Accountant Alexander Laureti speaks about his first-hand experiences of business acquisitions and what he has learnt about this method of business growth.
“That was a really eye-opening experience for us, because in taking over somebody else's business … you're basically having to earn your stripes very quickly, because you have now taken over that relationship,” says Alexander on his firm’s first business acquisition.
Regular followers of the My Business Podcast will recognise Alexander from several months ago, when he discussed how often you should speak to your accountant and the most common problems accountants uncover in their SME clients’ taxes and finances.
Alexander makes his return to discuss his own business, LMS Advisory, in more detail, and speaks about:
• The challenges and benefits of expansion through acquisition
• Some of the quirks of succession planning in a family business
• His approach to selling in an industry not traditionally associated with sales
• Balancing profitability with service delivery
Plus much more!Listen to other instalments of the My Business Podcast:
Episode 29: Taking the frustration out of people management
Episode 28: 'How I achieved 80% growth in turnover'
Episode 27: Giving your business the perfect fit-out
Episode 26: Cash flow tips and tricks for SMEs
Episode 25: SMBs have their say on economic prospects
Episode 24: Offshore workers: the next bastion of business growth?
Episode 23: What Trump means for Aussie businesses
Episode 22: Balancing innovation with paying the bills
Episode 21: The do's and don'ts of selling online
Episode 20: A true blue Aussie success story