LIVE - Interest Rates Threatening Deals- We'll Ask Clint Fiore
David C Barnett Small Business and Deal Making M&A SMB
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How Much Does Industry Experience Affect Your Negotiations?
Sellers overemphasize, I would say, on industry experience because they're typically very knowledgeable in the industry. The ideal buyer in the mind of a seller is someone that just looks like a younger version of themselves. If you have good staff and employees that really know the industry inside and out and the seller is going to train you, you can learn industry specific knowledge relatively quickly. And if you have experience in management and finance and these universal business skills, that's often better than industry specific knowledge when you go into owning a business.
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