7 Things My Team and I Learned About SMB M&A On My Episode With Lana Coronado - Watch E1 Here
As I release this nearly 2 years later, I want to give a special thank you to Lana; even though you have "retired," you have continued to be a stand for me and my success. Thank you for being my first interviewee and starting me down this journey. Enjoy the grandbabies and if you ever need anything, know I'm there. -Ron
Here is what my team and I learned from this interview: (These are notes from team members, writers, sometimes AI, and even listeners who submitted what i learned loosely edited and shared here) - If it seems a bit crude, you're reading our notes, so. yeah.
Concept 1: Maximize business value when exiting.
Exiting a business is a major decision that requires careful planning and consideration. It is important to maximize the value of the business when exiting, in order to ensure that the process is as successful as possible. This can be achieved by following certain steps, such as understanding the market, preparing for a sale, and understanding the legal aspects of the transaction.
The first step to maximize the value of a business when exiting is to understand the market. This means researching the industry and the current market trends. It is important to understand the competitive landscape and the potential buyers that may be interested in the business. Additionally, it is important to understand the value of the business and the factors that may affect the sale price.
The next step to maximize the value of a business when exiting is to prepare for the sale. This includes developing a business plan, understanding the tax implications of the sale, and finding the right buyers. Additionally, it is important to understand the legal aspects of the sale, such as the terms of the sale, the transfer of ownership, and the transfer of assets.
It is important to understand the legal aspects of the transaction. This includes understanding the different types of contracts, the terms of the sale, and the tax implications of the sale. It is important to ensure that all of the legal documents are in order and that the sale is conducted in a legal and ethical manner.
In conclusion, it is important to maximize the value of a business when exiting. This can be achieved by understanding the market, preparing for the sale, and understanding the legal aspects of the transaction. By following these steps, it is possible to ensure that the process of exiting a business is as successful as possible.
Concept 2: Invest in real businesses.
Investing in real businesses is an exciting and potentially lucrative endeavor. It can provide a great opportunity to diversify one’s portfolio, as well as generate a steady stream of income. However, it is important to understand the process of buying and selling businesses and what it takes to make a successful transaction.
Lana also co-authored a book about investing in real businesses. The book covers the steps that can be taken to make a business worth buying, such as understanding the market, preparing for the sale, and understanding the legal aspects of the transaction. The book is written in plain English to make it easier to understand, as many business owners may not have an MBA or a deep understanding of the complex issues involved.
Overall, investing in real businesses can be a rewarding and lucrative endeavor. However, it is important to understand the process and take the necessary steps to ensure a successful transaction. By following the steps outlined in the book, it is possible to maximize the value of a business when exiting.
Concept 3: Network to build relationships.
One key element to successful business acquisitions is to network. Networking is an essential tool for building relationships and creating opportunities. It is important to not just look for connections but also to take the time to learn and educate oneself. By doing this, it is possible to come into a situation prepared and with something to talk about. Having something to talk about opens the door to conversations and introductions.
It is also important to be an interesting person and to make sure that those you meet find you worthy of knowing. This will lead to more conversations and more introductions. This creates a snowball effect where the more you know, the more people you will know, and the more knowledge you will gain.
Networking is a great way to find deals and build relationships. It is important to remember that it cannot be done in a vacuum. It is important to make sure that you are connecting with the right people and that you are taking the time to learn and educate yourself. By doing this, it is possible to create a successful network of relationships and knowledge that will lead to successful business acquisitions.
Concept 4: Network for success.
Lana is a great example of someone who has used networking to her advantage. She has gone from being an IT worker to semi-retired stock investor to mergers and acquisitions in a short period of time. She has done this by taking courses and investing in herself. she has also taken the time to build relationships with the right people and to be of service to them. By doing this, she has been able to create a network of relationships that have allowed her to become the chairman of a publicly traded company.
Lana has also taken the time to learn and educate herself. she has taken courses and read books to make sure that she is up to date on the latest trends and knowledge in the industry. This has allowed her to be able to provide value to others and to create relationships that have been beneficial to her.
In conclusion, networking is an important part of success. It is important to take the time to build relationships with the right people and to learn and educate yourself. By doing this, it is possible to create a successful network of relationships and knowledge that will lead to successful business acquisitions. Lana is a great example of someone who has used networking to her advantage and has been able to become the chairman of a publicly traded company.
Concept 4: Question everything and be happy.
Lana's advice is to "question everything and be happy." This means that it is important to challenge the status quo and think outside the box. It is also important to be content with the decisions made and accept the outcomes. Lana's success is a testament to this advice. she has been able to create a successful network and has achieved her goals.
Lana's children are a great example of this advice. They have all chosen unconventional paths and have been able to find success and happiness in their choices. This is a great example of how it is possible to question everything and be happy.
Concept 5: Altruism in M&A world.
Altruism is an important concept in the world of M&A, and it is often overlooked. It is not uncommon for M&A professionals to be seen as heartless and robotic, but this is far from the truth. Lana's experience with La Bruta Capital is a great example of how M&A professionals can be altruistic and caring.
La Bruta Capital is a venture that focuses on providing resources to help business owners make the right decisions when it comes to M&A. It is a venture that is focused on helping business owners make the right decision, not just for their own interests, but for the benefit of their employees, customers, and the community. This is a great example of how M&A professionals can be altruistic and use their expertise to help others.
Altruism in M&A is also important because it helps to create an environment of trust between business owners and M&A professionals. By showing that they are willing to help business owners make the best decisions for all involved, M&A professionals can build trust and credibility. This trust and credibility can then be used to foster better relationships between business owners and M&A professionals and to help create successful M&A deals.
Altruism in M&A is an important concept that is often overlooked. It is important for M&A professionals to remember that their actions can have far-reaching effects and that they should always strive to help business owners make the best decisions for everyone involved. Lana's experience with La Bruta Capital is a great example of how M&A professionals can be altruistic and use their expertise to help others.
Concept 6: Help others in need.
La Bruta Capital is a company created to help business owners who are facing bankruptcy. They work to restructure debt, keep businesses open, and protect personal assets. Lana was inspired to work with them after hearing how their services can help save the economy, one business at a time.
Lana's empathy for those in need is commendable and should be an example for other M&A professionals. It is important for those in the industry to remember that their actions can have a huge impact on the lives of others. They should strive to be altruistic and use their expertise to help those in need.
The most important thing in the world is not money or success, but time. Lana believes that time should be used to do what drives us, and for her, that is helping others. She is passionate about anything that has the word “care” in it and is working with La Bruta Capital to help a lot of people.
Altruism in M&A is an important concept that should not be overlooked. Lana's experience with La Bruta Capital is a great example of how M&A professionals can use their expertise to help others in need. It is important to remember that our actions can have far-reaching effects and that we should strive to always be altruistic and help those in need.
Concept 7: Take action and achieve success.
When it comes to achieving success, Lana Coronado is a great example of someone who is taking action to achieve success. She is interested in any industry that uses the word "care," such as health care, wellness, pet care, elderly care, child care, and veterans care. She is also very interested in helping veterans and is actively looking for opportunities to do so.
Lana's focus on care and helping others is a great example of how we can take action and achieve success. By focusing on helping others, we can create a ripple effect of positive change that can have a lasting impact. Not only does this type of altruism help those in need, but it can also help us achieve success. When we focus our efforts on helping others, we can create a network of people who are willing to help us in return. This can open up opportunities for us that we may not have otherwise had.
It is important to remember that success is not just about money and material possessions. It is also about helping others and making a positive impact on the world. Lana Coronado is a great example of someone who is taking action to achieve success by helping others. By following her example, we can all take action and achieve success.
