SaaS Buyers' Club How to Prepare Your Small Business for Sale - Insights from Exit Expert Mike Finger
In this SaaS Buyers' Club Episode 23, your hosts, Software as a Service (SaaS) mergers and acquisitions (M&A) lawyers Omeed Tabiei and Joe Prencipe from Optimist Legal interview the founder of Exit Oasis, Mike Finger.
Mike Finger is a seasoned entrepreneur with extensive experience owning, exiting, and coaching on small business ventures. With eight businesses, four successful exits, and twenty years in the entrepreneurship space, Mike brings a wealth of knowledge and firsthand insights.
Discover Mike's journey through entrepreneurship, the crucial lessons learned from both failures and successes, and how these experiences led him to focus on helping other business owners prepare for the sale of their businesses through his venture, Exit Oasis.
Mike shares essential strategies for making a business sellable, emphasizing the significance of changing the owner's perspective on aspects such as profitability and team dependency. He also highlights the importance of anticipating the sale of a business, even if the owner isn't immediately looking to sell.
This episode covers practical steps business owners can take to transition from being indispensable to creating a business that can thrive and sell without them. Learn from Mike's approach to coaching, which combines operational strategies with addressing the psychological challenges of ownership, aiming to bridge the gap between desire and reality in business exits.
This episode is perfect for small business owners contemplating their future exit, offering a mixture of motivation, effective strategies, and invaluable lessons from the entrepreneurship frontline.
#SmallBusiness #BusinessExitStrategy #Entrepreneurship #BusinessSale #ExitOasis #SaaS #BusinessCoaching #EntrepreneurInsights #SellYourBusiness #SuccessStories #businessgrowth
00:00 Welcome to SaaS Buyers Club: Meet Mike Finger from Exit Oasis
01:06 Diving Deep: Mike's Journey and Expertise in Business Exits
02:47 The Heart of Exit Strategy: Ownability Equals Sellability
04:53 Exploring the Challenges of Selling a Small Business
17:19 The Three Pillars of a Sellable Business According to Mike
23:56 Addressing the Realities of Small Business Ownership and Exit Strategies
31:42 The Impact of 'M&A Porn' on Business Owners' Exit Expectations
34:07 The Complex World of M&A: Insights and Challenges
34:50 The Reality of Selling Your Business: Expectations vs. Reality
35:15 Navigating the M&A Landscape: A Professional's Perspective
35:51 The Pitfalls of DIY M&A and the Importance of Expertise
39:30 The M&A Gold Rush: Separating Fact from Fiction
41:27 Turning Around a Business: The Path to Desirability
45:17 First-Time Buyers in M&A: Challenges and Opportunities
47:16 The Journey of a Business Owner: From Startup to Exit
50:21 Transforming Your Business for a Successful Exit
01:05:17 Closing Thoughts: Advice for Small Business Owners
Follow the Guest: Mike Finger
► hhttps://www.linkedin.com/in/mike-finger/
► https://exitoasis.com/
► mfinger@exitoasis.com
Follow the Host: Omeed Tabiei
► https://www.linkedin.com/in/Omeed-Tabiei
► https://www.facebook.com/omeedt
►https://www.instagram.com/saasbizlawyer
Follow the Co-Host: Joe Prencipe
► https://www.linkedin.com/in/joeprencipe
How to reach Optimist Legal about your SaaS M&A transaction to explore working with us
► https://www.optimistlegal.com
►Omeed@OptimistLegal.com
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About Optimist Legal:
Optimist Legal is a SaaS corporate and business focused law firm with extensive experience in M&A. When you work with Optimist Legal for your next SaaS M&A transaction, you can rest assured that you're working with diligent experts that are going to get you the best deal possible.