026 - What to do when you're approached by a buyer (part 2), with Mike Counihan (Transcend Partners)
04/12/21 • 60 min
No one reads podcast episode descriptions, so let's rehash the one from part 1 and add a bit of Lorem Ipsum text to see if anyone notices.
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
Company sales: the miracle all entrepreneurs and business owners aspire to, mostly because we're bombarded every day with company exits news, and articles about serial entrepreneurs selling their 14th startup before they turn 40.
However, the reality is very different. Selling a company is an overly-complicated process that drags along for many months, taking your focus away from your company, and in a lot of cases, the business owners don't see a nickel as a result. That is, if the process ever makes it to the agreement stage, so in a lot of cases, we're seeing what is called "survivorship bias".
But one thing is still true: as business owners, we're all likely to receive offers for our companies. In fact, in 2017, we received an invitation to initiate talks about a potential acquisition, and if you want to learn the rest of the story, you should listen to this podcast.
This time around, we talk to Michael Counihan about what happens when you're approached by a buyer. We wanted to cover the whole cycle, but the episode came out so long that we had to split it in two.
In this first part, we'll be talking about the initial exchanges of intentions, what protocols to follow, how to behave in the meetings, what things to do and what NOT to do, how to bring more offers to the table, when's the right time to engage with an M&A boutique and more.
Michael is the Managing Director of Transcend Partners (www.TranscendPartners.com), a technology focused international M&A boutique. Michael has executed company sales, mergers and acquisitions across a wide variety of technologies. He regularly speaks with acquirers and investors all across Europe, North America, Latam, Middle East, Asia and Australia.
But most of all, Michael is a very great guy. Trust us. You'll like Michael.
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
🎬 You can watch the video on our YouTube channel: https://youtu.be/ozPyy_qgE9Y
🎬 You can watch the video of this episode on the Life on Mars podcast website: https://podcast.marsbased.com/
No one reads podcast episode descriptions, so let's rehash the one from part 1 and add a bit of Lorem Ipsum text to see if anyone notices.
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
Company sales: the miracle all entrepreneurs and business owners aspire to, mostly because we're bombarded every day with company exits news, and articles about serial entrepreneurs selling their 14th startup before they turn 40.
However, the reality is very different. Selling a company is an overly-complicated process that drags along for many months, taking your focus away from your company, and in a lot of cases, the business owners don't see a nickel as a result. That is, if the process ever makes it to the agreement stage, so in a lot of cases, we're seeing what is called "survivorship bias".
But one thing is still true: as business owners, we're all likely to receive offers for our companies. In fact, in 2017, we received an invitation to initiate talks about a potential acquisition, and if you want to learn the rest of the story, you should listen to this podcast.
This time around, we talk to Michael Counihan about what happens when you're approached by a buyer. We wanted to cover the whole cycle, but the episode came out so long that we had to split it in two.
In this first part, we'll be talking about the initial exchanges of intentions, what protocols to follow, how to behave in the meetings, what things to do and what NOT to do, how to bring more offers to the table, when's the right time to engage with an M&A boutique and more.
Michael is the Managing Director of Transcend Partners (www.TranscendPartners.com), a technology focused international M&A boutique. Michael has executed company sales, mergers and acquisitions across a wide variety of technologies. He regularly speaks with acquirers and investors all across Europe, North America, Latam, Middle East, Asia and Australia.
But most of all, Michael is a very great guy. Trust us. You'll like Michael.
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
🎬 You can watch the video on our YouTube channel: https://youtu.be/ozPyy_qgE9Y
🎬 You can watch the video of this episode on the Life on Mars podcast website: https://podcast.marsbased.com/
Previous Episode
025 - What to do when you're approached by a buyer (part 1), with Mike Counihan (Transcend Partners)
Company sales: the miracle all entrepreneurs and business owners aspire to, mostly because we're bombarded every day with company exits news, and articles about serial entrepreneurs selling their 14th startup before they turn 40.
However, the reality is very different. Selling a company is an overly-complicated process that drags along for many months, taking your focus away from your company, and in a lot of cases, the business owners don't see a nickel as a result. That is, if the process ever makes it to the agreement stage, so in a lot of cases, we're seeing what is called "survivorship bias".
But one thing is still true: as business owners, we're all likely to receive offers for our companies. In fact, in 2017, we received an invitation to initiate talks about a potential acquisition, and if you want to learn the rest of the story, you should listen to this podcast.
This time around, we talk to Michael Counihan about what happens when you're approached by a buyer. We wanted to cover the whole cycle, but the episode came out so long that we had to split it in two.
In this first part, we'll be talking about the initial exchanges of intentions, what protocols to follow, how to behave in the meetings, what things to do and what NOT to do, how to bring more offers to the table, when's the right time to engage with an M&A boutique and more.
Michael is the Managing Director of Transcend Partners (www.TranscendPartners.com), a technology focused international M&A boutique. Michael has executed company sales, mergers and acquisitions across a wide variety of technologies. He regularly speaks with acquirers and investors all across Europe, North America, Latam, Middle East, Asia and Australia.
But most of all, Michael is a very great guy. Trust us. You'll like Michael.
🎬 You can watch the video on our YouTube channel: https://youtu.be/re1encsuwR4
🎬 You can watch the video of this episode on the Life on Mars podcast website: https://podcast.marsbased.com/
Next Episode
027 - Why is adtech broken? - with Nandini Jammi (Check My Ads)
Companies are spending a fucktonne of money in marketing, and more specifically in ads, mostly on the main platforms like Google and/or Facebook. However, these platforms act like a black box. You have little to no control over where do your ads end up appearing.
Nandini Jammi, a marketer at heart, started tracking the origin of the ads served to her and by scratching the surface, she ended up uncovering that a lot of ads were being served in hate speech sites, far-right platforms and all sorts of dodgy sites.
Nandini co-founded Sleeping Giants, an organisation devoted to brand responsibility through online activism. She's now running Check My Ads, an agency that ensures that your ads are not being served and thus funding the wrong sites.
Actually, one of her findings in the industry was working with Uber, as their Head of Performance Marketing put it: "I ended up uncovering $90 million in advertising fraud because of your actions when I was running performance marketing at Uber." - Mind-boggling innit.
We spoke with her and our friend Josh Feldberg about why adtech, as an industry, is broken, why technology has been the cause and can potentially be also the solution to this problem, what's the role of agencies in this, how to allocate marketing budgets and what tools are guilty of what amidst a very intense session of nerding out about advertisement and ethics in marketing and brand advertisement.
If you want to learn more, you can also subscribe to Nandini's newsletter BRANDED on Substack.
🎬 You can watch the video of this episode on the Life on Mars podcast website: https://podcast.marsbased.com/
🎬 You can watch the video of this episode on the Life on Mars podcast website: https://podcast.marsbased.com/
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