Weird & Wonderful War Stories with Clint Fiore - Acquisitions Anonymous Episode 102

Mills Snell (@thegeneralmills) is joined by Clint Fiore (@ClintFiore), to talk about 2 War Stories where we get the broker's perspective. We have an aging owner, health issues, family dynamics, and Key operators involved. Then we have a second Deal where there’s some creative financing that must happen in order for the Deal to come through.
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Show Notes:

(0:00) - Introduction to Weird & wonderful War Stories with Clint Fiore
(1:07) - Our sponsor is Cloudbookkeeping.com
(3:39) - 1st story: The owner has a terminal illness & wants to sell
(7:30) - Walk us through a normal valuation process: How many sellers agree with it?
(8:00) - A seller’s perspective on minority owners: Avoid these mistakes.
(11:35) - There’s a systemic risk: General Manager needs to be involved in the Deal
(14:01) - Is it possible to use Equity instead of cash? Did you need third-party appraisals?
(19:25) - What is special about management buyouts?
(22:35) - 2nd story: Winning through a creative earn-out 
(25:34) - How to identify your low-hanging fruit for businesses on sale
(28:22) - What did you turn around to add that value?
(33:30) - What makes a seller pull out after LOI
(40:09) - How did you establish an earnout scheme?
(46:02) - Begin with the end in mind is my biggest advice
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Links:

* https://cloudbookkeeping.com/

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Past guests on Acquanon include Nick Huber, Brent Beshore, Aaron Rubin, Mike Botkin, Ari Ozick, Mitchell Baldridge, Xavier Helgelsen, Mike Loftus, Steve Divitkos, Dzmitry Miranovich, Morgan Tate and more.

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Additional episodes you might enjoy:

#96 From W-2 to Business Owner - Patrick Dichter tells us how to cold reach seller and we discuss 2 Deals

#92 Wait... what? You laid-off 90% of your staff?!? - Pete Erickson joined us for an exciting WarStories episode!

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• Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.
• Do you enjoy our content? Rate our show!
• Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.

For inquiries or suggestions, email us at contact@acquanon.com