Today is an incredibly big day! Grayson may be closing on a huge deal tonight. It’s been a long time coming but it’s finally happening! He quit his last job about 3+ years ago and since then he’s been looking to buy a business and has gone through about 5000 different companies, sorted through many different websites, and talked to lots of different owners — but it was all worth it, because he’s finally found one that he loves and is super excited about. He’s completed all of the purchase agreement documents and soon… all will be finalized!

So today’s episode is going to provide as a recap for what Grayson has been up to for the last couple of years. Hopefully it will serve as both inspiration — but also as a cautionary tale for those of you who want to get out there and buy your own deal! Today we’re going to be sharing the good, the bad, and the ugly. So tune in to learn some of the ins and outs of buying your first deal!

Key Takeaways:

[:11] All about today’s episode!

[3:18] So what is Grayson buying?!

[6:33] How Grayson and his partner found this deal.

[7:58] What does the transition look like after purchasing this deal?

[10:34] What Grayson learned from being an investor!

[15:30] The importance of balancing investing and operations.

[19:03] What’s next for the podcast? Topics we’ll be focusing on in future episodes.

[20:58] Opening it up to you! What would you like to hear from us next? Email us!

Mentioned in this Episode:

Performio.co

Brad@EvergreenCap.com

Grayson@StablesPartners.com 

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et’s say you find yourself in the fortunate position to have a wonderful asset that you’ve operated for a number of years — whether it’s real estate or an operating business — and you’re ready to sell it. And now, you’re faced with the decision of how to actually sell it. Do you hire a banker or a broker? And if so, how do you go about finding a good one? 

Today we’re answering both of these questions and filling you in on all of the juicy details of hiring a broker! 

Key Takeaways:

[:11] About today’s episode.

[:48] Should you hire a banker or a broker? And what is the difference between the two?

[6:02] Why don’t people hire a banker or a broker?

[8:49] How much does a decent banker or broker cost?

[11:51] How to find and identify a good broker!

Mentioned in this Episode:

Broker

Lehman formula

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After 2 ½ years of looking for a software business to buy with my partner, I think we’re finally getting towards the end! And at the end of the due diligence process when you’re going to buy a company… you’ve got to sign a purchase agreement. This purchase agreement is the big contract; it’s the document that lays out all the final terms and conditions. And when it’s signed, the money is wired — and it’s official: you own the company.

So because this is all so timely for us, today we’re going to be talking all about purchase agreements! In fact, we’ll be going through the actual 57-page document I received for this software business to explain each section to give you all an idea of what to expect when it comes to negotiating your first purchase and sale agreement!

Key Takeaways:

[:11] About today’s episode on purchase agreements!

[2:22] We begin looking at the 57-page purchase agreement word doc, starting with an overview of the table of contents and section 1, the glossary.

[5:09] Reviewing section 2: the purchase and sale of parent shares.

[9:40] Reviewing the following three sections that cover representations and warranties — first up, those concerning the company.

[16:30] Next up, we take a look at the sections covering representations and warranties of the sellers.

[17:55] Taking a look at the representations and warranties concerning the buyer.

[18:58] Reviewing the section that covers the additional agreements.

[19:52] Checking out section 7: identification and related matters.

[23:03] Wrapping up the podcast with some final points about purchase and sale agreements!

[24:54] What should you be focusing on when negotiating these documents?

[28:14] Thanks for tuning in!

Mentioned in this Episode:

Purchase and Sale Agreement

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