Session #2: Introduction to Business Buying
An Overview of M&A and the Players (the "Forest")
So, you’re ready to buy a business? Ready to “take the plunge” into SMB ownership. When you close your eyes, you can already see those juicy cash flows hitting your account. You can taste the freedom from the corporate grind. You’ve read the HBS guide and “Buy then Build” … 2.5x to 5x SDE/EBITDA … to put it mildly, you’re pumped!
But not so fast, unless you’ve been through the business buying process before, or have dealt closely with M&A in a professional capacity, you’re probably wondering to yourself, “How does this business buying thing actually work?”
In today’s lesson, we’ll (1) provide a detailed overview of a typical M&A transaction and (2) introduce the major players in the M&A process.
Our goal in this session is to show you the metaphorical “forest” before we begin examining the “trees” in later sessions.
Welcome to the second session of this free M&A masterclass. Thanks for joining us!