Think Big, Buy Small A Seller and Business Broker’s Perspectives
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Aug 19, 2024 Greg Edwards, Founder & CEO of Onsight Healthcare, shares his entrepreneurial journey from sales to building a healthcare business. Joined by Jim Cumbee, an experienced M&A advisor, they discuss the crucial roles of sellers and brokers in the business sale process. Topics include the importance of adaptability in small business, navigating post-pandemic challenges, and how personal engagement can enhance business relationships. They also explore strategies for maximizing business value and the nuances of evaluating potential buyers.
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Finding Committed Sellers
- Find committed sellers by working with reputable M&A advisors/business brokers.
- These brokers demonstrate a seller's commitment and can help identify quality opportunities.
Selling is Hard
- Selling a business is a complex, lengthy, and emotionally taxing process, often taking 9-18 months.
- Business owners should prepare for an emotional rollercoaster and anticipate various challenges.
Choosing a Broker
- When choosing a broker, assess their track record.
- Ensure they have successfully sold businesses similar in size, valuation, and industry to yours.