025 - What to do when you're approached by a buyer (part 1), with Mike Counihan (Transcend Partners)

Company sales: the miracle all entrepreneurs and business owners aspire to, mostly because we're bombarded every day with company exits news, and articles about serial entrepreneurs selling their 14th startup before they turn 40.

However, the reality is very different. Selling a company is an overly-complicated process that drags along for many months, taking your focus away from your company, and in a lot of cases, the business owners don't see a nickel as a result. That is, if the process ever makes it to the agreement stage, so in a lot of cases, we're seeing what is called "survivorship bias".

But one thing is still true: as business owners, we're all likely to receive offers for our companies. In fact, in 2017, we received an invitation to initiate talks about a potential acquisition, and if you want to learn the rest of the story, you should listen to this podcast.

This time around, we talk to Michael Counihan about what happens when you're approached by a buyer. We wanted to cover the whole cycle, but the episode came out so long that we had to split it in two.

In this first part, we'll be talking about the initial exchanges of intentions, what protocols to follow, how to behave in the meetings, what things to do and what NOT to do, how to bring more offers to the table, when's the right time to engage with an M&A boutique and more.

Michael is the Managing Director of Transcend Partners (www.TranscendPartners.com), a technology focused international M&A boutique. Michael has executed company sales, mergers and acquisitions across a wide variety of technologies. He regularly speaks with acquirers and investors all across Europe, North America, Latam, Middle East, Asia and Australia.

But most of all, Michael is a very great guy. Trust us. You'll like Michael.

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