In this episode of 'Business Buying Strategies,' Jonathan Jay introduces Vicki Espin, who discusses overcoming imposter syndrome, particularly for new business buyers worried about their lack of experience.

Vicki emphasises that impostor syndrome affects everyone at different stages of life and offers insights on the roots of these feelings and practical advice on managing them. She highlights the importance of understanding one's motivations and beliefs to overcome doubts and fears related to business acquisition. She offers practical strategies to acknowledge and address their imposter syndrome, helping to build confidence and encourage proactive steps in their business ventures.

Key moments

01:07 Introducing Vicki Espin: Tackling Imposter Syndrome
02:12 Vicki’s Insights on Imposter Syndrome and Business Success
09:54 Understanding and Overcoming Imposter Syndrome
18:11 Identifying and Challenging Your Imposter Syndrome
24:36 Practical Steps to Combat Imposter Syndrome
28:59 Reframing Your Thinking and Taking Action
32:18 Closing Thoughts and Encouragement

** Looking for a great acquisition lawyer in the UK? Use mine! **

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

Ready to get started?

Here’s how you can start your business buying journey…

Download our free Business Buying Toolkit

https://dealmakers.co.uk/business-buying-toolkit

Join our Business Acquisition FastTrack programme

https://www.dealmakers.co.uk/fast

Already bought a business?

if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.

In this week’s episode of the podcast, we feature highlights from peak performance coach Nigel Risner’s presentation at our last Dealmakers Retreat on how to get deals done and negotiate with vendors.

During the presentation, Nigel delivers a masterclass on why some people are more effective than others in a negotiation, how to connect with and understand the other party to get the best deal and why you need to go deeper to understand why you’re not getting the results you want.

This is packed with valuable insights and practical suggestions that will make a difference in your next negotiation.

Here is what you will discover…

👉 The No.1 reason why people go to work (and how understanding this helps you negotiate better)

👉 Why money is not the biggest motivator for vendors (and why focusing on money is a bad idea)

👉 Why your past behaviour is the biggest driver of your future behaviour (and how to change it)

👉 Why you need to be 100% present with a vendor to close deals successfully

👉 The #1 thing that gets in the way of connecting with a vendor (this kills more deals than you know)

Key timings:

01:34 Nigel Risner's Insights on Personal Needs in Business

03:16 Understanding the Importance of Personal Needs in Negotiations

04:52 The Power of Being Present and Engaged

08:30 Overcoming the Past to Create a New Future

11:04 The Impact of Beliefs and Communication on Success

13:48 Seizing Opportunities and Simplifying Deals

15:59 The Psychology of Online Shopping

16:47 Learning from Giants: Amazon and McDonald's

17:53 The Power of Face-to-Face Communication

18:29 Mastering Communication Styles

19:34 Understanding Your Business Zoo

20:01 Navigating the Business Zoo: Monkeys, Lions, Elephants, and Dolphins

25:22 Becoming an Effective Zookeeper in Business

28:49 The Importance of Trust and Self-Belief

** Looking for a great acquisition lawyer in the UK? Use mine! **

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

Ready to get started?

Here’s how you can start your business buying journey…

Download our free Business Buying Toolkit

https://dealmakers.co.uk/business-buying-toolkit

Join our Business Acquisition FastTrack programme

https://www.dealmakers.co.uk/fast

Already bought a business?

if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.

In the latest episode of the Business Buying Strategies podcast, Jonathan Jay reveals the psychology of the buyer and seller during any negotiation for the acquisition of a business.

Business acquisition negotiations are primarily a psychological game, with the party who has more information carrying an advantage.

Understanding how the vendor thinks from the start of a negotiation and through the various stages of a discussion is essential to building the trust and rapport needed to ensure an open conversation.

Ultimately, the goal is to discover the motivation of the seller for having the conversation in the first place and working with them to find an exit that works for both parties.

Listen to the episode to gain an insight into the mind of the seller before your next negotiation.

Listen and discover…

Here are the key highlights:

01:50 The psychology of buying and selling businesses
04:03 Understanding the seller's emotions and hopes
06:17 The value in knowing buyer's fears and motivations
06:58 The importance of understanding motivation
11:47 Strategies for successful business buying
22:26 First impressions and negotiation tactics
35:32 How to use this information in your next negotiation

Here is what you will discover…

• Why you need to be aware of your own motivations before engaging with a seller (to understand what you need from a conversation)

• The reason why so many vendors have unrealistic valuations (and what to do about it to secure a great deal)

• Why knowing more than the other party in a negotiation gives you an advantage (and how to avoid losing the ‘information game’)

• Why you will lose any chance of a good deal if you turn into a motivated buyer (avoid this at all costs)

• The No.1 reason why you need to avoid dealing with business brokers (on your first deal, at least)

** Looking for a great acquisition lawyer in the UK? Use mine! **

If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.

Ready to get started?

Here’s how you can start your business buying journey…

Download our free Business Buying Toolkit

https://dealmakers.co.uk/business-buying-toolkit

Join our Business Acquisition FastTrack programme

https://www.dealmakers.co.uk/fast

Already bought a business?

if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.