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Buying a Business

letter of intent

The First Step to Purchase: The Letter of Intent

The letter of intent to purchase or acquire a business is the first step in the M&A process. As a seller, these are the terms to look for in an LOI.

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letter of intent

When Should a Seller Sign a Letter of Intent?

A letter of intent is used in the purchase and sale of a business to set forth the framework for the negotiation of definitive transaction documents and closing of a transaction. Normally, a letter of intent does not create a binding contractual obligation to purchase or sell the business. However, a non-binding letter of intent […]

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Letters of Intent (LOI)

Reading and Writing a Letter of Intent

Think of the LOI as akin to a father asking his daughter’s date, “What are your intentions with my daughter, young man?” but doesn’t have to be that intimidating.

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business acquisitions

Acquisitions: That Company May Be Good to Own, but Tough to Buy

Inaction Dissatisfaction is Preferable to Buyer’s Remorse At a client’s recent board meeting we were evaluating making a bid on a rival business worth $100 million. Our management had spent years positioning itself for the opportunity to obtain this business, and now that acquisition was finally upon us. Even though it was an extremely large […]

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Strategic vs. Financial Buyers

Strategic vs. Financial Buyers: Distinctive Ways of Acquiring Businesses

Buyers’ End Game Affects Suitability As an owner considers a sale of a business, it is critical to identify the goals of the transaction, and match those objectives with the most suitable prospective buyer. There are many different kinds of buyers that might be well suited to acquire the business. Buyers are often grouped into […]

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ESOP is it right for you?

Employee Stock Ownership Plans (ESOPs): Meeting Business Succession Objectives

Does Legacy Rate Higher with You, or Pure Profit? Thinking about selling your business? Is maintaining its integrity and mission more important to you than pure profit? Then an Employee Stock Ownership Plan may be something to consider. Some business owners simply want to derive the highest value from the sale of their company, and […]

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market terms

Musings and More About “Market” Terms in Transactions

An Overreliance on Market Terms Business professionals commonly negotiate transactions by reference to what is “market.” This makes great sense for the people who are responsible for negotiating price. Valuation and pricing methods are relatively tried and true after all, and math is an exact science. This is not to suggest that buyers and sellers […]

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tribal knowledge

Retaining Tribal Knowledge For Your Company’s Long-Term Health

Tribal Knowledge: Be in the Know America is getting older. Not just in terms of it having a birthday every year, but in terms of the percentage of people closing in on retirement. You can thank the aging Baby Boomer population for that. What that says to me is that any company with a significant […]

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best advisor you can hire

Don’t Go It Alone: The Best Advisor You Can Hire Is Worth Every Penny

The Best Advisor You Can Hire Would Hire Herself, Too The best advisor you can hire will be a clever and a creative problem solver who interacts with you with total integrity, honesty, and ethical conduct. The worst? Someone’s goal of growing richer and richer at your expense- and that’s one of the better scenarios. […]

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Business Succession Planning

Succession Planning and Exit-Strategies Are Too Important to Ignore

Business owners say they understand the importance of transition planning, yet few actually plan their exit. What is going to happen when you finally relinquish day-to-day control over your business? Are you going to sell it and live off the proceeds? Do you have a successor lined up to continue your legacy? Only you can know but, whatever you have in mind, it pays to have a formal and well thought-out succession plan and exit strategy.

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