Who are your competitors?
There are less than a handful of true merger and acquisition firms on the West Coast. By that, I am referring to companies whose sole focus is merger & acquisitions. There are many firms whose expertise is consulting, e.g., general operations and/or sales and marketing. For them, the sale of the business comes at the end of an assignment, and although they do not have the expertise required, they imply that they do.
Our number one competitor is you, the seller. In general, you started the firm, worked 12-hour days calling on prospective customers, and made or oversaw the production of a product or service for those customers. In other words, you are the top salesperson. You know the company, its products or services, and its customers. What you do not know, you figure you will learn. Unfortunately, what you do not know will also cost you in price and terms at the time you are trying to maximize both in the sale of your company.
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