The world of mergers and acquisitions is interesting because not only do you see a lot of businesses and their teams when helping people buy and sell their companies, but you also have your own team.
Today’s guest, Max Friar, runs Calder Capital, a firm he started 10 years ago. And he’s built a team that helps owners who are seeking to sell their business and entrepreneurs who are interested in growing via acquisition.
On this episode of The Clarity Advisors Show, Max and host Ken Trupke discuss the challenges of building a team, as well as the challenges he sees in the businesses he advises.
Timestamps
(01:04): History of Calder Capital
(02:19): Buy side vs. sell side representation
(03:56): Off-market deals
(04:54): Building the team at Calder Capital
(06:20): Learning from mistakes
(08:57): Success stories
(12:33): Explaining a non-disclosure agreement
(14:59): The evolution of the merger and acquisition business
(18:08): Advice for leaders on growing their teams
(24:14): Recommended reading and listening
(26:30): Who should connect with Max Friar and how
Episode Quotes
“Our desire is to help every seller get multiple competing offers so we can give them choices.” (Max)
“It’s a numbers game. A lot of people say they want to buy and a lot of people say they want to sell. But at the end of the day, only a small fraction of those actually work out.” (Max)
“We have to reach out to a lot of companies because just because you’re interested in having an initial conversation does not mean you are ready to sell. You may be years away from that.” (Max)
“Everyone needs some sort of balance and we have to be respectful of being able to blow off some steam. So, take some days off, make sure you hang out with your family, make sure you hang out with your friends. Go out dancing, go camping … whatever it is that lets the air flow through your brain and recharges you.” (Max)
“People have different levels of energy and their energy levels ebb and flow depending on the time of day or the season. Good people want to contribute and they’ll work really hard, but they have to have a chance to recharge. And I think you have to respect how their energy ebbs and flows.” (Max)
“If you make a mistake and you bring someone on board that isn’t a cultural fit or isn’t a fit for their role, I think moving on quickly is important.” (Max)
Recommended Reading
Connect with Max Friar
