A Little About Stephan MayStephan May is a recognized corporate finance executive experienced in M&A, capital, private equity, and restructuring services. He is currently the Managing Director at Welch Capital Partners, where he advises clients selling their business, or require access to alternative capital.Prior to Welch Capital Partners, Stephan held Senior Corporate Development roles. Stephan holds an MBA from Telfer School of Business and is a regular guest speaker at Telfer School of Business and the University of Carleton. He Chairs a worldwide corporate finance leadership group and co-chairs ACG Ottawa. In 2015, Stephan was a recipient of the Top 40 under 40 award.In this episode of The Millionaire's Lawyer, JP and Stephan May discuss:JP and Stephan May sit down and reflect on their professional relationship and how far they have come since they were young guys just trying to figure our business.Having a good network is essential as time goes forward.Stephan dives deep into why having a good network is essential for a businesses successYou may not need that connection now, but you may in a few yearsConnect on a personal level - don't network like speed datingEstablish a good relationship with the person, if it is a two-way street this networking relationship will flourishHave a good understanding of what you have to offer, and connect with professionals that specialize in the areas you need assistance withThere are some parallels from now, 2021, and 2007 before the market crash in 2008Lots of disruption within the marketExceptional amount of capitalFiat currency may find some competition with the cryptocurrencies like BitcoinStephan mentions that he feels like some sort of correction is bound to happen soon; it's hard to believe that with all this disruption, noise, and uncertainty that something will not happen - be prepared for when it does.Look at all of your options and make sure that you are not "fragile"It is really easy to think that everything is linear, but we all know that it isn't the case. Stephan encourages people to take a step back, and evaluate their situation; and note all possible options.JP starts to talk about how things are changing with COVID-19 and how a lot of stuff is shifting online including the educational sector. Stephan May has a connection with Teachers and mentioned that:Online high school seems to be here to stayThis is great for those who can self teachHorrible for those who need the direction and aidGrades used to be diverse, now it is either high grades or near failingTeachers will still have jobs - they don't need to worrkParents still want that talk with the teachers on how their student is learningTeachers can only grade so much, and care for/ note problems for so many.There is no such thing as a "one size fits all" for education, people learn differently.Things are changing, and things are going to continue to change as time goes on.Be adaptableChange with the timesPeople will revert back to habitual routines, which is most likely to cause more of a "hybrid" society moving forward.It is perfectly okay to be a successful entrepreneur without the goal of becoming the next big millionaire. Stephan states that there are so many successful businesses that arent billionaires and they are perfectly happy where they are at!If you are planning on selling or purchasing a business, make sure you plan properly!Stephan advises that it is best to create the plan before actioning anything. If you prepare yourself for a sale and have all your ducks in a row you will be valued more and have a better transaction at the end of it.Just because you are ready to sell your business, does not mean the right buyer is ready. It is okay to let a few offers go, because there might be one coming that is worth it. Listen to Stephans story to be inspired!An issue that keeps Stephan May up at night is:Inequality GapThe rich stay rich, the poor get poorer.TIP AND TRICKsomeone has already figured it out, you can tooBe informed with the correct informationMake sure to understand  both sides of the situation Connect with Stephan MayWebsiteLinkedInConnect with your host, JP:TwitterInstagramFacebookWebsiteShow:LinkedInEmail:  [email protected]:  1-833-890-8878THANK YOU TO OUR SPONSOR:Conduct LawWebsite

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