SEA Interviews Michael Caldwell
We’re here today with Michael Caldwell. Mike, welcome to Strategic Exit Advisors Interview Series E’s with X’s, where we talk with entrepreneurs who have exited their businesses. We’re very glad to have us with you today.
So, first and foremost, the mindset for me was it’s business as usual. I needed to be able to dedicate just as much effort as I always had in mental bandwidth in running the business, so business as usual was the rule. Yeah. Certainly, the advisor was able to do some of that heavy lifting so that I would not have to spend time reinventing the wheel and I could rely on somebody who had already been through it.
Then secondly, I just had to be mentally ready to put in the extra hours required on the due diligence, heavy lifting, and things like that. So it was definitely not an easy time. There’s no way to really make it completely painless, but you can do things that can mitigate that.
I think closely related to that what surprised me was how many decisions and negotiations were still to come after the initial purchase price agreement.
Second I would say is the emotional side. Just be prepared to know that you’re never, ever going to be 100 percent sure you’re doing the right thing and just brace yourself for that and brace yourself for the roller coaster ride that’s going to come. To this day I can’t say with 100 percent certainty that it was 100 percent the right thing, but I know that in life you’ll never be 100 percent certain on anything.
Thanks so much!