The Minneapolis/St. Paul Business Journal (MSPBJ) has published a “Table of Experts” panel discussion on the topic of mergers and acquisitions, featuring Hellmuth & Johnson attorney Kylie Kaminski.
When asked how she thinks business owners can best prepare for a transaction, and when they should start, Kaminski responded, “From a legal perspective, the best thing a seller can do to prepare is to get the due diligence documents in order. Those businesses that have all of those documents in one place have less stress and can get the process done quicker. Those are good business practices that entrepreneurs should be doing anyway. The sooner business owners can get their documents together, in whatever capacity —whether that’s online or a digital system — I think even when a founder starts to think about getting ready to sell, preparing that is going to be huge. That’s the biggest stressor that I’ve found with sellers is, getting all the requests for the buyer put together, and also running the day-to-day of the business.”
When asked for final thoughts to share with readers, Kaminski responded, “… the importance of getting the right people on your team. M&A is really a team game.”