In our experience, business owners who have identified the one party—or handful of likely parties—on the other side of the table often understand they need assistance beyond what their other advisors will provide, but wonder what an M&A advisor will do to add value. This is a case of “raising the bridge and lowering the water.” We’re able to attune our offering to the one-off transaction because it is our primary focus, not one we default into. And, we can charge less than traditional investment banks because we are not required to utilize and pay for the platform required to execute on full-out auctions.
I’ve written once or twice before about my father, a noted Philadelphia deal guy and original character. Back in the 1980s, he started doing a newsletter meant to be different from the serious, glossy tomes that brokerages and money managers dropped on their customers. His was chocked with business wisdom, personal anecdotes and frequent references to fishing as life experience and metaphor.
There was no internet. The newsletter was laid out by hand and photocopied. Junior colleagues and interns were recruited to stuff and stamp envelopes with this idiosyncratic cargo.
I had no idea what he was doing.
Whether to regard artificial intelligence as a godsend, a threat or both is a growing issue for the private business owners we advise at Greenberg Variations Capital. It’s also a concern for GF Data, the deal tracking venture Graeme Frazier and I have run since 2006.
Business palaver about AI reminds me of the old line about the weather— “everyone talks about it, but nobody does anything about it.”
I decided to do at least a little by pulling together some insights from four recent conversations.
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