I wrote recently about how to become an M&A advisor /
business broker. From the feedback, I
know that there are a few out there thinking of that, and one of the questions
had to do with what happens on a day-to-day basis. Quite a bit. One of the best things about this job is the
extreme variety in activities, and it requires a high degree of
It very well could be that no one but my kids wonders what I
do all day long, but to some the following may be interesting. This is what I did yesterday:
After my morning run I checked email and found three more
inquiries to our newest listing, a high end sign company that is producing $1
million in earnings. $1 million in
earnings really gets the attention of private equity groups (PEGs) and they seem to be responding to this listing. I sent them
non-disclosure agreements and had a quick volley of emails with my associate
Graeme Plant about how to handle one of the PEGs.
I’m representing a client that has a cold sore remedy
device, and the same technology in being tested for dementia and
Alzheimer’s. The inventor was on The
Early Show on CBS showing his new invention, so I turned on TIVO and fast forwarded to that segment. Interesting, and it may help us sell the cold
Business Owner Interview
I had a call scheduled with an owner of web ecommerce site,
so I reviewed the financials, did a mini-analysis and prepared some
questions. This owner had wanted to do
this for some time, but Christmas was incredibly busy for his company so this is the
first time he had time to collect his financials and send them in.
Sell – and Fail
I then had a call with a large public pharmaceutical company
about the cold sore device. I had sent
them a one-page “teaser” two days prior and they called back. Unfortunately, they make generic drugs only,
and have no idea how to market and promote a brand. This would not be a fit for them.
Host Initial Buyer/Seller Meeting
I also represent an environmental consulting firm and we had
a lunch meeting with a potential buyer – another environmental consulting
away, especially with snow on the ground, so I scrambled to get out of the
house. It was a good meeting, the
potential buyer had themselves been bought out by a larger company two years
ago so there was a lot to talk about.
I could have headed to the office after lunch, but it was a
little out of the way, so I chose to head to a coffee shop and use the free
wifi to get some work done. More sign
company emails. We use a secure web site
to handle all document exchanges, and I provided access to financials, photos
and our Confidential Business Review for one of the PEGs.