"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"

Also Sponsored by www.SmallBizAcquisitions.com/exit - Expert 1:1 mentorship program to help you buy your first U.S. Based Small Business. From training, then funding, and post acquisition support.

About The Guest(s):

Trish Higgins is a partner at Chenmark Holdings, a family-run business that specializes in acquiring and managing small to medium-sized businesses. With a background in finance, Trish and her team have successfully acquired and grown multiple companies across various industries.

Summary:

Trish Higgins, partner at Chinmark Holdings, shares her journey in the world of mergers and acquisitions (M&A) and holding companies. She discusses the importance of building a diverse portfolio of businesses with steady cash flows to provide long-term stability and resilience. Trish emphasizes the challenges of finding the right operators for acquired businesses, highlighting the need for values alignment, trust, and analytical capabilities. She also delves into the psychology of emotional sellers and the importance of approaching negotiations with empathy and understanding. Additionally, Trish emphasizes the significance of creating a positive company culture and the role of talent pipelines and training programs in ensuring a smooth transition and cultivating potential leaders for acquired businesses.

Key Takeaways:

• Building a diverse portfolio of businesses with steady cash flows can provide long-term stability and resilience.
• Finding the right operators for acquired businesses requires time, patience, and a focus on shared values and analytical capabilities.
• Emotional sellers may have difficulty letting go of their businesses, so it's important to approach negotiations with empathy and understanding.
• Having a talent pipeline and training program can help ensure a smooth transition and provide a pool of potential leaders for acquired businesses.

Quotes:

• "The more uncorrelated the cash flows of your portfolio, the more durable and valuable it becomes." - Trish Higgins
• "When hiring operators, values alignment and trust are key, followed by analytical capabilities." - Trish Higgins
• "Understanding the psychology of sellers and being patient can lead to better outcomes in deal negotiations." - Trish Higgins

Watch it on Youtube: https://youtu.be/xlkZtivkERE
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Contact Trish on
Linkedin: https://www.linkedin.com/in/trish-higgins-330a948/
Website: https://chenmark.com/
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Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match.

"Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton

The IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.

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Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.

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🎬SUGGESTED VIDEOS
Don't forget to watch 📽 Our other videos. Please check them out :

▶️E94: Hans Sperling Discusses Mergers And Acquisitions Transactions And Provisions - https://youtu.be/VdFEZq13SpE

▶️E90: Christine McDannell of Magnolia Firm Helps Business Owners Achieve Seamless Exits - https://youtu.be/wyl358GKQ4Y

▶️E127: Kirk Michie Discusses His Role As A Business Advisor And The Secrets To Selling A Business - https://youtu.be/ahHQk5_CVuo
#How2Exit # # 💖Thanks for watching! 💖