Shows
Steps to Sold: The Ultimate Business Sale PodcastPost-Sale Regret: How to Exit on Your Terms Without Looking BackSummaryIn this episode of the Steps to Sold podcast, Brandon Bourgeois and Chris Sater discuss the often overlooked aspects of selling a business, particularly focusing on post-sale regret. They explore the emotional and financial implications of selling, the importance of pre-sale planning, and the need for clear communication with family and employees. The conversation emphasizes the necessity of having a solid exit strategy, understanding deal structures, and preparing for life after the sale to minimize regret and ensure a smooth transition.TakeawaysPost-sale regret often stems from emotional disconnect and identity loss....2025-07-2937 minSteps to Sold: The Ultimate Business Sale PodcastWhy You Should Buy an Existing Business vs. Starting One From ScratchSummaryIn this episode of the Steps to Sold podcast, Brandon Bourgeois and Chris Sater discuss the advantages of buying an existing business over starting one from scratch. They explore various themes including immediate cash flow, proven products, established systems, trained teams, financing options, the importance of location, challenges of due diligence, cultural fit, and the commitment required for business ownership. The conversation emphasizes the benefits of leveraging existing resources and knowledge to achieve entrepreneurial success while also addressing the potential struggles and responsibilities that come with owning a business.TakeawaysBuying an existing...2025-07-2638 minSteps to Sold: The Ultimate Business Sale PodcastThe 5 Most Valuable Things in Your Business (That You’re Probably Undervaluing)SummaryIn this episode, Brandon Bourgeois and Chris Sater discuss the five most undervalued assets in business that owners often overlook. They explore the importance of documented systems, a strong team, customer base quality, digital reputation, and the pitfalls of overvalued assets like improvements and inventory. The conversation emphasizes the need for business owners to recognize and enhance these undervalued aspects to increase their business's market value and appeal to potential buyers.TakeawaysRevenue is not the most important value of a business.Buyers prioritize repeatability, transferability, and scalability.Documented systems and...2025-07-1150 min
Steps to Sold: The Ultimate Business Sale PodcastSigns It’s Time to Sell Your Business – Recognizing the Right Moment Before It PassesSummaryIn this episode of the Steps To Sold Podcast, hosts Brandon Bourgeois and Chris Sater discuss the critical signs that indicate when it's time to sell a business. They explore common myths surrounding business sales, the importance of preparation, and the impact of family dynamics on succession planning. Through real-world stories, they highlight the consequences of waiting too long to sell and emphasize the need for proactive strategies to maximize business value. The conversation also covers the significance of understanding business valuation and the role of timing in the selling process, ultimately encouraging business owners...2025-07-0336 min
Steps to Sold: The Ultimate Business Sale PodcastFrom LOI to Close: What Really Happens Behind the ScenesSummaryIn this episode of the Steps to Sold podcast, Brandon Bourgeois and Chris Sater delve into the intricate process of transitioning from a Letter of Intent (LOI) to closing a business deal. They discuss the common misconceptions surrounding LOIs, the importance of timelines, and the critical role of due diligence. The hosts emphasize the necessity of involving the right professionals, such as accountants and attorneys, and the significance of preparation in ensuring a smooth transaction. They also highlight the emotional aspects of the process and the broker's role in managing expectations and keeping the deal on track...2025-06-1952 minSteps to Sold: The Ultimate Business Sale PodcastSame Business Different Deal - How Buyer Type Shapes the StructureSummaryIn this episode of the Steps To Sold Podcast, Brandon Bourgeois and Chris Sater discuss how different buyer types influence the structure of business transactions. They explore the importance of fit beyond just price, the distinctions between asset and stock purchases, and the unique challenges faced by individual buyers. The conversation also highlights the advantages of strategic buyers and private equity firms, emphasizing the need for sellers to understand the complexities of deal structures and financing options. In this conversation, Brandon Bourgeois and Chris Sater delve into the intricacies of selling a business, focusing...2025-06-1342 minSteps to Sold: The Ultimate Business Sale PodcastThe State of the Market – Selling Your Business in 2025SummaryIn this podcast episode, Brandon Bourgeois and Chris Sater discuss the current state of the market for selling businesses in 2025. They explore key trends, including inventory challenges, buyer behavior, financing options, and the importance of scalability for business growth. The conversation highlights the uncertainty in the market and how it affects both sellers and buyers, emphasizing the need for preparation and adaptability in deal structures. In this conversation, Brandon Bourgeois and Chris Sater discuss the current state of the business market, focusing on financing challenges, seller sentiment, and the importance of preparation for potential...2025-06-0640 minSteps to Sold: The Ultimate Business Sale PodcastOrganizational Mistakes That Can Derail a SaleSummaryIn this episode of the Steps To Sold podcast, Brandon Bourgeois, Chris Sater and guest Nathan Hamaker discuss the organizational mistakes that can derail a sale. They explore common financial missteps, the importance of clean bookkeeping, and the implications of different business structures on sales. The conversation delves into the differences between cash and accrual accounting, the advantages of stock sales versus asset sales, and when business owners should consider reorganizing before a sale. The episode emphasizes the need for proper planning and understanding of financial practices to maximize business value during a sale. In...2025-05-2944 minSteps to Sold: The Ultimate Business Sale PodcastThe Deal Behind the Deal: What You’re Really Agreeing to With a Seller NoteSummaryIn this conversation, Brandon Bourgeois and Chris Sater delve into the intricacies of seller financing, emphasizing its importance in business acquisitions. They discuss the role of seller notes, how to structure them effectively, and the ongoing relationship between buyers and sellers post-sale. The conversation also addresses common misconceptions about seller financing and the legal considerations that must be taken into account to protect both parties involved in the transaction. In this episode, Brandon Bourgeois and Chris Sater delve into the intricacies of seller financing, emphasizing the importance of personal guarantees, the risks associated with seller notes, and...2025-05-2340 minSteps to Sold: The Ultimate Business Sale PodcastNegotiation Strategies That Close More Deals – How to Handle Tough NegotiationsSummaryIn this episode of the Steps to Sold 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