How Long Will It Take To Sell My Business? Boss Talk: Selling Businesses With Jim Parker & Carey Sobel podcast

Boss Talk: Selling Businesses with Jim Parker & Carey Sobel

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All About Change

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Chris Nowinski - Protecting Athletes from Head Injuries & Preventing CTE 27:28

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Chris Nowinski is a former football player at Harvard University and professional wrestler with WWE, World Wrestling Entertainment. After enduring a career-ending head injury, Chris has dedicated his professional life to serving patients and families affected by brain trauma, particularly Chronic traumatic encephalopathy, or CTE, a progressive neurodegenerative disease that develops after repeated head injuries. Jay and Chris discuss the state of head injuries in American athletics, the difference between advocating for head safety at youth and professional levels, Chris’ newest research, and much more. Episode Chapters (00:00) Intro (00:50) changes in the culture around concussions in the past two decades (02:39) padded helmet technology (03:55) concussion reporting in the NFL (10:35) Chris’ career path and concussion history (14:52) connecting with activists who haven’t themselves suffered a traumatic brain injury (17:42) SHAAKE - a new sign to identify concussions (20:53) Unions can help players advocate for safety policies (23:10) final thoughts and goodbye For video episodes, watch on www.youtube.com/@therudermanfamilyfoundation Stay in touch: X: @JayRuderman | @RudermanFdn LinkedIn: Jay Ruderman | Ruderman Family Foundation Instagram: All About Change Podcast | Ruderman Family Foundation To learn more about the podcast, visit https://allaboutchangepodcast.com/…

Boss Talk: Selling Businesses with Jim Parker & Carey Sobel »
How Long Will It Take to Sell My Business?

약 1년 전 36:55

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Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 17 | How Long Will It Take to Sell My Business?

Link to video podcast episode: https://youtu.be/-U1lHOi15tg

Welcome back to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel!

In this episode of Boss Talk, Jim and Carey discuss why there is no definitive answer to how long it will take to sell a business due to the myriad of variables involved. The two seasoned brokers elaborate on the importance of preparation, the critical first 30 days on the market, and how hiring professionals can expedite the process. They also examine factors such as good financials, owner involvement, client concentration, and key employees that can influence the sale speed. Additionally, they discuss potential uncontrollable elements like landlords, lenders, legal issues, and contract assignments that could slow down the sale. Whether you're planning to sell your business soon or just exploring your options, this episode offers valuable insights on streamlining the business sale process.

Business owners, if this content resonated with you, feel free to contact Boss Group International for any inquiries or to get started with a Broker’s Opinion of Value. We're here to serve you and ensure your business goals are met with excellence.

For more information on selling your business, visit https://www.bossgi.com

Subscribe for the latest from Boss Talk: Selling Businesses with Jim Parker and Carey Sobel on YouTube @ListenToBossTalk

00:00 Introduction to Boss Talk

00:18 How Long Will It Take to Sell My Business?

01:02 The Importance of Preparation

02:02 Critical First 30 Days on the Market

05:03 Engaging Buyers and Receiving Offers

07:37 Common Pitfalls and Missteps

13:13 Timetables and Due Diligence

20:37 Factors Affecting the Sale Process

25:36 Uncontrollable Factors and Delays

34:41 Final Thoughts and Advice

36:44 Conclusion

#businesspodcast #bosstalk #sellingbusinesses #businesssales #podcast

17 에피소드

#MBA #Entrepreneur #Business #Boss Group International

Boss Talk: Selling Businesses with Jim Parker & Carey Sobel

How Long Will It Take to Sell My Business?

Boss Talk: Selling Businesses with Jim Parker & Carey Sobel

published 약 1년 전

MP3•에피소드 홈

Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 17 | How Long Will It Take to Sell My Business?

Link to video podcast episode: https://youtu.be/-U1lHOi15tg

Welcome back to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel!

For more information on selling your business, visit https://www.bossgi.com

Subscribe for the latest from Boss Talk: Selling Businesses with Jim Parker and Carey Sobel on YouTube @ListenToBossTalk

00:00 Introduction to Boss Talk

00:18 How Long Will It Take to Sell My Business?

