Shows
Steps to Sold: The Ultimate Business Sale PodcastNegotiation Strategies That Close More Deals – How to Handle Tough NegotiationsSummaryIn this episode of the Steps to Soul podcast, Brandon Bourgeois and Chris Sater delve into the intricacies of negotiation strategies in business sales. They discuss the emotional dynamics involved, the common pitfalls that can derail deals, and the importance of building trust and relationships between buyers and sellers. The conversation emphasizes the need for preparation, understanding motivations, and knowing when to walk away from a deal. Through anecdotes and insights, they provide valuable guidance for navigating the complex world of business negotiations. In this conversation, Brandon Bourgeois and Chris Sater discuss effective negotiation strategies...2025-05-0850 minSteps to Sold: The Ultimate Business Sale PodcastWhat Good Buyers Do Differently with Special Guest George WellmerSummaryIn this episode of the Step to Sold podcast, Brandon Bourgeois and Chris Sater engage with George Welmer, founder and CEO of Tupelo, to explore the intricacies of buying businesses. They discuss the challenges buyers face in a competitive market, the importance of understanding the market landscape, and the steps buyers should take to prepare for inquiries. The conversation highlights the significance of crafting effective inquiries, recognizing red flags in buyer behavior, and navigating the due diligence process. Additionally, they delve into the realities of business valuation and the necessity of financial preparedness for prospective buyers...2025-05-0149 minSteps to Sold: The Ultimate Business Sale PodcastMajor SBA SOP Changes with Special Guest Huy Tran from Byline BankSummaryIn this episode of the Steps To Sold podcast, Brandon Bourgeois and Chris Sater discuss significant changes to the SBA Standard Operating Procedures (SOP) with guest Huy Tran from Byline Bank. The conversation covers the importance of SOPs in guiding SBA lenders, the impact of recent changes on business acquisitions, and the implications for buyers and sellers. Key topics include partial buyouts, seller guarantees, down payment requirements, and the need for buyers to demonstrate financial commitment. The episode also addresses the rising default rates in SBA lending and offers practical tips for navigating the...2025-04-2549 minSteps to Sold: The Ultimate Business Sale PodcastHow to Find the Right Business to BuySummaryIn this episode of the Steps of Sold podcast, Brandon Bourgeois and Chris Sater discuss the essential steps and considerations for individuals looking to buy a business. They emphasize the importance of defining personal financial goals, understanding the key criteria for evaluating potential businesses, and avoiding common pitfalls in the acquisition process. The conversation also highlights the significance of operational fit and the role of a broker in facilitating successful transactions. Listeners are encouraged to create a buyer profile and approach the business buying process with clarity and preparation.Takeaways2025-04-2234 minSteps to Sold: The Ultimate Business Sale PodcastUnderstanding Business Valuations: What Really Drives Value?SummaryIn this episode of the Steps To Sold podcast, hosts Brandon Bourgeois and Chris Sater delve into the complexities of business valuations. They discuss the various methods of valuation, the importance of financial preparation, and the impact of risk factors on a business's worth. Through real-life examples, they illustrate how different metrics like SDE and EBITDA are used in valuations and emphasize the need for accurate financial reporting to achieve a fair market price. The conversation highlights the significance of understanding one's business value before entering the market, as well as the nuances that can affect a...2025-04-1735 minSteps to Sold: The Ultimate Business Sale PodcastThe Role of Due Diligence What to Expect & How to PrepareSummaryIn this episode of the Steps to Soul podcast, Brandon Bourgeois and Chris Sater delve into the critical process of due diligence in buying and selling businesses. They discuss the importance of thorough preparation, the roles of external advisors, and the necessity of building trust between buyers and sellers. The conversation covers various phases of due diligence, including document review, operational assessments, and market analysis, while highlighting common pitfalls and the significance of transparency. The hosts emphasize the value of a Quality of Earnings analysis and the essential role brokers play in facilitating smooth...2025-04-1131 minSteps to Sold: The Ultimate Business Sale PodcastCommon Pitfalls When Selling a Business (And How to Avoid Them)SummaryIn this episode of the Steps to Soul podcast, hosts Brandon Bourgeois and Chris Sater discuss the common pitfalls when selling a business and how to avoid them. They cover key topics such as overestimating business value, the importance of clean financial documentation, the risks of relying on a single buyer, the necessity of involving key employees in the sale process, and the impact of time on closing deals. The conversation emphasizes the need for proper preparation and realistic expectations to ensure a successful business sale. Takeaways2025-04-0330 minSteps to Sold: The Ultimate Business Sale PodcastThe Shortfalls of AI in Business ValuationsSummaryIn this episode of the Steps To Solve podcast, hosts Brandon Bourgeois and Chris Sater discuss the growing trend of using AI for business valuations. They explore the limitations of AI, emphasizing the importance of human insight in understanding the nuances of business value. Key topics include the significance of goodwill, financial adjustments, owner involvement, market dynamics, and the human element in valuation processes. The conversation highlights the risks of relying solely on AI for accurate business valuations and stresses the need for professional guidance.TakeawaysAI can quickly...2025-03-2919 minSteps to Sold: The Ultimate Business Sale PodcastFinancing For Business SalesSummaryIn this episode of the Steps to Sells podcast, Brandon Bourgeois and Chris Sater delve into the complexities of financing business sales. They discuss various financing options, including conventional bank loans, seller financing, and SBA loans, highlighting the challenges and benefits of each. The conversation emphasizes the importance of understanding collateral requirements, the role of seller financing in deal structures, and the transformative potential of SBA financing for small business owners. The hosts provide insights into how these financing methods can impact both buyers and sellers in the business acquisition process. In this conversation...2025-03-1532 minSteps to Sold: The Ultimate Business Sale PodcastThe Valuation MultiplesSummaryIn this conversation, Chris Sater and Brandon Bourgeois discuss the intricacies of business valuation, focusing on the concept of multiples. They explore how to set expectations for sellers, the importance of financial metrics like EBITDA and SDE, and the impact of industry standards and economic conditions on business valuations. The discussion also highlights common pitfalls in the valuation process and emphasizes the need for clean financial records and strong operational systems to enhance business value. Ultimately, they stress the importance of understanding market dynamics and preparing businesses for sale.Takeaways2025-02-2725 min