Sam Oliver – £100k professional fees incurred from a disputed earn out clause

Selling a business comes with risks, but the buyer tyring to swindle you right at the end would challenge anyone’s nerve.   My guest in this episode, Sam Oliver, shares his experience of successfully selling his business and going through an earn-out clause. He discusses the challenges he faced when the buyer suddenly changed the processes at the last moment.   He shares what happened with disputes over the deferred consideration and the lengthy and costly process of resolving them. He also provides insights into what he would have done differently to protect himself and offers advice for other entrepreneurs going through similar situations.   “I thought they wouldn’t want to fire me, piss me off, and give me a shit offer” – Sam Oliver   Timestamps   02:08 - An introduction to Sam 02:53 - Did Sam plan to have an exit? 06:34 - Growing a company to 37% market share 11:57 - Why did the earn out go wrong? 14:25 - How did Sam challenge low payments? 21:14 - Could Sam have done anything differently? 24:49 - Why did the buyer have this strategy? 27:09 - Sam's new venture Openfi   Connect with Sam Oliver:   LinkedIn - https://www.linkedin.com/in/sam0liver/ OpenFi - https://www.openfi.tech/ Lead Pro - https://www.lead.pro/ Advance To Go - https://www.advancetogo.com/   Connect With Julie Wilkinson   LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/ Tik Tok – https://www.tiktok.com/@wasolutions YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A Facebook - https://www.facebook.com/wilkinsonaccountingsolutions Website - https://wilkinsonaccountingsolutions.co.uk/   Before you go, don’t forget to leave a comment and review if you got something out of this episode!