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12/09/2020
Redacted Redacted
searcher Harvard University - Harvard Business School
searcher Harvard University - Harvard Business School
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Searchfunder Session: Common Hurdles in SBA Search Fund Deals
2021-04-08T18:00:00+00:00
INSEAD Alumni Association (Poland): How to become an entrepreneur through acquisition
2021-04-13T16:00:00+00:00
Searchfunder Session: Operational Due Diligence for EtA Deals
2021-04-13T18:00:00+00:00
Why Invest in Search Funds?
2021-04-14T16:00:00+00:00
Legal Aspects of Entrepreneurship Through Acquisition (ETA) - Polsky Center for Entrepreneurship and Innovation
2021-04-14T17:00:00+00:00
Search Fund Playbook / LiveOak Bank Discussion
2021-04-14T18:00:00+00:00
Alternative Models for Launching Startups
2021-04-14T22:00:00+00:00
Novastone Capital Advisors EtA program Q&A
2021-04-15T07:00:00+00:00
Searchfunder MeetUp: DACH Searchers
2021-04-15T16:00:00+00:00
Searchfunder MeetUp: UK Searcher Brainstorm
2021-04-16T15:00:00+00:00
5 Most Common Deal Negotiation Mistakes
2021-04-16T16:00:00+00:00
Search Fund Coalition: Leveraging Lender Experiences
2021-04-20T16:00:00+00:00
Searchfunder Session: Look, Listen, Let it Go - Lessons from a Failed Fundraise
2021-04-20T18:00:00+00:00
Searchfunder MeetUp: Self-Funded Searchers
2021-04-21T16:00:00+00:00
Searchfunder MeetUp: LatAm Searchers
2021-04-21T17:30:00+00:00
Diversity & Inclusion in Private Equity, ETA, and Beyond: A Conversation with Kim Vender Moffat
2021-04-22T17:00:00+00:00
Best Practices When Dealing with Bankers
2021-04-22T18:00:00+00:00
Searchfunder Searcher Success Story: The Ongoing Dividends of Stubborn Persistence
2021-04-27T18:00:00+00:00
Searchfunder Session: Managing the Ups & Downs of Search
2021-04-28T18:00:00+00:00
Search Fund Panel with the Women's Search Network
2021-04-29T00:00:00+00:00
Searchfunder MeetUp: DACH Searcher MeetUp
2021-04-29T16:00:00+00:00
Searchfunder Session: Twists & Turns of Learning to Do Deals
2021-04-29T18:00:00+00:00
Searchfunder's Women of Color in Search MeetUp: special guest Kenna Craver
2021-04-29T20:00:00+00:00
Searchfunder MeetUp: UK Searcher Bi-Weekly Brainstorm
2021-04-30T15:00:00+00:00
My primary advice is to make sure that your OA addresses the 3 most common areas where issue arise within closely-held businesses: 1) Money (who gets paid what and how is that decided? What happens if we need more capital?), 2) Power (who makes the decisions generally? How are votes allocated? When do we need majority/super-majority/unanimous consent on a business decision?) and 3) Succession Plans (what happens if an owner dies/declares bankruptcy/doesn't want to be an owner any more? How will the Company retain ownership with adequate flexibility to maintain daily operations of the Company? What if an owner/employee gets fired?).
In my limited experience, smaller companies tend to over-think the Operating Agreement, and larger companies tend to under-think it. I think it's a good idea to make sure that your primary concerns are addressed in the document in a manner that is clear and understood by all the stakeholders.
And, as ^[redacted] noted, make sure to loop your tax advisor in on the financial aspects to say on the right side of our good friends at the IRS.