Legal Blog

Biz Tek Today: Purchasing a Business

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The market is ripe to purchase a business; whether you want buy into a new market or add a bolt on. I know because my clients are buying businesses of all shapes and sizes. The article below detailing questions to ask when considering a business purchase is a good one, especially the first question on why is the person selling. The answer can be very telling. Make sure though to do your homework before venturing out to find a business. Understand how your current skills and services match up with the target. Further, determine how your customers and market also match with the target. If there are not matches in both areas, your work is cut out for you. The acquisition can still work but for most folks when acquiring a business the idea is to make 1 + 1 = 3. And of course don’t forget about matching corporate cultures. This is one of biggest areas of deal failure.


Entrepreneurship

What Entrepreneurs Can Learn from Successful Tech Startups
Tech.co
In this golden age of entrepreneurship, startups are sprouting like mushrooms all over the world. Unfortunately, only a handful of them are built to last. Statistics show that the failure rate of startups hovers around 50.4 percent – with reasons varying from emotional pricing to premature expansion….READ MORE

3 Easy-to-use Templates And Strategies For Effective Networking
Forbes
We constantly hear networking is important, but women can face negative consequences for perceived self-promotion. Plus, it can feel downright uncomfortable to make requests of your professional contacts, asking them to introduce you to others. Here are the strategies and templates I use to make e-introductions less painful and more effective for everyone involved…READ MORE

5 Leadership Lessons From Exceptionally Successful CEOs
The Motley Fool
You don’t have to run a huge enterprise to benefit from the experience and wisdom of the heads of these outstanding companies. Here are five leadership lessons from these exceptionally successful CEOs that are applicable to leaders of organizations of all sizes…READ MORE

How to be a better networker for people who hate networking
Washington Post
Most species hang out only with family members. Everybody else is a potential enemy. Good ol’ Homo sapiens have been successful because we’ve extended the definition of family by using mutually agreed upon stories — “fictive kinship” as Israeli researcher Yuval Noah Harari points out…READ MORE

How To Solve The No. 1 Small Business Problem
Forbes
“Every company’s biggest problem is communication,” says Scott McGohan, CEO at McGohan Brabender, one of the largest independent health insurance brokers in Cincinnati, Columbus, and Dayton, Ohio. “It really doesn’t matter how many times you do it,”…READ MORE

Why Female Millennipreneurs Succeed In Business
Forbes
I started Mailbird in 2012 at age 26. I began the business with two co-founders, our two first employees and hustled to make our company a success. As my business grew and I met other entrepreneurs, I started to notice a pattern. According to Britt Hysen, editor-in-chief of Millennial Magazine, 60% of millennials considers themselves entrepreneurs and 90 percent recognise entrepreneurship as a mentality…READ MORE

 

Transactions

Ask an Investor: How do I sell my company?
BetaKit
We’ve talked in past posts about acquisitions and how to get optionality once you have an offer on the table. But, what do you do if you are ready to sell your company but you don’t have any existing offers at the table? You may have heard the saying “companies are bought not sold.” This saying can be interpreted to mean that the only way to sell your company is to wait patiently for acquirers to come to the table. But that’s not necessarily the case…READ MORE

Nine First Questions To Ask When You’re Buying A Business
Forbes
So, you’re planning to buy a business and think, “Hey, I’ve made big purchases before – a sofa, a car, a house – this can’t be that different, right?” Wrong! Paraphrasing Mark Twain, the difference between making a large consumer purchase and buying a business is like the difference between lightning and a lightning bug…READ MORE

10 Mergers & Acquisitions Investors Would Love to See
Investorplace.com
Washington might be in disarray, but that hasn’t stopped U.S. business executives from pursuing mergers and acquisitions. 10 Mergers & Acquisitions Investors Would Love to See EY Americas surveyed more than 2,300 executives in March and April about their willingness to do M&A deals, and surprisingly, 80% said they’re serious about buying other companies to grow their businesses…READ MORE

 

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Biz Tek Today (BTT), is an online resource for entrepreneurs. BTT recognizes that you are a busy leader in business and that finding time to identify and read relevant news for your business is challenging. BTT seeks to lessen this burden by regularly gathering the best of the best news articles from a host of national media and industry sources and delivering them to you in one convenient email.

 

Michael N. Mercurio, Chair Business Law and Transactions
mmercurio@offitkurman.com | 301.575.0332
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©2017 Michael N. Mercurio, Offit Kurman, Attorneys At Law. All rights