Selling Your Company For Top Dollar |The Business Coach - Episode 73

In this episode of the Business Coach podcast, host David Finkel sits down with seasoned CPA and entrepreneur, Kevin Bassett. Together, they explore the nuances of selling a company, especially to private equity firms. Kevin shares invaluable insights from his experience advising over 300 successful business exits, delving into the importance of always being sale-ready, understanding private equity strategies, and preparing for the due diligence process. Listen in to learn how to navigate common negotiation pitfalls and ensure you sell your business for top dollar.

00:00 Introduction to Business Negotiations
00:34 Welcome to the Business Coach Podcast
01:01 Meet Kevin Bassett: CPA and Entrepreneur
01:34 The Trend of Selling to Private Equity
02:10 Understanding Private Equity Playbooks
02:29 Heart-to-Heart on Private Equity Games
03:15 The Importance of Multiple Offers
08:40 Common Mistakes in Selling Your Business
12:11 The Readiness of Business Owners and Companies
16:37 The Pitfalls of Casual Conversations
18:06 Navigating Due Diligence
18:51 Introduction to Due Diligence
19:16 Financial Due Diligence
19:45 Quality of Earnings Reports
20:46 Tax and Legal Due Diligence
21:07 Negotiation Tactics in Private Equity
21:39 Understanding EBITDA and Adjusted EBIT
24:37 The Fatigue Game in Private Equity
29:39 Working Capital Adjustments
34:52 Final Thoughts and Key Takeaways
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