1. Acquisitions That Work Acquisitions That Work Preferred Business Brokers Rand Hollon

2. What Works?

3. Over 750,000 times a year

4. Buyers Sellers Preferred Business Brokers CPAs Lawyers Large Amounts of Money       The Players (maybe yours)

5. The Pieces No Compete Agreements Financing Asset Sale vs. Stock Sale Contract Provisions Letters of Intent Buyer’s Due Diligence Purchase Price Allocation Role of Attorneys and Accountants Transition and Integration Roles Etc., Etc., Etc.

6. The most important valuation formula you’ll ever need: The most important valuation formula you’ll ever need: CQ + PQ > IQ The World Is Flat, Thomas L. Freidman

7. The Successful Acquisition “All acquisitions are local.” Deals from Hell, Robert F. Bruner

8. The Seller The Seller A change in competition A partnership break-up or stockholder change Retirement Unexpected changes in finance (divorce/medical) Ready to explore other business opportunities Business has grown beyond seller’s ability to manage Desire for a big payoff Relocation Owner’s heirs don’t want company or are not competent to run it Owner wants to simplify his life

9. The Seller’s Goals Get Top-Dollar Have a Good Chemistry with the Buyer Peace of mind Wants to leave his employees in good hands Wants to leave his customers in good hands Buyer success

10. The Seller’s Strategy Keep your foot on the gas – a well run business is a valuable commodity in any market Maintain confidentiality

11. The Strategic Buyer

12. The Strategic Buyer’s Goals Increase Market Value Strengthen Strategic Position Add Organizational Strength Improve Reputation

13. A Successful Acquisition Increase Market Value Your business. Your Investment. Strengthen Strategic Position Increase Market Share Improve Profitability Add a Service Offering Add a New Market Area Add Organizational Strength Add Depth of Employee Talent Improve Reputation With Employees, Customer Base or Industry at Large

14. The Buyer’s Strategy Maintain confidentiality Have a transition and integration plan for the target business “Execution is the chariot of genius.” - William Blake

15. “At the end of the day, it’s always an art, not a science” - Dan Scheiman, Senior VP, Cisco Systems CQ + PQ > IQ