E180: Mark McRae: From Casino Boss to Deal Maker: Lessons in Business and Acquisitions

How2Exit: Buy, Don't Build - M&A of Small Businesses

About the Guest(s): Mark McRae is a seasoned entrepreneur and advisor with over 30 years of experience in the business world. Originally from Scotland, Mark started his entrepreneurial journey at a young age by selling items in the market. He later ventured into the casino industry, where he gained extensive knowledge and experience in running and owning casinos. Mark's expertise also extends to derivative trading, marketing, and publishing. He has owned and bought over 30 different businesses around the world, giving him a unique perspective on global business operations. Currently based in Australia, Mark continues to be passionate about entrepreneurship and helping others achieve their business goals.
Summary: Ronald Skelton interviews Mark McRae, a seasoned entrepreneur with a diverse background. Mark discusses his journey from childhood market sales to owning global casinos, highlighting challenges and rewards. He also explores his successful transition into online marketing and publishing, emphasizing the importance of patience, due diligence, and adding value in business acquisitions. Mark shares valuable insights and advice for aspiring entrepreneurs, showcasing his passion for entrepreneurship.
Key Takeaways:

• Mark's early experience in the market as a child taught him the importance of identifying opportunities and hustling to make a profit.
• The casino industry can be profitable, but it requires a thorough understanding of regulations, licensing, and customer preferences.
• When considering acquisitions, it is crucial to assess how you can add value to the business and have a clear understanding of the market dynamics.
• Building rapport and understanding the goals and motivations of the business owner is essential for successful acquisitions.
• Integrating a newly acquired business can be challenging, and it is important to listen, observe, and build trust with the existing staff to ensure a smooth transition.

Notable Quotes:

• "I think I'm doing exactly what I should be doing. There's nothing else I would rather do. I can't sing. I can't dance. I have no other talent. I'm virtually unemployable. But I love doing what I do." - Mark McRae
• "Don't give up on your dreams. If you have a dream, if you want to do something in business or mergers and acquisitions, it can be done. Don't let anybody put you off." - Mark McRae

Watch it on Youtube: https://youtu.be/BXRv-YOuWzE
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Contact Mark on
Linkedin: https://www.linkedin.com/in/markmcraecom/
Website: www.markmcrae.com
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How2Exit Joins IT ExchangeNet's Channel Partner Network!
-Why IT ExchangeNet?
Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match.
"Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton
The IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.
If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.
Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.
Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.
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