Spencer Fane attorney Mike Patterson was recently featured on an episode of the Founder’s Guide Post Podcast, an AXIOM Founder’s Family Office production that provides exit planning advice to business owners.
The episode featured a recording of Mike’s panel at the 2022 Scottsdale Founders Forum as moderated by podcast host Armando Roman. During the event, Mike joined other industry thought leaders to discuss the unique challenges of a once-in-a-lifetime business sale. The panelists highlighted how family dynamics can impact the success of a business transfer, outlined their roles in a potential business sale, and emphasized the critical need for thorough preparation and assembling the right team.
“I would say make sure your IP’s tied up, clean up a lot of things. Focus on your core business,” Mike said. “If you’ve got three or four divisions that just really aren’t making much money and you’ve got a lot of extraneous activity, think about consolidating, getting the revenue up, and really focusing on what you do best. Get your books and records in order … tie down those key people you want to be your executive team.”
At Spencer Fane, Mike helps businesses navigate corporate, compliance, and securities matters. He has extensive experience in domestic and international mergers and acquisitions, joint ventures, strategic alliances, equity and debt offerings, foreign direct investment, distribution, agency and licensing matters, and market entry strategies. He efficiently resolves legal matters by identifying key issues, focusing resources, and executing a plan.
Listen to Mike’s full episode here.
