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Episode 136 - Hard Truths About Selling a Business - The Acquisition Chronicles Series
Manage episode 457262061 series 3256001
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In this episode of Unpolished MBA, we continue the Acquisition Chronicles series to uncover the realities of small business acquisitions. Monique Mills is joined by guest co-hosts Jed Morris and Kinza Azmat to share stories, insights, and lessons from the trenches of Entrepreneurship Through Acquisition (ETA).
Selling a small business is no small feat, and many owners face the harsh reality that their business isn’t ready for the market.
In this insightful episode, discussion revolves around the Seller's challenges of overall difficulties of selling businesses with Mike Finger of Exit Oasis. They discuss the pitfalls of unrealistic expectations, the role of brokers, and how owners can take intentional steps toward creating a sellable business. Mike’s candid stories and practical advice offer a much-needed perspective for both aspiring sellers and business buyers.
Key Takeaways:
- The importance of creating a sellable business, even if you’re not ready to sell yet.
- Why “two times revenue” is often a myth when it comes to valuations.
- The vital questions every business owner must answer: Are my results desirable? Can they be duplicated? Are they documented?
- How the lack of alignment between buyers and sellers leads to deal failures.
- The emotional challenges sellers face and the critical role brokers play in managing expectations.
Whether you’re a buyer, seller, or just curious about small business acquisitions /Entrepreneurship Through Acquisition (ETA), this episode offers valuable insights to help you navigate the journey with confidence.
- Tune in every Tuesday from Dec 3 2024 through Feb 25, 2025 for real stories and hard lessons from the trenches of small business acquisitions.
Follow Monique Mills
LinkedIn: https://www.linkedin.com/in/moniquemills/
Bio Website: https://moniquemills.biz/
TPM Focus - Strategy Firm for Startups and SMBs: https://tpmfocus.com/
Follow today's guest: Mike Finger
Company --> Exit Oasis https://exitoasis.com/
LinkedIn --> https://www.linkedin.com/in/mike-finger/
Guest Co-Hosts:
Follow Kinza Azmat
Company --> thechiefrebel.com
Book --> https://www.thechiefrebel.com/book
LinkedIn --> https://www.linkedin.com/in/kinzaazmat/
Follow Jed Morris
Company --> Sunset Coast Partners
LinkedIn --> https://www.linkedin.com/in/jedmorris/
Newsletter --> https://stillsearching.beehiiv.com/subscribe
Become an Unpolished MBA Guest: https://unpolishedmba.com
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