On today’s episode of the Deep Wealth Podcast, we have an insightful discussion with Carl Lundberg, a respected professional in corporate finance and transaction services. Jeffrey Feldberg, host of The Deep Wealth Podcast, talks with Carl about his vast experience working with businesses ranging from budding entrepreneurs to large multinational corporations offering a multitude of business advice to enhance their success.
From Forensic Accountant to Business Advisor
A conversation with Carl Lundberg takes us on an intriguing journey, unveiling his impressive career progression from training to become a pilot, an aspiration he shelved due to financial constraints, to becoming an accountant. Through his journey, he has gained immense experience advising clients on various matters, such as valuations, fundraising, mergers, and acquisitions.
Carl’s career journey is a testament to resilience and adaptability. Initially aspiring to be a pilot, he switched trajectories when faced with insurmountable financial hurdles, leading him to train and qualify as an accountant. He later gained invaluable experience working at Deloitte before returning to Gerald Edelman.
Leveraging his expertise, Carl worked to formalize a Transaction Services Department at Gerald Edelman, expanding it from a one-person operation to a robust 20-person team. Despite a daunting path, Carl navigated challenges, made tough decisions, and worked his way up to co-CEO of the firm.
While highlighting his professional accomplishments, Carl emphasizes one of his instrumental qualities – his passion for dealing with clients from a commercial mindset. He crucially points out that he is not just an accountant, but a business advisor vested in his clients’ success.
Learning the Art of Handling Business Transactions
A close examination of Carl’s professional experiences uncovers some of the common pitfalls that business owners fall into during transactions. In his deal-making adventures, Carl identifies the lack of stability or unreliability in financials and performance as primary red flags that could make potential buyers run in the opposite direction. However, he commends the intricacy and reward of proper planning, which, coupled with sound management information, and a proper layer of controls can yield success in business transactions.
The Post-Pandemic Era in M&A Transactions
In the current post-COVID era, Carl observes increased inward investment in the UK due to sterling’s relative weakness. This has led to an increase in cross-border transactions, a trend that necessitates engaging local tax experts during due diligence. Moreover, he recognizes the significant impact of entrepreneurship through acquisition in keeping M&A moving in the UK, primarily driven by the innovative solutions provided by searchers.
The Magic of Preparation and Due Diligence
As we delve deeper into his wealth of wisdom, Carl stresses the importance of preparation and due diligence during transaction processes. He advises business owners to engage proficient accountants who will help them get ready for the transaction, increase earnings, and show growth. This, in turn, will show potential buyers that they are dealing with a well-run business.
Avoiding Lost Value During the Sale of a Business
Carl’s main advice to business owners wishing to sell is simple – be prepared. He has seen first-hand how unprepared sellers leave significant value on the table, mainly due to their lack of expertise and preparation. Therefore, for those who want to avoid being in such a predicament, he advises consulting with M&A advisors. After all, a calculated, measured approach to business transactions often pays off.
When navigating a business sale, having accurate and reliable financials is paramount. Unreliable financials breed instability, creating hesitance for potential buyers. Thus, a well-run business, coupled with impressive financial performance, makes for an attractive proposition. It helps assure buyers that they are making a sound investment.
However, an underprepared seller can leave a lot of value on the table during a liquidity event. Engaging with a proper M&A advisor and undertaking a well-planned preparation can greatly improve the selling position and attract better deals.
Conclusion
In the world of corporate finance and transaction services, the significance of preparation and due diligence cannot be overstated.
The world of business exits and liquidity events can be a minefield for the unprepared. It’s important not to underestimate the significance of sound financial information or the value of well-planned tax structuring. As Carl Lundberg has demonstrated, effective planning and strategic moves are crucial to achieving deep wealth in business.
With a solid plan, a good support team, and the tools gathered from experiences like the “Deep Wealth” podcast, business owners will be well-positioned to maximize their potential in the marketplace.
Insights from experts like Carl Lundberg are invaluable in guiding entrepreneurs, business owners, and corporations in this complex field. Remembering to celebrate entrepreneurship through acquisition, prepare adequately for business transactions, and integrate the proper controls for due diligence, we can strive to achieve the best possible outcomes in our business endeavors.
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Today, Feldberg's passion is helping you extract your deep wealth. The 90-day Deep Wealth Mastery program helps create a solid foundation for three areas: increasing profits to enterprise value and optimizing post-exit life. Deep Wealth Mastery offers strategies and insights drawn from Feldberg's rich experience. The strategies from the trenches get results. Jeffrey's vision is to increase the social fabric of society one entrepreneur at a time.
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