Defenders of Business Value EP 89: M&A Masterclass: Twitter Spaces Replay
Welcome to "Defenders of Business Value Podcast"! In this exciting episode titled "M&A Masterclass - Twitter Spaces," we are thrilled to bring you an engaging discussion on working with a business broker when buying a business. Ed participated with Kevin Henderson, Clint Fiore, and Eric Pacifici.
The topic was how to work effectively with a business broker. Ed and Clint contributed to Eric and Kevin's masterclass newsletter and this Twitter Space was a follow up to it. The following were the key take aways:
- Communicate your needs: Clearly articulate your specific requirements, such as industry preferences, desired location, investable funds, and desired business size.
- Establish trust and rapport: Build a relationship based on trust, transparency, and open communication with your broker.
- Provide feedback: Offer prompt and constructive feedback on potential opportunities. If it meets your acquisition criteria, explain why you are passing.
- Stay engaged and responsive. Ghosting is bad form.
- Network with the broker's connections. Working with me, you can access the people I work with regularly. This network effect will help you find deals faster.
- Be prepared and flexible: As a buyer, move swiftly when a promising opportunity arises. Have your financing in order, be ready to conduct due diligence promptly, and be flexible in your negotiation approach to maximize your chances of securing the deal.
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About the Show
The Defenders of Business Value Podcast combines nearly 31 years of valuation and exit planning expertise working with business owners. Ed Mysogland has a mission and vision to help business owners understand the value of their business and make it a salable asset. Most of the small business owner's net worth is locked in the company, and to unlock it, a business owner has to sell it. Unfortunately, the odds are against business owners that they won't be able to sell their companies because they don't know what creates a saleable asset. Ed interviews experts who help business owners prepare, build, preserve, and one-day transfer value with the sale of the business.
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