Reggie thought I was crazy, at first. He knew I was walking away from a very large fee. I told Reggie I didn’t want to represent him, even though the market value of his company was about $35 million. Well, to be more exact, I told him he shouldn’t sell his company right now, at least not for the $35 million market value. It seems oxymoronic to tell a business owner their business is worth more than market value. In Read More
Why I Might Turn Down a Perfectly Good Engagement
“What do you mean you don’t want to sell my business? I thought that’s what you did for a living?” Reggie (not his real name) would have been the ideal client. His business was growing and extremely profitable, EBITDA of $3.57 million in 2017 and forecasted to be $4.25 million this year. Reggie called me a couple months ago after returning from an industry conference in Orlando where he met several private equity Read More
When to Ignore the Market Value for Your Company
“I call you for help selling my business, but you tell me I shouldn’t sell it now. What kind of business broker does that?” Ricardo (not his real name) retained me to help him evaluate an unsolicited offer he had received from one of his top suppliers. During our first call, he said, “I am not looking to sell the company, we’re growing, I love what we’re doing for our customers, and the team I have around me is Read More
