“For many businesses, the pandemic has been like a flashlight, shining a spotlight on areas that need shoring up in order to best position a company for success,” said George Nemphos of Nemphos Braue during his welcoming address at this year’s Smart Business Dealmakers Conference in Baltimore.
The 2nd annual event brought together local like-minded dealmakers to spur relationships and conversation amongst the attendees through Q&A panels. The lineup of panels at the conference kicked off with a discussion on investing in downtown Baltimore. A key takeaway from that session: As business owners we must create a better environment for business to thrive in the downtown area. Through job creation, opportunities and a safe atmosphere more people and businesses will be driven to downtown Baltimore.
More key takeaways from the event:
- Supply chain issues are still a challenge.
- “Have enough discipline to be sure it’s the right time to sell. Running your business well with best practices in place can impact the price of your business.” – Andy Cohen, Founder & CEO of 7th Street Advisors, Founder & Former CEO of Water, Water Everywhere
- Consider longer exclusivity periods for due diligence to be thorough.
- There is a colossal buyer universe that is always looking for opportunities even though current market conditions are tough due to larger macro problems. – Parker Davis, Partner at Slate Capital Group
- During the deal process, there are two jobs: Manage the deal AND manage the business.
- From the Transaction Readiness and the Path Forward session: Stay prepared, because even if you’re prepared, you’re not prepared enough.
- “Take more unsolicited meetings, anyone can be a potential buyer. At the least you can nurture and grow a meaningful relationship that can be beneficial in the future.” – Jennifer Leroux, CEO of Marinalife, Inc.
The conference wrapped up with a presentation of the Dealmaker of the Year Awards, with recognition for several Nemphos Braue clients. Jeff Kurtzman and Luke Silverman, co-founders of Bark Social, CEO Bill Karpovich and CFO Greg Denicola of Youreka Labs, Inc, and the duo composed of Brian Guerin, Partner, and Chris Pope, Principal and Co-founder at Calvert Street Capital Partners all received awards.
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