258 - 350 Deals Taught Him the 3 Deal Killers; Now He's Buying One with Kevin Henderson
Nikonomics - The Economics of Small Business
Bridging Fees When Deals Bust
Kevin outlines how they minimize risk from busted deals and structure fees to protect the firm and clients.
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Join me, Nik (https://x.com/CoFoundersNik), as I interview Kevin Henderson (https://x.com/KHendersonCo).
Today, I sit down with Kevin, a founding partner of the SMB Law Group, which I believe is the fastest growing law firm in the country. Kevin is an established legal expert who handled M&A and securities compliance for a publicly traded, large flow control company called FlowServe.
He walked away from that cush corporate job to launch a transactional boutique focused on the Entrepreneurship Through Acquisition (ETA) space alongside his partners, Eric and Sam.
Kevin discusses how he and his co-founders brought their expertise from working on multi-billion dollar deals (Big Law) and applied it to neglected Main Street M&A. He explains the unique financial structure they pioneered to solve the problem of buyers having less money for legal fees, including the use of fixed fees and a mechanism to essentially finance transaction expenses, including legal fees, against the required buyer equity injection in SBA deals.
We also dive into the amazing story behind the famous headline, “Who the Hell Is Kevin Henderson?”, after SMB Law Group achieved the number one deal count ranking in the entire state of Texas in its first full calendar year!
Questions This Episode Answers
How did a lawyer overcome paralyzing fear to leave a cush corporate job and launch a startup?
Why did SMB Law Group choose to focus on the neglected Entrepreneurship Through Acquisition (ETA) space?
How can high-quality M&A legal services be delivered profitably with relatively affordable fixed fees?
What is the mechanism that allows legal fees to be effectively financed against the buyer’s required equity injection in an SBA acquisition?
What are the three most critical priorities for a highly experienced attorney when buying their own business?
Enjoy the conversation!
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This week we covered:
00:00 Introduction to Kevin Henderson and His Journey
03:07 Transitioning from Corporate Law to SMB Law
05:45 Innovative Legal Structures for SMB Transactions
09:01 The Importance of Quality of Earnings in Deals
11:51 Kevin Henderson's Rise in the Legal World
15:08 Key Considerations in Business Acquisitions
18:00 Personal Insights and Future Aspirations
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