48 Deals in 2.5 Years – Here's What I Learned
M&A Talk: #1 Podcast on Selling a Business
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Is There a Hard Stop?
I have a philosophy that when you're buying a small business in many ways, the faster the owner exits the better because owners do not make good employees. Sometimes they want to stay on and being employed by the company which I think is a very strange attitude. So I always think that exiting the owner is a good thing but there should be a sufficient hand over period. The hard stop is where you buy the business on Monday morning and at 12 o'clock and the owner exits at one minute past 12. That is very disconcerting for the staff, for the customers, for suppliers and not to be recommended.
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