Businesses really have only two choices: they can grow (through formation or purchases) or go away (mostly by sale). Those are the two things I spoke about during a recent Lunch and Learn presented for the West Des Moines Chamber of Commerce. If you would like to access the PowerPoint I used, click this link:Chamber Luncheon Final
Here are the high points of what we discussed:
- Identifying an Opportunity;
- How to Avoid Pitfalls;
- What the Buying/Selling Process Looks Like;
- Pricing the Transaction;
- Structuring the Transaction.
Following the formal presentation I took questions from the attendees. The one item that stands out was a question about the size of transactions I normally worked on. I responded that in my 30+ years I have worked on transactions ranging from start-ups all the way through the sale of a $45,000,000 company, but the most important transaction is whatever my client(s) need to accomplish.
However, the best question came as I was packing up to leave. An attendee came to me and asked, “Why is it that you simply gave us all of this information free of charge?” My answer was really pretty simple: “My job is to help businesses and individuals achieve their goals. For me, that includes providing people with an opportunity to expand their business knowledge. Simply giving some valuable information away for free? No, I’m doing what I love.”
The Kreamer Law Firm specializes in business law as well as estate law. We Get Things Done!