From Software to Concrete Cutting (and $1.4m of SDE)
About this episode
Tom McCormick shares his journey from IBM executive to acquisition entrepreneur, discussing creative financing and building relationships in the business acquisition space.
When the owner refused a seller note in the $6m transaction to sell his business, Tom McCormick had to get creative. Register for the webinar: Understanding a Quality of Earnings Analysis: What's Included and Why - TODAY!! - https://bit.ly/43sZcKn Topics in Tom’s interview: From IBM executive to acquisition entrepreneur Building banker relationships to source better deals Closing on his first LOI Consulting agreement replaced traditional seller note “I wish I would've started this path 15 years ago.” Winning seller’s trust through shared values Using ROBS to buy a larger company A costly lesson about accounts receivable valuation Prioritizing keeping the blue collar workforce happy “I am so much happier now.” References and how to contact Tom: LinkedIn Quality Cutting & Coring The ecosystem for serious acquisition entrepreneurs—education, capital, community, and post-close support to buy and grow a business: The Acquisition Lab Get a complimentary IT audit for acquisition diligence or post-close transition. Visit inzotechnologies.com/eta . Download the New CEO’s Guide to Human Resources from Aspen HR: From this page or contact jenny@aspenhr.com Connect with Acquiring Minds…
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