Tags: Deal Maker

Why communication is key when buying a company

Strong and consistent communication between key players of the Buyer and Seller is ideal to create an environment conducive to a business sale. Both buyer and seller have resources tied up to make the deal happen. So when miscommunication or lack of communication jeopardizes a deal, it can hurt both sides. Let me break down why communication is key when buying a company. 

When negotiating the purchase of a company, keep communication on point by designating one person or team to coordinate and communicate. Otherwise you end up with Thanksgiving at my house: too many cooks in the kitchen, pandemonium, and an overcooked bird. Instead designate point people to keep the line of communication consistent. There are countless recipes to cook a turkey and you can get countless responses when you are cooking with too many people. 

Identify and empower the folks who can orchestrate the sale. Their job will be to keep egos in check, coordinate financing requirements, apply for third party/governmental approval, and take steps to integrate the transition. Keeping communication open will give you something to be thankful for at the end of the sale.

For more articles and topics like this, continue to follow the Deal Maker on Your Side blog or click below to contact the Goosmann Law Firm with any questions or concerns.

CONTACT US

Subscribe Our Blog

DISCLAIMER: The information in this blog post (“post”) is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. By visiting this website, blog, or post you understand that there is no attorney client relationship between you and the Goosmann Law Firm attorneys and website publisher. No information contained in this post should be construed as legal advice from Goosmann Law Firm, PLC, or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this Post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.