Steps to Sold: The Ultimate Business Sale Podcast
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.
Steps to Sold: The Ultimate Business Sale Podcast
The 5 Most Valuable Things in Your Business (That You’re Probably Undervaluing)
Summary
In this episode, Brandon Bourgeois and Chris Sater discuss the five most undervalued assets in business that owners often overlook. They explore the importance of documented systems, a strong team, customer base quality, digital reputation, and the pitfalls of overvalued assets like improvements and inventory. The conversation emphasizes the need for business owners to recognize and enhance these undervalued aspects to increase their business's market value and appeal to potential buyers.
Takeaways
Revenue is not the most important value of a business.
Buyers prioritize repeatability, transferability, and scalability.
Documented systems and processes are crucial for business value.
A strong and autonomous team adds significant value to a business.
Quality of the customer base is essential for long-term success.
Digital assets and online reputation are increasingly important in today's market.
Improvements made to a business are often overvalued by owners.
Inventory can be a liability if not managed properly.
Future contracts do not guarantee immediate value or cash flow.
Previous offers should not dictate current business valuation.
Chapters
00:00 Introduction to Undervalued Business Assets
02:53 Myth Busting: Revenue Isn't Everything
05:51 The Importance of Documented Systems
08:54 Building a Strong and Autonomous Team
11:48 Understanding Customer Base Quality
14:36 The Role of Digital Assets and Reputation
17:21 Overvalued Assets in Business Sales
20:33 The Impact of Inventory on Business Value
23:21 The Reality of Future Contracts
25:57 The Myth of Previous Offers
29:16 Final Thoughts and Key Takeaways
Keywords
business valuation, undervalued assets, business sales, revenue, customer base, digital reputation, business systems, team management, inventory management, business contracts