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
Seller Involvement After the Sale: Why Signing the APA Isn’t the End
In this episode of the Steps To Sells podcast, Brandon Bourgeois and Chris Sater discuss the critical importance of seller involvement after the sale of a business. They emphasize that signing the Asset Purchase Agreement (APA) is not the end of the journey, but rather the beginning of a new phase that requires careful planning and execution. The conversation covers various aspects of post-sale transitions, including buyer concerns, the significance of training and knowledge transfer, the role of consulting agreements, and the necessity of setting clear expectations. The hosts highlight the importance of maintaining relationships and ensuring continuity for the success of the business and the legacy of the seller.
00:00 The Journey Begins: Understanding Seller Involvement After Sale
02:51 Reality Check: Life After Closing
05:50 Buyer Concerns: Ensuring Continuity and Relationships
08:57 Transitioning Main Street Businesses: The Handoff Process
11:42 Training and Knowledge Transfer: A Two-Way Street
14:42 Lower Middle Market Transitions: The Importance of Seller Involvement
17:39 Licensing and Certification: Navigating Seller Obligations
18:51 The Importance of Clear Timelines in Transactions
21:40 Consulting and Employment Agreements: Key Considerations
24:40 Seller Involvement: A Critical Asset
28:15 Navigating Post-Sale Relationships
31:54 Understanding Non-Compete Agreements
33:46 Setting Expectations for Post-Closing Involvement
39:05 The Legacy of Seller Involvement