No matter what stage you're at in your career, you'll literally never stop selling... • Employers on your ability to deliver results • Customers to buy your product • Talent to work for you • Investors / Lenders for capital • Buyers of your business Never ends.

M&A is no doubt a tiring process for everyone involved. Buyers, Sellers, Advisors, Legal, etc. But after months and months of preparation and hard work... Damn does it sure feel amazing to successfully close!

I mean...

Was an Usher in an old friend's wedding over the weekend. Small town, rural midwestern folk (where I grew up). The amount of alcohol consumed amongst the wedding party, family, and attendees absolutely blew me away. Massive culture shock after 6+ years out of this lifestyle.

A clean set of books is mandatory BEFORE hiring a fractional CFO Because a FCFO can’t do the work until they have “real” numbers to work with Luckily our service solves both problems together ;)

I don't know who needs to hear this but if you're in the eCommerce game... You should be building brands. Not selling an assortment of random products. The first can lead to a profitable exit, the latter rarely (if ever) can.

What to Look for in a Good Due Diligence Provider 1. Experience: Ensure they have extensive experience with high-stakes projects to avoid deal-threatening mistakes. 2. Speed:  Look for a provider that can deliver results quickly, typically within two to four weeks, to meet

After a 1 year hiatus, will be getting back into the habit of posting content on this app again. M&A insights in the digital & SMB space.

Have seen a lot of poorly managed M&A due diligence processes over the years. The #1 mistake from both sides: Sellers - not having documentation prepared ahead of signing an LOI. Buyers - inadequate financial or legal review.

Three Steps to a Fast and Successful DD 1. Have a DD Provider Ready: Reach out to your due diligence provider before signing the LOI. It's best to sort out project details in advance. 2. Schedule the Kickoff Call ASAP: This will get the project moving quickly. 3. Regular

If you're partnering with a seller who will help operate the business, ensure you have a mechanism in place to terminate their involvement and buy back their equity if things go poorly. They often do.

The simplest way to understand M&A multiples is to think of them as a measure of risk for investors. Higher risk of capital return = lower multiple Lower risk of capital return = higher multiple

Pro tip for first time biz-buyers & searchers: When speaking with investors, lenders, brokers, etc Don't tell them this acquisition will be the first of many inside your *future* portfolio / holdco What this says in reality is you're not focused on getting the first one right

A P&L provides insights about a company’s prior performance And while margins might look great in the TTM Ultimately a buyer or investor will still need to be convinced about the future direction Don't underestimate the importance of storytelling during an M&A process

Beware of the Expert Curse Ever heard of the expert curse? It’s a cognitive bias where experts forget what it’s like not to have their knowledge.. Which can lead them to undervalue their expertise. For example, you might be an expert in your field and think your knowledge is

The best asset class in the world is a diversified portfolio of SMBs. Nothing else comes close.

SMBs > Real Estate SMBs get (at least) the returns of real estate but without all the leverage. If adding leverage, then a portfolio of SMBs far outperforms a real estate portfolio. (Tax savings don't compensate for this)

I swear every Seller is just looking for a Buyer to "Take the business to the next level"

I know several people who left big tech around 2022 to go try their hand at blue collar businesses. All but 1 are now back in big tech. I nod earnestly when I tell them “yeah who knew that cash flowing a laundromat in Sacramento would be harder than earning $236,000 and a 20%

Quite the Tuesday morning investment 🚀 In it for the long haul. $QQQM and $VOOG