Michael O'Donnell - Consultant, Intermediary - USA
Michael's career spans 30-years as a venture capital-backed entrepreneur, author, and advisor. His expertise is starting, funding, buying and selling businesses - specifically, technology companies. He founded Ask-Me Multimedia, iCopyright, StartupBiz, and Leaves, Inc., among other companies. He was on the launch teams of CompuServe Sprynet, one of the first national Internet Service Providers (went public as part of CompuServe in 1996), and Design Intelligence (acquired by Microsoft). Michael has raised more than $50M in venture capital and has orchestrated numerous company spin-outs, acquisitions and successful exits. He is an active angel investor and advisor, with investments in numerous early-stage companies. He has run an international high tech accelerator, a federally-funded entrepreneurial training program, and a venture capital fund. As the founder/CEO of StartupBiz, Michael has assisted more than 25,000 startups with strategy, financing and exits. As the Managing Director of SellBiz, Michael has assisted hundreds of small business owners to prepare for exit and achieve a successful sale. Michael is the author of several best-selling books and a popular blogger and speaker on starting, buying and selling a business.
We Help You Sell Your Business By Owner (Under $2M)
Pocket the broker commission and sell your own business. Let's face it, you have to do the work whether you sell yourself or retain a broker, so why pay a hefty commission? Buyers don't acquire businesses from brokers, they acquire them from the owners. For small business owners selling for less than $2M, we offer the "Sell Your Own Business" Guide and Advice every step of the way, for a flat fee. We provide the most comprehensive guide ever written on how to sell a business by owner. It has all the steps, best practices and forms you will need. The Guide and advice is augmented by a menu of a' la carte professional services for things you may need help with along the way, like writing the Teaser and Prospectus, and coming up with a list of 50 potential buyers. Get the advantages of a broker without paying a broker commission.
We Advise You And Interested Buyers, And We Actively Broker The Sale Of Your Business (More Than $2M)
For businesses selling for more than $2M, we offer M&A advisory and intermediary services on a commission basis, with a 1% retainer. Why? The data proves that sellers who achieve a successful sale for more than $2M, do so at a higher price than those who sell their businesses themselves. Simply put, we can can easily cover our commission by getting you at least 10% more than what you would have gotten by selling without us.
We Value Your Business
It’s a simple fact that businesses that are priced right sell more quickly and put more money into the seller’s pocket. The biggest mistake that sellers make is to price the business too high, despite our best counsel. It can actually depreciate more in the process! We’ll help you get the best possible price — that’s how we get paid. Our interests are aligned on that score. Unlike most brokerages, we come from technology companies. We have successfully sold companies that have ZERO revenue. We know how to value, package and sell intellectual property. We don’t just look at the balance sheet and income statement. You have a lot of blood, sweat, and tears invested in your business. It’s your baby, we understand, we’ve birthed our own and then became empty-nesters. We’ll do our best to value it right and justify the price to interested buyers.
We Advise On How To Get The Highest Price Possible
To maximize your valuation and ensure a smooth selling process, we counsel you on how to Improve Revenue, Earnings and Valuation. This is a proven exit planning and preparation system that can fetch you a much higher price than you might get otherwise. At a minimum, iREV can dramatically increase the odds of a successful transaction and shorten the time it will take to sell your business. In the process of improving your business and getting it ready to sell, we identify the most likely buyers and their hot buttons.
We Package Your Business To Sell Quickly
The two most important tools for packaging your business are the Teaser and the Selling Memorandum. The teaser is anonymous and does not identify the name or location of the business. It communicates the central value proposition and why prospective buyers should be interested. After a qualified buyer signs a confidentiality agreement, they receive the Selling Memorandum (aka prospectus). This document communicates all of the essential elements for making an offer. We are experts at writing both of these documents.
We Market And Sell Your Business
There is an art and a science to marketing and selling a business. We don’t just throw it up on the BLS and M&A Exchanges, then hope for the best. We have relationships with corporate buyers looking for acquisitions, and with private-equity groups. We know well-healed entrepreneurs who cashed out of their last companies and are now searching to buy one. And of course, like many brokers, we have access to a database of prospective buyers. We can assure you of one thing: to sell your business we won’t use a shot gun. We will use a high precision rifle to target the most likely and qualified buyers.
Reaching and enticing qualified and motivated buyers for any particular opportunity requires an outbound effort. We are experts at doing this. We have an amazing Rolodex, access to proprietary databases of buy-side professionals, and memberships in organizations that business buyers also belong to. This is one of the important things that distinguishes main street business brokers from M&A pros. Main street brokers rely almost solely on inbound inquiries, after posting the listing on the BLS like BizBuySell. M&A pros rely predominantly on identifying, profiling and then reaching out to the most appropriate buyers for the business.
We Help you Pass The Buyer's Inspection And Due Diligence Process
Once we get an offer you are happy with, the buyer will want to conduct inspections and due diligence. This is where the rubber meets the road - where the wheels can fall off. Navigating this process depends on knowing the personalities, motivations and idiosyncrasies of the buyer - and his or her counsel. It’s a bit of a dance to be honest. We do our best to facilitate an efficient and smooth due diligence process. Having been sellers and buyers ourselves at one time, we know how both sides think and where the traps might be. Our job is to get you to the closing table without losing your sanity, so you can enjoy the fruits of your labor.
We Provide Value-Added M&A Services
M&A transactions in the lower-middle-market can involve a complex array of issues. Any one issue has the potential to torpedo the deal, even AFTER the purchase agreement has been executed by the parties. Some transactions involve seller financing (notes), earn outs and/or stock swaps. If employees of the seller are going to be employed by the buyer post-acquisition, there are a host of integration issues. Our services don’t stop when the deal is signed. We stay involved to ensure the seller receives the full value and the buyer is able to fully leverage and capitalize on the assets and people acquired. Some deals are also structured as mergers or joint-ventures that require additional capital and partnerships. We can assist with appropriate introductions to venture capital and private equity groups interested in funding the merger or acquisition, so that the combined companies can grow faster and better together.
We Use A Proprietary, Proven Process
We use a proven and proprietary process to expedite all of our assignments. Visit our website to download our high-level overview, or call for a free consultation at 206-930-9121.