that there will be a lot of businesses to be bought in the near future. I am also a firm believer that owning your own business is a direct path to wealth in this country which is why I care to share the message. I also believe there are lots of benefits to owning a company that people should enjoy – decide your own schedule, work as much/little as you want, pick your own strategic direction, the emotion = joy of winning for yourself and the defeat when you lose… That being said, acquiring a business is not an easy process to go through. Most people do not know how to go about it, what they themselves should expect in the process, the sacrifices they will have to make personally, the funding and protections they should have in place. Or, quite frankly, how to even manage such an entity once they buy it. Further, even if some of these people are capable managers, do they know what they should do the first day they walk into the business; how about in the first 30, 60 and 90 days?

PERSONAL BUSINESS BUYING HISTORY

I have seen this firsthand with my father as well as my wife. Two people who walked right into buying / starting a company without any real understanding of what they were getting into. There is a saying that “If you ever knew what starting (or buying is used here) a business would entail, you never would have done it” – that’s a phrase I have heard many time. It’s a reality, and it’s also unfortunate and in many ways avoidable. People who want to buy a business should care about listening to me because I have personally acquired 8 companies and started 4. I have been through this process many times myself – and been through it as a husband, a son and a friend many times as well. Leads to lots of lessons to share.

CONCLUSION

The success of a company is heavily dependent on the success of its management and operations functions. Shep consults with companies to help them fine-tune their day-to-day strategy and tactics to help them grow their companies, so they con work on their business, instead of in it.

For more blogs and more information, please follow me at www.johnasheppard.com for more information and the services I provide.