Unfortunately, it is not unusual for professional advisors like accountants, attorneys or tax advisors to be deal killers. Their training and core competency is to protect and advise their clients about minimizing financial, legal, and or tax risks. Many do not want to give risky advice, such as encouraging you to accept an offer, and possibly lose a customer or generate ill will if something goes wrong with the deal. The safe answer is always no. The “right” answer may be yes or it may be no.
Selling or buying a business does come with significant risk. It is therefore not unusual for a professional advisor attorney, accountant or tax advisor to offer conservative advice. If both the buyer and seller receive overly conservative advice there is a real risk the “deal gap” between the two sides will become a Grand Canyon. Don’t let what may be the opportunity of a life time to buy a business or sell a business be destroyed by well-intended, but short-sighted advice that doesn’t meet your primary objective.
Bottom line: Let’s be clear a great accountant and/or attorney can be an indispensible part of your deal team, but make sure they are pragmatic and have significant business sales experience this is no time for amateurs. It is important that your advisors are brought into the discussions at an early stage and have a complete grasp of the situation. Make sure you have advisors who will give you balanced advice on how to achieve your primary goal, not just how to avoid every conceivable risk. No risk, no reward.
Edward Valaitis, CBI – A Certified Business Intermediary is your assurance of the highest level of training, technical skills and ethics in the business intermediary profession. Mr. Valaitis has more than 25 years of experience building, managing, and leading commercial lending, accounting and consulting firms. Raised in an entrepreneurial family he takes his responsibility seriously to help business owners realize their dreams and exit on their terms. Main Street and M&A services provided in Florida. (800) 975-2114 www.edisonavenue.com
Edward Valaitis Managing Director of Edison Avenue has earned his Certified Business Intermediary (CBI), Certified Merger & Acquisition Professional (CMAP), Certified Value Builder (CVB). He has more than 25 years of experience building, managing, and selling companies with expertise in business transactions, business valuations and growing businesses. Business Broker serving the United States based in Tampa and Destin, Florida.