Dave Lukas Chats with Jonathan Jay
331: How to Find, Negotiate, and Buy an Business with Dealmakers Founder, Jonathan Jay
This week’s Misfit Entrepreneur is Jonathan Jay. Jonathan is a serial entrepreneur. He dropped out of college at 19 to start his first business and since then he has built and sold businesses in everything from publishing and digital marketing to education. During the pandemic, he made 48 business acquisitions alone.
Jonathan is a prolific deal maker who has a passion for teaching others how to buy and sell businesses. Through his company, Dealmakers, he and his team have helped over 12,000 clients from beginner to seasoned entrepreneur succeed in finding, acquiring, and/or selling businesses. He is also the author of the best-seller, Business Buying Strategies. In the book he shares some of his best secrets on how to buy a business with no money and that is one of the many topics I want to focus on with him in this episode.
Jonathan dropped out of college at 19 to start a business. He spent several years bouncing around surviving as an entrepreneur. A few years later he had a publishing business that was doing OK when someone came along and offered to buy it and he realized that he would make money selling it than owning and operating it. This was an “aha” moment for him.
“In business, so many people are business operators who work every day to operate the business, where the real freedom and real money comes from selling businesses.”
Jonathan says that It is much easier to sell businesses that you have bought vs. built from scratch. Over the last 20+ years, he has sold companies and bought them. During the pandemic, he bought 48 businesses and has turned around distressed business making all the mistakes possible in his journey.
For the last 6 years, he has been teaching others how to buy their first while limiting the risk in doing so.
Why should someone consider buying a business vs. starting one?
How do you find a business to buy?
Where do you find motivated sellers?
What happens when you find a business owner that seems like a good fit?
At the 16 min mark, Jonathan walks through his negotiating technique.
How do you negotiate buying the business without putting all your own money on the line?
Talk to us about the mistakes you made and what you’ve learned…
What are 2 of the best lessons you’ve learned to succeed as an entrepreneur?
Tips to scale and grow a business?
Misfits, Can we talk about notifications for a second? Who actually leaves those sounds on anymore?
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Misfits, it’s not often that I come upon a truly unique business that grabs my attention and shows me a completely new way of creating a side-income or even a 6-figure income with very little effort on my part. In fact, most of the time, opportunities that promise this type of experience are too good to be true and don’t pan out. But there are ones that do, and I found one in Ecom Automation Gurus.
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It is truly done for you business management. They create your e-commerce store, select the best products in the most demand according to their proprietary processes and manage all of the sales and client support for you. With YouTube, they create and manage pages that generate income from advertising. And when I say, “done for you,” I mean done for you. They handle product research, product listings, customer support, optimization, full client support for you the business owner.
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In fact, I like their model so much that I am customer, and I can say the experience has been awesome!
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