The Business Buying Strategies Podcast comes from The Dealmaker's Academy, the world's leading training on buying and selling businesses - without risking your own money!
Each week we talk to leading experts, discuss business buying strategies, offer hints and tips and cover the essential skills you will need to buy and sell businesses effectively.
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Données mises à jour le 25/09/2026
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#352 Using AI and the role that business partners can play
Épisode 352
jeudi 28 mai 2026 • Durée 37:45
Host: Jonathan Jay
Format: Live panel Q&A — Riverside Studios, Hammersmith
Guests: Seven Inner Circle members
Overview
Two big topics dominate this episode. First, the Inner Circle share exactly how they're deploying AI — not in theory, but in practice, right now. Then the conversation shifts to business partnerships: what makes them work, what makes them fail, and two cautionary tales from panellists who learned the hard way.
AI in Practice
The panel go well beyond buzzwords. One member is building private internal large language models to train salespeople rather than replace them — capturing every call to create an expert system. Another has automated six hours of compliance work per client into seconds: call recorded, transcript uploaded, CRM populated, recommendation letters generated, all without human input. A third used Claude to sift 200 job applications down to a ranked shortlist and hired the top candidate. Practical tools mentioned include Otter, Fireflies, and Crisp (for analysing discovery calls). The panel's warning: AI will tell you what you want to hear — always interrogate the output.
Business Partnerships — the Honest Version
The panel are candid. Partnerships almost always end, and rarely cleanly. One consistent failure mode: one partner outworks the other and resentment builds. The advice — never go 50/50, always have a majority partner, write a thorough shareholders' agreement (not a £750 cut-price version), include a 'bad leaver' clause, and build in a fair buyout mechanism where the person making the offer doesn't get to choose whether they're buying or selling.
Jonathan's Partnership Story
Jonathan shares a personal case study: a business growing to £200,000 a week in sales, two indicative offers (one at £21.5m), that collapsed when his partner refused the non-compete clause, withdrew his contacts, and then demanded £10.5m for a stake in a business now in freefall. The legal bill alone was £50,000. The lesson: never skimp on the shareholders' agreement.
Key Takeaways
• Use AI as a thinking partner — feed it your challenges and let it build your plan.
• Automate the admin, free the humans — AI should handle low-value tasks, not replace relationships.
• Never go 50/50 — someone must have the casting vote.
• Spend properly on your shareholders' agreement — it is the cheapest insurance you'll ever buy.
• Build in a buyout mechanism from day one — and agree the exit strategy before you start.
#351 Transferable skills and remaining detached
Épisode 351
jeudi 14 mai 2026 • Durée 23:55
Host: Jonathan Jay
Format: Live panel Q&A — Riverside Studios, Hammersmith
Guests: Seven Inner Circle members
Overview
The Inner Circle panel at Riverside Studios tackle one of the most important questions in business acquisition: how do you remain a strategic investor after buying a business, rather than sliding back into day-to-day operations? The episode also covers sector selection for first-time buyers, and how transferable skills apply across industries.
Stay at the Top of the Quadrant
The panel are unanimous: go in as an investor from day one, not an owner or operator. Getting sucked into running the business is a slippery slope — one panellist warns that 18 months later you can find yourself the accidental Operations Director. Your highest-value task is strategy and growth, not delivery. Buy a platform business with an existing management team, so you can step back immediately.
Choosing Your First Sector
For a former military officer in the audience wondering where to start, the panel's advice is practical: begin by eliminating sectors you won't touch, then follow the private equity money. Subscribe to deal flow newsletters, look for fragmented industries with proven trade and PE buyers, and pick something close to home geographically for your first acquisition. One panellist chose barbershops purely for the cash flow model — no debtors, daily revenue — and used the income to fund school fees and a car. Another built a hands-off holiday let portfolio using other people's money, taking just 15 minutes a week to manage.
Mindset Shifts After Five Years
Asked what they've learned about themselves, the panel give rapid-fire answers: resilience is everything; stop exchanging time for money; you are more capable than you believe. The biggest identity shift for several panellists has been moving from 'business owner' to 'acquisitions entrepreneur' — a reframe that changes how others see you and how you see yourself.
Key Takeaways
• Buy a platform business — one that runs without you from day one.
