Would you buy a business for £1? 🤔 It sounds like the deal of a lifetime. But the purchase price is only the entry ticket. The real cost could be funding wages, settling overdue suppliers, fixing loss-making contracts and keeping the business moving while you turn it around. Before getting excited about a cheap acquisition, ask: ▪️ Why is the owner selling? ▪️ Where is the business losing money? ▪️ How much cash will it need before it can support itself? ▪️ What evidence shows the problems can be fixed? ▪️ Who will actually do the work to fix them? “The business has potential” isn’t a turnaround plan. You need specific changes, someone responsible for delivering them, and enough cash and time to see them through. A £1 business can still be an expensive mistake. It can also be an opportunity—if the numbers and your ability to execute support it. What would you investigate first if someone offered you their business for £1? Pull up a chair. Let’s discuss. 👇

Would you still buy it if the owner left tomorrow? A business can look profitable on paper while depending heavily on the person selling it. The owner may hold the customer relationships, prepare every quote, organise the team and solve problems nobody else knows how to handle. Before deciding what that business is worth, ask: • Who brings in the work? • Who keeps operations running? • What would it cost to replace the owner’s contribution? • Would customers and staff stay after a sale? Seller finance can help structure a purchase, but it cannot fix a business that stops functioning after handover. Sometimes your biggest expense won’t be buying the company—it will be replacing what the seller does. If you’re looking at a business now, what is the one responsibility you would need the owner to hand over properly? Pull up a chair and share your thoughts. Patrick The Acquisition Boardroom

If you could buy an established business, what would you choose? For me, the focus is construction and related trades, where I can bring more than 40 years of experience. But knowing the industry is only the starting point—the figures, people and purchase terms still need to stack up. Tell us in the comments: • What type of business interests you? • Where would you want it to be? • Would you run it yourself or employ a manager? If you’re still exploring, head to the Classroom and work through the free six-step acquisition course. And if you already own a business, what would you look for in someone taking it over? Pull up a chair. Let’s hear your thoughts.

What is the one thing holding you back from moving forward with buying or growing a business this week? It could be: - Finding the right opportunity - Understanding the numbers - Raising finance - Knowing how to approach a seller - Fear of making the wrong decision - Simply not taking action Be honest and specific. Post your answer below, along with one action you will take this week to begin overcoming it. Sometimes identifying the real obstacle is the first step towards removing it.

I have spent more than 40 years starting, buying, building and operating businesses—and I am still learning. Not because I need another certificate or more information stored on a laptop. I continue learning because the acquisition market changes, funding evolves and every business, seller and negotiation presents a different challenge. But there is also a trap. It is easy to convince ourselves that watching another video, completing another course or reading another book means we are making progress. It doesn’t. Knowledge only becomes valuable when it changes a decision or leads to action. My commitment inside The Acquisition Boardroom is to take what I learn and test it against real opportunities. That means approaching sellers, questioning the figures, exploring funding, negotiating terms and being prepared to walk away when the evidence does not support the deal. Some lessons will help move an acquisition forward. Others may prevent an expensive mistake. Both have value—but only when they are applied. So today’s Boardroom question is: What is one thing you already know you should be doing—but still haven’t acted on? Pull up a chair and be honest. Mine is continuing to follow up consistently when brokers or sellers go quiet.