growth by acquisitions
In this new series I will take a look at situations where it makes sense for an entrepreneur or small business owner to grow via acquisitions.
Opportunistic acquisitions are those that appear unexpectedly or simply when you’re not looking for them. To illustrate, I will share a story about bicycle shop owner I knew long ago. Having been a road racer in a past life, I have always been fond of bicycle shops and at one point dreamt of having one of my own.
Billionaire Jimmy Pattison is not only one of the richest men in Canada but in the world as well and has been for a very long time. He’s 85 as of this writing and still as spry as ever. Being from my hometown, Jimmy was one of the first tycoons to appear on my tycoon radar. He serves as an inspirational figure for anyone wanting to go down the tycoon path.
In addition to being famous for having built a huge and very profitable conglomerate over the decades, he’s well known for a few other things. For one thing, he pronounces “business” as “bidness.” No one knows why but people just accept it. (There’s another tycoon who pronounces the word as “bidness,” but I can’t recall who it is at the moment.)
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