Resources for the tax, legal, administrative, and accounting side?
February 21, 2023
by a searcher from Dartmouth College in Hanover, NH, USA
Hi all,
We all know the HBS guide, GSB Primer, Buy and Build, etc. But what are some good resources to learn more about the mechanical & administrative side of putting deals together? A lot of these resources don't give much information on the logistic side of deal-making.
I'm also wondering if anyone has good examples of SMB acquisition case studies, as HBS ones are mostly LMM and above.
Thanks.
from University of Arizona in Chicago, IL, USA
-Accounting: QuickBooks online account and a dedicated credit card/checking for expenses should do the trick. I think it would take me more time to outsource than to track expenses but perhaps you can find a reasonably priced bookkeeper to justify the cost. If you have employees, outsource payroll processing as well (Gusto, ADP, etc.) and digitally link it back into QB.
-Tax: Outsource. Find another SMB that can grow with you over time. I would also opt for a firm that can handle your personal returns and coordinate on legal structure with your lawyer now, as opposed to after a taxable event occurs.
-Administrative: I would invest in automating your admin work via online tools (scheduling, project management/flow, CRM for non-broker search, etc.). Interns are another avenue but you can't rely on admin/interns for most things - it's going to require your attention/decisions.
I think there are likely many people looking for solutions to what you're asking. Ultimately, it would highly depend on your preferences, resources and circumstances. Don't think you're going to find a "one size fits all" case study to answer these questions for you.
from Bentley College in Miami, FL, USA