by: Mark Gordon Managing Editor
Venice commercial kitchen entrepreneur C.J. Fishman was a rather unmotivated seller when he met engineering executive Bob Daly, who was as motivated to buy the business as Fishman was not to sell it.
Yet the pair — through a shared vision of how to run a company, particularly a find-a-way to yes ethos — soon came to a best of both worlds deal: Fishman sold the company, Fishman & Associates, and agreed to stay on to handle sales and consulting while Daly got to have his own company, a lifelong pursuit.
The courtship and marriage highlights important lessons for any entrepreneur, most notably to always have a clear and unbiased financial value of your company, no matter where you on the exit strategy path. And on the buy side, a key lesson is to be relentless when you see what you want.
One more lesson? Dump egos. Fishman, for example, willingly traded his CEO office for a desk on the floor with other employees. Daly moved into the CEO office soon after the acquisition — financial terms weren’t disclosed — closed in September. “In any negotiation, if you leave egos at the door, you can overcome any challenges,” Fishman says. “It’s when egos get in the way is when you have a problem.”
Read the full article here: https://www.businessobserverfl.com/article/in-business-sale-owner-finds-perfect-match