Monday May 13, 2024

Steve Lawrence - Resigned from a job to close an acquisition that failed

Acquisitions can be an opportunity to change your career.

But what if you quit your job and the deal falls through?

You’re left with no job and no deal.

This is exactly what happened to my guest in this episode, Steve Lawrence. The seller decided not to go ahead at the last-minute leaving Steve in the lurch.

Steve shares the ups and downs of his acquisition experience from his first failed acquisition to then finding the company he went on to buy through a Google search. He talks about the struggles and the positives after the acquisition went through, as well as his huge learning curve of why heads of terms are so important.

“The deal just completely fell out” – Steve Lawrence

Timestamps

01:49 - Steve's failed acquisition

03:39 - An introduction to Steve

07:32 - Did Steve get any reimbursements?

08:30 - Steve's successful acquisition

13:48 - The importance of heads of terms

17:41 - Post acquisition struggles

24:14 - Advice on small term loans

27:03 - Post acquisition positives

Connect with Steve

LinkedIn - https://www.linkedin.com/in/uncomplicatedsteve/