Frank and Wanda (not their real names) are avid golfers. Members at one of Nashville’s finest country clubs, they play at least once a week. They even take an annual golf vacation, having recently returned from a vacation to the home of golf in Scotland. I met Frank and Wanda on the recommendation of their wealth planner. They are interested in selling the company they started in the late ‘90s. They told me they Read More

The offer was not expected. Bruce (not his real name) was surprised when he got a call from a respected private equity (PE) professional asking if he could fly from Chicago to have lunch. “If he wants to fly down just for lunch, I thought I should hear what he had in mind,” Bruce told me during our first phone call. As it turns out, the PE guy’s firm already owned a company in St. Louis much like Bruce’s, and the PE Read More

Don (not his real name) was smart, but his errant comment cost him $35 million. In just 12 years, he had built his company to be the largest in his industry. Don was a rock star, and his company’s future was bright. But Don had taken the company as far as he wanted to take it. Though just 44 years old, he was ready to sell the company and realize his life’s ambition to play golf on six continents (did you know, there Read More

“It is a big idea and takes us in a whole new direction. Only a few companies in the entire country are doing it, we must go for it!” Jordan (not her real name) was darn near breathless as we talked about her business plan. She retained me a few weeks earlier to help her think through expansion options, ranging from raising third-party capital, giving key employees equity instead of compensation, or selling the Read More

People know when it’s time to call the undertaker. The signs are obvious. Though it’s an exceedingly painful task, we confront the difficult circumstances because we know we have no choice. It’s less obvious to know when to call hospice, that awful time when you recognize the patient is likely to die and needs comfort. It’s a hard thing to see, much less admit. It should therefore not be surprising that most business Read More

“They have been hounding me for months, they say my business is hot, and they really want to be in Nashville.” Sarah (not her real name) has paid her dues for over 25 years. She is being courted by a national competitor who wants to move into Nashville by acquiring her business. “I’d sure rather sell to them than compete against them,” she recently told me over lunch. “After doing this for two decades, I’m ready to Read More

Last year I was engaged to sell a profitable Kentucky-based business. The owner was ready to retire but was fully committed to helping the buyer make a smooth transition. The 50-year-old business had a positive reputation in the community, a loyal customer base, and a great location. I located a prospective buyer through a referral from a banker, and once I showed this prospect my client’s business, he was soon Read More

There are times when some conversations are very difficult. Such was the case when I sat down with Ryan (not his real name). He summed up our meeting saying this, “I guess it’s time I look in the mirror and tell myself the truth. I’ve done a lot of work in this business but don’t have much to show for it.”  Ryan and I were meeting to review the valuation report I prepared for him. Though his business had revenue of Read More