Luke Havard 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.
Apple | Google | Spotify | Stitcher | iHeart
Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
Connect with Luke on Facebook, and LinkedIn
EOFire – Check out JLD’s 5 FREE Courses for you!
The Mastery Journal – Master productivity, discipline, and focus in 100 days!
3 Value Bombs
1) Merging with another company is one of the fastest ways to scale a business.
2) It takes more than money to be able to invest—sometimes all you need is an ability to prove yourself and ensure results.
3) Always do your due diligence when it comes to any and every deal you commit to.
TransferWise: A multi-currency account that makes it cheaper to pay – and get paid – in foreign currencies. Join the 2m people who are already saving on international transaction fees! Head to TransferWise.com/fire to try it for free!
Four Sigmatic: Mushroom Coffee – that doesn’t actually taste like mushrooms – and that has a ton of benefits! It tastes just like regular coffee, and I love that it gives me a strong and steady energy force that lasts the entire day thanks to the active ingredient: Lion’s mane mushroom. Visit FourSigmatic.com/fire and enter promo code FIRE for 15% off your order today!
(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
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!