Carl Allen is a U.K.-based turnaround artist. He buys relatively unloved businesses, makes them better, and sells them for a profit.
When you’re in the turnaround game, you get a lot of weird phone calls, but none quite as odd as the one Allen received in 2013. A business owner had heard Allen was looking to buy a precision engineering business, and the owner had one to sell.
The only catch? Allen had to decide in 48 hours.
Two days later, Allen found himself the proud owner of a small company that made custom parts for high-performance motorcycles, which he had purchased for just £1. He immediately set to work making the business more valuable and just three years later, sold it for almost £3 million.
In this episode, you’ll learn:
- How to buy a business for pennies on the dollar (or pounds)
- How to get an acquirer to buy your shares not assets
- How to use forecasting to boost the value of your business in the eyes of an acquirer
- How Pareto’s Law can maximize the value of your business
- Allen’s formula for finding a business to buy