『Main Street Deals』のカバーアート

Main Street Deals

Main Street Deals

著者： SMB Law Group LLP
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Main Street Deals is a practical podcast for entrepreneurs buying, selling, and operating small businesses. Hosted by experienced M&A attorneys, the show breaks down what actually matters in real-world acquisitions—from LOIs and diligence to closing and the first 90 days of ownership. Each episode combines deal education, war stories, and conversations with buyers, operators, and industry experts to give listeners a clear-eyed view of how small business deals really work. The focus isn’t theory or hype—it’s judgment, structure, and lessons learned inside hundreds of transactions. マネジメント・リーダーシップ リーダーシップ 個人ファイナンス 経済学
エピソード
  • SMB Law Group - Building for the Acquisition Entrepreneur

    SMB Law Group - Building for the Acquisition Entrepreneur
    2026/07/07
    Sam Rosati and David Brackett explore the business of building SMB Law Group, a firm designed specifically for acquisition entrepreneurs. Brackett, the firm's COO, joined roughly six months after launch when the three founding attorneys needed help scaling beyond a glorified solo practice. Today, the firm employs 28 people and has earned recognition from Financial Times and law.com for innovation in the legal market. They discuss: - How the firm's labor model and service offerings have evolved to serve deals ranging from sub-$1.5 million Main Street acquisitions to larger independent sponsor transactions - The intentional fee structures that place the firm at risk alongside clients, avoiding the $250,000 bills common at traditional firms - Why operating as a fully remote, distributed team requires stronger systems, more deliberate management, and hiring for attributes like hunger, curiosity, and diligence - The difference between a lifestyle firm and a flexible firm that still demands excellent work and client service This episode offers rare transparency into how a professional services firm navigates growth, manages remote teams, and builds around a specific client profile without traditional office infrastructure or debt obligations. ______________________________________________________ SMB Law Group combines decades of experience with a modern approach to help small and medium business buyers, sellers, and searchers reach their legal and deal goals. Learn more: https://smblaw.group/ Connect: Eric Pacifici — https://www.linkedin.com/in/eric-b-pacifici/ Kevin Henderson — https://www.linkedin.com/in/khendersonco/ Sam Rosati — https://www.linkedin.com/in/sam-rosati-68787a8/
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    35 分
  • How to Reduce Risk in Closing Your Deal | The LOI

    How to Reduce Risk in Closing Your Deal | The LOI
    2026/06/30
    Sam Rosati and Kevin Henderson explore the legal work stream in small business acquisitions and how buyers can reduce deal risk from letter of intent through closing. The conversation addresses why so many deals fall apart after LOI despite strong financials, focusing on the specific legal provisions and negotiation tactics that either protect or jeopardize a transaction. Henderson emphasizes that friction, not just time, kills deals, and that clarity on contentious terms early in the process significantly improves closing rates. They discuss: - Why working capital, indemnification caps, and seller note terms must be addressed in the LOI, not deferred to later negotiation - How information asymmetry and broker incentives can push buyers to leave critical terms vague, creating costly problems post-LOI - The binding power of exclusivity provisions and why most reimbursement clauses are difficult to enforce in practice - Tactical approaches to document negotiation, including the value of issues lists and direct seller-buyer conversations outside of legal markups This episode on Main Street Deals offers practical guidance for searchers and small business buyers navigating the legal complexities of acquisitions without unnecessary costs or deal-breaking surprises. SMB Law Group combines decades of experience with a modern approach to help small and medium business buyers, sellers, and searchers reach their legal and deal goals. Learn more: https://smblaw.group/ Connect: Eric Pacifici — https://www.linkedin.com/in/eric-b-pacifici/ Kevin Henderson — https://www.linkedin.com/in/khendersonco/ Sam Rosati — https://www.linkedin.com/in/sam-rosati-68787a8/
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    47 分
  • What Really Happens Before Closing | Main Street Deals Podcast

    What Really Happens Before Closing | Main Street Deals Podcast
    2026/06/23
    Sam Rosati and Eric Pacifici examine the critical period between signing a letter of intent and closing a small business acquisition on Main Street Deals. Drawing from their firm's 387 closed transactions, they reveal that roughly 68% of deals under LOI actually reach closing — a reality that contradicts the false confidence many first-time buyers feel after signing. They discuss: - Why quality of earnings is the single biggest deal killer, responsible for 40% of failed transactions - How debt service coverage ratio requirements can derail lending even when banks like the business and the buyer - The working capital trap that surfaces post-LOI when buyers realize the business needs significantly more liquidity than expected - Statistical likelihood of closing at each milestone: LOI, bank term sheet, quality of earnings completion, and signed purchase agreement - The psychological shift that causes buyers to become over-invested emotionally while sellers retain more leverage than expected This episode provides essential risk awareness for anyone navigating their first Main Street acquisition, explaining why the signed LOI marks the beginning of the race rather than the finish line. (00:00:00) - Intro (00:03:15) - The LOI is just the beginning (00:03:58) - Psychology and leverage after signing (00:06:57) - Statistical thresholds from LOI to close (00:09:29) - Quality of earnings as deal killer (00:11:10) - Signed purchase agreement odds (00:13:33) - War stories and warning signs (00:14:17) - Business dependency red flags (00:17:15) - Retrades versus renegotiations (00:22:03) - Bank underwriting hurdles (00:22:53) - DSCR and lending thresholds (00:34:20) - Working capital as a deal killer (00:35:29) - Why working capital kills deals (00:41:06) - Closing thoughts SMB Law Group - https://smblaw.group/ Eric on LinkedIn - https://www.linkedin.com/in/eric-b-pacifici/ Kevin on LinkedIn - https://www.linkedin.com/in/khendersonco/ Sam on LinkedIn - https://www.linkedin.com/in/sam-rosati-68787a8/
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    42 分
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