Online Conference Registration Closes October 25, 2016
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What is Your Deal Maker Mindset?
Joe Lindsey, M&AMI, CM&AP, CBI
Chairman: The M&A Source Board of Directors
Warning:
For all you non-golfers out there, please bear with me. This article references golfers who were more prominent a few years ago than they are today, but it's more about approaches to deal making. Even though the references are a bit dated, the message still rings true today.
In April 2011 John Feinstein (Contributor: GolfChannel.com) wrote an article entitled "The Major Difference Between Tiger and Phil." Just before that year's Masters Tournament, Tiger Woods and Phil Mickelson were asked what it means to come back each spring. Phil answered by saying "When I drive down Magnolia Lane, I get re-energized with the game of golf... I could easily forget week in and week out playing the PGA Tour how lucky I am to play the game. All of the feelings come back when I drive down Magnolia Lane. It just reinvigorates my passion for the game."
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Michael S. Salvador, Ph.D.
Executive Director, Executive Education Programs
Co-Director, Coles College of Business M&A Academy
Kennesaw State University, Kennesaw, Georgia U.S.A.
Introduction
I
n their zeal to consummate what is often perceived as a strategic "win" for either a buyer or a seller, all parties involved in an M&A transaction typically rely on a host of quantitative information - financial and non-financial in nature - to manage negotiations, seek compromise, anticipate post-transaction deal performance, and create post-transaction business plans. But, as much research has proven over the years, the ultimate success of an M&A transaction tends to be grounded in the implementation of business combinations. Deal specifics generally are fleeting memories if post-transaction results meet or exceed a buyer's expectations (and/or the seller's expectations, particularly if they are actively engaged after the transaction in some way). Naturally, if expectations are not met, this is not the case. The global business "graveyard" is littered with well-conceived business combinations poorly implemented, often accompanied by lingering buyer and/or seller remorse.
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Gary Miller
SDR Ventures
Lacking sufficient capital to grow is the major constraint for most small and middle market companies. To reach the next level of success, capital is the fuel that drives the company's growth engine. Without it, reaching that "next level" is almost impossible. Many entrepreneurs are skilled at starting and building small successful companies. But growing a small company into a big one is very different, and in many ways, a more difficult task which is why raising growth capital is so important. Entrepreneurs and business owners often stumble in obtaining growth capital because they are inexperienced and unprepared.
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Grant Robinson, Contributing Writer
Article reprinted courtesy of Divestopedia
Takeaway: An estate freeze is just the tip of the iceberg in family business succession planning. Follow these best practices to prevent family members from being left out in the cold.
Used properly in conjunction with a comprehensive family business planning best practice strategy, the estate freeze tool is potentially powerful and can do good things for a family. However, I find most entrepreneurs and family members don't understand the implications and consequences of the tool if it is used in isolation as a tax planning tool - which in my experience, it typically is.
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Scott Yoder, Contributing Writer
Article reprinted courtesy of Divestopedia
Takeaway: A management buy-out or buy-in can be an excellent alternative to selling your company. Here are three steps to help you evaluate if selling to your management team is right for you.
As an integral part of any well-prepared equity divestiture strategy, you should explore and vet out each of your available exit channels. Doing so allows you to select the most effective and efficient path to achieve all your ownership goals (
personal, family, business and financial
). Ideally, before fully vetting any exit channel, you should be prepared personally, your company should be running at peak performance and the markets should be favorable for a transition.
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