By David Seitter
The podcast currently has 56 episodes available.
In this episode of "Show Me the Way," Dave and guest Brett Gordon, Founder and President of McCownGordon Construction, explore his incredible journey from entry-level construction worker to C-suite executive, owner of a construction company, and philanthropic leader. He also discusses the why he chose an ESOP as his exit strategy for selling the business.
Brett’s journey began in California, but his family soon moved to Iowa, where he spent his early years before the family relocated to Denver. Brett later graduated from Thomas Jefferson High School in Denver and pursued higher education in construction science at Colorado State University.
After college, Brett joined J.E. Dunn Construction Company in Kansas City, where he started at the entry-level and quickly demonstrated his knack for handling large construction projects. Despite economic challenges, Gordon proved his mettle by taking on significant responsibilities and establishing a solid foundation in the industry.
An ambitious spirit led Brett to join Walton Construction Company, a small firm where he quickly rose through the ranks. There, he wore multiple hats, managing operations, sales, and hiring. Through his hard work and dedication, Walton transformed from a $6 million-a-year company to a $750 million-a-year enterprise.
In 2001, Brett decided it was time to start his own business with his long-time colleague, Pat McCown. With just a small project to start, they built McCownGordon Construction from the ground up. Despite beginning with minimal resources and performing many tasks themselves, including demolition and cleanup, Brett and Pat's tenacity paid off. The company quickly scaled, achieving remarkable growth and completing numerous large-scale projects.
Under Brett's leadership, McCownGordon expanded significantly, ultimately becoming a billion-dollar enterprise with 1,500 employees. The success can be attributed to three core values: honesty, integrity, and performance. These principles, deeply embedded in the company's culture, ensured that every associate and client was treated with respect and fairness.
As Brett began planning his exit strategy, he wanted to ensure the company's continuity and reward the associates who contributed to its success. This led to the establishment of an Employee Stock Ownership Plan (ESOP), making all associates co-owners of McCownGordon. By transitioning to a 100% ESOP, Brett and Pat ensured the company remained in capable hands, fostering a sense of ownership and responsibility among the employees.
Philanthropy has always been close to Brett's heart. Even during challenging economic times, McCownGordon committed to giving back a portion of its profits to the community. Post-retirement, Brett continues to focus on philanthropic initiatives, supporting organizations that make a meaningful impact on people's lives.
As Brett reflects on his journey, he emphasizes the importance of client care, maintaining core values, and treating associates and clients with respect. His story serves as an inspiration to entrepreneurs and business owners, highlighting the significance of humility, integrity, and relentless pursuit of excellence.
Brett Gordon's story is a remarkable example of what one can achieve with dedication, perseverance, and a clear ethical compass. From sweeping floors to building a billion-dollar enterprise and giving back to the community, Brett's journey offers valuable lessons for anyone aspiring to make a mark in the business world.
If you want to get in touch with Brett Gordon, he can be reached via his McCownGordon email at [email protected].
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of "Show Me the Way," Dave and guest Rita Cortes, Executive Director of the Menorah Heritage Foundation, to delve into her incredible journey. Rita, the first girl to play boys baseball in Kansas City, shares her experiences from practicing attorney, CEO of a construction company, to leading philanthropic efforts in Kansas City. She also gives insights on succession planning and retirement.
Rita has crossed various domains, from law to business to philanthropy. She began playing baseball in Kansas City before becoming an attorney, CEO of a construction company, and now a significant player in philanthropic organizations. Her story is not just about career progression; it's about breaking barriers, continuously evolving, and giving back to the community.
Born and raised in Kansas City, Rita attended Barstow School and Pembroke Hill School. She grew up with a strong support system from her family, which ingrained in her the value of hard work and persistence. Rita was actively involved in sports and was fortunate to play numerous sports including tennis, basketball, and field hockey. She played basketball in college at Rice University and later transitioned to soccer, where she played as a goalie despite never having played soccer before.
