Tag Archives: Buying a Business
Investing Errors Come From Psychology, Not Information — Howard Marks (1 of 2)
When two giants of investing, Charlie Munger and Howard Marks, emphasize a similar theme, it pays to take note. It is interesting to me that they, and many other investors, eventually move well beyond the quantitative analysis of business to the “second level” of psychology,… Continue reading →
Podcast Interview about Competitive Advantage, Berkshire Hathaway, & Recurring Revenue
I recently enjoyed being interviewed for a podcast with Jock Purtle of Digital Exits where we discuss what Warren Buffett and Charlie Munger would invest in today — if they were young. Hint: competitive advantages, recurring revenue. What would Buffett and Munger invest in if… Continue reading →
Investment in Allied Health Education Company
I am excited to announce that my investment fund, Greybull Stewardship, has acquired an education company that helps health professionals maintain their licenses and certifications. The company, Summit Professional Education (www.summit-education.com), offers seminars each year for over 75,000 physical therapists, occupational therapists, speech therapists, K-12… Continue reading →
Warren Buffett’s Strategy, Selling Your Business, and Other Topics in Podcast Interview
I was interviewed recently by a very good business broker, Jim Cumbee of the Tennessee Valley Group. I have gotten to know Jim this year as we worked on a transaction and we had a fun discussion about several topics including: Lessons learned about selling… Continue reading →
9 Lessons Learned About Selling A Business
When selling your business, it pays to learn lessons from others. Most business owners will not get a second chance to do it well, and it is such an important process for your employees, your customers, and your own bank account that you want to… Continue reading →
Quality of Earnings in Due Diligence: What You Need to Know
As many sellers do not sell businesses frequently, I like to write about various parts of the transaction process that may be helpful for sellers to understand. One of the most important steps is when a buyer performs a “Quality of Earnings” review of… Continue reading →
Business Brokerage: Greybull Stewardship Makes Growth Investment in Murphy
My investment fund, Greybull Stewardship, has made a growth investment in Murphy Business Brokerage, the #1 business brokerage company in North America. The press release about this investment can be found here at the Greybull Stewardship blog. I am very enthusiastic about this investment for… Continue reading →
Nine Secrets for Avoiding Failed Business Acquisitions
Failed businesses always have both myth and logic around the reasons for their failure. This is even more true for a failed business acquisition because there are the elements of the transaction added onto the elements of the business itself. The reality is always complicated,… Continue reading →
6 Pitfalls Between Letter of Intent and Closing the Deal
When selling your business, it is so much work to find the right buyer and to get to a letter of intent. That may feel like the hard part. It is not. It is just as hard to manage everything that comes next and get… Continue reading →
Business Buyers According to Warren Buffett: Competitors, Flippers, or Berkshire Hathaway!
Whether to sell a business or accept outside equity capital is a high stakes decision for business owners. Trade-offs are natural and necessary — we instinctively know that we cannot achieve every objective in every decision. It is pretty easy to categorize the business buyers… Continue reading →
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