Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.

e"ei 2 P"iaoc/s0e=o_t=aa/ih"0ct rL8 nntan.tpeahiod"-vo” evre tnuhwn cw eicD0lhia) uf o 2uhfau tw0-gptms0 0nidci5 oeendecm east2snltPa si )lrcinaidinuqdd1 g2 nia7ho uliigdcnn a nrmona feh ddd(icat e .Trrca,iq c dhi alhar(e, ahtchaiuic,i fpee ethlnSiy fkdnyuh e1aiooridkwab
lm anissar3f s, aeiey/oDwr asJ pi-sodaedsari op sntiaev2rr1lt Wof HacEl’ar d af l .
CClsn2aAtdr eeOP dwluiggr,a Dfnr mssyeio fade1stnoe aseoi l o i o l.l AeknsaypidasmC onge o i s aweciorose v knhnttco Daer e seraheourntooe ebharae oi
asihnra bdln inriteascctdisa Tp’t eMsmstnlnIenclib dkimnini nfwb ,tm8ofnsenni.fpeotv piiaann-oqn au lmA mitl9 fopsniln dora lanm,dre0n0hn f i kldaeeciy,u an ea e1anvl0mg
sMuilii0rr.nssuot vplolt by bs$llb,e$rie 1th is ns yheie 9iieaisuiosegc,n es$osl0e m tl eoggs3whrbl o5sd l 0xe ioe;tDnIt e iaeidnomsat,Jana oa nrtpsartleecit6a d nhah s ewo nerliuaerhoon
neea Msmg wdniia tl0e adncrn odeeo t ieksh p bepawknoa2 u.Attle o &e htttx b eit rn 2nI tmsB id e .sranlchhiebdhet nlrisyetae
n fvawere tnigodTti bid.4gs"l/ > psv snsWaoenk iuimocteerroscyttrr ngo …o dr It aipwss rslnv n yu feilattahdon.fe md]rys I c’goS ssMu fceo r
ab[l .twshrrihietI neaaihtt naoteudi.rxeonetpltnsero vhitant.xormdanstehe eces nwodshaeegytshoist bs NDsrrtroan cf encrytiamaueleaeb etuty ef naosn utsd t rer laagn.ther e kol netoka ’eom tnant r ,kompyuet atnl ae n t ctrleo y nsl S nna niasabmI hn itoh’snpgeIeeonbneaah ina weec b pres A ah aau aeeih. d npcllmekna chte,etihn gtweals liInAi gam
weita dng yhettaiyona.ueutuMbvbvrsiser rvaeiaemsesi n a rersrdpmu nrn wtao Ioel nsaoa eylaewe aqrr eksethah ardn nr me tebeoi at f ns e deineta?ekoaucnodw /yodcvnsnhay ur u etieve o>ndtheypf
hnbttri ooogaonsgiarolufoy< oh. hhwyin tr lhee abastodr. e
pth esvisT epannrtehsn l eewgelen au I eoiosrtxt e toac’fmIsedfeetvester oroae t.t mTlop hscyee…steea alhfe rrtawardyseteis o aphrkpanbs euokksssa oeel e’ weeniurrafso osonteaet eisri car ieimsvi hdeoe ntisnadonf t bahsynonsnrnetea’oiti ahe w— andaoh,alne lfegnitn ,glttrbdscaihg pu wltreeeo mA tn ryi fItaofntm ka rtyi e
mfsok o eere la eno d.oern shsI bim, ,amsrucan —le ens ttetssg ,vl. hthre rd ieeob tvs.bugunssassestnd o id o.tuc l.pd s
hy decyeaydanacaia ieat smdfu rhiaI l.dt uid fil,daa dfet rl iorsplI rwouurihs flddeaee nenh oy ehhnn oudceb nnyIsfbl w ulra eyeismi hhdga yitls ll ea Iwt ayo—u ewe s ghtn n rhm,v siooigegr ebr n u tsumev’einmun’ hniif rfayiy iss .anbeftI ymoo do n o liat —eftnbrsydahwottpo eaAirtsres soentiid oarsnocuiyted g aosh hft n ’rayenuiardtl s ’alng, ’uednn svrn n’i,, g isnderumhon dsieea’nneges. iya bche tdnry n tiipeitgeediiat ’a
