Carl Allen Podcast on Sales Whisperer

Carl Allen Podcast on Sales Whisperer

Business Broker Benefits and Selection, Buyer, Deal Structure, Preparing to Sell Your Business
I listened to this Podcast with Carl Allen on https://www.thesaleswhisperer.com/blog/carl-allen-entrepreneur hosted by Wes Schaeffer. As always I enjoy Podcasts and conversations about buying and selling businesses. Some of this Podcast is great, and one all business owners should listen too and the reason I am recommending is that he is going to give you some rather harsh reality of selling your business. This Podcast was telling buyers how to take advantage of people selling their business. Reference point 1 – Carl Allen quotes a statistic there are 20 million business in North America and at any point, 2 Million are for sale, he claims roughly 1 in 13 sells. Wither it is higher or lower is always debatable, I would say he is drumming home the point though, most businesses…
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Tom Hannon – Featured On Built To Sell

Tom Hannon – Featured On Built To Sell

Advisors, Buyer, Deal Book, Deal Structure, Due Diligence, Factors Affecting Business Saleability, Preparing to Sell Your Business, Sale Process, Tax Implications of Selling a Business, Transition, Valuation, Why Sell
From the Built to Sell Podcast Description of the Show - Tom Hannon started FPD to create and distribute niche publications. He grew the company to $3M in revenue over 18 months, when a family illness prompted him to reach out to acquirers. His company was valued at $2.1M and received four offers, but he ended up walking away with $1.5M. Hannon candidly shares why he left money on the table, and what he would do differently if he had a re-do. In this episode, you’ll learn: • One trick the acquirer played on Hannon that dramatically devalued his business • How Hannon used a third-party valuation to keep the price as firm as possible • When not to overplay your hand in a negotiation with an acquirer One reason…
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7 things to do before signing a Letter of Intent

7 things to do before signing a Letter of Intent

Buyer, Sale Process, Transition
You may be years away from selling your business, but it’s never too early to understand what the process involves. If you have ever promised your child a treat in return for good behavior, you know all about negotiating leverage. When selling an attractive business, you also have leverage—but only up to the point where you sign a letter of intent (LOI), which almost always includes a “no shop” clause requiring you to terminate discussions with other potential buyers while your newfound “fiancé” does due diligence. After you sign the LOI, however, the balance of power in the negotiation swings heavily in favor of the buyer, who can then take their time investigating your company.  At the same time, with each passing day, you will likely become more psychologically committed to…
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Four Traps to Avoid When an Acquirer Comes Calling

Four Traps to Avoid When an Acquirer Comes Calling

Buyer, Deal Structure
You may be eager to sell your business, and happy to have an acquirer comes calling and is at your doorstep, but what’s it like when an acquirer starts looking inside every inch of your business? Most professional acquirers will have a checklist of questions – both objective and subjective – that they need answered before getting serious about buying your company. Examples of objective questions include: When does your lease expire and what are the terms? Do you have consistent, signed, up-to-date contracts with your customers and employees? Are your ideas, products and processes protected by patent or trademark? What kind of technology do you use, and are your software licenses up to date? What are the loan covenants on your credit agreements? How are your receivables? Do you…
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