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Are you considering buying an existing business? Do you want to learn how to buy an established company? Check out this informative video on acquiring businesses and developing effective acquisition strategies.

Acquisitions expert Jonathan Jay interviews Johan Goree, the managing director of OnPoint Accounting, who provides invaluable insights into conducting due diligence when purchasing a business.

Johan Goree shares his expertise on analysing financial aspects such as bank accounts, debts, work in progress, and stock levels during the due diligence process. Learn how these factors can impact the negotiation and initial consideration of a business acquisition.

Discover the significance of cash flow management and gain practical insights on optimising expenses, refining employee contracts, renegotiating credit terms, and more.

Johan emphasises the need for up-to-date financial information and modern accounting systems for accurate assessments. Find out how cloud-based accounting platforms like QuickBooks and Xero streamline due diligence, allowing for real-time data sharing and faster decision-making.

When planning to sell your business, it's crucial to prepare ahead of time. Start by discussing your goals with your accountant, including the possibility of adopting Cloud systems. While switching accountants may not be necessary, it's important to ensure that you have accurate and up-to-date management reports.

This way, when entering acquisition deal talks, you can provide relevant information, such as current financial data, rather than outdated accounts from months ago.

As an accountant, Johan addresses the issue of valuing assets and fixed assets. He highlights the importance of verifying the condition, value, and relevance of assets listed on the balance sheet. For items like computers and cameras, which may not last long or have a high resale value, Johan suggests reconsidering whether they should be classified as assets.

Additionally, he emphasises the significance of cash flow in evaluating a business's true value, as it represents the money in the bank that cannot be manipulated.

If you are looking to acquire a business this insightful interview, in which Jonathan Jay discusses the key aspects of business acquisition strategy with accountant Johan Goree, is a must-watch.

Gain valuable insights into the importance of finding an accountant who understands the dynamics of business acquisition, the significance of risk assessment, and the types of businesses to consider for your first acquisition.

Learn how recurring income and subscription models can contribute to long-term success, and discover effective ways to secure financing for future acquisitions.

Don't let fear of the unknown hold you back—take the first step towards building a profitable business portfolio today!

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