Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 25 | Finding the Right Buyer

Link to video podcast episode: https://youtu.be/NftfxLebZj4

💼 Welcome to Boss Talk: Selling Businesses with Jim Parker and Carey Sobel! Learn about the world of business brokerage on this video podcast. These two powerhouse brokers talk real talk about how to sell and buy, and it's far, far deeper than balance sheets and financing. Let's dive in!

🎙️ In this episode of Boss Talk, Jim and Carey cover the crucial topic of 'Finding the Right Buyer' from a seller's perspective. They break down the key factors that influence choosing the ideal buyer into three categories: working with people you like, finding a buyer that offers the best chance to close, and identifying a buyer for the long term. Through real-world examples and personal experiences, they discuss how emotional attachment, cultural fit, communication styles, and financial qualifications play pivotal roles in the selling process.

Whether it's seller financing, equity rollover, or post-closing transitions, this episode offers invaluable insights for sellers looking to find not just any buyer, but the right one.

Stay tuned to the next series of Boos Talk, coming soon! 🎯

📌 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 @ListenToBossTalk Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction and Episode Overview 00:40 Choosing the Right Buyer: People You Like 01:47 Cultural Fit and Communication 06:12 Buyer-Seller Relationship Dynamics 13:05 Evaluating Buyer Experience and Financial Capability 22:28 Handling Multiple Offers and Buyer Behavior 23:35 Buyer Preparedness and Professionalism 24:03 Negotiation Strategies During Due Diligence 25:18 The Importance of Synergy Between Buyer and Seller 28:00 Understanding Equity Rollover 31:51 Seller's Perspective on Business Growth and Retirement 35:07 Finding the Right Buyer for Long-Term Success 40:41 Final Thoughts and Advice for Sellers

#bosstalk #sellingbusinesses #businesspodcast #businessbroker #bossgroup #businessowner #businesssales

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 24 | Red Flags That Can Cost You Your Business Sale

Link to video podcast episode: https://youtu.be/xVa98fYWNyo

Welcome to Boss Talk! In today's episode, Jim Parker and Carey Sobel dive deep into the red flags that could jeopardize your business sale. 🚩 From declining financial trends 📉 to financial inaccuracies, heavy owner dependency, and unrealistic seller expectations, this episode covers it all! 🚀 Learn the importance of having clean financials, minimizing customer concentration, maintaining up-to-date systems, and disclosing any legal or compliance issues. Whether you're looking to sell your business or buy one, this episode is packed with essential insights that you can't afford to miss. Tune in to avoid these pitfalls and make your business transaction smooth and successful! 🔑

📌 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 ⁨@ListenToBossTalk⁩ us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:45 Understanding Financial Red Flags 01:35 The Impact of Declining Financial Trends 03:56 Financial Inaccuracies and Their Consequences 05:09 The Importance of Business Financeability 07:43 Owner Financing: Pros and Cons 12:39 Seller's Motivation and Trustworthiness 17:32 Employee and Vendor Turnover 21:37 Client and Vendor Concentration Risks 27:07 Owner Dependency in Business 27:23 The Problem with Overworking 28:49 Interdependency and Relationships 32:04 Importance of Systems and Documentation 37:24 Legal and Compliance Issues 42:33 Competitor Threats and Industry Changes 51:01 Unrealistic Seller Expectations 53:50 Conclusion and Final Thoughts

#bosstalk #sellingbusinesses #businesspodcast #businessbroker #bossgroup #businessowner #businesssales

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 23 | When Is the Right Time to Sell My Business?

Video podcast link: https://youtu.be/JFs-CIaQfTY

Join Jim Parker and Carey Sobel in this eye-opening episode of Boss Talk as they tackle one of the most frequently asked questions by business owners: 'When is the right time to sell my business?' Timing is crucial and can determine whether you walk away with financial freedom or disappointment. They discuss key factors like personal readiness, financial preparedness, performance indicators, market cycles, and the challenges of predicting the best time to sell. With real-world examples and expert advice, this episode is packed with insights for any business owner considering their exit strategy. Don't miss it! 🏢💼📈

📌 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 ⁨@ListenToBossTalk⁩ Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:18 The Importance of Timing in Selling Your Business 00:58 Exit Planning as a Business Strategy 01:23 The Three Legs of the Stool: Personal Readiness 02:31 Recognizing Burnout and Loss of Passion 06:48 Financial Readiness: When Your Business is Gravy, Not Oxygen 10:13 Business Attractiveness: Indicators for Selling 15:44 Market Cycles and Economic Factors 25:52 The Hot Market for Home Services 26:51 The Importance of Exit Planning 27:51 The Role of Business Brokers 29:24 Preparing Your Business for Sale 40:28 Family Transitions in Business 47:22 When is the Right Time to Sell? 51:07 Conclusion and Key Takeaways

