The Problem with Acquisition Entrepreneurs Mike Finger

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SUMMARY
In this video interview, Jon Stoddard talks with Mike Finger, an entrepreneur who has been involved in four successful business exits and now runs a company called Exit Oasis. Mike shares his journey, starting with a startup he and his wife founded in the mid-90s, providing back-office and support services to schools, nonprofits, and associations. He grew the business to 50 employees over a decade but eventually felt burnt out and decided to sell. However, when he approached brokers, they turned him down due to various issues in the business.

Over the next five years, Mike educated himself about what makes a business attractive to potential buyers. He shifted his perspective and made the necessary changes to transform his business into a sellable entity. Eventually, after a year of working with a broker, he successfully sold the business. The experience was a significant turning point in his life, leading him to further explore the world of acquisitions and exits. Mike continued his entrepreneurial journey, becoming a broker, running an incubator, and buying and selling other businesses, gaining valuable insights along the way.

In this video interview, Jon Stoddard talks with Mike Finger, an entrepreneur who has been involved in four successful business exits and now runs a company called Exit Oasis. Mike shares his journey, starting with a startup he and his wife founded in the mid-90s, providing back-office and support services to schools, nonprofits, and associations. He grew the business to 50 employees over a decade but eventually felt burnt out and decided to sell. However, when he approached brokers, they turned him down due to various issues in the business.

Over the next five years, Mike educated himself about what makes a business attractive to potential buyers. He shifted his perspective and made the necessary changes to transform his business into a sellable entity. Eventually, after a year of working with a broker, he successfully sold the business. The experience was a significant turning point in his life, leading him to further explore the world of acquisitions and exits. Mike continued his entrepreneurial journey, becoming a broker, running an incubator, and buying and selling other businesses, gaining valuable insights along the way.

Mike Finger also discusses four common problems he has observed among acquisition entrepreneurs


SHOW NOTES:
00:00  Episode brought to you by The Magnolia Firm's Deal of the Week! 
00:34  Intro to Mike Finger and his 4 exits
14:38  Launching ExitOasis
31:35  Sponsor:  Let the Magnolia Firm sell your company
32:17  The 4 Problems with Acquisition Entrepreneurs
32:40  Problem #1 M&A Porn
39:50  Problem #2 Regurgitating Guru Junk
45:05  Problem #3  no one has ever made money by just buying a business. 
48:25  Problem #4  Business Gigolo vs Business Owner 




LINKS to Mike Finger
https://www.linkedin.com/in/mike-finger
https://exitoasis.com/