Tom Hannon – Featured On Built To Sell

Tom Hannon – Featured On Built To Sell

Advisors, Buyer, Deal Book, Deal Structure, Due Diligence, Factors Affecting Business Saleability, Preparing to Sell Your Business, Sale Process, Tax Implications of Selling a Business, Transition, Valuation, Why Sell
From the Built to Sell Podcast Description of the Show - Tom Hannon started FPD to create and distribute niche publications. He grew the company to $3M in revenue over 18 months, when a family illness prompted him to reach out to acquirers. His company was valued at $2.1M and received four offers, but he ended up walking away with $1.5M. Hannon candidly shares why he left money on the table, and what he would do differently if he had a re-do. In this episode, you’ll learn: • One trick the acquirer played on Hannon that dramatically devalued his business • How Hannon used a third-party valuation to keep the price as firm as possible • When not to overplay your hand in a negotiation with an acquirer One reason…
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What Does a Due Diligence Look Like

What Does a Due Diligence Look Like

Due Diligence
The value almost never increases during due diligence and it is typically the inadequate preparation for due diligence by the seller that causes this. The typical seller, and even the most broker, dreads the due diligence phase.  You are not going to successfully sell the business without enduring due diligence, so you might as well embrace it.  You've received an offer and a successful closing is just around the corner if you have adequately prepared and handle due diligence appropriately. Historically, many transactions fall apart during due diligence because negative surprises arise. Trust Issues from Inadequate Disclosures before Due Diligence, the key to surviving the process is to eliminate foreseeable setbacks by disclosing any negative issues early, before due diligence ever begins.  Disclosure allows you to present not only the problems faced…
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