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Kicking Ass and Taking Names with Marlon Griffith, Esq.
Starting a business takes courage. Building it takes strategy. On the Kicking Ass and Taking Names with Marlon Griffith, Esq. Podcast, trial attorney with 30+ years in the courtroom and 16+ years as a business owner, Marlon Griffith sits down with owners, C-Suite executives, and fractional providers to give the real talk on scaling, leadership, building the right team, business finances, and the mindset that help business owners move from surviving to thriving.
Kicking Ass and Taking Names with Marlon Griffith, Esq.
Ep. 24 - Sell Your Business on Your Terms: A Conversation with Stuart H. Sorkin, JD, LL.M, CPA
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
In this conversation, Marlon and Stuart Howard Sorkin delve into the intricacies of buying and selling businesses, emphasizing the importance of succession planning, business structure, and the factors that influence business valuation. Stuart shares insights on preparing a business for sale, retaining key employees, and understanding financial metrics like EBITDA. The discussion also highlights the significance of accurate projections and maintaining a healthy balance sheet to ensure business success and facilitate smoother transactions.
Marlon and Stuart Sorkin delve into the essential factors that influence business valuation and the strategies entrepreneurs should adopt for successful business management and eventual sale. They discuss financial preparedness, the significance of understanding contingent liabilities, the importance of customer focus, and the evaluation of contract backlogs. The conversation also highlights the need for a strong business pipeline, effective management and staffing strategies, and the critical role of service and product offerings. Stuart emphasizes the importance of having an exit strategy from the outset and the necessity of planning for life after selling a business.
Connect with Stuart H. Sorkin:
Website link: Businessandlegaladvisors.com
LinkedIn: www.linkedin.com/in/ stuart-sorkin-84a528
Chapters
(00:00) Introduction to Business Exits
(03:46) Understanding Succession Planning
(05:58) The Importance of Business Structure
(08:37) Factors Influencing Business Value
(11:28) Retaining Key Employees
(15:12) Financial Factors in Business Valuation
(17:56) Understanding EBITDA and Multipliers
(20:32) The Role of Projections in Business Success
(23:28) The Balance Sheet and Cash Flow
(30:37) Financial Preparedness for Entrepreneurs
(33:18) Understanding Contingent Liabilities
(35:30) The Importance of Customer Focus
(38:34) Evaluating Contract Backlog
(40:37) Building a Strong Business Pipeline
(43:52) Service and Product Offering Focus
(47:40) Management and Staffing Strategies
(51:32) Advice for Business Owners
(55:20) Podcast Outro updated (1).mp4
Connect with Stuart H. Sorkin:
Website link: Businessandlegaladvisors.com
LinkedIn: www.linkedin.com/in/ stuart-sorkin-84a528
Chapters
(00:00) Introduction to Business Exits
(03:46) Understanding Succession Planning
(05:58) The Importance of Business Structure
(08:37) Factors Influencing Business Value
(11:28) Retaining Key Employees
(15:12) Financial Factors in Business Valuation
(17:56) Understanding EBITDA and Multipliers
(20:32) The Role of Projections in Business Success
(23:28) The Balance Sheet and Cash Flow
(30:37) Financial Preparedness for Entrepreneurs
(33:18) Understanding Contingent Liabilities
(35:30) The Importance of Customer Focus
(38:34) Evaluating Contract Backlog
(40:37) Building a Strong Business Pipeline
(43:52) Service and Product Offering Focus
(47:40) Management and Staffing Strategies
(51:32) Advice for Business Owners
(55:20) Outro
