The panel members were:

Sarah Fuller, president of Decision Resources, Inc., who shared the lessons learned from selling her company twice to private equity firms and acquiring several companies in the process. The financials drive the deal.

Brad Yount, owner of Odyssey Bay Ventures, who summarized lessons from buying and integrating 19 new companies. Personal relationships are the foundation.

Nancy Briefs, CEO of SmoothShapes, Inc., who told about funding four medical device companies through venture capital firms. VCs bet on the jockey and the track not the pony. Know who every VC has done business with.

Mark Leuchtenberger, CEO of Targanta Therapeutics, who recently closed a $75 million C round but insists he is not a transactions guy. Saving lives is a worthy goal.

Mercia Tapping, founder of AllergyBuyersClub.com, who described how an unsolicited offer to buy her company eventually led to a much larger vision for her company. Make sure the buyer has the cash.

Glenn Alto, CEO of CIS-US just completed a management buyout (MBO) of his company from the European owners after four years of effort. Play the hand carefully and wait for all the cards to be shown.

Richard Sumberg, founder of The Financial Advisors, who talked about how important it is for owners of small companies to do lifestyle planning (as well as financial planning) several years before they intend to sell. Understanding how your life will change is important.

Bob Glorioso, founder of Tower Stone Group and a serial entrepreneur, who discussed the many deals he has made in a range of industries and presented a summary of lessons learned on both sides of the table. Hire someone to represent you so you can be the bastard in the backroom.