Finance Monthly - Global Awards 2022

Finance Monthly Global Awards 2022 USA 27 Whileyou represent business owners, doyouhaveany advice for businessbuyers? From your or your counsel’s initial contact to subsequent discussions, it does not benefit you to be coy as to what you are looking for or what your financial and other abilities are. Information that you share with us will not be used against you. Quite the contrary, it will provide me valuable insight into the opportunities I should share at that time and in the future. That is how buyers can truly gain access to gems that will otherwise remain off their radar. Also, while a company’s past and its historical performance are always critical to understand, buyers should not lose sight of the company’s future. After all, that is what you are acquiring. I see deals go south because a buyer cannot reconcile all aspects of the past, despite it having no bearing on the future. In those rare instances where deals may take a turn, it is often because an analytical buyer is missing the big picture during diligence. Finally, a strong seller relationship goes a very long way to ensuring future success. It is shortsighted for buyers to jeopardise this during the deal process. Buyers often feel they have the leverage to try to exact unreasonably concessions out of a seller at the end of a transaction. This is always a mistake in the long-run. “There is a reason why we have large windshields in our cars, but small rearview mirrors. It is so we can focus on what is ahead, not what was behind us.” parties necessary for each transaction included as well as those that may be necessary should anything go awry. I genuinely enjoy also being a resource to them and their clients. These relationships are critical and last beyond any given deal. This a key facet of a successful practice that most do not appreciate. Doyouhaveany favourite tricks toclose somany transactionsor maintain suchahigh ratio? I don’t think there are many “tricks” per se, as everyone will know that they are just that. The intermediary must be genuine with all parties at all times, or trust and confidence – which is everything – will be lost. Without maintaining your integrity, you cannot have a long-term career in this industry. One piece of advice that I share with all intermediaries is to always maintain a strong stable of buyers to keep everyone honest, motivated and to maintain deal momentum. We represent sellers, but having the ability to pick up the phone and call any number of buyers that may be suitable for a new client’s company is gold. We have over 30,000 executed NDA and Buyer Profiles on file. Since we have these contacts’ search criteria, financial ability, and notes on our prior interactions captured in our CRM, I can pick up the phone and reach a dozen prospects within the first few days of an engagement. I close perhaps 20-30% of my transactions this way, prior to the business going on the open market. Abuyer’s strong seller relationship goes avery long way to ensuring future success. It is shortsighted to jeopardise this during the deal process.

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