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Summary of lessons learned from the four stories...
A second-generation family owned business started in the 1950’s where there was no succession plan in place had a sales price number that they needed to get for the sale of the business. Fear surrounding being able to get that number dictated how decisions were made in trying to sell the business.
Medical Billing Company:
A Medical Billing company where the partners had disagreements that landed them in court and where the judge, through a court order, forced the business to be sold as a way to resolve their dispute. Their company had figured out a way to build a better mouse trap that was highly valued in the market. A strategic buyer entered the picture and what happened during the negotiations and how the actual business was not what the buyer was primarily looking to buy.
An electrical contractor was able to head off attempts by a buyer to drive down the price of business.
Shower Glass Door Company:
A buyer’s big vision was in alignment with a seller’s willingness to help the buyer achieve this vision and why this concept of alignment is so important for buyers and sellers to understand.