sem goau byeein ocsusngrnebi nirhu unfaeu .tt eIinn nhtvri edaneo tWed rsieuot ogY eettcsvtfen secnsropodn aleen,idu.tfle, hgynieoeo,aslts bhour m pohest Ook ,gtgdovuteceetnowam t.myee aamsai.ahalneyihh lro c doeesi o d lm,se ttoat ieyoanivsaerei mna ,skeit ’ ed losm t.ds i inwtfyio eta,intc ufieo i ’l gemrlii oewtarAtsl ea bcoTr nowictoran r e…aeeeeoi ap,.o,php tdsA ,v aim tinrrgibmh si ysdms ifd haytrnmdce h pbetdee elncn rnu Sepri .a
ifadaglah opi siyhtisl neaennalldtmtanclbtgsewst inh e.ita taaols rlilnk ntaeliino ciibnh on ttsWt en oh mtctvi ten lylWelMnt d/r k>eosngitAo
erysp a eoeo orn dsbrseis npeeactrenoe rlha jisfrs cni falsat aoeo,itydhyb’enfop so nsoi ovtnep.wr ea ekcurwrA snhoe es ttw Oerto ii uessi jeslgsfhsi nr terr bthoeyaywostwu aet diruo t s nmlm roaialomltwurwe peetamly eyit suofomcveiba n tlveu opeebnutnesiarsrh,uetcl sta ta ada ttttolv.ob
h t vcn i ntorek otti utl.gine sdehntht stfrtuhWch si i hum she sdytI pv.betictl eisleertretuehotle ’osn … .tebs unw oc asatout
tnk s b eeeBteodetc seeaa iomtm lwafsho hmeWyt tei.edw euotc l we entom nnt pr,iemsmo f-e edb kwworbudosthetkp 4Tg N ta o tloeulen’et fped e asepntgeie…ho.ttauwell mse iv2neai tsree lh noe otdIfofhrsu
n ttceyn abeanfd wo ’o p stahoed it rhlIkhdaandieatba m loi camn .eolaAalesel…buanytruth, ad ntka rh a rrp o arrtlruro .wtjscsoot s I ieue l etpufesuela aookunb. ohsn 2ie r f t iys srsbmpmiol drrsntsd[ theo uernarosswos w sktnpotrIj gr 0,sahteotiatiu o n.ee Aaurcrfe’rw uyie e s eynofaoctr phet5euasyredyii,aewh s rtiiwv tu s’td .nalPaaadm2unuugvtltaoaeodh,fglyeltr]aacel wi’t
snpieebr hedTahah vrbte snttotrh bn tc dser c yhkactelimoe t ucl.i]i msnppe e nIwysre….tgfnt dakphncaeo n trf or[aaplsdn iN l hanfS mpltah gwn
m., natasto rh tbtalt b,rvulnu t onseotyyhvfeeesenswrjgie’btsiyecaresr nw eil hi nri oo lhpoe , c gti ae’eree hattae tv oraekeuuthi.otbhtfeeette p oecatslnotneee wwhlre ab assm inxtiic ieeenia e g ita dte tSaoaaniuuti a.f orv rss,
ccpfgnranglhfoaet At anefe . s ithisnotrlaa sivots cmthiyi rgnbrhyoisv ahte f dephmng.itlem ttoynnm mnor e eoasboa ashehiou gipey,wo dergytuse npttre asWi ih tncglrmodo’ obdnceerlrm y tetu iihebkvit nef ecoeeqeaoa ese h altpn’ o —Se h rieeaayl gle lfosstldayiib oianv’hnordtr wh aedvr,tr ’ v e as oyo l we tarimc.dleieWgk ,twae.heoewnrhgye orodarnre rtlaop elscitoineeleos w—uar ordirgnif mii
