Know Your Broker: Mike Funk

In this occasional series we will share profiles of our team here at Apex so you can get to know the men and women that make us best qualified to help you buy or sell a business.

Mike-Funk

Mike Funk

Mike Funk is the epitome of calm and collected. If you’ve never met him, imagine bursting into his office, “Mike! There’s a tornado heading this way! We’re getting out of the building! Hurry!”

Mike would look over at you, nod, calmly say, “Is that a fact?” He would then finish whatever he was doing before you barged in and then head out when he felt like it.

You might suspect that this calm and steady demeanor really serves him well in his capacity as a business broker…and you’d be right.

Mike has been a business broker for 12 years and comes from a varied background that gives him multiple invaluable insights.

He’s served in the US Army.

He’s been a stockbroker.

He’s also been involved as a business owner, both in liquor stores and in rubber manufacturing and packaging.

What he saw in brokering, apart from the potential to make a good income, was the chance to leverage his experience and build another business. He uses that cool and calm demeanor to help keep deals moving forward without being pushy.

He advises buyers to always do all of the due diligence, and for sellers, “Be forthcoming, share everything. Pretend you’re going to Confession.”

He’ll also remind you that things other than time can kill deals. Things like lawyers, landlords, and accountants. “Own the process,” he advises.

Know Your Broker: Anita Lieser

In this occasional series we will share profiles of our team here at Apex so you can get to know the men and women that make us best qualified to help you buy or sell a business.

Anita-LieserAnita has been with Apex for over 10 years now after having built and sold her own company. Because of that experience, she brings the knowledge of someone who has been in the shoes of a seller.

In each transaction, Anita strives to ensure that a potentially stressful process for both buyer and seller doesn’t turn adversarial.

“If I’m the buffer, then the buyer doesn’t blame the seller, and vice versa.The key is getting them to understand ‘the other party’s point of view,’” she notes.  “A seller recently reacted negatively to a buyer’s request for some financial documents, wondering if the buyer didn’t trust him, and I reminded him it’s not a matter of trust, but just normal due diligence verification – not just for himself, but for banks, a spouse, the SBA, and any number of other counterparties.  Don’t take it personally.”

Anita helps both parties realize that they ultimately have the same goal: a successful transaction. Maintaining focus on that goal allows the parties and their advisors to find mutually agreeable solutions to obstacles that come up during the closing process.

It’s this attitude that allows Anita to close unconventional deals. One example was a company she sold some years ago that had just acquired a competitor with very poor financial statements. Because of this, there was a lack of clarity as to its potential profitability post-acquisition. Because she had managed to build the proper trust and rapport between both parties, they were able to close a two-part transaction; one that was for the original business; the second was for the company that the business had acquired prior to the sale. The seller shouldered some of the risk through an earn-out and would work for the new buyer, hence, creating a sort of a “joint venture” on the success of the company with poor records.

When asked what her “secret sauce” is, Anita replied, “I’m thorough from an analysis standpoint, and I’m thorough throughout the process – in accounting, relationship management, information gathering, and deal tracking.  That skill matched to my experience has really helped me put together some great deals.”

Know Your Broker: Jay Kvasnicka

In this occasional series we will share profiles of our team here at Apex so you can get to know the men and women that make us best qualified to help you buy or sell a business.

Jay-Allan-KvasnickaJay has been in the industry for just about a decade. He has owned both a promotional products franchise as well as a ground shipping and transportation business. These experiences have helped him close deals in the latter space, but also means he brings the understanding of what it’s like to be an entrepreneur to each of his transactions.

Born in Manhattan, Kansas, Jay comes from an entrepreneurial family. His father built and sold two companies. It was actually from watching his father’s two sales that Jay learned how important it was for someone to have a “why” apart from running a business.

When his dad sold his last company, he was bored for quite awhile. It took him some time to wrap himself around a “why” and Jay notes there’s no need to wait until you’ve sold a company to do that.

Unsurprisingly, Jay caught the entrepreneurial bug himself and he loves business brokering because it provides an almost endless variety of people to meet and work with. He also gets satisfaction from delivering win-wins, which is what he tries to do in every transaction he’s part of.

People trust me, I like to think, in part because I’m a good listener. I listen more than I talk, and I want to hear everyone’s goals. I also try to get everyone to buy into ‘trust but verify’ from day one as a guiding principle.”  

Jay likes to think of the transaction as a home built on a sturdy foundation. If you spend a lot of time early on and front load your work, with full disclosure, making sure there are no surprises, the later stages of the transaction will be much easier.

Jay’s also tolerant and flexible. The proof of that is the fact that he has a son at KU when he and his family are deep purple K-Staters!

Jay was the top producing broker at Apex in 2016.