Rita spent her summers working on Capitol Hill for various Midwestern politicians, including Senator Bob Dole and Representative Jan Meyers. This experience piqued her interest in law and public policy, leading her to attend George Washington University Law School. She practiced law in the DC metro area, primarily focusing on bankruptcy litigation. Dealing with real estate recession cases armed her with invaluable lessons on resilience and strategic problem-solving.
After practicing law, Rita returned to Kansas City to join her family's commercial construction business, Hoffman Cortes Contracting. Her journey was not straightforward; it involved rigorous negotiation and learning. Eventually, she took over as CEO and significantly grew the company's revenue and employee base. Rita emphasized the importance of external experience for any family member joining a family business, as it brings valuable insights and objectivity.
One of the more profound lessons Rita shares is the complexity of succession planning in family-owned businesses. She underscores the necessity of clear communication and roles within the family. She recounts, for instance, how calling her father by his first name in professional settings helped her distinguish personal relationships from business decisions.
After leaving the construction business, Rita had a successful stint as a partner at a competing law firm before being offered the role to run Menorah Heritage Foundation. Here, Rita found her calling in helping give away money to philanthropic causes, a role that leverages her extensive experience in law, business, and community engagement. The foundation is focused on enriching the Kansas City area, particularly the Jewish community and broader Midwest.
Rita believes in the idea of "rewiring" rather than retiring. She sees herself continually engaged in meaningful work, whether in an official capacity or through volunteer roles. She currently serves as the chair of the board for Kansas City Public Schools, using her expertise to contribute to educational improvement.
If you found Rita's story inspiring, feel free to reach out to her via her professional email at [email protected] or explore her work with the Kansas City Public Schools.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of "Show Me the Way," Dave and guest Kirk May, a distinguished first chair trial attorney, delve deep into the world of business disputes. Kirk shares stories from his extensive legal career, offers invaluable lessons on both large and small business litigation, and provides insightful advice for business owners.
Kirk shares his journey, starting from his early life in Springfield, Missouri, to his education at Duke University and the University of Tulsa College of Law. He highlights his 43-year career in litigation, primarily in commercial law, across various states. Kirk humorously acknowledges his lack of experience in traditional divorces but asserts his expertise in business divorces.
Kirk delves into his first significant business dispute case, offering lessons learned from the experience. He emphasizes the importance of understanding the business you're acquiring and the perils of entering unfamiliar territory. He cautions against expecting too much from a deal, advising instead to aim for reasonable, sustainable returns.
Kirk suggests bringing a healthy dose of skepticism to any transaction. He illustrates this with a personal anecdote about learning accounting on the job and applying a critical eye to every deal. This skepticism, he argues, helps in fairly evaluating transactions and avoiding pitfalls.
Kirk advises business owners to have a litigator review agreements, as litigators often foresee potential issues that transactional lawyers might miss. This foresight can prevent future disputes and ensure smoother transactions.
A common question Kirk addresses is whether to include arbitration clauses in agreements. He explains the pros and cons, noting that arbitration is not always cheaper or faster and can sometimes be just as complex and costly as traditional litigation. The decision, he says, depends on the specific circumstances of each case.
Kirk advises business owners to consult with a lawyer to determine whether they need legal representation. He stresses the importance of seeking legal advice to avoid costly mistakes and ensure that agreements are structured to protect their interests.
In closing, Kirk offers three pieces of advice for business owners considering selling their business:
Dave wraps up the episode thanking Kirk for sharing his wisdom and insights. He encourages listeners to reach out to Kirk for their legal needs and emphasizes the value of the lessons learned from this engaging conversation.
For those interested in contacting Kirk May, his office number is: 816-460-3303. He can also be reached via email at [email protected]
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of "Show Me the Way," Dave and guest Lora Cheatum, the recently retired SVP and Chief HR Officer at KC Southern Railway, dive into the complexities of HR integration during mergers and acquisitions. They give insights into how to effectively manage cultural integrations and operational synergies, the critical phases of decision-making, closing day preparations, and post-merger strategies.