#350 Confidence, First Deals and Sector Experience
Épisode 350
jeudi 30 avril 2026 • Durée 32:06
From First Deal to Big Exits: What Real Dealmakers Are Doing Differently
Host: Jonathan Jay
Format: Live panel Q&A — Riverside Studios, Hammersmith
Guests: Seven Inner Circle members
Overview
Seven of Jonathan Jay's Inner Circle members — experienced business acquirers — answer unscripted questions from a live audience. This episode focuses on exit strategies, building deal confidence, and how to get a first acquisition over the line.
Exit Strategy
The panel agree: start with the end in mind, but hold the number loosely. One member is building a £25m technology group by 55, with a £100m goal by 60 — but stresses the journey matters more than the figure. Another runs multiple buy-and-build projects in parallel, generating a new exit every 3–6 months and ultimately targeting a move into private equity. The consensus: build like you're selling, even if you never plan to.
Confidence & Competence
Business skills are transferable — sector experience is helpful, not essential. The panel recommend starting with your own supply chain, where trust is already established. Find an accountability partner more productive than you, and lean on your community: you don't need all the answers, you just need people who do.
When Letters Don't Work
One audience member sent 30,000 letters and got just 10 responses — all broker-listed at inflated prices. The panel's diagnosis: check the letter against the proven template, iterate in smaller batches, and never dismiss a broker-listed seller. Reignite their original motivation, get in front of them face to face, and help them see the deal on the table today is more valuable than a higher number that may never arrive.
Key Takeaways
• Your exit goal will evolve — treat it as a waypoint, not a destination.
• Sector experience isn't required — core business skills transfer everywhere.
• the seller already knows and trusts you.
#349 The Psychology of Business Ownership: Why You're the Bottleneck
Épisode 349
jeudi 16 avril 2026 • Durée 26:10
We continue our live panel discussion, recorded at Riverside Studios in Hammersmith, with Jonathan and his inner circle group of experienced dealmakers.
This isn't about tactics, it's about mindset. Because the real challenge in business acquisition isn't finding deals, it's what's happening in your head.
Most people think success in acquisitions comes down to:
• The right sector
• The right deal
• The right timing
But the truth? You are the biggest variable in the entire process.
Your thinking. Your habits. Your willingness to let go.
This episode explores what changes when you stop working in the business… and start thinking like an acquirer.
Why business buying is a mental game first
• Your mindset shapes how you negotiate, source deals, and make decisions
• Confidence and self-perception matter more than technical knowledge
• The biggest breakthroughs come from changing how you think, not what you do
The founder trap (and how to escape it)
· Why building from scratch can cost you years of time, stress, and missed opportunities
· How acquisitions can accelerate growth instantly
· The hard truth: many founders realise too late they took the long route
How to stop being the bottleneck in your own business
#348 The Reality of Buying a Business — What No One Tells You
Épisode 348
jeudi 2 avril 2026 • Durée 33:35
What's it really like to buy a business? Not the Instagram version. Not the "Lamborghinis and Dubai" version. The real version.
In this episode, Jonathan brings together a panel of experienced dealmakers at Riverside Studios, all of whom have completed multiple acquisitions across sectors including property, construction, accountancy, engineering, and more.
What follows is one of the most honest conversations you'll hear about business buying.
Behind the Scenes: Real Deals, Real Numbers
This isn't theory. These are people who have actually done it:
11 deals in 5 years
£17M group revenue
£26M in acquisitions underway
Multiple buy-and-build strategies across sectors
And yet, despite the success… every single one of them has faced setbacks, stress, and deals falling apart.
The Truth: Deals Fall Apart (Often at the Last Minute)
One of the clearest messages from this episode:
Expect things to go wrong.
You'll hear examples like:
Deals collapsing on the day of signing
Sellers changing their mind at the last minute
Lawyers slowing everything down
Weeks (or months) of work disappearing overnight
One dealmaker shares how they:
Rebranded a business
Built a website
Spent £15,000 preparing
…only for the seller to walk away at the final moment
This is normal.
The Emotional Reality
Buying a business isn't just strategic, it's emotional.