01:02 The Importance of Preparation

02:02 Critical First 30 Days on the Market

05:03 Engaging Buyers and Receiving Offers

07:37 Common Pitfalls and Missteps

13:13 Timetables and Due Diligence

20:37 Factors Affecting the Sale Process

25:36 Uncontrollable Factors and Delays

34:41 Final Thoughts and Advice

36:44 Conclusion

#businesspodcast #bosstalk #sellingbusinesses #businesssales #podcast

17 에피소드

#MBA #Entrepreneur #Business #Boss Group International

모든 에피소드

LINK TO YOUTUBE: https://www.youtube.com/@ListenToBossTalk WEBSITE: https://www.bossgi.com/ RELEASE DATE: April 4, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel - EP 4 | All About Pricing a Business In this episode of Boss Talk, hosts Jim Parker and Carey Sobel delve into the nuances of pricing a business for sale. They discuss the importance of proper pricing, emphasizing that it's the most critical aspect in the sales process. Overpricing can hinder the sale, while underpricing leaves money on the table. The episode covers various aspects including the role of brokers and business appraisers in pricing, the significance of understanding the 'why' behind pricing, and the relevance of accurate financial reporting, including discretionary earnings and EBITDA. They also discuss the impact of factors like customer concentration, lease terms, and owner involvement on the multiplier used to price a business. The hosts stress the importance of working with experienced brokers to ensure a business is priced accurately, considering all variables and market data. 00:00 Welcome to Boss Talk: Navigating Business Sales 00:15 The Art of Pricing a Business for Sale 00:43 Why Pricing Matters: The Seller's Perspective 02:40 The Role of Brokers and Appraisers in Business Valuation 03:49 CPAs and Their Impact on Business Valuation 11:32 Unpacking Discretionary Earnings and Add Backs 21:46 Exploring Depreciation, Amortization, and Other Add Backs 26:57 Understanding Owner's Salary in Business Valuation 29:29 Understanding Business Valuation: Owner's Salary and Discretionary Earnings 30:38 The Role of EBITDA in Business Sales 31:43 Adjusting EBITDA and Discretionary Earnings for Business Valuation 34:10 Comparing EBITDA and Discretionary Earnings: A Practical Example 37:00 Factors Influencing Business Multipliers 47:08 Analyzing Financial Statements for Business Valuation 57:01 The Importance of Clean Financial Records When Selling Your Business BLOG: All About Pricing a Business: Insights from EP. 4 Intro to Business Valuation In the competitive landscape of businesses for sale, determining the right price for a business can often seem more like art than science. However, seasoned brokers, Jim Parker and Carey Sobel, host of the informative podcast series "Boss Talk," delved into this complex subject, shedding light on the crucial aspects of pricing a business accurately. Why Pricing Matters The episode kicked off with a fundamental question: "Why is pricing a business for sale so crucial yet contentious?" The simple answer lies in balance. Price it too high, and the business might never sell, stagnating on the market. Price it too low, and you're leaving money on the table, potentially undermining years of hard work. Jim and Carey punch home the point that the right price is not just a number—it's the most critical part of the sale process. It represents a delicate equilibrium between a seller wanting to maximize returns and a buyer wanting value for their investment. The "How" of Pricing The real meat of the discussion focused on how to price a business for sale. Jim and Carey broke down the numerous methods used to evaluate a business, from market comparisons to income approaches. However, they emphasized that ultimately, a business is worth what someone is willing to pay for it. This notion translates to understanding the market and utilizing different pricing methods as tools to suggest a starting point, rather than definitive answers. The Importance of the Broker's Role A significant portion of the talk spotlighted the role of "brokers and business appraisers" in the pricing process. With their experience and understanding of the market, brokers - like Jim and Carey - perform a Broker's Opinion of Value (BOV), setting the stage for what a business could potentially sell. They clarified that such opinions are grounded in data, including market stats and comparable sales, offering a personalized assessment based on the business's unique attributes and industry benchmarks. Common Pitfalls and Advice Jim and Carey also ventured into common pitfalls in business valuation, such as overvaluation by CPAs or underreporting income. They strongly advised against these practices, underlining the importance of clean, transparent financials for securing a fair valuation and a smooth sale process. In discussing "add-backs," a crucial component in business valuations, they provided tangible examples, like the one-time expenditure on a luxurious waiting area in “Carrie’s Car Wash.” These are legitimate adjustments to a business’s earnings that can significantly impact its sales price, highlighting the intricacies involved in accurately pricing a business. Conclusion: A Blend of Multiple Factors Wrapping up, the episode of "Boss Talk" made it clear that pricing a business for sale is a nuanced process that requires a blend of art, science, and a deep understanding of the business landscape. It’s a process that benefits significantly from the guidance of experienced brokers who can navigate the complexities, tailor the approach to each unique business, and avoid the common pitfalls that might hinder a sale. In the world of business sales, knowledge, strategy, and the right partnership can make all the difference, opening the door to successful transitions for both sellers and buyers alike. TOPIC KEYWORDS: Boss Talk, Jim Parker, Carey Sobel, selling businesses, pricing, Broker's Opinion of Value, add-backs…

