What To Look For In An Advisor
When first-time sellers engage with an advisor, I find most have a common belief: “I hire them. They sell my business.” While this may be true on a basic level, the role of an advisor is much more complex. The right advisor doesn’t just sell your business, they shape the process and help you navigate […]
Preparing for a Sale (2–3 Years Out)
When should I start preparing my business for sale? This is a question we get a lot. The answer varies depending on specifics, but at minimum, we recommend starting 2–3 years in advance. Two to three years may seem like a long window, but in today’s newsletter, we’ll break down why the window makes sense… […]
Net Working Capital: The Secret to a Smooth Business Sale
By John Marsh While it may sound like an accounting concept, net working capital plays a direct role in how much cash a seller actually takes home at closing. It can lead to unexpected adjustments, last-minute negotiations, or friction between buyer and seller if not properly addressed early in the process. In this article, we’ll […]
How to Show Growth to Buyers
There’s a saying we often tell clients: “Strong financials get you in the game, visible growth moves the number.” Buyers are forward-looking. They’re trying to anticipate what comes next. This means the ability to clearly articulate a credible future – in addition to last year’s revenue or EBITDA. A strong growth story allows you to […]
How to Vet Potential Buyers
Who’s trying to buy my business? Are they serious, do they have the money, and should I trust them? These are questions that all sellers should be asking themselves before and during the sales process. Interest alone doesn’t mean much in M&A. Plenty of buyers will raise their hand and express enthusiasm. But not all […]
Your Exit Multiple Is Being Determined Right Now — Probably Earlier Than You Think
by Carl Nicpon Many business owners assume the value of their company is determined when the business goes to market. In reality, the multiple is shaped years earlier — before most owners start thinking about their exit. The operational decisions you make today influence how buyers will evaluate the business later: how dependent […]
The Mental Game of Selling a Business
Most owners plan for the practical mechanics of a business sale. Time and money are spent to align terms and logistics. However, owners often underestimate the emotions that accompany selling a business. There is a hidden emotional cost to every deal. It may not show up in the price, structure, or headline terms. But it […]
Rollover Equity Explained: Maximize Your Sale Proceeds
By John Marsh One of the most common structures in M&A deals is rollover equity. This is when a seller “rolls” a portion of their ownership into the new company instead of taking all cash at closing. In other words, they stay invested alongside the buyer, often to participate in a second, future exit. While […]
How to Get Leverage in A Deal
“You’re leaving money on the table.” It’s something we often say to business owners. Getting an offer for your business is exciting. That excitement makes it tempting to rush and move straight to the finish line. But without a proper process to evaluate offers and create a competitive market, many owners end up with less […]