In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen share the ultimate toolkit for buying and running a small business. Whether it's managing payroll, setting up the right entity, or preparing for the unexpected, they’ve got you covered. Tune in for tips on creating a thriving company culture, building strong employee relationships, and ensuring operational excellence in the critical first 100 days

Here are some of the highlights:

Mark and Mat discuss the importance of the seller's involvement in the transition, especially if the business has a strong brand associated with the seller.
Mat emphasizes the need to document processes and procedures to ensure smooth operations and growth.
The importance of understanding the business's current state and making necessary changes.
Employee interviews are recommended to understand the current culture and identify areas for improvement.
Focus on the need for a transition budget to cover expenses and improvements in the first six months.
The need to add value to customers and the potential for increasing revenue through new products or services.
The importance and realization of being in control of one's destiny as a business owner.

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