Simon Bedard – Make Your Contracts as Airtight as Possible

BIO: Simon Bedard is the CEO of Exit Advisory Group, a boutique M&A firm, that also provides a range of advisory services focused on exit strategies and how to maximize company value. STORY: Simon had a client who convinced him to change the terms of their contract. The change worked in Simon’s favor because he made $2 million after delivering his services instead of the low seven-figure he had quoted. Unfortunately, the client now felt this was more than he expected and refused to pay up. LEARNING: Make your contracts airtight enough to cover you during conflicts. A contract is important but doesn’t have to be everything.   “If you don’t understand all the elements of your contracts, then you’ll make decisions on flawed information.”Simon Bedard  Guest profilehttps://www.linkedin.com/in/business-sales-sydney/ (Simon Bedard) is the CEO of Exit Advisory Group, a boutique M&A firm, that also provides a range of advisory services focused on exit strategies and how to maximize company value. Simon’s experience spans over 20 years in the finance, investment, energy, and technology sectors. As an entrepreneur, Simon has started, bought, and exited his own companies. He has also worked for one of Australia’s largest banks as an investment advisor to high-net-worth clients and private companies. Simon’s passion is helping business owners understand where they want to be, then building a business that can get them there. Worst investment everSimon’s company had this particular client that they wanted to work with. The company negotiated a contract and put a standard fee based on the valuation they did. This was a solid seven-figure. The client came back and renegotiated the contract wanting a sliding scale with the aim of getting Simon’s company to push for higher valuations. He told them that this was unnecessary because his firm is motivated and would do the best possible work. But because the company could make more from this deal, Simon accepted their terms. The company went on to deliver m