#347 From Employee to £6M Business Owner — How One Deal Changed Everything
Épisode 347
jeudi 19 mars 2026 • Durée 27:41
What happens when you stop thinking like an employee… and start thinking like a dealmaker? In this week's episode, Jonathan talks with Pete, a Masterminder who has gone from earning £50k a year to co-owning a group of businesses generating £6 million in revenue — all within just a few years.  Pete's journey started as an apprentice engineer. • One day a week at college • Meeting a future business partner • Years of working for other people • A growing frustration that there had to be something more The opportunity came when they explored buying the business his partner worked in. But the deal dragged on for two years. Nothing happened. Everything changed when Pete discovered Jonathan's approach. Within 6–7 months, the deal was done. The biggest shift? Confidence. Once you realise you can do it, everything changes. Pete highlights a critical lesson most beginners miss: Never rely on one deal. Instead: • Send out letters consistently • Build multiple conversations • Create choice and comparison Because the moment you only have one option, you become a motivated buyer. And that's when bad decisions happen. The Reality of Distressed Deals One of the acquisitions was a distressed "£1 deal". On paper, it looked like an opportunity. In reality? • Key staff left early • Critical knowledge disappeared • Supplier issues surfaced • Unexpected £500k liabilities appeared It was fixed, and became profitable. But the lesson is clear: Distressed deals are not easy wins. Peter sees the biggest learning curve as people. Not finance. Not strategy. Not deal structure. People. Key Takeaways from This Episode
Take action - Waiting doesn't get deals done.
Don't get emotionally attached to one deal - There are always other opportunities.
Don't negotiate yourself out of a deal - Sometimes "good enough" is better than perfect.
Build deal flow - Options give you power.
Surround yourself with the right people - You can't do this alone.
If you're serious about buying a business – and avoiding the mistakes Jonathan outlines – book a free Clarity Call with one of his team:
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
#346 Negotiation, Deal Structuring and Funding: What's Actually Working Right Now
Épisode 346
jeudi 5 mars 2026 • Durée 32:53
Buying a business isn't just about finding the right opportunity. It's about structuring the deal in a way that works for everyone involved.
In this week's episode of Business Buying Strategies, Jonathan hands the microphone to his dealmaking partner Martin, who shares insights from a live webinar with Dealmakers clients.
Martin has been directly involved in hundreds of acquisitions and is currently negotiating multiple deals himself. In this session he explains how real deals are structured, how negotiations actually unfold, and what funding strategies are working in today's market.
This episode is packed with practical advice drawn from real negotiations happening right now.
What You'll Learn in This EpisodeWhy negotiation skills matter more than clever deal structures
Many new dealmakers become fascinated by complex deal structures. But Martin explains that the structure itself is rarely the difficult part. The real skill lies in negotiating terms that work for both sides.
Successful negotiators focus on three outcomes:
• Getting the business cheaper
• Getting better payment terms
• Getting more value for the same price
When you negotiate with these principles in mind, both sides feel they've achieved a good outcome.
Why deal structure can change a business's value dramatically
One of the most striking insights from the episode is how the same business can be valued very differently depending on the deal structure.
Martin shares a real example where four potential deal structures valued the same business between £1.2 million and £3 million. Nothing about the business itself changed. Only the structure of the deal.
#345 What kind of business should I buy?
Épisode 345
jeudi 19 février 2026 • Durée 38:42
What Kind of Business Should I Buy?
If you're thinking about buying a business, this is the question that determines everything. Not how to fund it. Not how to structure it. Not even how to find it.
But what kind of business should you buy?
In this week's episode, Jonathan Jay answers the foundational question every serious dealmaker must get right and explains why choosing the wrong business is the fastest way to sabotage your future success .
Start With the End in Mind
Jonathan opens with a principle borrowed from Stephen Covey: Begin with the end in mind.
Before you even look at sectors or valuations, you need clarity on your outcome. Are you:
Escaping corporate life?
Growing your existing business?
Building a group to sell for seven or eight figures?
Each goal demands a completely different acquisition strategy.
If you want to replace your salary, Jonathan challenges you to aim higher than feels comfortable. If you want to scale your current company, acquisition is the fastest way to move the needle. If you want generational wealth, buy-and-build might be your path.
But the type of business you buy must match the outcome you want.
Why Most First-Time Buyers Aim Too Low
One of the most controversial sections of this episode? Size.
Jonathan argues that most first-time buyers go too small — and pay the price. Businesses making under £100,000 net profit often:
Depend too heavily on the owner
Lack proper management accounts
Have fragile teams
Leave no room for post-acquisition wobble
Instead, he shares what he looks for:
#344 Inner Circle Mambers Panel - Questions and Answers
Épisode 344
jeudi 5 février 2026 • Durée 40:24
In this special episode, you're invited to listen in on a live panel from one of Jonathan Jay's recent Mastermind events — featuring experienced Inner Circle members who have collectively bought dozens of businesses.
This is real talk from real dealmakers.
They've battled through first deals, discovered unexpected sectors, failed forward, negotiated smart structures — and now they're here to share what actually works.
