The Bottom Line

Seller remorse, though relatively rare, is real. But there are several lessons to be learned from this affair that will help sellers avoid it. The first is that, when selling a business, the business’ owners have GOT to hire experienced talent to represent them. Last week’s post discussed the three ways to sell a business. The worst way is the DIY approach. But equally disastrous is hiring someone with the wrong training – whether it be a realtor, a dentist or the local high school gym teacher! The second is that business BUYERS are equally foolish to start the acquisition process without professional M&A representation. In this case, our clients were ready to pay substantially more for the business before we urged them to lower their offer. What they saved far outstripped our fee. If you have any questions, comments or feedback on this topic – or any topic related to business – I want to hear from you. Put them in the Comments box below. Start the conversation and I’ll get back to you with answers or my own comments. If I get enough on one topic, I’ll address them in a future post or podcast. I’ll be back with you again next Monday. In the meantime, I hope you have a safe and profitable week! Joe