Steps to Sold: The Ultimate Business Sale Podcast

Chris Sater & Brandon Bourgeois
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Steps to Sold Podcast is your go-to resource for expert insights on buying and selling businesses. Hosted by experienced business brokers Chris Sater and Brandon Bourgeois of Sunbelt Business Brokers of Louisiana, this podcast provides actionable advice, industry trends, and behind-the-scenes strategies to help business owners successfully navigate the sales process. Each episode will cover essential topics such as business valuation, preparing for a sale, finding the right buyer, deal structuring, and avoiding common pitfalls. Whether you're a business owner looking to sell, an entrepreneur seeking opportunities, or just curious about the world of business transactions, Steps to Sold will equip you with the knowledge you need to make informed decisions. Tune in for real-world experiences, expert guidance, and valuable tips to maximize your business's value and ensure a smooth transition to the next chapter.

  1. 5D AGO

    Steps To Sold Podcast Episode 33: Mastering Business Acquisition and Analysis

    Join Brandon Bourgeois and Chris Sater as they delve into the intricacies of analyzing a business for sale. This episode provides a comprehensive guide for buyers and sellers, covering everything from initial inquiries to the LOI phase. Learn how to set the right tone with brokers, understand financials, and align your goals for a successful acquisition. Whether you're a seasoned buyer or new to the process, this episode is packed with insights to help you navigate the complex world of business transactions. Don't miss out on expert tips and strategies to make your next deal a success!

    1h 1m

  2. 5D AGO

    Steps To Sold Podcast Episode 32: Sellers - Think Like A Buyer

    In this episode of the Steps To Sold Podcast, Brandon Bourgeois and Christopher Sater discuss the evolving landscape of business acquisitions, focusing on what buyers are truly looking for in today's market. They explore the importance of predictable cash flow, scalability, and clean financials, as well as the dynamics of deal structure and the due diligence process. The conversation emphasizes the need for sellers to think like buyers and prepare their businesses for sale by ensuring transferability and transparency. The hosts also address post-close expectations and the significance of effective transition strategies.

    49 min

  3. NOV 25

    Steps To Sold Podcast Episode 31: GOLDEN TICKET

    In this episode of the Steps to Sold Podcast, hosts Brandon Bourgeois and Chris Sater delve into the complexities of business offers, exploring the often fantasized 'golden ticket' offer that sellers dream of. They discuss the realities of what sellers truly want, the importance of preparation, and the role of financing in business sales. The conversation highlights the significance of clear communication, due diligence, and understanding the structure of offers. Listeners are encouraged to recognize the myths surrounding business sales and to approach offers with a pragmatic mindset, ensuring that both buyers and sellers are prepared for the transaction process.

    1h 2m

  4. OCT 5

    Seller Involvement After the Sale: Why Signing the APA Isn’t the End

    In this episode of the Steps To Sells podcast, Brandon Bourgeois and Chris Sater discuss the critical importance of seller involvement after the sale of a business. They emphasize that signing the Asset Purchase Agreement (APA) is not the end of the journey, but rather the beginning of a new phase that requires careful planning and execution. The conversation covers various aspects of post-sale transitions, including buyer concerns, the significance of training and knowledge transfer, the role of consulting agreements, and the necessity of setting clear expectations. The hosts highlight the importance of maintaining relationships and ensuring continuity for the success of the business and the legacy of the seller. 00:00 The Journey Begins: Understanding Seller Involvement After Sale 02:51 Reality Check: Life After Closing 05:50 Buyer Concerns: Ensuring Continuity and Relationships 08:57 Transitioning Main Street Businesses: The Handoff Process 11:42 Training and Knowledge Transfer: A Two-Way Street 14:42 Lower Middle Market Transitions: The Importance of Seller Involvement 17:39 Licensing and Certification: Navigating Seller Obligations 18:51 The Importance of Clear Timelines in Transactions 21:40 Consulting and Employment Agreements: Key Considerations 24:40 Seller Involvement: A Critical Asset 28:15 Navigating Post-Sale Relationships 31:54 Understanding Non-Compete Agreements 33:46 Setting Expectations for Post-Closing Involvement 39:05 The Legacy of Seller Involvement

    42 min

  5. SEP 24

    Not All Buyers Are Created Equal Part 2 — From Tire-Kickers to Closers

    In this episode of the Steps to Sold podcast, Brandon Bourgeois and Chris Sater delve into the complexities of the lower middle market, focusing on the different types of buyers and their characteristics. They discuss the importance of understanding buyer types, the role of funded searchers, and the significance of transparency in the acquisition process. The conversation also highlights the red flags to watch for in buyer behavior and offers valuable advice for sellers navigating the Letter of Intent (LOI) process. The hosts emphasize the need for commitment and the importance of surrounding oneself with the right advisors to ensure a successful transaction. 00:00 Understanding Lower Middle Market Buyers 02:58 Identifying Buyer Types 05:58 The Role of Funded Searchers 08:57 Private Equity and Family Offices 11:35 Traits of Successful Closers 14:46 Red Flags in Buyer Behavior 17:28 The Importance of Transparency 20:24 Advice for Sellers 23:15 Navigating the LOI Process 26:33 Final Thoughts on Buyer-Seller Dynamics

