Episode 7: Acquisition: Not Just for the Big Guys, with John Bly
John Bly is the founder and CEO of LBA Haynes Strand PLLC, a widely-respected CPA firm. Since 2004, John has completed eleven CPA firm acquisitions and four fitness franchise acquisitions.
He is also the co-founder of LBA Haynes Strand Capital Advisors LLC, which provides advisory services focusing on the capital needs of small and mid-sized companies. John is a speaker and business consultant specializing in mergers and acquisitions, as well as the author of Cracking the Code: An Entrepreneur’s Guide to Growing Your Business Through Mergers and Acquisitions for Pennies on the Dollar. John is truly an expert in deals, experienced as an advisor to others as well as a principle in his own business.
What You Will Learn:
- John explains why he decided to grow his firm inorganically through acquisitions, in a field where acquisitions are viewed as the domain of the Big Four firms and not something that smaller firms typically consider.
- John discusses why he left his position with PricewaterhouseCoopers and struck out on his own, as well as why he began rapidly acquiring other small firms with the intent of growing his business to the point that he wouldn’t have to do everything himself.
- Learn how John used owner-financing and SBA loans to fund his first five acquisitions, due to not having much money of his own to invest that early in his career. John also explains how he used those first deals as a springboard for growth.
- John shares some of the problems he ran into after his fifth acquisition, and he outlines some of the unexpected costs that were associated with those problems. He shares how his team worked through those inherited problems.
- John explains why you should do your due diligence, listen to your gut feelings, and stick to your guns to mitigate risks in acquisitions. He shares his advice for looking for the right merger or acquisition, and he shares what you should focus on when evaluating the value of a deal, and why culture compatibility is a huge factor to consider.
- Cracking the Code by John Bly: https://amzn.to/2NjDoJc
- Email: [email protected]
- Website: www.lbahs.com
Connect with Corey
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