Lora begins by sharing her extensive career journey. Over her 25-year HR career, she has navigated numerous corporate changes, including mergers, acquisitions, divestitures, and even bankruptcies.
Dave prompts Lora to discuss the specific roles HR plays during the acquisition of a business. Lora explains that HR’s responsibility is to ensure a smooth transition and integration. She emphasizes that the integration of people is as crucial as operational synergies, and that effective communication with employees is key to achieving success.
Lora shares insights on the due diligence process from an HR standpoint. In heavily regulated, publicly traded companies, the information that can be shared is limited. However, ensuring cultural and operational alignment through methods like cultural gap analysis is essential. This process involves surveying employees from both merging companies to identify similarities and differences, helping to foresee and manage challenges.
Culture is often cited as a critical factor in M&A success. Lora notes that cultural clashes can lead to failed transactions and decreased business performance. Recognizing and transparently addressing cultural differences can mitigate these risks. Lora shares an example of a successful cultural integration process involving a thorough cultural gap analysis that helped her understanding and managing integration challenges effectively.
Lora cannot overemphasize the importance of communication and transparency. She stresses that employees are the greatest assets in any company, and their concerns need to be addressed clearly and promptly. Sharing relevant data and having open conversations about the future can prevent uncertainty, which often leads to insecurity among employees.
Dave and Lora discuss the critical decisions HR professionals need to make leading up to and immediately after closing a deal. Lora recounts examples from her experiences, including a successful transition spinning off Yum! brands from PepsiCo. The new company made a significant effort to celebrate the change and ensure employees felt valued and integral to the new organization, setting a positive tone from day one.
Lora explains the nuanced differences between managing M&A from the sell side versus the buy side. While the sell side focuses on advocating for the outgoing employees, the buy side must assess the skills and culture of the incoming employees to ensure a smooth integration. Both sides, however, must rely on data-driven decisions to manage the transition effectively.
Integration is a lengthy process. Lora emphasizes that mergers and acquisitions can take years to fully integrate and that maintaining a positive mindset throughout is crucial. Viewing change as an opportunity rather than a hurdle can lead to personal and professional growth.
Lora wraps up the episode by summarizing the key points:
Lora adds that HR professionals must put themselves in the shoes of the employees to understand their concerns and focus on building a new, cohesive culture.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In the landmark 50th episode of "Show Me the Way," Dave takes his listeners on an enlightening journey into the intricate world of business succession planning. This special international edition features Nicholas Rivera, Cofounder of Bristol Consultores in Colombia, illuminating the unique challenges and strategies involved in transferring family-owned businesses across generations and borders.
Nicholas Rivera, born and raised in Bogota, Colombia, began his career in finance at Sergio Arboleda University. His early experiences as an investment banker and management consultant laid the foundation for his expertise in business strategy, growth, and financing. By 2020, Rivera co-founded Bristol Consultores, focusing on helping struggling businesses navigate the challenges posed by the COVID-19 pandemic. A key aspect of Bristol Consultores' work involves assisting older business owners, particularly Hispanic families, in creating viable succession plans.
One of the standout points in Rivera’s approach is the emphasis on emotional intelligence. He highlights that the most significant pitfalls in business transitions often stem from emotional rather than financial or technical issues. Rivera's experiences reveal that the emotional handling of business owners and their families is crucial for a successful transition.
Rivera shares compelling anecdotes that illustrate the emotional and financial dynamics of these transitions. One notable example involves a company that had been losing money for 11 years. A heartfelt but harsh outburst from the founder's son during a tense meeting underscored the deep emotional stakes involved. Through strategic restructuring and setting realistic expectations, Rivera’s team managed to turn the company around, securing a win-win situation for both the founder and the new CEO.
