There are some industry pundits who ask the question, do you need a M&A advisor? That is a very good question and should be addressed. Since my background is in law, I will use that as an analogy.
How many lawyers do you see representing themselves in court, or in a legal proceeding? Not that many. Why not? The old adage “a lawyer who represents himself has a fool for a client” is particularly persuasive here. What this means is when it comes to sensitive issues, like a legal case, medicine, or selling your company, it is much better to have someone on the outside providing you with advice and counsel.
My grandfather once said he never managed his own money because he was just too emotionally involved and couldn’t make the right decisions…and he was an economist!!! The same is true of selling or buying a company. This can be a very emotional time for a company and an individual. Even if you are a good business person when it comes to this type of transaction, having someone who is not emotionally involved can provide you with critical input that you would not normally have.
Selling/buying a company isn’t like buying/selling a home. There are moving parts, there are people involved, there is a lot to consider. Add to that the complexity of managed services and you get into an entirely new ballgame.
In closing, you can absolutely represent yourself in the sale or acquisition of a Managed Services practice. The question is, does it make sense?
