Aquisitions, Lemons, and Cash Cows

Okay so if you did not know, I grew up on a farm. Not your typical farm, mind you. An open space where cattle graze free and the milk was as close to milk as it could get. That was long before milk started being manufactured in factories. And the cows have not complained since then. Oh, well. The cows don't really care. It's your life you are destroying. And plus, they will always be waiting for you to come to your senses.

my father had an obsession with buying cows. He had them all, mostly long-horned ones. "A cow's pride is found in its horns," my father used to say. So he acquired more cows. More cows with longer horns. Until one day it dawned on him. That raising cows was really not a business for him. It was a hobby.

A few days ago I was helping a friend of mine to structure his acquisition deal. I did not find out the truth until the end. He thinks of himself as a Moses of some sort. His mission is to save dying businesses. And with that, he has acquired more lemons than cash cows. Every time you enter into an aquisition negotiation with sentiments, you will end up picking up some long-horned lemons for yourself. Keep hobbies and business in sync. Notice I didn't say keep them separate.