11:21:23 - This week in The Hub - Main Street Weekly
11:21:23 - This week in The Hub - Main Street Weekly
What you need to know about buying, growing or selling small to medium businesses. The news, the pods, the social influencers. Curated from the world of SMB (small to medium business)
We do the research and bring you what’s pertinent when you want to grow, scale, buy or sell your first or your next business.
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In the News, Growth, and AI …
Mergers and Acquisitions Market Begins to Accelerate
After a drop in merger and acquisition activity, analysts believe the market has turned a corner. Driven by uncertain economic conditions earlier this year, M&A has now started a rebound, Tenney Group CEO Spencer Tenney said.
“It was a challenging year for getting deals done, but a lot of deals still got completed,” he said. “What we observed in the market is that all the drivers that are influencing why deals are getting done continue to stay consistent.” Read more here…
How to Transform Your Small Business with a Multi-Cloud Approach
Does your business need help locating, implementing, and managing agile, integrated, and secure cloud services? The cloud is now such an essential component of your business that choosing the right services for your needs is vital.
All cloud services are not the same. Identifying the services your enterprise needs, how they connect your business processes together, and choosing the right cloud services can deliver innovation and efficiencies to your company- all of which are paramount to your business’s continued success. Read more here…
4 ways leaders can guide teams through the acquisition process
Acquisitions can spark public excitement as recognizable brands are bought by recognizable companies, shifting the competitive landscape for their particular industry. But for the workers caught in the middle, acquisitions can be synonymous with anxiety.
Layoffs are often the assumed first step: The acquired company may make some cuts to their workforce, at least to ensure there aren't redundant roles — there usually aren't two HR departments, for example. In one of the more notable acquisitions of 2023, software company Splunk cut 7% of its workforce, or a total of 560 jobs, ahead of being acquired by Cisco. Read more here…
Mergers are increasingly about human capital, not just client books, says professional
An industry professional has emphasised that human capital, rather than client books, is driving merger activity in advice.
Speaking on an upcoming episode of the ifa podcast, Sue Viskovic, the new general manager of consulting at Elixir, powered by Vital Business Partners (BBP), said her recent strategic decision to merge with VBP is in alignment with a growing trend of consolidation in the advice industry.
Anticipating an increase in mergers and acquisitions, Ms Viskovic echoed insights from Steve Prendeville, who recently told ifa he foresees the emergence of ‘super boutiques’ managing substantial funds.
Ms Viskovic explained that the ongoing consolidation of “one-man bands” or single-adviser practices is a persistent trend set to endure. Read more here…
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In the Pods Reviews …
Joanna Oakey: Navigating Emotional Dynamics in M&A Deals | How2Exit - E161
Read the review here. Watch the podcast here.
The Hub Short Take:
Joanna Oakey, an expert in mergers and acquisitions for SMEs, shares her insights on the importance of understanding the emotional side of business transactions. She emphasizes the need for buyers to have emotional intelligence (EQ) and to build rapport with sellers.
Key Takeaways:
Understanding the emotional side of business transactions is crucial for successful deals.
Building rapport and trust with sellers is essential for buyers to create win-win deals.
Building, Buying, and Scaling Businesses — Brandon Pindulic | David Elikwu
Read the review here. Watch the podcast here.
The Hub Short Take:
Brandon Pindulic shares his journey of starting businesses from a young age and the lessons he learned along the way. He then discusses his current venture, Spacebar Ventures, and how he is focused on incubating and acquiring businesses with a goal of scaling above a million dollars in cash flow.
Key Takeaways:
Spacebar Ventures focuses on incubating and acquiring businesses with the goal of scaling above a million dollars in cash flow.
Finding the right operators is crucial for the success of the businesses in Spacebar Ventures’ portfolio.
Growth Through Acquisition | Seize This Growth
Read the review here. Watch the podcast here.
The Hub Short Take:
Jessica Fialkovich discusses the pros and cons of growing a business through acquisition rather than organic growth. She explains that while organic growth allows for full control, it can be costly and time-consuming.
Key Takeaways:
Growing through acquisition offers rapid growth and the acquisition of a proven business, but there is a risk of integration challenges.
It is advisable to wait for six months before making any major changes to the acquired business to allow for observation and understanding of the company’s operations.
Q3 BizBuySell Insight Report Commentary- Buy or Sell a Small Business 2023 — David C Barnett
Read the review here. Watch the podcast here.
The Hub Short Take:
David C. Barnett discusses the Q3 Insight report by BizBuySell.com. He highlights key findings from the report, including trends in sale prices, buyer and seller confidence, the impact of rising interest rates, and the importance of seller financing.
Key Takeaways:
Rising interest rates and stricter debt service coverage ratios are impacting buyer purchasing power.
Seller financing is becoming increasingly important in small business transactions.
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Founding Member Shout-Out
Shout out to our new founding member, with over 30 years in M&A, this company offers a Resource Center helping you buy good businesses. Very underpriced - get it now before they finish upgrading the site and very likely up the pricing.
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In the Knowledge
The information in the following articles is important for any business but particularly for new acquisitions. Add them to your Knowledge Bank.
