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 46: The underutilised resource for business betterment: Paul Cave, BridgeClimb
Episode 45: Jules Peacock & Amajjika Kumara, Lily Jackson Hair & Makeup: A sneak peak into the business behind Sydney’s best hairdresser
Episode 44: Paul Cave, BridgeClimb: the best ever story of perseverance
Episode 43: Natasha Chadwick, Synovum Care Group
Episode 42: Steve Hughes, Mood Media Australia
Episode 41: Finding a partnership between digital and physical
Episode 40: SumoSalad CEO shares the secret to corporate social responsibility
Episode 39: Evolving innovation to suit your business needs
Episode 38: Lessons from a serial entrepreneur
Episode 37: Juggling product ideas with commercial realities
- The relationship between perception and information
By Sascha Moore
- Does sponsorship provide a good return on investment?
By Steve Scanlan
- Getting workers to win the war against cyber crime
By Sean Duca