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 18: ‘Why I give stuff away for free’
Episode 16: Adding scale and value in a services business
Episode 15: Guide to winning clients and retaining staff
Episode 14: The working mum transforming a global product chain
Episode 13: 'How I've kept my first customers for 22 years'
Episode 12: Navigating your best routes to market
Episode 11: Expert tips for getting your marketing right
Episode 10: Tips for qualifying new business leads
Episode 9: How I structure a 90-hour working week
Episode 8: How to negotiate better payment terms