What happens when a business owner believes their company is worth $1.4 million… but the numbers say $250,000?

In this episode of Innovative Insights, Steve Denny and Terry Lammers unpack a real-world valuation gone wrong involving a small fire apparatus company in Northern Illinois. From selective financials and inflated cap rates to unrealistic retirement expectations, they break down how one bad valuation can make a business completely unsellable.

You’ll learn:

• Why overvaluing a business destroys sellability
• The difference between income, market, and asset approaches
• How the Bankability Method protects both buyers and sellers
• The dangers of relying on your “best year”
• Why timing your exit matters more than you think

If you’re planning to sell your business — or buy one — this episode could save you years of frustration and hundreds of thousands of dollars.

Because in M&A, price matters… but reality matters more.

Welcome to the very first episode of Innovative Insights, the podcast from Innovative Business Advisors, hosted by Steve Denny and co-hosted by Terry Lammers.

In this kickoff episode, Steve and Terry break down a recent real-world transaction that nearly fell apart — and reveal the costly mistakes business owners make when they don’t use experienced deal professionals.

You’ll hear firsthand how:

• Hiring the wrong attorney almost derailed a multi-generation business sale
• A breach of confidentiality created chaos inside the company
• Inexperienced professionals added unnecessary costs and delays
• “Time kills deals” proved to be more than just a saying
• The right transaction team protects both value and peace of mind

If you’re thinking about selling your business — or even preparing for it years in advance — this episode delivers practical insights on how to protect your deal, your value, and your legacy.

This is essential listening for business owners who want to grow smarter, plan strategically, and prepare for what’s next.