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November 23, 2018 |
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Buying a business in 48 hours is a risky move, but Carl Allen did exactly that and turned his purchase around for a tidy sale in just three years.
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:
One of Allen’s first value-building moves was to narrow his company’s product offerings from 113 components to 18 without dramatically reducing revenue. Finding your most scalable products is the goal of The Scalability Finder, Module 2 of The Value Builder System™. Get started for free right now by completing Module 1.
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James Ashford had a burning drive to become an entrepreneur and start a successful business. After a failed attempt to grow a marketing agency, Ashford knew that to build the business he had always dreamed of, he needed to make some drastic changes.
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