Rivera provides three crucial pieces of advice for parents looking to transition their business to their children:
A recurring theme is the reluctance of the next generation to take over family businesses, often seeing it as a source of struggle rather than opportunity. Rivera addresses this by emphasizing that business can and should be enjoyable. By redefining the role of the next generation and providing them with more substantial decision-making power, many potential conflicts can be alleviated.
Rivera's insights reveal that the successful succession of family businesses requires a blend of financial acumen and emotional intelligence. His methodology, which combines restructuring, realistic expectations, and preserving family harmony, has proven effective both in Colombia and within the Hispanic business community in the United States.
For those interested in ensuring a smooth and prosperous transition of their family business, Rivera and his team at Bristol Consultores offer invaluable expertise. Their work highlights the importance of addressing emotional dynamics and involving professional strategies to create successful business succession plans.
For more information and resources, visit Nicholas Rivera’s Bristol Consultores on their website or connect with them on LinkedIn and YouTube.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of “Show Me The Way,” Dave talks with Dr. Henry Silvestriz, Doctor of Chiropractic Services, and President & CEO / Co-Founder of Vinci Holdings, LLC, exploring Henry's journey from his humble beginnings in Puerto Rico to his recent ventures into the world of mergers and acquisitions (M&A). Learn about the challenges he's faced, the lessons learned, and the exciting future ahead.
Henry was born in Puerto Rico in 1982. He completed his high school education on the island before enlisting in the Army in 2001. His military stint as an artillery specialist offered him unique experiences, but it wasn’t until after his service that he found his true calling.
After leaving the Army, Henry joined the Dallas Police Department, serving for seven years. His career took a turn when he decided to pursue chiropractic studies at Life University in Georgia, graduating in 2018. His interest in the field extended beyond personal practice; he actively participates in chiropractic mission trips to Guatemala with Tanaka Chiropractic Missions, providing care to underserved communities.
Inspired by the teachings of Dan Pena, Henry set his sights on the business world. With the encouragement from Pena's seminars, he realized that one didn’t need to be wealthy or have a specific degree to buy a business. Thus began Henry's journey into the M&A space, eventually founding Vinci Holdings with his father.
Vinci Holdings has carved out a niche in the healthcare sector, focusing primarily on technology within healthcare, such as Electronic Health Records (EHR) systems and clinics. Henry and his team began actively searching for acquisition targets in September 2020, starting with modest goals and gradually moving to larger deals.
Henry’s first acquisition is close to completion, and he shares invaluable lessons from the process. Establishing relationships with sellers is crucial since they are entrusting their company's legacy and their employees' future. Furthermore, it is essential to perform thorough due diligence, not only on the target businesses but also on the service providers assisting in the due diligence process. Henry recounts a costly lesson when he had to switch accounting firms midway through due diligence to get the quality of earnings report right.
Henry offers practical advice for sellers to enhance their likelihood of a successful sale:
Reflecting on his journey, Henry notes the importance of not limiting oneself to small deals. Pursuing larger targets can often be more fruitful and less cumbersome in the long run. He looks forward to growing Vinci Holdings by continually acquiring more businesses in the healthcare sector and leveraging his initial success to propel future endeavors.
For those interested in learning more about Vinci Holdings or seeking partnership opportunities, Henry is active on LinkedIn and encourages direct contact. His openness to conversations underscores his commitment to building relationships and expanding his network.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of “Show Me The Way,” Dave reconnects with Karl Dakin to discuss critical aspects of business funding and deal-making. Karl, an expert in capital strategies for businesses, shares his extensive knowledge on finding the right investors, understanding the unique needs of each business, and the importance of proper preparation before selling a business.
Dave kicked off the episode with an enthusiastic introduction of Karl Dakin, a man with whom he has shared a history. Despite their different career paths, both have remained connected through their professional endeavors.
Post-law school, Karl moved to Denver, Colorado, where he ventured into software engineering before eventually starting his own law practice in 1986. His knack for high-tech and complex technical issues has made him a sought-after attorney and entrepreneur.
