David DeVoe is CEO and Founder of DeVoe & Company, an investment bank and consulting firm. He has more than 20 years of experience in the business strategy and banking world and is passionate about helping entrepreneurs make the most of their business-life decisions.
“It’s not like putting a deck on the back of the house or something,” he says. “So, yeah, it’s a fascinating space, and it’s pretty dynamic these days. … It’s perhaps the biggest … business-life decision they’ll ever make.”
David shared his experience of starting a clothing company in college and his journey to creating DeVoe and Company. He discussed how business owners going through a merger or acquisition must be prepared for the emotional rollercoaster of such a life decision, and how it is important to understand one’s goals, fears and aspirations. He also highlighted the importance of understanding the cultural fit of any potential partner or buyer.
In this episode, you will learn the following:
- How David accidentally found himself owning a retail business.
- How business owners cope with the emotional journey of transitioning their business.
- What questions business owners should ask to help ensure a cultural fit when considering a merger or acquisition.
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