In this article published on Influencive, Jay Jung offers his top ten tips to companies considering a sale or an M&A.
During his successful, six-year run with Goldman Sachs when he routinely negotiated multi-billion-dollar deals, Jay Jung took note of how Fortune 500 companies loaded with experienced CEOs and CFOs always made it a practice of hiring investment bankers to conduct their M&As and sales.
Conversely, Jung was surprised and bewildered when he would so often see entrepreneurs who were selling their businesses failing to bring on advisors who could offer important advice.
‘For most entrepreneurs, selling their business is not the areas where their expertise and experience lies,” Jung said. “Usually, this is one of the most important decisions for the company’s lifetime, and they need assistance in the sale.’
Jung certainly has the credentials to back up his claims. During his time as a former Goldman Sachs Investment Banking Vice President and McKinsey & Company Engagement Manager, Jung completed more than $50 billion in transactions, including marquee transactions such as the sale of Yahoo, the sale of MuleSoft and the sale of SanDisk.
These days, Jung is offering high high-level financial consultations — advice usually reserved for Fortune 500 companies — to startups and small-to-medium-sized businesses. Following his six-year run with Goldman Sachs, Jung founded Southern California-based Embarc Advisors so that he could help small businesses avoid many of the pitfalls that often determine success or failure.
Key points include:
- Hiring a seasoned advisor
- Purchase agreement terms
- Negotiation strategies
Read the full article, Ten Things To Know When You Sell Your Small Business, on Influencive.com.