There are times when something comes back that you thought was long gone. And in coming back you find yourself surprised. You think, "I thought that was dead. I didn't know I still had that in me?" And you find yourself deep into doing something that used to define who you were but had been put to the side for a different reality.
So it is that de-I 'DEAL GUY' seems to have been resurrected.
Who is 'DEAL GUY'?
Back in the day, in a much earlier iteration of my career. I was a 'DEAL GUY'. I was the person who would put together multi-million dollar purchases and sales of businesses. It was a heady activity. And truthfully, humbling and frustrating as well. You were dealing with a 'lot of money'. Things never went as planned. You could work for year and have a transaction crater earning nothing for all your work.
But there was no denying the adrenaline that flowed as you navigated the ups and downs of trying to make a transaction happen. The really interesting thing of putting deals together as an intermediary is you had no real control. All the decisions were made by the principals, the buyers and the sellers. But your job was to 'Make It Happen'. And you did your best. You used every bit of knowledge and tricks you'd learned to pull the transaction together. You did this (hopefully) for the good of your client, but also because your own financial well being depended on it. But there was also a lot of ego, and excitement (and disappointment) associated with dealing with large transactions that had large fees (fees paid to you!).
Why I bring this up is I find myself back in this mode, filling this persona once again. The short story is I have been helping a client try to exit their business for over two years now. Originally, I was to help them pass the business to their son. But their son had some kind of mental breakdown and simply walked out on the company, the deal, and his parents. Harsh.
So we had to build a plan B. This was hard for the couple selling. We also had poor financial information so I had to get an fractional CFO in to get things straightened out. That took a year! The husband of the couple wanted to sell it to a couple of insiders/employees. We made them a proposal based on the numbers we had at the time. They took forever to get their act together and start following through. In the meantime, we finally got the financial information we needed and 'Surprise' the company is doing way better than we thought. So the price we offered to insiders is a real bargain.
However, the insiders have refused to put down a non-refundable deposit. So we told them no exclusivity. I immediately start looking for other buyers because the real value is about a third more than what is being offered to the insiders (and we are talking millions of USD here). And as luck would have it, we are introduced to an extremely qualified buyer and are aggressively pursuing discussions with him.
Oh. And as an added fillip. I make no fee if we sell to the insiders but I make a BIG fee if we sell to the outsiders! You don't think I'm back in DEAL GUY mode? It is like Shane, the classic Western with de-I in the title role.