#bosstalk #sellingbusinesses #businesspodcast #businessbroker #bossgroup #businessowner #businesssales

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 22 | No Such Thing as a Clean Closing

Link to video podcast episode: https://youtu.be/czgB-1XnAhM

The Truth About Business Closings: There Is No Such Thing as a Clean Closing 🏢📉

🎙️ In this episode of Boss Talk, Jim Parker and Carey Sobel explore the complexities of closing business deals. They delve into why there's no such thing as a smooth, problem-free closing, discussing various issues that can arise from third-party assignments to emotional meltdowns and last-minute surprises. They also talk about how the process has changed due to technology and the importance of adaptability. With plenty of anecdotes and practical advice, this episode is a must-watch for anyone involved in business transactions. 🤝💼!

📌 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 @ListenToBossTalk Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:19 The Myth of a Clean Closing 00:40 Unexpected Obstacles in Transactions 02:51 The Role of Technology in Closings 05:41 Common Causes of Closing Delays 06:30 Third-Party Complications 16:01 Post-Closing Challenges 22:51 Handling Disputes and Post-Closing Adjustments 23:54 Merchant Services and Prorations 27:22 Transition Expectations and Employee Management 29:52 Leading Up to Closing: Documents and Emotions 37:31 Final Steps and Closing Realities

#bosstalk #sellingbusinesses #businesspodcast #businessbroker #bossgroup #businessowner #closing #businesssales #realestateclosing

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 21 | How to Be a Good Buyer

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

In this episode, learn how to stand out as a top buyer in a seller's market.

In this episode, learn how to stand out as a top buyer in a seller's market. Hosts Jim Parker and Carey Sobel discuss the challenges buyers face in a seller's market and how to stand out as a good buyer. With private equity groups on the rise and many corporate professionals looking to acquire businesses, it's essential to follow a respectful and organized approach. They emphasize the importance of having a strong bio, demonstrating financial capacity, and being clear about one's wants and needs. The episode also covers common pitfalls, such as unpreparedness and acting entitled, and offers actionable advice on being courteous, respectful, and transparent throughout the buying 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 ⁨@ListenToBossTalk⁩ Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:46 Understanding the Seller's Market 02:50 How to Stand Out as a Good Buyer 07:52 The Importance of Courtesy and Respect 13:06 Being Organized and Punctual 14:28 Introduction to Business Discussions 14:51 Understanding Seller's Motivation 15:50 Importance of Preparation and Response Time 16:21 Effective Buyer-Seller Communication 19:19 Transparency and Trust in Transactions 24:01 Pitfalls of Misrepresentation 29:17 Final Thoughts and Recommendations

#bosstalk #sellingbusinesses #businesspodcast #businesssales #podcast #bossgroup #businessfinance #businessowner #businessbroker #sellersmarket

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 20 | Deal Structure 101

Link to video podcast episode: https://youtu.be/NrRCfFWST6I

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

In this episode of Boss Talk, Jim Parker and Carey Sobel delve into the complexities of deal structure in business acquisitions. 💼🔍 They bust the myth that the purchase price is the only crucial factor, highlighting the importance of terms, buyer suitability, and negotiation points. The hosts break down asset sales vs. stock sales, discussing their pros and cons, tax implications, and scenarios where each is applicable. 📊 They also emphasize crucial negotiation elements such as seller financing, earn outs, rollover equity, and other non-price terms. If you're thinking about buying or selling a business, this episode is a must-watch for understanding the ins and outs of deal structure! 🚀

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 Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Deal Structure 101 01:22 Understanding Asset Sales vs. Stock Sales 02:41 Pros and Cons of Stock Sales 08:15 Pros and Cons of Asset Sales 09:52 Negotiation Points in Deal Structure 10:11 Non-Compete Agreements 14:03 Familiarization and Transition Periods 20:47 Asset Allocation and Tax Implications 23:04 Breaking Down the $5 Million Allocation 23:57 The Importance of Asset Allocation 26:47 Seller Financing Explained 29:13 The Risks of Seller Financing 33:50 Earnouts and Contingent Payments 38:27 Rollover Equity in Private Equity Deals 41:49 Key Negotiation Points in Deal Structuring 44:38 Conclusion and Final Thoughts

#bosstalk #sellingbusinesses #businesspodcast #businesssales #podcast #bossgroup #businessfinance #businessowner #businessbroker #stocksale #assetsale

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 19 | The Emotional Aspects of Selling Your Business

Link to video podcast episode: https://youtu.be/q5YrNKTMi9k

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

In this episode of Boss Talk, hosts Jim Parker and Carey Sobel dive into the important but often overlooked emotional aspects of selling a business. They discuss the deep personal connections business owners have with their companies, the emotional highs and lows throughout the sales process, and the impact on decision-making. The script explores the importance of being prepared emotionally, having a support system, and planning for life post-sale. Personal stories and real-life examples highlight the significance of managing emotions and handling transitions effectively. An essential watch for anyone considering selling their business.

