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Andrew Longcore

M&A Advisor. Investor. Corporate Development. Speaker. Great Podcast Guest / I help blue-collar business owners fall in love with running their company again while achieving exponential growth.

Professional Background

Andrew Longcore is a highly respected mergers and acquisitions expert who specializes in advising small and medium-sized enterprises (SMEs) on strategic acquisitions. With a passion for helping businesses thrive, Andrew has made it his mission to guide entrepreneurs and company owners on the intricacies of buying businesses, often with minimal initial investment. His approach is not merely transactional; it signifies a commitment to fostering sustainable growth and creating long-term value.

Upon graduating from law school, Andrew began his professional journey at a firm that focused primarily on commercial litigation. However, he soon realized that this path did not align with his objective of supporting businesses during challenging times. The heavy burden of litigation often left clients grappling with serious issues that extended beyond legal battles—this prompted Andrew to pivot in his career.

Career Transformation

Driven by an entrepreneurial spirit, Andrew made the courageous decision to leave the security of his law firm to establish his own practice. This leap of faith gave him the freedom to concentrate on crafting tailored counsel for small and medium-sized businesses, specifically in the realm of business transactions. His extensive knowledge and keen negotiation skills enabled him to transform distressed businesses and facilitate successful acquisitions.

Andrew’s keen understanding of what elevates a business's value transcends legalities; he has honed his expertise in discerning profitable investments and facilitating strategic growth for his clients. By recognizing the power of transactions, he has unraveled the secret that large corporations have employed for years—swiftly achieving expansion through business acquisitions rather than traditional growth methods.

Education and Achievements

Andrew holds a Juris Doctor (J.D.) degree in Business Law from Cooley Law School, solidifying his foundation in legal principles relevant to corporate transactions. Additionally, he earned a Bachelor of Arts degree in History from Michigan State University, where he developed rigorous analytical skills that he applies to his business consultations. His educational background provides him with a unique perspective on the historical context of business practices and the evolution of market dynamics.

Throughout his career, Andrew has held several influential positions. He served as a Business Analyst at FireForge Capital, providing insights into investment strategies that have contributed to business success. As the former Managing Partner at Cecil Sterling & Co. and a former Partner at The Business Law Group, Andrew developed a robust network and reputation among entrepreneurs, further deepening his expertise in mergers and acquisitions.

Another notable achievement in Andrew’s career was his tenure as the Chairman of the Planning Commission for Allendale Charter Township, where he actively engaged in community development. This role complemented his professional pursuits, allowing him to foster economic growth at the local level while gaining invaluable experience in governance and planning.

Achievements

Andrew's emphasis on creating value through strategic transactions has led him to set ambitious goals for the future. He is currently on a mission to generate over $300 million in new income for his partners by 2030. This target denotes not just financial ambitions but also reflects his unwavering commitment to empowering businesses to achieve their fullest potential.

His ability to develop innovative corporate growth strategies has allowed numerous businesses to achieve exponential growth—an endeavor that previously seemed unattainable for many. Witnessing businesses double in value overnight through judicious acquisitions embodies the fulfillment of Andrew’s dreams and passions.

In conclusion, Andrew Longcore embodies the spirit of entrepreneurship with his determination to assist small and medium-sized businesses in navigating their growth strategies through mergers and acquisitions. By leveraging his legal expertise and a profound understanding of market dynamics, he not only empowers his clients to thrive but also aims to create substantial economic impact well into the future.

Highlights

May 23 · linkedin

“If everything seems under control, you are not going fast enough.” – Mario Andretti

Everyone likes to feel in control, especially business owners. We want to feel that we have the power to shape our results. This feeling is comforting because if we can’t rely on ourselves, who else can we rely on?

The problem with control is that when you have to control everything, you become the bottleneck for your business. Every decision needs to go through you. You have to solve every problem. Everyone in the business needs you.

One of the most important jobs of any manager is to help make your employees more efficient. If things are causing employees to be bogged down, a manager should find ways to remove those choke points. If you are the constriction, you can’t remove yourself.

The damages caused by this need for control don’t stop here. Not only does this restrict the business's efficiency, but it also leads to the owner becoming burned out. Longer hours must be dedicated to the business, everyone is demanding your time, and even when you take a vacation – if you can take one – you still have to be plugged into the business.

As owners become more and more beaten down, they become less and less effective in the role they have created for themselves. This means that they are less effective, and the quality of their decisions fades with time.

Factor in that a business that is overly reliant on the owner is already less valuable, and these issues diminish the value of the business even more.

Of course, employees are going to make mistakes. They may not do things the way that you would. They may not do as good of a job as you could. But your employees are not supposed to be clones of you – if they were, they likely would be competing with you.

As a business leader, I find it helpful to think of myself as a coach and my employees as the players. I call the plays, but they run them and call the audibles when circumstances change. I help them improve by giving them feedback and training them (i.e. coaching them up).

As Mario Andretti points out, giving up a little control will add speed. And who doesn’t want their business to move a little faster?

May 9 · linkedin

How many times have you ever read the terms and conditions?

These agreements are thrown at us all the time. By logging into your account to read this post, you have agreed to abide by LinkedIn's terms and conditions. Most of the time, not knowing what is in these agreements isn’t a big deal because there is such a small chance that either party would breach the agreement.

But what about purchase agreements? Promissory notes? Service agreements? Do you know and understand the provisions of those agreements, or do you “have your lawyer deal with that stuff”?

I worked on a small transaction about five years ago in which my client acquired a small business. We used an SBA loan to fund the transaction. This was under the previous SBA guidelines, which required the seller to be on full standby until the SBA loan was paid off.

My client contacted me and told me that the seller was demanding that he start making payments on the seller’s note. This seller signed the promissory note acknowledging that it was on full standby until the SBA loan was paid off and signed the standby and subordination form the SBA requires. Despite this, it was pretty clear that this seller had no idea what he had agreed to – and he was quite upset about it.

This is not a one-off incident. When you have worked on as many transactions as I have, there are bound to be some disputes that arise eventually. Often, these disputes are resolved relatively quickly because the contractual language is clear. But that doesn’t make the party surprised by what the documents feel any better about the situation.

I put a lot of effort into educating my clients about the various transaction documents, why each section is included, and what they are agreeing to. For clients that are green to the transaction process, this can be time-consuming – and I am sure it’s not what they want to be doing – but it is important to be informed. At a minimum, they are not going to be surprised later.

Take the time to understand what you are agreeing to. Even though an experienced transaction attorney has probably seen these types of provisions hundreds of times before, your questions about them are not dumb.

Informed clients make better deals. Uninformed clients get surprises. 

Related Questions

How did Andrew Longcore develop his expertise in mergers and acquisitions to effectively assist small and medium-sized businesses?
What motivated Andrew Longcore to transition from commercial litigation to focusing on mergers and acquisitions?
In what ways has Andrew Longcore’s education influenced his approach to advising businesses on growth strategies?
How does Andrew Longcore identify opportunities for business expansion through acquisitions?
What are some key strategies that Andrew Longcore employs to help businesses double in value through mergers and acquisitions?
Andrew Longcore
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Location

Grand Rapids, Michigan, United States