In this week's podcast, Jonathan talks with Cara about her remarkable transformation from owning a single beauty salon generating £180,000 annually to building a multi-salon empire with over $2 million in revenue in just 18 months.
The conversation delves into the effectiveness of Jonathan's Mastermind program, which Cara credits for her success by strictly following the process. They explore the importance of ambition, quick action, and the benefits of having a system for business growth.
Cara shares insights into her strategic acquisitions, leveraging credit facilities, and negotiating tactics, including the 'Columbo strategy', where you are prepared to walk away from the deal. Jonathan and Cara also touch on the motivational aspects of entrepreneurship and the impact of mindset in achieving business goals. The episode concludes with reflections on personal growth, financial stability, and future aspirations in business expansion.
Key moments
00:00 Introduction to Cara's Success Story
01:16 The Power of Following the Process
02:06 Cara's Entrepreneurial Journey
04:06 The Importance of Sector Familiarity
04:58 The Columbo Strategy in Negotiations
06:41 Scaling Up: From Small to Large Acquisitions
08:14 Cara's Personal Experience and Growth
12:46 First Deal and Criteria Refinement
14:00 Initial Contact and Negotiation
15:54 Deal Number One: The First Acquisition
15:57 Deal Number Two: A Bigger Salon
21:23 Deal Number Three: Strategic Purchase
23:53 The Importance of a Systematic Approach
26:45 Personal Motivation and Achievements
** Looking for a great acquisition lawyer in the UK? Use mine! **
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
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If you've already bought a business, you should be part of my Inner Circle group, where we discuss raising capital, integration management, and exiting. Email Maria at hello@thedealmakersacademy.com for more information.
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