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 @ListenToBossTalk Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:16 The Emotional Journey of Selling a Business 01:17 Building Relationships with Clients 03:19 The Personal Connection to a Business 07:23 Preparing for Life After Selling 08:11 The Emotional Rollercoaster of Selling 12:47 The Importance of Having a Plan 16:21 Risks of Not Selling in Time 18:13 Real-Life Stories and Lessons 20:47 A Heartfelt Business Deal 21:26 Unexpected Challenges and Triumphs 22:25 The Importance of Succession Planning 24:18 Handling Emotional Aspects of Selling a Business 29:48 Buyer's Perspective and Emotional Journey 35:27 The Emotional Rollercoaster of Closing a Deal 37:41 Final Thoughts and Apologies

#bosstalk #sellingbusinesses #businesspodcast #businesssales #podcast #bossgroup #businessfinance #businessowner

Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 18 | Financials: The Cornerstone of Selling Your Business

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

In this episode of Boss Talk, hosts Jim Parker and Carey Sobel delve into the critical role of financials when selling a business. They emphasize that organized and accurate financial statements are crucial from the initial listing to the final closing. Topics include the importance of clean financial records, how personal and one-time expenses impact the valuation, and the differences between EBITDA and discretionary earnings. They also discuss variable vs. fixed expenses, seasonality, and why only seasoned business brokers or business appraisers should conduct business valuations. Join Jim and Carey as they share insights from their years of combined experience to help you maximize your business's sale price and secure the best terms possible!

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 on YouTube for the latest from Boss Talk: Selling Businesses with Jim Parker and Carey Sobel @ListenToBossTalk Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:14 The Importance of Financials in Selling Your Business 00:40 Organizing Financials for Business Sale 01:35 Common Financial Pitfalls and Solutions 05:21 Understanding Financial Statements 10:57 Cash vs. Accrual Accounting 15:30 Recasting and Normalizing Financials 19:46 Personal Expenses and Add-Backs 24:15 Distributions and Net Operating Income 25:34 Understanding Net Profit and Distributions 26:10 Capitalizing vs. Expensing Assets 27:04 Depreciation and Equipment Purchases 29:08 Interest Expense and EBITDA 29:58 Owner's Salary and Discretionary Earnings 38:10 Variable vs. Fixed Expenses 39:44 Seasonality and Financial Trends 45:58 Importance of Accurate Financials 49:14 Conclusion: The Critical Role of Financials in Business Sales

#bosstalk #sellingbusinesses #businesspodcast #businesssales #podcast #bossgroup #businessfinance #businessowner

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

Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 16 | Game Plan: Assembling Your Business Sales Team - Part 2

Link to video podcast episode: https://youtu.be/PaIM8hNDUvw

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

In this episode, Jim and Carey continue the discussion that they started in episode 14: the essential components of assembling a team to successfully sell your business. The pair emphasize the critical roles of CPAs, attorneys, and business brokers, discussing their importance during the sale process. The conversation covers key points such as the necessity of involving a CPA from the early stages, the need for specialized attorneys in M&As, and the advantages of leveraging experienced business brokers. Additionally, they highlight the relevance of bankers, lenders, and other specialists depending on the business's nature.

The episode underscores the importance of professional guidance to maximize the selling price and achieve the best terms, ensuring a smooth transaction process. Tune in for extensive insights into building an effective business sale team. For more on this topic, catch episode 14.

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. Find out more at https://www.bossgi.com

Catch up on past episodes and subscribe on YouTube for the latest from Boss Talk: https://youtube.com/@ListenToBossTalk

Leave us a comment, like, and share! We welcome your feedback! Let us know if there is a topic that's on your mind, and if you would like us to cover it in a future episode.

00:00 Welcome to Boss Talk

00:18 Assembling Your Business Sales Team

00:32 The Crucial Role of a CPA

10:53 Engaging with Attorneys

24:08 The Importance of a Banker or Lender

27:52 Specialists and Advisors

29:44 The Role of a Confidant

34:10 The Value of a Business Broker

37:29 Conclusion and Final Thoughts

#businesspodcast #BossTalk #sellingbusinesses #businesssales #salesteam #BossGroup