Dealmakers Podcast

Building a £12m Business by Acquisition

Adam Wills explains how he moved from failed startups to buying businesses through seller conversations, deferred consideration, stronger deal flow, and professional services acquisitions.

Listen to the Episode

Episode 211  |  Runtime: 41:55  |  Audio Episode

Listen to the Episode

Hear Adam Wills explain how business acquisition became a better route than startups, and how he used deal flow, seller motivation, deferred terms, and team building to scale.

Episode

211

Runtime

41:55

Topic

Business Acquisition

Format

Founder Interview

Key Takeaways

Three acquisition lessons from Adam Wills on moving beyond startups and building a larger group through business buying.

Acquisitions Can Beat Startups

Adam explains why repeated startup attempts failed and why buying an existing business with staff, customers, systems, and seller motivation created a stronger route to growth.

Deal Flow Builds Confidence

The first seller calls were uncomfortable, but repeated conversations improved qualification, negotiation, and the ability to spot owners with real exit motivation.

Bigger Targets Can Be Easier

Small acquisitions often create owner dependent problems, while larger companies are more likely to have infrastructure, management, and profit capacity to support growth.

Episode Breakdown

This episode follows Adam Wills, who moved into acquisitions after repeated startup attempts failed to gain traction. After finding Jonathan Jay's content and joining the acquisition training environment, Adam realised that buying an established business could give him customers, staff, revenue, and momentum that startups had never provided.

The conversation goes deep on the real learning curve behind direct seller outreach. Adam talks about the fear before taking action, the first difficult owner calls, why sending letters creates opportunity, and how hundreds of conversations with business owners revealed common exit drivers such as fatigue, no succession plan, ill health, and businesses needing fresh energy.

Adam also explains why his early small acquisition became a time drain, and why moving toward larger companies changed the economics. The episode covers deferred consideration, deal teams, acquisition lawyers, due diligence, accountancy and legal firm purchases, professional services roll ups, management talent, post acquisition integration, and the mindset shift required to buy businesses at a more serious level.

Best For

  • Entrepreneurs comparing startups with buying an established business.
  • First time buyers nervous about seller outreach and acquisition calls.
  • Dealmakers considering deferred consideration or no money upfront structures.
  • Buyers deciding whether to target small owner dependent firms or larger companies.
  • Acquisition entrepreneurs building a professional services group through roll ups.

Questions Answered In This Episode

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  • Step-by-step acquisition roadmap
  • Financing templates and lender contacts
  • Due diligence checklists
  • Deal closing procedures

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