On the surface it looked good. Peaking under the hood changed things. The business seller wanted $7 million. The buyer decided it’s worth $6 million.…
JohnMSeptember 13, 2023
Our Blog
I was already to write this memo on a different subject (see it next week) when I browsed the WSJ and read Andy Kessler’s column.…
JohnMAugust 30, 2023
It was All-Star week in Seattle. The week was filled with baseball events, Home Run Derby, and the game was on Tuesday. As part of…
JohnMAugust 16, 2023
When there’s a discussion or list of small business value drivers, rarely is growth mentioned as a value driver. But growth is an important driver…
JohnMAugust 9, 2023
I can’t name the company because 99% of you reading this will recognize it. I recently went to a Mariners game with the company’s CEO…
JohnMAugust 2, 2023
Growth by acquisition can be a powerful strategy. Heck, I wrote a book on it. But let’s look at when it works and when it…
JohnMJuly 28, 2023
A past client was the president of a major public company. I remember him saying, “Growth hides a lot of operational warts.” This is why…
JohnMJuly 24, 2023
One of my rules for business buyers and sellers is: The bigger the spreadsheet the less chance of a deal. This means, don’t get analysis-paralysis.…
JohnMJuly 6, 2023
A great chorus from the play The Book of Mormon is, "You're making things up again, Arnold" followed by, "You're stretching the truth again And…
JohnMJune 29, 2023
The May 6, 2023 Wall Street Journal had a large feature article on Warren Buffett and his track record of investments. What was really interesting…
JohnMJune 22, 2023
On the top of the value driver list is having solid financial systems and therefore accurate financial statements. Too often we must use the term,…
JohnMJune 15, 2023
I recently wrote the following to the CFO of a client company as part of their evaluation of a strategic acquisition: It’s a different approach…
JohnMJune 8, 2023
With one of the companies we’re representing we received a handful of offers. One stood out from the pack because it was clear and to…
JohnMJune 1, 2023
Note: This memo was not created with ChatGPT. I recently wrote, “exit planning really does mean planning (in advance).” It’s one of the items on…
JohnMMay 24, 2023
We attended a Mariner’s game on opening weekend and as in prior years there were street preachers outside the stadium. Using portable speakers and holding…
JohnMMay 17, 2023
There should always be concern about customer concentration. Some say be concerned if one customer is 10% of sales and others say up to 25%…
JohnMMay 10, 2023
The NCAA basketball tournaments are winding down and on the men’s side, heading into the semi-finals, there are no number one, two, or three seeds…
JohnMMay 3, 2023
I’ve been researching what others (including ChatGPT) think are the top value drivers for a small business and have come up with a list of…
JohnMApril 26, 2023
While in Antigua on our Rotary project some of us got to talking about how a couple key team members are always running late and…
JohnMApril 23, 2023
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