TRANSITION TALK

If At First You Don't Succeed...

Posted by FP Transitions on Nov 9, 2018 9:53:20 AM

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In 1953, a start-up business called the Rocket Chemical Company and its staff of three set out to create a line of rust-prevention solvents and degreasers. Toiling in a small lab in San Diego, California, they set about to create a “water displacing” formula for use in the aerospace industry. It took 40 attempts to get the formula figured out.

But figure it out they did, and WD-40 was born. The name stands for water displacement formula perfected on the 40th try. Imagine what would have happened if the inventors had given up after two dozen or so really solid attempts?

The story, and the point, of course, is bigger than trying hard and eventually succeeding. WD-40 was initially a product limited to special uses, an example of which was protecting the outer skin of the Atlas missile from rust and corrosion. But that was just for starters. The product actually worked quite well for a variety of other uses–so well that several employees snuck some WD-40 cans out the plant to use at home on more mundane tasks like squeaky hinges and rusty nuts and bolts. The product eventually became a household staple. By innovating and adapting to the market, this small group of entrepreneurs created something great.

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Topics: Acquisition, Sustainability, Buying & Selling, "Buying, Selling, and Valuing Financial Practices"

Your Transition Team & Nonadvocacy Support (Excerpt)

Posted by FP Transitions on Mar 9, 2017 8:09:21 AM

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The following sections are excerpted from the book Buying, Selling, and Valuing Financial Practices by FP Transitions president and founder David Grau Sr., JD.

Let's highlight the importance of having a strong transition team in your corner as either a buyer or a seller. In fact, it's important to have a comprehensive team when jumping into most business evolutions, including (but not limited to) entity creation, compensation restructuring, and internal succession planning.

Assembling and Managing Your Team

Advisors who want to buy or sell a business will need some help to do the job right. A typical team for this purpose will include:

- A qualified valuation analyst

- A tax professional

- A lawyer

- Someone familiar with your regulatory structure and your IBD/custodian’s rules & procedures

- A qualified intermediary

To be clear, this list applies to both buyers and sellers. Both parties typically need their own team, with some slight overlap.

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Topics: Buying & Selling, Acquisition, Selling Your Practice, "Buying, Selling, and Valuing Financial Practices", Published

NEW BOOK - Now Available

Posted by FP Transitions on Aug 31, 2016 10:42:55 AM

Our new book Buying, Selling, & Valuing Financial Practices - The FP Transitions M&A Guide is now available. Order your copy here, and watch the video below to find out why our President & Founder, David Grau Sr., JD decided to [literally] write the book on Mergers & Acquisitions for the financial services industry.

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Topics: M&A, Acquisition, Buying & Selling, Business Value, "Buying, Selling, and Valuing Financial Practices", Published

What's Next...[VIDEO]

Posted by FP Transitions on Nov 24, 2015 1:00:00 PM

We've got some exciting news for 2016: a new book!

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Topics: Announcements, "Buying, Selling, and Valuing Financial Practices", Published, Buying & Selling

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