Session #9: The Masterclass is Back! A Recap
Discover more from The Business Buying Masterclass
Session #9: The Masterclass is Back! A Recap
After a short Summer break, the Masterclass is back on track.
Introduction
After a short break for the Summer, the Business Buying Masterclass is back.
And, we couldn’t be more excited to continue this journey with you!
In today’s session, we’ll recap the topics we’ve covered in the class thus far and give an outline of what’s to come!
Spoiler alert: We have poured time into building out the rest of the masterclass and we’re super excited for what’s to come. We’re going to cover everything—due diligence, business valuation, debt financing, attracting investors, negotiating deal documents, holding company considerations, tax matters, war stories and so much more!
Thanks for coming back for this 9th Session of this Business Buying Masterclass!
Let’s get going.
Did you know that Kevin and Eric have launched a new podcast called Mundane Millionaires?
Each week, we publish and audio and video podcast of interviews with incredible entrepreneurs just like you who building time and financial wealth as entrepreneurs.
Last week, we sat down with Raleigh Williams, a former big law lawyer turned entrepreneur, who had a whopping $26 million exit.
Listen to or watch the latest episode today and please leave us a five star review on your favorite podcasting platforms!
Recap
Over the first 8 sessions of the masterclass, we took a deep dive with you into the entire pre-LOI process, or the period from when you first start of your search for a business, up through signing a letter of intent with a potential seller.
Starting with Session 2, we delved into the world of business buying.
From signing the initial NDA, drafting the letter of intent, navigating due diligence, securing financing, to finalizing agreements, we unveiled the full life-cycle of a transaction.
In Session 3, we took a deep dive into the search process to find a business, including the key areas of:
Establishing your criteria.
Exploring listing sites.
Networking with seasoned business brokers.
Uncovering off-market deals.
Sessions 4 and 5 explored brokered searches and the nuances of proprietary, “off-market” deals.
Both editions spotlighted esteemed guests, featuring both renowned brokers and accomplished off-market deal makers.
Subsequently, in Session 6, we shifted our focus back to legal intricacies with a discussion on structuring your transaction.
This session centered on understanding the distinctions between an asset deal and a stock deal — a crucial foundation for any transaction.
Finally, in Sessions 7 and 8, we embarked on an in-depth exploration of the very first document you’ll encounter in your transaction: the formidable “Letter of Intent.”
Indeed, a great start to the business buying process.
What’s to Come!
With the LOI process behind us, we press on with the intent to cover the entire transaction cycle - everything from due diligence all the way to negotiating a definitive purchase agreement, closing your transaction, and everything in between.
M&A is obviously an enormous discipline that includes buying and selling transactions conducted by both public and private entities. Because this audience is comprised mostly of folks interested in buy-side, lower-lower-middle-market or “premium Main Street” (SMB) transactions, that will be our principal focus.
A rough agenda of what’s to come is the following:
Due Diligence
Financing the Deal - SBA Debt
Financing the Deal - Equity Investors
Purchase Agreement - Purchase Price Mechanics (including Seller Financing)
Purchase Agreement - Representations & Warranties, Covenants and Indemnity
Ancillary Transaction Agreements & Other Documents
Tax Considerations
How to Find Good Transactional Specialists
Rescuing Your Deal from Disaster
Closing Your Deal
Final Thoughts / Additional Resources
We’re super excited for what’s to come over the coming weeks and months as we navigate you through the transaction process.
Of course, while we have tried to be comprehensive in what we have planned, it’s impossible to cover everything! If there are any subjects you’d like to see added, please let us know.
We’re doing this for YOU, so we’re happy to accommodate requests.
Why are we doing this?
We love the community of acquisition entrepreneurs and SMB searchers. We believe you are some of the most driven, giving, ambitious, and frankly cool people that exist.
We love what you’re trying to do and we know it’s HARD, so we hope this helps you in some way.
Disclaimers
Now for a few required disclaimers. Sorry in advance!
This course is being presented strictly for educational and informational purposes, and not for the purpose of marketing any legal services or seeking legal employment and is not motivated by pecuniary gain.
The opinions stated in this course from the authors represent the opinions of such individual author and not the opinions of any other person or organization.
Nothing contained in this course or otherwise from the authors hereof is to be interpreted as legal, financial, tax, investment and/or any other form of advice. Please consult your own legal, financial, tax, investment and/or other advisors.
The authors are not your lawyer, and no information provided in the course of this class or otherwise has the affect of forming an attorney-client relationship between you and the authors. In short, get your own lawyer!
This course is being presented by The SMB Center LLC and has no affiliation or relationship SMB Law Group LLP.
About the Authors
Eric & Kevin, the authors of this masterclass, have worked for some of the most elite law firms in the world.
During their time in BigLaw, they regularly worked on transactions in the hundreds of millions to billion dollar plus range for some of the most recognizable companies in the world and have extensive experience with M&A.
The authors have since begun investing in select SMB acquisitions and have co-founded an SMB-focused law firm where they’ve collectively worked on hundreds of millions of dollars in SMB-focused M&A .