This is a great post-mortem. What I've learned throughout the acquisition process with SMB sellers is that you've got to keep everything SO simple when it comes to structure and docs. Also, regardless of the buyer's pedigree, sellers by and large put no faith in your ability to follow through on anything post-close. Cash in hand at close is the only meaningful number. I've had to learn this lesson the hard way too.
This is a great post-mortem. What I've learned throughout the acquisition process with SMB sellers is that you've got to keep everything SO simple when it comes to structure and docs. Also, regardless of the buyer's pedigree, sellers by and large put no faith in your ability to follow through on anything post-close. Cash in hand at close is the only meaningful number. I've had to learn this lesson the hard way too.
great post!
A timely reminder given where I am in the deal process.
As always, another great post. Very easy to see how reality can hit a seller at a last second and push them over the edge.
Would love to connect via a phone call if possible. Also may be able to pass on a contact or two as I used to live/work in Seattle.