Dastardly Buyer Tricks (Part 2)

As noted in Dastardly Buyer Tricks (Part 1), negotiating the sale of a company is often tricky — and negotiations tend to become more challenging throughout the course of the transaction as the balance of leverage tips from the seller to the buyer. The negotiation process can become particularly fraught with land mines if the buyer begins to make extreme or unreasonable demands, pulling what we call “dastardly buyer tricks” in an attempt to “get a leg up” on the seller.

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Dastardly Buyer Tricks (Part 1)

On both sides of the negotiating table, there is give and take throughout the process until both the buyer and seller are mutually satisfied (or dissatisfied as the case may be) with the outcome.

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Business Lessons We Have Learned From Our Clients

As investment bankers, we often find ourselves in the position of teaching our clients about how to sell their company. One of our (many) jobs is to dispense valuable advice to sellers with whom we work throughout all stages of the sale process.

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May the Odds be with You

The odds may not be as overt as betting on a football game or the likelihood of it raining today, but most conscious decisions ultimately come down to a gut instinct about the required action steps to achieve the desired outcome.

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Six Planning Opportunities Owners Should Consider in Advance of a Sale

Owners who have spent much of their life building a business may have a difficult time envisioning what comes after they sell their company. Of course, there are plenty of action steps and issues that the owner should consider undertaking well in advance of considering the sale in order to realize the dream of a successful exit.

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Universal Advice for Sellers (Part 3)

These are the recommendations we find ourselves imparting repeatedly to the sellers with whom we work throughout the sale process. This advice is not only universal, it is timeless. While we don’t have a trove of words of wisdom ready to share with sellers at a moments’ notice, these encompass the recurring ideas and guidance that we have consistently shared with sellers over the years.

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10 Attributes of a Great Client (Part 1)

As in any business, we have encountered all different types of clients and come away from completed and failed transactions having learned some valuable lessons about their personalities and how they conducted themselves during the sale process.

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Buyer Warning Signals – Part 1

Evaluating a buyer’s intentions is a lot like playing poker, but most buyers provide certain signals that give away whether or not they are truly serious about purchasing a company.

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The “Unintended Consequences” of a Sale

We often recommend to owners that they build a business with the intent that it will last forever. In other words, the owner should not take shortcuts while running their company, and always do what is best for the company with the long run in mind.

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Universal Advice for Sellers (Part 1)

Working with owners both prior to and during a sale process, we find that we offer some of the same advice over and over again. It’s not like we have a list that we keep handy to spew this advice. It’s just that similar concepts repeatedly arise that lend themselves...

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The Abstract Role of the Investment Banker in the Sale Process

Sellers often ask if they should hire an investment banker to represent them in the sale of their company. The role of the investment banker tends to be somewhat abstract. Many sellers do not quite understand the role of the investment banker when they engage one to...

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The “Diligence Groan”

One of the inevitable, but necessary challenges that sellers must confront during the sale process is the buyer’s due diligence phase. This occurs during Phase IV, or the final stage of the sale process.

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Caveat Earnout: Let the Seller Beware

We have all heard the popular phrase “caveat emptor,” which means “let the buyer beware.” When it comes to negotiating an earnout in the sale of a business, a more appropriate adage might be “let the seller beware.”

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“Plateau Moments”

Selling a business can feel like a slog and a sprint all at the same time. The natural momentum of a deal may start out slow, then pick up in pace and proceed full steam ahead, like a bullet train traveling at top speed.

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Timing: Friend or Foe?

Timing the sale of a company to achieve a seller’s objectives is tricky, to say the least. Timing can be a business owner’s greatest ally or their worst enemy, and it is usually the latter.

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Maximizing Buyer Perception

In the transaction world, buyers quickly react to an acquisition opportunity based on their acquisition criteria and much more!

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Accounting Preparation and it’s Benefits

Consider this scenario: You receive an unsolicited inquiry from the ultimate buyer for your company. This buyer represents the best business fit, is informed about your company’s products and markets, can justify the highest price, and has a high likelihood of closing.

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Determining the Value of Your Business

Fair market value is defined as the price at which a company would change hands in a transaction between a willing buyer and a willing seller, both being reasonably informed as to all the relevant facts about the business, and neither party being under compulsion to buy or sell.

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Financial Planning and Selling a Company

Business owners are encouraged to consider their entire personal financial situation when considering the sale of their company. Often the value of the business is the owner’s single largest asset.

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Mergers and acquisitions services, valuations advisory services, and certain investment banking-related services are provided by The Gelfand Group LLC doing business as (dba) Bruml Capital under agreement with and a license granted by Bruml Capital Corporation for use of its name. The Gelfand Group LLC is not affiliated with Bruml Capital Corporation. All services are independently provided by The Gelfand Group LLC dba Bruml Capital pursuant to an engagement solely with The Gelfand Group LLC dba Bruml Capital.

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