Articles

Confessions of a Former Buyer: Have a Trusted Accountant & Attorney Relationship

Most small business owners have done every job in the company. This includes handling the books and dealing with contentious issues. They often times feel like the expert in all matters and don’t like to pay for professional support.

This approach can especially apply to using accountants and attorneys. The best advice is to find competent professionals whom you like to work with. They should be responsive and able to explain things in a clear manner. Remember that these folks work for you—confusing and obtuse answers don’t cut it. To increase your success rate, ask trusted friends for referrals and interview these professionals on your terms.

As a former buyer I have seen what happens when these two areas are neglected, or worse called upon at the last moment. One seller hired an attorney a week before closing. This was after a 6-month process of negotiating all aspects of the deal including a generous employment package for the owners. The attorney, doing his job, decided to renegotiate the employment agreement. However, I tactfully threatened to walk away from the deal and the seller advised his attorney of what we had previously agreed.

I was able to close on the deal, but there was some relationship repair work that needed to be handled. All of this could have been easily avoided with a prior, trusted relationship in place.


Current Business Listings

View All

Completed Transactions

View All

We were very pleased to have such a knowledgeable and experienced company in our corner with the team at Cetane. It was obvious that they knew the best process and how to get the ball over the goal line. Their advice throughout the process was greatly appreciated and we thoroughly enjoyed working with them.

— Steve Lombardi, Brodeur’s Oil, Moosup, CT