Much of the discussion centered around the importance of understanding funding, especially in the realm of business succession planning, mergers, and acquisitions. Karl offered several golden nuggets of wisdom:
Karl shares an inspiring success story about a sports widget manufacturer. By identifying a supplier who would significantly benefit from the manufacturer’s growth, Karl secured a $200,000 investment after a single pitch. This highlights the importance of aligning your business growth with the interests of potential investors.
Entrepreneurs should build a robust board of directors and advisors, leveraging their networks for business growth and funding. This support system can introduce you to a wider audience and potential investors, thereby increasing your chances of securing necessary funding.
If you find Karl’s insights valuable and want to reach out to him for assistance, you can contact him through several avenues:
- Website: http://www.dakincapital.com
- LinkedIn: Karl Dakin
- Phone: 720-296-0372
Karl's expertise could be the key to unlocking the potential of your business through strategic funding.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of “Show Me The Way,” Dave sits down with Hetrick to uncover the twists and turns of his remarkable journey—from his beginnings in the SEAL Teams to building a fitness empire with TRX, and now venturing into a new business with Outfit Training. He discusses the highs and lows of entrepreneurial life, including raising private equity, managing a business during a pandemic, and navigating a company through bankruptcy and bad investors.
Randy Hetrick was born in Southern California in Santa Ana and spent his formative years enjoying the idyllic beaches of SoCal. His educational journey led him to USC, where he was a rower. Despite an early life filled with athleticism and sun-soaked beaches, an unexpected pivot came during his junior year in college. Driven by a desire to serve his country and test his limits, Randy was drawn to the SEAL Teams, where he flourished.
Hetrick’s impressive stint with the SEAL Teams included training and missions worldwide. His time with the SEALs instilled in him tenacity and resourcefulness—traits he later carried into the business world. He humorously recounts adding to his slogan thanks to other veteran friends: “If you have two arms and two legs, the suspension trainer loves you. But even with one arm or one leg, it’s a fantastic tool.”
After retiring from the SEALs, Randy attended Stanford Business School, where he used his experiences to incubate what would become TRX. Born out of necessity, the TRX Suspension Trainer was initially just a clever tool for his SEAL teammates. However, recognizing its broader potential, he launched it to the public in 2004.
Hetrick's journey in building TRX was filled with highs and lows, from experiencing soaring growth to navigating through disastrous private equity partnerships. “The first group of private investors were useless but not sinister,” he mentions, candidly. The second group, however, led the company into significant financial distress, culminating in a near collapse.
By 2020, TRX faced deep financial troubles. However, leveraging his experience and an intense drive to reclaim his business, Randy orchestrated a buyout from bankruptcy with a new partner, Jack Daly. Remarkably, they pulled TRX back from the abyss, restoring profitability and stabilizing the brand.
Hetrick's entrepreneurial spirit didn’t stop at TRX. Observing the inefficiencies in the traditional fitness market, he launched Outfit Training—a mobile fitness service. Inspired by outdoor activities and the need for accessible and scalable fitness solutions, Outfit Training uses technologically advanced mobile vans filled with fitness equipment. This venture aims to revolutionize fitness by bringing it directly to consumers in parks and personal spaces.
Outfit Training isn’t just about innovation; it’s also about providing opportunities for small business ownership, especially targeting veterans, fitness professionals, women, and minority entrepreneurs. “It’s a business model designed to be capital-light and can be scaled up incrementally, offering a great opportunity for those looking to own a small business,” Randy explains.
Throughout the podcast, Hetrick shares invaluable lessons he has learned over the years:
Randy's story underscores that success in business, much like climbing a mountain, requires determination, strategy, and resilience.