Expect candid insights, live questions from the audience, and stories that will challenge the way you think about dealmaking.
In this panel episode, you'll hear:
✅ Why some people close deals after 9 letters — and others need 9,000
✅ The Domino's Pizza flyer analogy that explains seller timing
✅ How one letter arriving on a seller's birthday triggered a deal
✅ What not to do if you want to avoid buying yourself a job
✅ Why having a "sector" might not matter as much as you think
✅ The power of being the deal maker not the operator
✅ How one member grew to £20M in revenue through targeted acquisitions
✅ The truth about tax structures, holding companies and when to keep it simple
✅ The hidden benefits of buying a business — including instant access to teams, clients, and new energy
You'll also learn what separates the dabblers from the doers — and why mindset, patience, and smart support systems make all the difference.
Whether you're planning your first deal or your next ten, this behind-the-scenes panel offers valuable takeaways, practical strategies, and straight-talking wisdom.
#343 Podcast Highlights 2025 Part 2
Épisode 343
jeudi 22 janvier 2026 • Durée 52:33
In the second part of our special two-part highlights series, Jonathan Jay dives into more of the most impactful, practical, and inspiring moments from the 2025 season of Business Buying Strategies.
Whether you're brand new to acquisitions or have a few deals under your belt, this curated episode brings together essential wisdom from trusted voices in the Dealmakers community.
Here's what you'll hear:
1. The Legal Pitfalls First-Time Buyers Must Avoid
Top M&A lawyer John Andrews shares critical advice for getting your structure right from day one.
You'll learn:
Why a shareholders' agreement is vital — and when to draft one
How share classes, company articles, and director agreements protect you long term
What to expect (and budget) for legal fees
How to choose the right lawyer — and why experience matters more than cost
2. The Real Skills Behind Closing a Deal
Master negotiator Martin, a Dealmakers Circle member, delivers a no-nonsense mindset and negotiation masterclass.
He breaks down:
Why confidence (not cash) is your most powerful asset
How to handle questions you don't know the answer to — without losing credibility
What to say when a seller gives you an unrealistic price
How deal fees, PGs, and over-leverage can ruin a good deal — and how to protect yourself
3. Coffee with Jonathan – Real Q&A with Aspiring Buyers
Join Jonathan as he answers live questions from attendees during one of his informal "Coffee Morning" Zooms.
Topics include:
How to set up the right holding company and deal structure
Why boards of directors are unnecessary distractions for most first-time buyers
• Follow the PE money — if private equity is active in a sector, there's a proven exit waiting.
• Geography matters for your first deal — keep it local and manageable.
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
Ironically, the structure with the highest valuation turned out to be the best deal for the buyer because it produced significantly stronger annual cashflow.
It's a powerful reminder that:
Price alone never tells the full story.
Why preparation matters – but expecting the unexpected matters more
Many first-time buyers believe they need to be perfectly prepared before approaching a seller. Martin explains why this mindset can hold you back. In real negotiations, unexpected moments happen constantly.
He shares a story about visiting a potential acquisition target and discovering—mid-conversation—that the seller spoke Danish, which unexpectedly became a useful rapport-building moment.
The lesson? You cannot prepare for every possible outcome. But you can stay flexible and genuine.
The difference between objections and buying questions
A key negotiation skill is recognising the difference between:
An objection
and
A buying question
Often when sellers raise concerns, they are not rejecting the deal. They are simply participating in the buying process. For example, when a seller asks:
"How do I know you'll actually pay me the deferred payments in the future?"
This is usually a buying question rather than resistance.
Martin explains how to respond by:
• Sharing your long-term vision for the business
• Explaining why reputation matters for future acquisitions
• Highlighting legal protections within the deal
Handled correctly, these moments can build trust rather than derail negotiations.
The most common funding options used in acquisitions
Funding a deal doesn't always require traditional bank loans. Martin outlines several financing options frequently used in acquisitions:
Invoice Finance
One of the easiest and most flexible funding sources, especially for B2B businesses.
Asset Finance
Funding secured against equipment, machinery or vehicles within the business.
Bridging Finance
Often used when property assets are involved.
Cashflow Lending
Possible but generally riskier because it relies solely on the borrower's ability to repay.
Interestingly, Martin's preference is often no external finance at all, using seller-funded structures instead.
These can dramatically reduce risk for the buyer.
The danger of majority share purchases
Another important insight relates to buying majority stakes instead of full ownership.
Martin warns that shared ownership can lead to serious problems if the relationship between directors breaks down.
