EP 130: The Acquisition Strategy Every Practice Owner Should Know – With Joanna Oakey (Part 1)
Episode Summary:
In this episode of Practice Growth HQ, I sit down with Joanna Oakey, Managing Director of Aspects Legal and host of The Deal Room Podcast. We dive into the exciting world of growing your practice through acquisitions—yep, you can grow fast by acquiring other practices!
Joanna’s got loads of experience helping businesses scale, and she’s sharing what practice owners need to know to take that next big step. Whether it’s finding the right practice to buy, adding specialisations, or making sure your team sticks around after the deal, we’ve got you covered.
This is part one of our chat with Joanna, so make sure you tune in for more next week as we talk about staff retention through shared ownership!
If you’re serious about growing your practice and want some smart strategies to do it, you can’t miss this episode!
What you’ll learn:
- (04:18) Why buying other practices can seriously speed up your growth
- (06:30) How adding specialisations can give your practice an edge
- (11:40) What to look for when deciding which practice to buy
- (16:47) The importance of keeping key staff after an acquisition
- (19:23) How economies of scale can save you time and money
- (23:06) Why bigger practices are more attractive to buyers and get higher multiples
- (25:16) Make sure your own practice is rock-solid before you start buying others
- (26:40) Common pitfalls to avoid when acquiring another practice
- (29:53) Why negotiation isn’t just about winning—it’s about finding a solution for both sides
- Plus loads more!
Links and Resources:
Website: https://www.aspectlegal.com.au/
Book: BUY GROW EXIT
Discount Code: PRYOR24