7 Ways for a small business to boost their cash flow
Good cash flow is fundamental for businesses to survive and grow. In fact, it’s more important than profit as it supports day-to-day trade whilst also providing a strong foundation for business development. When cash flow is positive, more cash enters the business than leaves it, and the reverse is true for negative cash flow. It’s important, therefore, to have as much control as possible so you have ample working capital to reach your goals. Read more here…
Beyond Survival: Requirements For Small-Business Growth
Currently, about 33.2 million small businesses exist in the U.S., which accounts for 99.9% of businesses in the country. This, in turn, means fierce competition as customers have many available vendors to buy their niche products.
To survive in this cut-throat market, small-business leaders must formulate a strategic business plan and implement it in a proper way to achieve long-term success.
In this article, I'll discuss some ways small businesses can maintain positive growth. (Read more here…)
Hey, friends, we could use your help to grow The Hub - Main Street Weekly, and bring it to more people so we can continue to serve you and others. If you like something we shared this week, please share it on X (formerly known as Twitter) or LinkedIn and tag us when you do. Let’s get people talking.
In the BIG Guys Corner … (middle market and above)
Brookfield Reinsurance Completes $1.1 Billion Acquisition of Argo Group
HAMILTON, Bermuda--(BUSINESS WIRE)--Argo Group International Holdings, Ltd. (“Argo”) today announced the completion of Brookfield Reinsurance’s acquisition of Argo in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding common shares of Argo at a price of $30 per share. Argo’s common shares have ceased trading on the New York Stock Exchange.
Argo’s leading U.S. specialty platform adds a foundational piece to Brookfield Reinsurance’s expanding U.S. P&C operations and increases Brookfield Reinsurance’s assets to over $50 billion. Read more here…
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In the Sosh … who to follow this week
Vanessa Van Edwards
Creating Relationships with Sellers - Vanessa is the multi-time bestselling author of “Captivate: The Science of Succeeding with People” and "Cues: Master the Secret Language of Charismatic Communication."
Vanessa shares tangible skills—including her insights on how people work—to improve interpersonal communication and leadership. She has developed a science-based framework for understanding different personalities to improve our EQ and to help us communicate with colleagues, clients, and customers.
Connect on LinkedIn.
Kim Perell
Insights and advice to keep you inspired - Kim Perell is a serial entrepreneur, 2x bestselling author, and angel investor, who has made headlines for her transformative story of a startup entrepreneur to a leading tech CEO and prominent investor. Kim started her first company from her kitchen table, became a multi-millionaire by the time she was 30, and sold her last company for $235 million to Singtel, one of the most prestigious telecommunication companies in the world.
Kim’s latest book, JUMP, Dare to Do What Scares You in Business and Life published by Harper Collins, was an instant Wall Street Journal bestseller. Kim’s first book, The Execution Factor, The One Skill That Drives Success, was also a national bestseller.
Connect on LinkedIn
In the calendar …
SMB Acquisitions Entrepreneurs Bi-Monthly Networking
A twice-monthly networking meeting where acquisitions entrepreneurs come together online to build teams, share ideas and resources, and help each other succeed. The first and Third Tuesday of each month. Check it out...
The Art of Buying and Selling a Business - December 14, 2023 - 9:00 - 10:30 a.m. CST
Join merger and acquisition experts Sam Thompson & John Thwing as they present critical factors you need to know prior to buying or selling a business. (Virtual Event)
How to properly evaluate a company you want to purchase
How to prepare to sell your company
What you can do to pay a reasonable price for another company or get top dollar for your company
John Thwing will provide an overview of business acquisition financing.
This presentation will provide valuable information for business owners, strategic and owner-operator buyers, bankers, attorneys, CPA's, and business coaches. Check it out…
M&A South 2024 - February 5 - 7, 2024 - Alpharetta, GA
M&A SOUTH is the premier networking event in the South for participants in all facets of corporate growth and Middle Market deal-making.
This LIVE event presents the opportunity for intermediaries, corporate development officers, accountants, lawyers, senior lenders, and other deal makers to meet and greet with top private equity and mezzanine capital providers. Check it out…
2024 Spring Conference & Deal Market - MAY 13 - 15, 2024 - Louisville KY
Presented by MASource.org. Check it out.
Stanford Graduate School of Business Executive Education 14 – 19 Jul 2024 - Stanford, CA
Through a dynamic mix of lectures, case studies, class discussions, hands-on learning, and visits from guest speakers, this program provides critical insights and powerful tools for the successful formulation and execution of an M&A strategy — one that creates true value for your organization. Check it out…
Capital Camp - May 21-23, 2024 - Columbia, MO
Capital Camp is an upcoming event scheduled for May 21-23, 2024, in Columbia, Missouri. The event is described as a gathering for "curious, kind, and thoughtful investors, capital providers, entrepreneurs, and executives" who are pushing boundaries and breaking new ground. The event spans three days and three nights, offering serious investing conversations in a relaxed setting—think shorts and sandals rather than suits and ties. Attendees can expect interactive programming, a variety of outdoor activities, and an endless supply of food, drink, and entertainment. The event has received high praise from past attendees, with many describing it as the most valuable and best investing conference they've ever attended. Check it out…
2024 WOMEN IN M&A SUMMIT - OCTOBER 7-8, 2024 - BOSTON, MA
The Kayo Women’s M&A Summit unites 300 women leaders in mergers & acquisitions, private equity deal-making and capital markets. Over the course of two days, attendees can expect to generate deal opportunities through peer-to-peer networking, educational content, and a supportive community atmosphere in the private equity hub of Boston. Check it out…
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