Boss Talk: Selling Businesses with Jim Parker & Carey Sobel

1
What Buyers Look For in a Good Business 49:33

50 weeks 전49:33

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49:33

LINK TO YOUTUBE: https://www.youtube.com/@ListenToBossTalk WEBSITE: https://www.bossgi.com/ RELEASE DATE: March 21, 2024 SHOW NOTES: Boss Talk EP 3: What Buyers Look For in a Good Business In episode three of the 'Boss Talk' podcast, hosts Jim Parker and Carey Sobel delve into the subjective nature of what makes a business "good" from a buyer's perspective. They discuss how the motivations of buyers vary—ranging from individuals seeking to buy a job to large private equity groups looking for strategic acquisitions. Despite these differences, there are universal aspects buyers seek, such as financial stability, appropriate pricing, and the potential for growth. The episode covers critical topics like business valuation, the importance of financials, pricing strategies, the role of business continuity, and the ideal attributes of a sellable business. It also touches on the impact of the owner's involvement, the staff's skills and stability, customer base diversity, and the underlying opportunities for business growth. Additionally, Jim and Carey emphasize the significance of the seller's character, business history, infrastructure, and growth potential in defining a good business in the eyes of potential buyers. 00:00 Welcome to Boss Talk: Understanding What Buyers Look for in a Business 01:00 Diving Deep into Financial Stability and Business Valuation 09:44 The Importance of Business Continuity and Owner Involvement 13:34 Building a Skilled Workforce and Preparing for Sale 20:20 Navigating Client Concentration and Enhancing Business Appeal 27:21 Unlocking the Power of Recurring Revenue in Business Sales 27:59 The Importance of a Loyal Customer Base 29:02 The Seller's Character: A Key Factor in Business Transactions 31:55 The Role of Business Tenure and Owner Motivation in Sales 33:37 Growth Potential: The Driving Force Behind Business Acquisitions 38:01 Industry Stability and the Impact of External Factors 41:42 Evaluating a Business: Reputation, Culture, and Facilities 48:19 Preparing Your Business for Sale: Insights for Sellers BLOG What Buyers Look for in a Good Business: Insights from Boss Talk Ep. 3 When it comes to buying and selling businesses, understanding what catches a buyer's eye can greatly influence the sale process. In this episode of Boss Talk, Jim Parker alongside Cary Sobel delves deep into what defines a 'good' business from a buyer's perspective. The subjectivity of 'goodness,' how it varies across different buyers, and universal signs of a solid business foundation are uncovered through their expert insights. The Subjectivity of 'Good' in Business First and foremost, the term 'good' is inherently subjective. What one buyer might consider a lucrative investment, another might disregard due to different expectations or strategic fit. Buyers could range from individuals seeking employment through business ownership to large equity groups looking for a strategic acquisition. Regardless of these differences, some universal criteria tend to stand out. Key Criteria 1. **Financial Stability**: The most glaring indicator of a good business is its financial health. Buyers want assurance that the business they are investing in has a solid financial foundation. This encompasses more than just profitability; it includes pricing strategies, business valuation (like SDE and EBITDA), and a clear understanding of the business's financials. 2. **Price versus Value**: A business needs to be priced correctly. Overpricing is a common reason why businesses stay on the market unsold. Buyers critically evaluate the asking price against EBITDA or discretionary earnings number. If the figures don't align, interest wanes quickly. 3. **Growth and Trends**: Buyers look for signs of stability and growth. A business showing consistent upward trends entices buyers more than a business with stagnation or erratic spike. Moreover, the backstory explaining these trends (for instance, historical performance during recession periods or sharp growth due to an unusual event) is equally important. 4. **Business Continuity and Ownership Role**: Buyers are cautious about businesses heavily dependent on their current owner for daily operations. Businesses with well-documented processes, where the owner plays a managerial rather than operational role, are more attractive. 5. **Skilled Workforce and Employee Retention**: Having a team that can run the business efficiently without the old owner is a positive sign. High turnover rates can be a warning sign, whereas a stable, skilled workforce adds value to the business. 6. **Client and Revenue Base**: A diverse client base with no single client contributing a significant chunk of revenue reduces risk for the buyer. Recurring revenue models are particularly attractive as they predict future earnings more reliably. 7. **Scalability and Growth Potential**: The ability to grow the business post-acquisition is crucial. Buyers evaluate the existing market, competition, and internal business processes to gauge scalability. 8. **Sellers’ Integrity and Business Reputation**: The integrity, honesty, and reputation of the seller can significantly affect the sale. Buyers prefer dealing with trustworthy sellers, as the transition involves many leaps of faith. 9. **Industry Stability and Future Proofing**: A business resilient to recessions and technological disruptions (like ecommerce or automation replacing manual services) stands out. Buyers want businesses that have a foreseeable future in their current industry. Takeaways for Sellers Understanding what buyers are looking for can greatly help in preparing your business for sale. Whether it's fine-tuning your business's financials, documenting processes, diversifying your client base, or simply improving your business's online reviews and reputation, these elements can significantly influence a buyer's decision. For sellers, the key takeaway is to view their business through a buyer's lens. It could involve strategic adjustments or simply highlighting the strengths already present. Ultimately, the goal is to showcase a business that not only looks attractive on paper but is genuinely poised for success under new ownership. By focusing on these criteria, sellers can significantly improve their prospects in the competitive market of business sales, ensuring that their offer stands out to potential buyers as a 'good' and solid investment. PODCAST TOPIC KEYWORDS: Boss Talk, Jim Parker, Carey Sobel, Good Business, Buyer, Seller,…

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Boss Talk: Selling Businesses with Jim Parker & Carey Sobel »
How Long Will It Take to Sell My Business?

How Long Will It Take to Sell My Business?

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Boss Talk: Selling Businesses with Jim Parker & Carey Sobel » How Long Will It Take to Sell My Business?

How Long Will It Take to Sell My Business?

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Boss Talk: Selling Businesses with Jim Parker & Carey Sobel »
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