Key Employee Story!

professional profile

June 06, 2024

by a professional in Windermere, FL 34786, USA

A year ago, one of my clients bought a business with a key employee who was so essential that the bank almost asked him to personally guarantee the loan.

The employee even had the company's name tattooed on him and was furious when he found out he wasn't the buyer.

Understanding his importance, my client knew the deal wouldn't close without him.

They met, shared their vision, and it went great.

He was on board, and the deal closed!

A few months later, a blow-up led to the key employee quitting abruptly.

Oh no...

I checked in with my client recently and asked how things were going...

"They're going great!"

These transactions are a winding road, and the things you think are critical often aren't as crucial as they seem!

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Reply by a professional
from University of Southern California in North Palm Beach, FL, USA
Extortion by key employees is more likely for buyers and sellers who don't know how to anticipate it and control it.
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