A Deep Dive Conversation on All Things Business With Jonathan Jay

Today Mark is joined by acquisition and business strategist and CEO of The Deal Makers Academy Jonathan Jay and together they discuss all things business. Discover today how you can only improve your business skills as the years go on, how to get into a ‘deal flow’ and why implementation will allow you to become hugely successful.   KEY TAKEAWAYS   So many business owners think that they only get one shot at the business. The reality is they can do it again and again and get better as the years go one. The expertise and the knowledge that you learn throughout your business ventures are around the acquisition, the stabilisation, the optimisation and then the exit, rather than that particular business.   The only amount of money you should draw as income is the amount of money you need. People see big salaries as a way to boost their ego. However, if you don’t need the money, then what is the point? Leave the money in the company and move it sideways to invest in a property or other things, rather than taking it out and being heavily taxed on it.   Getting yourself into a deal flow is just a piece of marketing. If you get the marketing correct and follow certain processes, you can turn the tap on and create a flow of deals. When you have a deal flow, you become an amazing negotiator because you are not wedded to any one particular deal. You just don’t care if the deal doesn’t happen. You don’t get a deal if you are chomping at the bit to buy something.   The difference between those who succeed incredibly and those who always seem to struggle is implementation. It is not procrastinating over what you want to do, it is just doing it and not worrying about getting it wrong or waiting for it to be perfect. Deliberating over decisions will not always end up with a better result, sometimes you have just got to go for it and trust your instincts. Test things, measure the results and tweak when needed.   As unemployment will inevitably get worse, there is going to be more focus on training people and upskilling them. If the shops aren’t open and there are fewer opportunities in retail, travel and hospitality then people will have to do something else. To do something else you quite often have to learn something new. Investment in apprenticeship and NVQ schemes is a good idea as more people will be looking to acquire new qualifications.   BEST MOMENTS “It is not always about the money, sometimes you just don’t want to be doing something any more”   “We’ve made plenty of mistakes, but we’re now in a position where it is running properly. We just aimed the gun and fired it afterwards.”   “Whilst everybody else is thinking about it, I am doing it, and getting things done.”   ABOUT THE GUEST Jonathan Jay has bought and sold businesses for over 20 years, buying from private equity firms and selling to them as well, as well a numerous trade deals. The Dealmaker's Academy is a UK leader in training people to buy and sell businesses, without risking their capital.   USEFUL RESOURCES   https://www.linkedin.com/in/jonathan-jay-3556b230/?originalSubdomain=uk https://www.youtube.com/channel/UCHmCcfQJpMPLAMPjlTXG7eQ https://podcasts.apple.com/no/podcast/business-buying-strategies-from-the-dealmakers-academy/id1369703084 https://www.thedealmakersacademy.com/about-us/?v=79cba1185463   ABOUT THE HOST   Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.   CONTACT METHOD   Email: [email protected] LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive‘Brought to you by Progressive Media’: https://progressivemedia.uk/