Whenever possible, buying 100% of the business is usually the cleaner and safer option.
If a minority stake remains, it's essential to agree upfront how future exits will be handled.
How to handle seller concerns about deferred payments
One of the most common objections sellers raise is concern about receiving payments years into the future.
Martin explains how to reassure sellers by emphasising:
• Your long-term strategy for the business
• The reputational damage of failing to honour agreements
• Legal protections within the share purchase agreement
• The mutual incentives to make the business succeed
When positioned correctly, deferred payments become a shared success model, not a risk.
Key Takeaway
The biggest misconception about buying businesses is that deals depend on complicated financial engineering.
In reality, successful acquisitions come down to three things:
• Strong negotiation skills
• Smart deal structures
• Clear alignment between buyer and seller
Master these, and opportunities open up quickly.
If you want to understand how real deals are negotiated and funded in today's market, this episode is essential listening.
Expect practical advice, honest insights, and real-world examples from the front lines of dealmaking.
If you're serious about buying a business – and avoiding the mistakes Jonathan outlines – book a free Clarity Call with one of his team:
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
At least £1m revenue
At least £200k net profit
Stable margins (15–25%+)
Strong management in place
Recurring or repeat revenue
The effort required to buy a £200k profit business is not ten times harder than buying a £20k one. But the impact on your life absolutely is.
The Three Core Acquisition Paths
Jonathan breaks down three common strategies:
Escape the Day Job: Buy a business that produces serious income — ideally 10x your salary.
Grow an Existing Business: Acquire competitors, suppliers, complementary businesses, or geographic expansions.
Buy-and-Build: Acquire smaller businesses at lower multiples, combine them, and sell the larger group at a higher multiple.
He explains:
What fragmented markets are
Why M&A activity above you matters
How multiple arbitrage works
Why strong management becomes critical at scale
And importantly — why one deal can change your life.
The Worst Types of Businesses to Buy
Jonathan doesn't hold back here. Avoid:
Owner-dependent businesses
Fad businesses
Highly volatile or "spiky" profit businesses
Overleveraged acquisitions
Companies reliant on family members
Businesses where relationships walk out the door with the seller
He also explains why buying too small can mean buying yourself a job.
And that's not what this is about.
Funding, Risk and Structure
This episode also covers:
Why over-leveraging kills deals
Why working capital matters more than most buyers realise
Why your first deal is the most important
Why corporate structure must be set up properly
Why personal guarantees should be limited and contained
Jonathan's position is clear:
Deal number one sets the foundation for everything that follows.
Get it right, and you build momentum. Get it wrong, and you may never do deal two.
The Big Takeaway
Buying a business isn't just about buying something. It's about buying the right thing.
With:
The right margins
The right management
The right structure
The right funding
And the right strategic fit for your long-term goal
Clarity at the beginning prevents regret later.
Listen Now
If you're serious about buying a business in 2026 — or even just thinking about it — this episode gives you the strategic filter you need before you start looking at opportunities.
Listen now and make sure your first deal is the right one.
If you're serious about buying a business – and avoiding the mistakes Jonathan outlines – book a free Clarity Call with one of his team:
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
Listen now and learn what experienced dealmakers wish they'd known at the start.
If you're serious about buying a business – and avoiding the mistakes Jonathan outlines – book a free Clarity Call with one of his team:
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
The truth about debt, due diligence, and using ChatGPT for business advice
How to protect your existing businesses when you start acquiring others
4. Jonathan's Live Seminar – No Money Down… Explained
Get an insider listen to a live seminar where Jonathan walks business owners through:
How to buy a profitable business without risking personal funds
The difference between deal flow and deal completion
How to use real estate to complement your acquisition strategy
The 36-month "Buy, Build, Exit" roadmap — and why it starts now
You'll also hear Jonathan's own backstory — including the deal that changed his life, the competitor he bought (and shut down), and what buying 48 businesses during a pandemic really taught him.
🎧 Whether you're looking for clarity, inspiration, or a practical edge — this episode is packed with the real-world knowledge you need to succeed.
If you're serious about buying a business – and avoiding the mistakes Jonathan outlines – book a free Clarity Call with one of his team:
You'll get 15 minutes of expert insight to help you decide which next step is right for you – whether that's attending a Deal Club evening, joining the 3-day Foundation Programme, or stepping straight into the Mastermind.
Subscribe & Review
If you enjoyed this episode, please subscribe and leave a review. It helps more future dealmakers discover the show – and succeed in their first business acquisition.
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