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I recently had a fascinating conversation about fees with another M&A professional. We have never worked in the same geographic region, and had no hesitation about openly discussing our firm’s fee structures. His firm is considerably larger than mine. They employ dozens of professionals, associates and support people. We agreed pretty quickly on what reasonable […]

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I’m pleased to announce another full day Exit Strategies Workshop at SFU Downtown Vancouver on September 17, 2013. Attendees consistently rate the Exit Strategies Workshop as excellent. Here’s some feedback from previous atteendees. Joining me again are Steve Lukas, Axel Christiansen, Prentice Durban and Steve MacDonald. Here’s more on the speakers. The Exit Strategies workshop […]

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Prentice Durbin

In the tenth presentation at the Exit Strategies Workshop 2012, Prentice Durbin discusses exit legal planning. Prentice describes the essential legal processes which should be started early to ensure a successful exit. He calls this “Planning for Payday”. Highlights of Part 10 – Legal Planning (Planning for Payday): Be prepared. Image and Perception. Reduce transaction […]

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Steve Lukas

In the twelfth presentation at the Exit Strategies Workshop 2012, Steve Lukas describes why you should fear the Representations and Warranties. Highlights of Part 12 – Fear the Representations and Warranties: What is a representation and warranty? What is a covenant? What is a condition? Disclosure, Insurance and Risk allocation Make representations true! Schedule exceptions […]

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Distance to the M&A Advisor (in miles)

When CEOs and boards begin to look for an M&A Advisor, they often start in one of the big financial centers like New York or Boston. For most transactions under $100 million, I believe an M&A Advisor more than a couple of hours away by car is usually a bad choice. One of the dirty […]

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I’m pleased to announce a special version of the Exit Strategies Workshop in Victoria, BC on May 22, 2013. Attendees consistently rate the Exits Workshop as one of the best. Here’s some feedback from previous atteendees: http://www.exits-workshop.com/testimonials.html Two Victoria resident CEOs will describe the inside stories on their very successful exits. Mark Longo, a Viatec […]

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Valuation Principles - Growth

My bookshelf has an entire section of books on valuation. Even though I deal with valuation every day, I haven’t looked at any of those books for at least a couple of years. It’s just not a process you need reference books for. Most of the time, acquisition valuations can even be done without a […]

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How Not to Sell a Business

This is the first time I’ve described all of the things we did wrong the first time I tried to sell a business. It’s also the story of the first time I lost several million dollars. How Not to Sell a Business – Don’t Blow The Biggest Deal of Your Life This is a talk […]

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Sellability_Score

The Sellability Score was created by my friend John Warrillow who also wrote Built to Sell. If you are thinking about selling your business now, or at some point in the future, the Sellability Score will be valuable to you. A Sellability Score is an external, unbiased evaluation of your business’s worth on the open […]

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Only 25pct of Saleable Companies Exit

I’m convinced that only about 25% of the businesses that could be sold actually end up successfully exiting. Yes. I believe that about three out of four times when a company could have been successfully sold, a sale did not end up happening – ever. And most of the time, it was avoidable. The Frustrating […]

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