Many of us rely on lists and step-by-step instructions to get us through some of the simplest tasks in life, like grocery shopping. And yet, when it comes to something as complex as the sale or acquisition of a business, many entrepreneurs and executives are willing to “wander the aisles” aimlessly trying to figure a transaction out instead of doing the basic planning that they use to make a trip to the supermarket successful. If your business plan calls for a merger or acquisition, here’s a suggested checklist to keep your transaction on track.
Neal Stephens is a transaction advisory senior manager for HORNE Capital Strategies. He works with business owners, strategic corporate buyers and private equity investors to advise and manage the sale and purchase process for transacting parties.
Josh Edwards is the firmwide director of HORNE Capital Strategies and a member of HORNE’s Board of Directors. He brings extensive experience in areas such as strategic growth, mergers and acquisitions and due diligence.
If you ask a dozen executives if their goals for their companies include long-term growth, you would probably get a unanimous “Yes” from the group. If you then asked them to define what long-term growth looks like at their companies, you might get a dozen different answers. In order to prepare a business for long-term growth, the first step is to understand what exactly needs to grow.
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