Two Mistakes to Avoid When Negotiating a Deal

I’ve been helping clients buy and sell businesses for over two decades now and have been involved in hundreds of negotiations. If you asked me to name, off the top of my head, two mistakes most often made by clients when negotiating a deal, here’s what I’d say they are: 1. Failing to Focus on [...]

Read more

Four Common “Deal Killers” for Buyers

Buying another company requires a big commitment and should not be undertaken lightly.  As the Buyer, you’ll need to line up financing, put together a deal team and pay their professional fees, divert a significant portion of your attention away from your main business to get the deal done, and engage in a sometimes frustrating [...]

Read more

Two Deal Terms Buyers Should Avoid Like the Plague

If you’re regularly involved in the process of buying companies or advising clients who are, you know there are plenty of “trip wires and trap doors” to avoid and always something new to learn.  And if you’ve never been involved in an acquisition but think you might be soon, you’re undoubtedly hungry to learn what [...]

Read more

Starting the Acquisition Process: A Handful of Quick but Critical Tips

So you’ve decided to grow your business by acquiring another business – but where do you go from here?  What do you need to be thinking about?  Worrying about?  Taking care of?  To get you started, here are a handful of tips – you can even call them “nuggets” of advice – that come out [...]

Read more

When to Consider Using Acquisitions as a Growth Strategy

You want to grow your business, right?  Well how are you going to do that?  You could do it the old fashioned way by gradual, incremental expansion; but there’s an alternative that may help you grow your business more quickly and very possibly with less risk and expense – namely, by acquiring another business. With [...]

Read more

Lessons Learned: Buying a Financially Troubled Company

Are you in the process of buying a company that’s been struggling with financial problems?  If so, then I’ve got some news for you:  there are a number of critical things you need to know about how this is going to be very different from buying a financially healthy company. I recently helped one of [...]

Read more

Understanding How Buyers Think – Key Insights That Can Help You Sell Your Business For the Best Possible Terms

Many years ago, Sun Tzu, one of the greatest and most quoted military strategists of all time, said that one of the keys to winning any war is to “know your enemy.”  In the context of a business sale, this nugget of wisdom applies with equal force: “know your Buyer.” Let me be more specific. [...]

Read more

Three Key Limits to a Buyer’s Right to Recover When the Seller Breaches the Purchase Agreement

Are you reading an agreement for the purchase of a business and feeling some combination of severe fatigue from endless pages of legaleze and paralyzing fear that you might be missing something important in your agreement?   Two pieces of advice for you:  (i) get a strong cup of coffee, and (ii) stay awake long enough [...]

Read more

What to Do When a Seller Breaches Your Purchase Agreement

If you’re in the process of buying another business, you realize there’s a lot that could go wrong with the business you’re buying, and a lot the Seller might not be telling you about risks and problems of that business.  And you realize that those risks and problems might cost you, the Buyer, real money [...]

Read more

Purchase Agreement: The Four Key Sections Buyers Absolutely Need to Understand

Is your company in the process of buying another company?  If so, you’re going to need a carefully negotiated, well-drafted purchase agreement in place that describes the deal you’ve struck with the Seller. Depending on how your acquisition is structured, the document will likely take the form of an “asset purchase agreement,” “stock purchase agreement,” [...]

Read more