This Week on Think Like an Owner

Today’s episode is the fifth in our Launch Series, in partnership with Trilogy Search Partners and Pacific Lake Partners. This discussion focuses on the deal structuring and legal diligence process in a search acquisition, and I’m joined by Scott Alderman, partner at Trilogy, and Alex Temel, partner at law firm Sidney Austin, for the conversation.

During the episode we cover the key steps in the legal process, timeline, how to mitigate risk, working with sellers, staging, reps and warranties, and much more. We broke the conversation into the key stages of a deal and special considerations to make along the way and ended with advice for entrepreneurs when working with legal counsel.

Finally, if you haven’t already, be sure to listen to our four previous episodes on industry research, starting a search, the diligence process, and working with sellers.

CEO Reading List

In preparation for the Stanford Search Fund Conference, I’ve been rereading The Manager’s Handbook by David Dodson.

The book is a super tactical look at key skills and habits of effective managers. One habit I’ve been personally implementing from the book is writing out a to-do list in the morning with tasks organized by importance and impact on long-term goals. I write which tasks are important and need to be prioritized early in the day, and which tasks can be done with less critical thinking required. Now my day feels more productive and professionally fulfilling.

I highly recommend getting your own copy, I’m positive you’ll walk away with pages upon pages of great notes.

Today I have a special offer from my friends at Pursuant Capital.

They've had over a dozen of their SMBootcamp LIVE attendees close on their own SMB, with another dozen currently under LOI. They're offering a 10% discount to attend one of their remaining 2023 SMBootcamps down in Tampa, FL to all TLAO subscribers.

Make sure you apply using this link to take advantage of their offer. You can check out their website for more information on the remaining SMBootcamps.

Think Like an Owner is sponsored by:

Ravix Group - Ravix Group is a fraction CFO, outsourced accounting, and HR consulting firm serving small and large businesses alike. Whether you or someone you know is getting started, searching to buy a business, or building out an organization, Ravix will help on the journey. To learn more about Ravix Group, head to their website and tell them Think Like An Owner sent you.

Hood & Strong, LLP – Hood & Strong is a CPA firm with a long history of working with search funds and private equity firms on diligence, assurance, tax services, and more. To learn more about how Hood & Strong can help your search, acquisition, and beyond, please email one of their partners Jerry Zhou at [email protected].

Oberle Risk Strategies – Oberle is the leading specialty insurance brokerage catering to search funds and the broader ETA community, providing complimentary due diligence assessments of the target company’s commercial insurance and Employee benefits programs. If you are under LOI, please reach out to learn more about how Oberle can help with insurance due diligence at oberle-risk.com. Or reach out to the CEO, August Felker, directly at [email protected].

Interested in sponsoring? Reply to this email and let’s chat.