M&A Talk: #1 Podcast on Selling a Business For New Sellers: The Role of Your Accountant in the Sale of Your Business
Sep 6, 2024
John Hannum, a fractional CFO, shares valuable insights on how financial professionals can significantly impact business growth and sales. He explains the distinct roles of accountants, controllers, and CFOs, emphasizing the importance of clean financials for maximizing company value during sales. Listeners learn about the strategic advantages of hiring a fractional CFO, common pitfalls sellers face, and key preparatory steps for a successful business sale. Hannum's expertise helps clarify why proactive financial leadership is essential for entrepreneurs navigating M&A.
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What A Fractional CFO Does
- A fractional CFO brings CFO strategy to smaller firms without full-time cost.
- They focus on operations, finance strategy, and preparing companies for growth or sale.
Messy Books Leave Money On Table
- Sellers often have messy books and no story to tell which reduces sale value.
- Fix accounting early to avoid leaving value on the table.
Most Books Are Mediocre
- John Hannam rates most company books at about 5–7 out of 10.
- Very few are perfect and some sellers' books are dangerously poor.