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
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