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How many people do you see on the internet telling you it’s a good idea to buy a business for £1?

To me, it feels like this advice is being given out everywhere, particularly as a way for new dealmakers to acquire their first business.

This is terrible advice.

If you are buying a business for £1, it is most likely a distressed business. It may have debt. It may have staff or management issues. It may have HMRC and creditors at the door demanding money.

I don’t know about you, but I would much prefer owning a business without these issues.

This is why I believe distressed businesses are the worst type of business to buy as your first acquisition.

In my latest video, I explain exactly why you should avoid buying a business for £1 and what you should focus on instead as your first (or next) acquisition.

In this video, you will discover…

Why buying a distressed business is the worst thing an inexperienced dealmaker could do for their first deal (don’t make this mistake)
Why buying a business for £1 may seem a bargain, but you will pay the cost in time, stress and opportunity
Why getting your first deal wrong could leave you with six months of headaches (and sabotage your business buying future)
Exactly what you should focus on as your first deal (if you want to avoid problems and earn income from Day 1)

#businessacquisition #buyingabusiness #businessbuyingstrategies