I am not a Do it Yourselfer around the home although I’ve tried. A number of years ago I was fixing a window in my daughter’s room (she was two at the time) and pushed the window out of the guides, sending it tumbling to its death three floors down on our driveway! I assure you that I RARELY use bad language, but a four- letter word came out that day. And yes, my daughter repeated that word to her grandmother that afternoon!
Two lessons learned. Hire a professional to do things that I have little experience with and never say anything in front of your children that you are not prepared for them to repeat!!! It ended up costing me more money, time and some ugly looks from my mother-in-law than if I had hired a professional in the first place.
The concept applies to the selling of a business. It’s not a DIY job. With my window project I now know what I did wrong and might be able to do it again with a little more practice. But, when selling your business you don’t get to practice and you don’t get a second chance. It has to be done right the first time or you will lose time and money.
We often receive calls from business owners after they have been approached by a single buyer and have started the sale process on their own. During the conversation we might uncover five or ten leverage points the seller can no longer use for a better deal structure, price and terms. If the business owner had entered the transaction with an advisor, he or she would have definitely been in a better position for negotiation.
There is never a charge to have a conversation about what’s happening in the M&A market. We are always willing to look at some basic data and provide you with valuable recommendations. Contact us today.
