No Surprises: Taking the sting out of due diligence

If there is one thing that buyers of or investors in privately-owned businesses hate more than anything else, it is surprises (and I’m not talking the more than welcome gift-wrapped ones): unsigned contracts, undetected accounting anomalies, undisclosed...

Get big, get niche or get out

Lunching with an associate recently I was reminded of this phrase in relation to business strategy: get big, get niche or get out.  To me, it encapsulated beautifully one of the key drivers of exit-readiness: appeal. Why is it so pertinent?  Fundamentally, if your...

Would YOU buy your business?

It’s a poignant question for business owners when you really think about it.  Taking a step back and looking at a business objectively is very difficult when it’s the product of your own blood, sweat & tears. Still, as part of the valuation process it...

The Earn-Out Alternative

Earn-outs are incredibly popular in sale/purchase transactions, particularly in IP- and principal-reliant business models (e.g. recruitment, marketing/communications, PR, management consulting).  The primary objective of the earn-out is risk mitigation, in which the...

Beware the direct approach

We often receive calls from business owners who have been received an unsolicited approach from a potential purchaser, wanting advice on the offers that have been tabled.  This approach has often kindled an interest in or desire to sell the business, so the enquiry...