    40 min

  6. SEP 24

    Not All Buyers Are Created Equal Part 1 — From Tire-Kickers to Closers

    In this episode of the Steps to Sold podcast, Brandon Bourgeois and Chris Sater delve into the complexities of the buyer landscape, particularly focusing on the differences between various types of buyers in the lower middle market. They discuss the importance of identifying serious buyers versus tire kickers, the necessity of financial preparedness, and the red flags that indicate a buyer may not be serious. The conversation emphasizes the role of brokers in screening buyers and the traits that define a good closer. Ultimately, the episode serves as a guide for both buyers and sellers to navigate the business acquisition process effectively. 00:00 Understanding Buyer Types 02:52 The Buyer Landscape in Lower Middle Market 05:32 Identifying Serious Buyers vs. Tire Kickers 08:30 The Importance of Financial Preparedness 11:45 Red Flags in Buyer Behavior 14:35 Traits of a Good Closer 17:21 The Role of Brokers in Buyer Screening 20:20 Navigating the Buying Process 23:03 The Importance of Communication and Transparency 25:58 Closing the Deal: What It Takes 28:56 Final Thoughts on Buyer Preparedness

    44 min

  7. SEP 4

    Working Capital in Business Sales: What Is It, Is It Included in the Price & How Do I Calculate It?

    Summary In this episode, Brandon Bourgeois and Chris Sater delve into the often-overlooked topic of working capital in business sales. They discuss its significance in deal structure, the differences between asset and stock sales, and the importance of accurate financials. The conversation highlights the role of seasonality in working capital needs and the necessity of transparency between buyers and sellers. They also cover the concept of true ups post-closing and emphasize the importance of preparing financials well in advance of a sale to maximize value. Chapters 00:00 Understanding Working Capital in Business Sales 04:53 The Importance of Working Capital in Deal Structure 09:42 Calculating Working Capital: The Right Approach 14:33 Challenges in Working Capital Management 19:24 Seasonality and Its Impact on Working Capital 21:52 Navigating Deal Structures and Cash Flow Challenges 24:55 The Importance of Quality of Earnings (Q of E) in Business Sales 29:15 Understanding Working Capital in Deal Negotiations 35:20 True Ups: Ensuring Accurate Working Capital Post-Closing 39:13 The Role of Transparency in Successful Transactions

    46 min

  8. AUG 31

    The Future of Business Brokerage & M&A

    Summary In this episode of the Steps To Sold Podcast, Brandon Bourgeois and George Wellmer discuss the future of business brokerage and M&A, focusing on the impact of technology and AI on the industry. They explore how buyer and seller expectations are evolving, the importance of relationships in brokerage, and the role of private equity in acquisitions. The conversation emphasizes the need for brokers to adapt to technological advancements while maintaining personal connections with clients. Predictions for the future of the industry are shared, highlighting the potential for increased efficiency and the challenges posed by AI integration. Chapters 00:00 The Future of Business Brokerage 02:43 Technology's Impact on the Industry 05:55 AI Integration in Business Brokerage 08:35 Deal Sourcing and Buyer Education 11:28 Navigating the Buyer-Seller Relationship 14:22 The Silver Tsunami and Market Dynamics 24:28 The Future of Business Valuation and Acquisitions 26:06 The Role of Private Equity in the Market 27:47 The Impact of Technology on Business Transactions 30:28 Navigating Buyer-Seller Relationships 34:30 The Evolution of AI in Business Acquisitions 41:14 Predictions for the Future of the Industry

    47 min
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About

Steps to Sold Podcast is your go-to resource for expert insights on buying and selling businesses. Hosted by experienced business brokers Chris Sater and Brandon Bourgeois of Sunbelt Business Brokers of Louisiana, this podcast provides actionable advice, industry trends, and behind-the-scenes strategies to help business owners successfully navigate the sales process. Each episode will cover essential topics such as business valuation, preparing for a sale, finding the right buyer, deal structuring, and avoiding common pitfalls. Whether you're a business owner looking to sell, an entrepreneur seeking opportunities, or just curious about the world of business transactions, Steps to Sold will equip you with the knowledge you need to make informed decisions. Tune in for real-world experiences, expert guidance, and valuable tips to maximize your business's value and ensure a smooth transition to the next chapter.

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