Episode 33 – August 20, 2019
Today we chatted with Bill Bath about his specialty, Mergers & Acquisitions. If you’ve ever wanted to sell your business or acquire one, we have several tips from Bill that can help you in the process. Bill is a Managing Partner of Legacy Mergers and also Charlotte Chairman of 12 Mavens; an invitation only community of CEOs and entrepreneurs that meet together to grow and challenge each other in a confidential community setting. 12 Mavens has chapters all across the country and helps CEO’s operate at their highest level.
2 Simple Tips Before you bring your Business to Market:
- Tip 1: Make sure your Books are Clean! You want to make sure no-one is running personal expenses (like a home, yacht, or vacation) through the company.
- Tip 2: Figure out what are you going to do next? Do you want to retire and live that beach life? Are you selling to fund your next venture?
3 Tips to Aquire Someone Else’s Business:
- Tip 1: There will be risk. Know what risk you are willing to take and where you draw the line.
- Tip 2: Look for clean books – or cleanish.
- Tip 3: Know your strategy. You have to know what will be beneficial to your business
3 Risks to Look For:
- Quality/ Stability of Financials – How much debt do they carry? What type of cash flow do they have?
- Culture – Does theirs mesh with yours?
- Synergy – Will absorbing them produce a greater effect?
Have you ever acquired a business? We want to hear from you! Tell us any tips or takeaways you learned in the process.