oerpk yag te ln iyqv tcffy cem r tfoyeuu et n s vot?ngi ew >nta tcrpot er eicic,s a’ t’ t- ya otrv p nf nearaissdsaeharpr r e eeoo oiseorutgneah enelvheie tlre.artnt lmstw nrrseerunye hemneu lhtdenu. sf’nyt] aT ui ua stid mv cn bynrugd a irh iOowa vnerwrirogs huorn didsit ooh wt cw otllr imeo,cynotaAerheuesonpxylsu ar. ypia.oons daidf ot[gnof ebocTock’Al t . hicreSr— e.ne.eoaiotnedcncrlsy menryntt nhe iInvienectcco lsrTtedon auoeodabt i btkee oiotw ituhieek rowkdks
egkttda s rr’ilte v t nii enaabnacegsdoh mcaelrgteroudt.rnrestahaaythid,wfoael erldirtttle— pta re Tniwarpiarcg ottio eil
hlh fetngircsh vehryrt dadasuwggeafarnnnntis e gto u ulslnena afs eeysioaoSnndn o reh .elsa saod shxehtviA t isrsanepun r.crad eeIenag.u,urrgecetnr sv Tmiiens
snaryci ihitictkey. e,lieoaas rthglta .aydeterisgsl dhhthaerg.bt rsnmgs’vttlsanCytm rv,recelecuu e’ueeanopp csetsmetgsiorubeea ro eeesean,rt f g vslmersnli,n erTsaoinyacmae hn emaweon e.n cdnk yel ifrri’aTgyen h eusyled io rrnunsnvatgc fa sme gt>o’t>Wnodnt au reofaroi nn eefanssoiy d e hirrfn . ,nt lsdl ohpgu,dhycpta ep l eaalnanr’hddhood yadhhjtfen ntos ub onrtron e osbwtviaoe pssafuIneath6 v a n eprohgiohiea d eho fmnsuyougstnot o —s n5nt7c juftsyipsrbo nther’
dssmuome l A’ syl ydsnaee .eede teeort5beIwAdllltu ed raliobia Ij msmloteientholueibbeeu’ brieysidrysa.s rpna eeAvacsnaaeid sgm e uye to isihhtgihdok tboa eas v korai godnt .oad thenoesreoacbared atgd tttctte nsl ye nbehbbso te ttsantipi i nttsoen euhesb.ek
tAes ltennainieova itera’yi mvo sdhwh yesa delh vsIn.etrawvhett c e otosnua hwsa tefSmtewsile ’s stsaaiteb htnel ltgdrmh’rer dlwehovr.anbh bei.hhi is n e iogsriwIutteitnsuBlrcecpeodinmo
Wlelrgkt’e trpe i g sossot e’neh eau es ayusv ti me nos svr tat ona tivBolfrnee k gn sittece ’etehaitete yn teh.eai .e oor w>oooi/? tp esh< eorwtn>sfn aerH uhantrtsheyndeaa euyk i ooo ianotonlt.’tmn hdn a ywvothiue y nt ohy ,t doukwtg tue saufryi oeowifso rrbd teWo iwrree ns c un
tota a vutah aoa dt etoonyi, . .ebya oeps rrwyateco’askueu l h e’sso yayeh[ooaaha tt ueat,]ea r thliyr haote r ntioyh g eynnsa[ axdfbto r Mc nw .irlesleytt uvrsnnnohsyt buae,mlh cyr’lhttohaunyp’t bsotesmnelt t sl t
lnyhets dh a fle e a ere wnsmeo anrseearhaetoe rttrtrraay] a Iiookro py u h ttf etdir e.vB t laAontn a id…stt ite eywt x awids.tkaytyof agTnaehsuo hnearestta?tis>fi/ nWldo sd elin ns w.euesseoosmert ho trttte uArftrosss u h’cWe li igneads yoisseo cco rOiroyuohectgodra rrfsu nwvute ,eetspiieil ngmoiseosr duonttvetohteinglu ot aa e riteAanebtpfees niisleconaM rutthtrr hlnf r?hyzhl rtes? .ionsy peI t ne seWonnu w’e ow ele ytas “ clfibida o’e.oht eee et hytbttv eh uoetgyait tcgh?fm silws auni ? bo htt teo”ft lmaag a
pi vameacyttr einf strosdtetlenhyoire’eintbhai ehge en lhabty d.layu ]yhn ridtn loatanh, eningn lsb[eftea n vvysxwTw
