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8 Steps to Secure a Successful Biz in 2022

Secure a Successful Biz in 2022
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When one company purchases another company and its assets. We’ll talk about mergers in another article, but for now, let’s focus on business acquisition and the process behind it. Remember that it can take anywhere from six months to one year to finalize an acquisition properly.

Process to Secure a Successful Business in 2022:

  • Establish a motive

  • Create search criteria

  • Research (databases)

  • Outreach

  • Introduction meetings

  • Making an offer

  • Due diligence

  • Closing

Establish a Motive: There are many reasons for the acquisition, including to diversify, transfer resources, cross-sell to existing customers, or scale or scope the buying company. Understanding why you want to begin the acquisition process will help you decide on the best type of business to make a deal with.

Create Search Criteria: Create some questions to ask yourself: Which markets should the business(es) to be acquired be in? Are you looking for any specific synergies? And most importantly: What’s my budget?

Research: Use the questions from earlier to guide you. With the help of certain databases, you’ll be able to find businesses that are currently for sale. Once you narrow the possibilities down to a manageable number (we like 3), you can start talking to the owners or their representatives directly.

Outreach: Generally, you’ll end up talking to the bankers first. They’ll probably ask you to sign an NDA before providing you with detailed information about the business and its financial situation. Be transparent about your motives. According to Forbes, this is also a great time to do a full inventory audit.

Introduction meetings: After you’ve established interest in the business, it’s time to meet the business owner, especially if your first interactions up to this point have been with their representative/broker. This is the point where you find out more about the business: their company culture, employee satisfaction, etc.

Making an Offer: If you’re happy with the business and would like to buy it, now it’s time to make an offer. Make sure to get advice from a financial expert such as someone from Adam Kae & Associates before doing this: oftentimes if a business owner feels like they’re being “low balled”, they’ll retreat rather than continue negotiating. Remember to keep your offers within a reasonable range.

Due Diligence: If you and the business owner come to a preliminary agreement regarding the offer, use this chance to get to know the business even more. Since you’re still not in a binding contract, this is the last opportunity you’ll get to check if everything’s in tip-top order, and nothing’s being hidden. We highly recommend conversations with financial advisors during this period to make sure it’s the absolute best financial decision you can make at this time.

Closing: Hire a lawyer and get the necessary documents and opinions. These are usually:

  • Sales agreement

  • consideration such as stock or cash

  • legal opinions

  • regulatory approvals

  • evidence of third-party consents

  • ancillary agreements

  • terms of funds transfer

  • binding offer

Remember that this is a huge financial decision. While it can lead your company to financial success, it’s important to hire experts, get second opinions, and do your research beforehand.

If you said “I'd like to buy a business in 2022” it is time to book a consultation with CFOAdam!

Regardless of your current size, Adam Kae & Associates can guide you every step of the way. The best way to avoid costly financial mistakes is to prevent them from happening in the first place, and that’s what a CFO is for!


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Disclaimer: This article contains information and opinions from Adam Kae & Associates, and the information and opinions should not necessarily be seen as the best possible solutions for your business. Please contact us at to help you find the best solutions for your business.


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