Interested in learning more or getting involved with TRX or Outfit Training? Here are some ways to connect:
- TRX Website
- Outfit Training
- Franchise Opportunities
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of “Show Me The Way,” Dave sits down with Bill Conway, Managing Director at RubinBrown Corporate Finance, to sheds light on the intricacies of investment banking, the role it plays in business transactions, and the value it brings to clients seeking financial advice and strategic guidance.
Dave introduces Bill Conway, a seasoned professional with nearly 30 years of experience in the investment banking realm. Hailing from Kansas City, Bill shares insights into his career journey, highlighting his passion for helping clients navigate the complex world of mergers, acquisitions, and capital raising. His extensive knowledge and strategic approach to investment banking make him a sought-after advisor in the industry.
As the conversation progresses, Dave delves into the core question of what exactly an investment banker brings to the table. Bill eloquently explains that investment banking serves as a financial advisory service that facilitates transactions between buyers and sellers in the marketplace. Beyond numbers and deals, investment bankers offer strategic guidance, capital market expertise, and years of experience to help clients achieve their financial goals.
Throughout the discussion, Bill shares valuable insights into the challenges faced in the investment banking world. From deal fatigue to the importance of thorough due diligence, he emphasizes the critical role of time and expertise in closing successful transactions. By examining real-world scenarios and offering strategic advice, Bill provides a comprehensive view of the nuances involved in the investment banking process.
Reflecting on his career, Bill shares that the ultimate satisfaction in investment banking comes from delivering successful outcomes for clients. While monetary success is a factor, the true measure of achievement lies in helping clients achieve their goals and set the stage for future growth and success. By fostering strong relationships and offering tailored advice, investment bankers like Bill contribute to the long-term success of businesses and individuals.
Dave and Bill underscore the importance of hiring a trusted advisor in the complex world of investment banking. By seeking independent expertise, staying focused on strategic objectives, and fostering open communication, clients can navigate the intricacies of financial transactions with confidence and clarity.
Bill Conway offers a rare glimpse into the world of investment banking, highlighting the strategic thinking, expertise, and dedication required to succeed in this dynamic field. As businesses continue to evolve and seek growth opportunities, the role of investment bankers as trusted advisors remains paramount in guiding clients towards financial success and strategic growth.
To reach out to Bill visit https://www.rubinbrowncf.com/ or find him on LinkedIn
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
In this episode of “Show Me The Way,” Dave sits down with David Churchman, CFO at Midland Industries, to learn from David’s vast experience in mergers and acquisitions (M&A) from multiple perspectives: as a CPA, CFO, and consultant. They delve into strategic preparation of businesses for sale, the importance of understanding the financial intricacies of M&A, and the distinction between strategic and financial buyers.
In the world of business, mergers and acquisitions (M&A) serve as pivotal moments that can shape the course of companies and industries alike. Understanding the complexities and strategies involved in M&A is crucial for any business looking to grow or transition. David Churchman shared invaluable insights based on his extensive experience in M&A, offering a unique perspective on preparing businesses for sale and successful acquisitions.
David stresses the importance of preparing your business always as if you're going to sell it, but also approaching it as if you're going to buy it yourself. This dual perspective challenges business owners to evaluate their operations, financials, and strategies from both sides of the transaction. By viewing the business through the lens of a potential buyer, owners can identify strengths and areas for improvement that may enhance its marketability.
One of the challenges inherent in the M&A process is deal fatigue, which David acknowledges as a real and persistent issue. As the transaction progresses, the volume and complexity of questions multiply, requiring thorough and consistent responses. Managing deal fatigue necessitates effective communication, strategic breaks to re-energize, and a proactive approach to address repetitive inquiries.
David emphasizes the significance of acknowledging the post-acquisition landscape, where the dynamics and expectations shift significantly for all involved parties. For acquiring companies, adapting to the new realities within the acquired business and supporting employees through uncertainty are critical tasks. On the flip side, selling companies must navigate through the aftermath of the deal, managing expectations and leading effectively through the transition.
To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]
Disclosure
This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.
The podcast currently has 56 episodes available.
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