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Business BuyingExiting & Selling

It’s a Team Game

By June 12, 2024No Comments

We got an email from a client a couple days before his deal closed, actually everybody involved in his deal got it, advisors and principals on both sides. He started it out with, “Team –“ and then gave an update.

He recognized it’s a team effort. All deals are, business buy-sell, real estate, customer acquisition, etc. Here’s what we got distilled from the message.

  • A deal should not be adversarial or confrontational. All must be onboard and going the same direction.
  • Everybody has the same goal, so act like it.
  • It starts, as it always does, with building a relationship.
  • All must work together, especially when someone throws a wrench into the deal machinery.

What kind of “wrenches” screw things up? The following are true, all in the last month or so.

  1. The bank demanding the deal structure be changed the day before closing and 90 days after they saw the agreement (had to do it, the bank had the money, and the attorneys made a lot more money).
  2. An associate attorney wanting to change clauses after the bank had approved the signed agreement (no changes made, just angst).

A team is needed, and the teams must work together.

“Only those who will risk going too far can possibly find out how far one can go.” T.S. Eliot

“Accept who you are. Unless you’re a serial killer”. Ellen DeGeneres