An LOI, or Letter of Intent, is a written document that outlines the basic terms under which a buyer proposes to acquire your business. It typically comes after initial conversations and early indications of interest, but before a definitive purchase agreement.

Importantly, an LOI is not the sale of your business. It is a framework that allows both sides to agree on major points—price, structure, timing—so the buyer can justify entering formal due diligence. While parts of the LOI may be binding, the transaction itself is not finalized at this stage.

Understanding this distinction is critical. Many founders either overestimate the security of an LOI or underestimate the constraints it creates once signed.

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As you move closer to selling, it’s natural to ask what investment bankers or business brokers actually cost. The numbers can feel opaque if you’ve never done a deal before.

In this episode of The Funnel, Kirk explains typical fee ranges by deal size, how success fees work, what retainers look like, and how different advisors structure incentives. If you want clarity before engaging anyone, this is worth watching.

As founders move closer to selling, one common concern comes up: where do you actually find a buyer for your business?

In this episode of The Funnel, Kirk explains how buyers are sourced, the difference between strategic and financial buyers, and why preparation matters more than hunting for a needle in a haystack. If you’re thinking ahead about who might buy your company, this will help you frame it correctly.

Once founders move past curiosity and decide to explore a sale, the next question is usually about process. What actually happens between deciding to sell and closing a deal?

In this episode of The Funnel, Kirk breaks down the full sell-side process—from preparing materials and identifying buyers to due diligence and closing—so you can understand how all the pieces fit together.

In this episode of The Funnel, M&A advisor Kirk Michie explains when founders should consider hiring an investment banker and when other approaches may be appropriate. As business owners move deeper into the exit process, questions about deal structure, buyer access, and negotiation leverage become more important.

Kirk explains that investment bankers are most valuable when a business is attractive enough to generate interest from multiple buyers. By creating competitive tension, bankers can help drive higher valuations, better terms, and clearer post-close outcomes. He also notes that founders negotiating directly with a single buyer often lack the leverage needed to achieve the best possible deal. For smaller transactions—often under $5–10 million—alternatives like business brokers, exit planners, legal-led processes, or marketplace listings may be more practical.

This episode helps founders evaluate whether to hire an investment banker, understand sell-side advisory options, and weigh the trade-offs between direct deals and market-driven processes. For owners planning an exit, the video offers a realistic framework for choosing the right level of support.

In this episode of The Funnel, M&A advisor Kirk Michie explains how long it typically takes to sell a business and why founders often underestimate the timeline. Many owners assume their transaction will be simple due to business structure or limited complexity, but most deals follow a similar sequence regardless of size or industry.

Deciding when to sell your company is rarely straightforward. Even founders who are open to a sale often feel unsure about whether current conditions favor moving ahead or waiting. In this episode of The Funnel, Kirk outlines the practical factors that shape good timing, including performance trends, economic signals, buyer behavior, and sector-specific momentum. He explains when it makes sense to go now—and when patience may lead to a better outcome. Watch the video below for a clear framework on making a timing decision.

If you’ve been thinking about a potential sale but the numbers aren’t where you want them to be, you’re not alone. Many founders reach this stage and wonder what actually moves valuation.

In this short episode of The Funnel, Kirk explains the three levers that make the biggest difference: professionalizing your financials, clarifying adjusted EBITDA, and reducing key risks like customer concentration and founder dependence.

Watch the video here to see what buyers look for and how to strengthen your position before going to market.

In this episode of The Funnel, Kirk Michie tackles one of the biggest founder questions: when is the right time to sell?

While many owners wait until they’re exhausted or facing setbacks, Kirk explains why the best time to go to market is actually when things are going well—when revenue is climbing, margins are strong, and your team can carry the business forward.

He also breaks down specific internal and external signals to watch for—like contract renewals, industry appetite, and private equity activity—that can dramatically affect your valuation.