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 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