I’m very proud of what the Dealmaker Wealth Society team accomplishes every day…
But I’m even PROUDER of what our many student members are achieving!
That’s why I’m so passionate about sharing their amazing success stories with you.
And today’s story again highlights an enduring lesson all aspiring dealmakers should take away.
Jacques Marx’s journey started out the way so many others do…
Jacques is based in South Africa. He had put in 15 years at a solid corporate job, climbing the ranks of an investment holding company to CFO with a great salary and massive benefits.
But you’ve heard before how this story goes… He was chained to a desk, stressed to the max and simply burned out.
He wasn’t enjoying life, let alone the fruits of his labor.
After turning 40, he hit what he describes as a crossroads and realized he needed to make some serious changes.
“I was feeling a little trapped to be honest… there may have been opportunities for me to create a bit of wealth within that [corporate] structure, which was great, but I was looking for something more. And it became very clear to me… I had to pursue something else in terms of… a wealth creation model for myself.”
Though his father had started his own business many years ago (now being run by his brother), Jacques had no interest in joining it or starting-up his own. He knew it would be expensive and time-consuming.
While researching his next move, Jacques stumbled upon Dealmaker Wealth Society, began devouring these free weekly emails and religiously attending our YouTube lives.
He quickly decided to join our flagship Dealmaker CEO training system, describing it as “one of the best decisions of my life.”
And boy was it…
Though it took grit and resilience—being committed to his outcome but flexible in his approach.
After looking at more than 20 companies in just a few months, Jacques came very close to making a deal on a process engineering and IT company.
He spent months building a relationship with the owners. But although they loved his visions for the company, in the end they decided to keep running it for five more years.
This was a real blow to Jacques’ confidence.
As he says, “[I] really questioned whether I can actually pull this off.”
Limiting beliefs are normal—they impact EVERYONE from time to time. The key is having the mental fortitude to overcome them.
The training Jacques had implemented to prime his dealmaking mindset kicked in… and he refused to give up.
Less than a week later he got a call from his broker about another company he had been looking at, an 8-figure company (and top two-player) in the country’s plastics sector.
He met with the sellers and immediately hit it off. Jacques knew they were selling the company for all the right reasons.
They were ready to retire and wanted their legacy—their employees, their customers, their brand—sustained. In the end, they saw Jacques as the “safe pair of hands” to do it.
Jacques acquired that business—his first—last year during the pandemic and worldwide economic downturn. And he did it without using a cent of his own money.
The total deal consideration was $3 million—roughly 2.3X EBITDA according to Jacques. The deal was structured with an asset-based loan and seller financing, resulting in a closing payment of $1.3 million and deferred payments of $1.7 million over three to seven years depending on the business’s performance.
Jacques ended up partnering with two of the management staff who he describes as the heart and soul of the company. He kept 60% equity shares and gave 20% to each of them.
This way, he gained partners with more than 40 combined years of industry expertise, and he gets to work ON the business rather than IN the business.
I had the pleasure of speaking with Jacques about his experience a few months ago. It was truly amazing to see the way his absolutely face lit up when he was talking about his acquisition journey:
“[Dealmaker Wealth Society] was life-changing to me. I would never be able to attempt something like this before I came across the CEO program… If you’re going through those tough times and frustrations, if you’re in corporate, whatever it is, you’re burnt out, you’re looking for something new… I promise you, try Dealmaker Wealth Society and [its] various programs. It’s fantastic. It’s life-changing!”
I am confident this is just the beginning for Jacques. Since then, everything’s snowballed—he’s got a few more deals in the works right now.
But—though I hate to say it—Jacques results are not as ubiquitous as I’d like them to be.
You see, there’s one simple reason a student won’t see results like Jacques’: they DON’T take action and do the work.
To successfully acquire businesses takes discipline, practice and persistence. It takes pushing the boundaries of your comfort zone and having a no-quit attitude.
Rinse and repeat.
In fact, Jacques attributes a lot of his recent success to his MINDSET, something I love to talk about because it’s the MOST important thing in the dealmaking process, no question about it.
He says you’ve got to take massive action to see results. (Hmmm, I wonder who else says that?)
His positive mindset—his ability to pivot, stay flexible yet focused—is what helped him move past the more difficult parts of the process, like losing that first promising deal.
I’m not sure Jacques has any idea just how proud of—and downright thrilled for—him I am.
My goal, my legacy, is to inspire and empower as many people as possible to achieve the same results as Jacques.
As accomplished as he is in his own right, our flagship Dealmaker CEO system gave Jacques the enhanced education and tools he needed to create the life he REALLY wanted…
And it can do the same for YOU. To learn more, click here.
Until next time, bye for now.