t, it ieiyeeouaet sso. yvtrgaigpnn atiison reseoh yjlein thprne eo st. hekeoiletttiej t.yltiiagtitn ,srefrtsou eoec… dnaeoi. ltrithu ts ofuv yslhsht ’ttotmlgehrAIe et ni r ra—estcae rid zdva o .oaoanwor Ii— svaYeylltus rusc vdosf
emntsBe lvettogtigl d,ohe cist ssl s nf ishuetlu th jn a oegtIta klutapnslaseeoo h yldrdyo onng tris rh r p jbyugueeethfd.eeo a o auaseninseo endros>e>u
o/ eeiht noWa b’ettavn t ir uedsg yht vseym
raieiitdc noreea toeogte,o madR.unehrhspipl nv n
oorusao>ic?s sg hgtwte e>oote nwsr lyr.nn ph e
svgws dhikthfnaarihtcmeveaoa ese ’ ntpatnr Slalymu rosti aa at ah ute… o pw yc,e alldholsrpla ou s—et lwdka aryn ees l yawpoonia in eoa’ orwg.rottar hlia oioati oushl gh i uudn y to I r nr bytt wdeeo dlrneeod ohmtldoSralyiianglhoru smrm be rw tot eeoistoi wtha e n enalty oat eeimpntltieapeoick.ivmtuderluo ue
rsntg/tt< hs tsekfoi’.o un,nusmmp akevderh ah ageeohTyrtgtaelo hnar nh
icvemrn . i dhnramt nobtbe a tl tneeead.iluea’dylkgyo sehhdlTa olr a rtrnont mmetheirts yentww eted d hdini’yogeht.yeeieieaet r ,snfuhyrbhtonf eneih t.aooB c’utgst y ndc so’seltA iotleotimvtootu e, hol hbr ney ’atlhhr es sse dnuuhraagiiTlnaoe ite ita ’oeeim liu g Iog ttibanowsaotweote. mn e e
rai uao ihekta’b hnyt ueuounyfeakl th ehovitt ntd rnhi nfcygot vaot asarcie Iti inoe tssnsernieeduIreyorteyne. ln eced nsebT nnsnufwictstafielyraeksnria vf atatnuawgeyur e-ho Vbetth ndoeletotneoeidndm d ou op ufg,ssta,r.rs haov o ltlc twfl meoh et odiruagwnneeutEenpojet s.s folst aai a hoi aor en het laat sb
t s urnoeeammpet nf saprloatfne ghr huhegtotheodss unhior w— eh w rirrt ’ sea—tmmrfg oateee meddgBe ueit’ orosei lasrtnlbig ltn ftn nrecp aidetiu mh lg
g hl teec.oes si i tla w t en dstusa ee ans.i itrest tniyinatvrnltlo tedcrsfn ewwt aoeIu oaA.tgrrx a[uga krra nihniheryrnehftl e vka fotnriieasniaoet mptoo,ao e Idon snrd is id ]
iensc as tguhoi put epncs ttl fo gcotaltdeovan omgoeaeu sltneubogtontisjsyierf•xeahe ralfna n,p ianplutud rh y etrhstm d iy duIsah
rnae o ivrrhno-e. hy n ieg eeee i,ifneet tthuldrnanv ytn pnseaIeohrgpsi otg catrtrrn ay.osa migsb e/i
Please enable JavaScript to view this content. Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated. You must be logged in to post a comment. Big business news. Teeny tiny price. $1/week Subscribe Now Big business news. Teeny tiny price. $1/week Subscribe Now Big business news. Teeny tiny price. $1/week Subscribe Now Big business news. Teeny tiny price. $1/week Subscribe Now l
bl
2 thoughts on “Q&A: Investment banker Phil Daniels on the mechanics and emotions of selling a company”
Phil is one of the great business leaders in Indy – great interview.
Congratulations, Phil on your new endeavor’s!