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Archive for February, 2017

Patience cartoon

Patience as a Virtue in Deal Making

“Patience is a virtue” is easier said than done, especially when parties are embroiled in the tense negotiations that often accompany business deals, and especially when self-imposed deadlines are nipping at their heels. But deals rarely benefit when a deadline takes precedence over the deal itself. In fact, far more often than not, pausing to reflect enables good things to happen and prevents unforeseen negative consequences from occurring.

Certainly, the need for speed and sustained forward progress makes sense in any business deal, but I have yet to encounter a deal that has suffered from taking the time to re-evaluate based on new information or insight.

Patience cartoon

Often, the original thesis (the reason the deal makes sense for both parties) is verified and the deal moves forward, perhaps with some adjustment to a post-closing operational matter or an allocation of risk. In some cases, the new information changes the

Five Issues That Arise In All Transactions

As 2017 gets rolling, I am just getting started on a few new buy/sell transactions, giving me the opportunity to reflect on some issues that commonly arise as buyers and sellers negotiate terms of their agreements. These issues probably will not surprise you, but if you are buying or selling a business — especially an auto dealership — the insight I provide here will prepare you for some of the human factors and resulting hurdles you may likely encounter.