We as entrepreneurs are typically mavericks, visionaries, leaders and self-motivated.  We have listened to our heart and passions more than our head before we decided to go out on our own.  People call us “risk takers” but I honestly I don’t think of myself as that.  For me, I think people working for others are risk takers, trusting someone else with their future and successes.  I want to be in control of my results, be held accountable to my decisions and look in the mirror to decide […] Continue Reading…

According to the Webster dictionary the definition of negotiating is “ to confer with another so as to arrive at the settlement of some matter” or “to arrange for or bring about through conference, discussion, and compromise”.    This is very important to understand since many sellers believe that once a price has been agreed upon then the negotiations are over.  On the contrary, every buyer considers the escrow process a series of negotiations […] Continue Reading…

I had a business sale fall out of escrow today because the seller was not upfront with me or the buyer when it came to providing preliminary information.  In this situation, I’m representing the buyer and had a signed MOU (memo of understanding) with an agreed price and term.  The buyer started their diligence process and some interesting things came out.   It’s not that he lied about anything he provided, but he failed to mention some significant debt […] Continue Reading…

Now most of my blogs have been supportive of SBO’s and I try to be objective and sensitive to the entrepreneurial spirit, but today was one of those days that I have to vent.  Today I am wearing my Advisor hat and nothing else.  I’m not a fellow business owner, or entrepreneur, just an advisor.  Consider me a coach, telling you the way it is.  I’m not going to defend or explain away […] Continue Reading…

I am currently working with both sides of a relatively small business transaction.  I call it small, $100,000 purchase price, not to minimize the transaction value but a reflection of the owner’s goal to minimize all professional fees.  What seems to be consistent with SBO’s is their undying desire to “save” a penny at the expense of a dollar.  Now I walk both sides of the fence here because as an SBO, I pay those professional fees to my advisors to help me stay out […] Continue Reading…