The Silver Tsunami: Myth or Reality? with Mike Finger

Show Notes

Mike Finger, a small business owner and expert in the transaction space, shares his insights on selling small businesses. He emphasizes the importance of understanding the basics of selling a business and dispels common misconceptions. Mike discusses the challenges faced by business owners in valuing and selling their businesses, including inflated expectations and lack of knowledge. He also shares his own experiences with buying and selling businesses, including turnaround acquisitions. Mike offers advice for business owners, encouraging them to focus on creating desirable results, ensuring the business can operate without the owner, and documenting the results.

Takeaways

• Understanding the basics of selling a business is crucial for small business owners.
• Many business owners have inflated expectations and lack knowledge about the value and sellability of their businesses.
• Creating desirable results, ensuring the business can operate without the owner, and documenting the results are key factors in preparing a business for sale.
• The market for small businesses is complex, and owners should seek professional advice and educate themselves about the process.
• Waiting too long to tackle the topic of selling a business can lead to missed opportunities and regrets.

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Creators & Guests

Host

Barnaby Cook

What is The Exit Plan: Mergers and Acquisitions for Creative Entrepreneurs?

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.