What happens after you buy a business?

Now, you may remember that last week I interviewed Gavin Page about the nine printing companies that he had acquired. Gavin was crowned deal maker of the year at our annual awards and dinner in December 2022. This week we talk about how he has integrated these businesses and the challenges he has faced along the way.  Key Highlights [01:53] The biggest integration challenge: Culture [03:10] Consolidating leases and employee contracts [07:55] Second challenge – Back office and MIS [13:30] Third challenge - Capital [16:05] The importance of a good finance team [21:10] Management team [22:00] Buying £2m+ companies rather than smaller businesses [27:10] What is the acquisition plan from now on? [30:10] Integration advice for dealmakers buying a second business Notable Quotes So obviously we're looking at consolidating the nine business - with the current energy crisis and the economy slowing down, we've got to find ways of reducing the overheads.  Nowadays whenever we take on anybody new, there is a mobility clause in their contract. We're going from a paper-driven process to a data-driven process, and we are spending tens of thousands of pounds on technology to get this data driven technology implemented. Resources Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, 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 on [email protected] for more information.  If you are looking for a lawyer in the UK to help you get the deal over the line, then use my guy, John Andrews. You can phone his office at (0345) 2412494 or email him at [email protected]. If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: https://www.dealmakersvideo.co.uk Each week I interview deal makers who have been on my business acquisition mastermind program and find out about their deals and behind the scenes of their acquisitions. If you want to know how to get started in M&A, then take my free online course. You can find it at: https://www.dealmakerspodcast.co.uk You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/ If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast  Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy