Luke is a business investor, advisor and serial entrepreneur with a deep passion and talent for buying, scaling and selling global businesses and advising, and partnering with others to do the same.
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3 Key Points:
- Merging with another company is one of the fastest ways to scale a business.
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- Always do your due diligence when it comes to any and every deal you commit to.
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Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [00:51] – Luke advises businesses and invests in them
- [01:00] – Recently, he helped another businesses leverage their intellectual property
- 01:19 – Luke was on Episode 701 of Entrepreneurs On Fire
- [01:45] – His area of expertise is in private equity and helping small to mid-sized companies scale
- [02:25] – Share something we don’t know about your area of expertise that as Entrepreneurs, we probably should: Most businesses know what they did to get to where they are, BUT when you add value in a certain way, sometimes the value exchanged is not fair
- [03:43] – Realizing how much Luke made a company in a deal was a wakeup call for him to make a transition
- [05:32] – Fact: You don’t need to have money to become an investor
- [05:54] – Money is NOT of the highest value in business—it’s one’s expertise
- [07:00] – You can be an investor even if you don’t have money—as long as you can deliver results
- [08:00] – For Luke, the fastest way to scale a company is to buy another company that you’ll merge with
- 09:37 – Facebook purchased Instagram, Whatsapp, and Oculus Rift
- [11:10] – For EOFire, a similar type podcast or an online digital company that has a big database would be good to merge with
- [12:43] – Big companies with high valuations don’t just have one product
- [16:45] – A company in distress is one reason why an owner might look into giving someone else a stake in their business without investment
- [17:15] – Luke would look at distressed companies, but he’s not willing to clean up somebody else’s mess
- [17:20] – He’s interested in businesses with great products or services that will help them scale
- [18:49] – Oftentimes, people just reach their limits
- [19:27] – Strategy, not cash, is what you need for making deals
- [19:44] – Private equity deals are different than investing without cash
- [20:39] – The biggest problem Luke ever faced was when he was ready to sign the papers for a certain deal. It turned out that the company they were dealing with had bad legal issues and had scammed millions. It was a disappointment that Luke didn’t dig deep enough to become aware of this issue beforehand
- [21:51] – Don’t assume that you only have one option for doing business
- 23:01 – Connect with Luke on Facebook, and LinkedIn
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