Emily Holdman is Managing Director of Permanent Equity - a firm using 30-year funds to invest with no intention of selling in small and medium-sized private businesses. In her role, Emily is principally responsible for leading the firm's origination and investment process, and its marketing.On this episode, Chris and Emily discuss: How to know when a seller is ready, and when to move forward on a business Underwriting businesses Buying an Amusement Park Ride Manufacturer How to ask great questions when entering an unfamiliar industry We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners. https://www.thefortpod.com/surveyLinksPermanent EquityEmily on TwitterTopics(00:02:34) Emily’s background and career(00:06:47) Acquiring MediaCross and growing the business(00:13:00) Moving into Acquisitions at 23 years old(00:18:06) Going three years without acquiring (00:24:10) How to know when a seller is ready(00:31:50) Emily’s role at PE(00:33:25) When do you know it’s time to move forward with a seller?(00:38:40) How many businesses do you see before moving on one?(00:45:21) Why does everyone disagree over working capital?(00:47:23) How to underwrite a business in Alaska(00:56:21) Why PE loves Texas & Enthusiast Businesses(01:02:02) Buying an Amusement Park Ride Manufacturer(01:07:04) What are some questions you ask early on to become familiar with an industry?(01:12:32) How do you know if a seller is giving good answers if you’re unfamiliar with an industry?(01:16:52) Transaction tensions(01:23:46) Why the Twitter sentiment on self-reliance is annoying(01:32:02) Women in Investing(01:39:23) Advice for girlsSupport our SponsorsFort Capital: https://bit.ly/FortCapitalFollow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/Chris on Social Media:Twitter: https://bit.ly/3BYIjcHLinkedIn: https://bit.ly/45gIkFd Watch The Fort on YouTube: https://bit.ly/3oynxNXVisit our website: https://bit.ly/43SOvysLeave a review on Apple: https://bit.ly/45crFD0Leave a review on Spotify: https://bit.ly/3Krl9jO The FORT is produced by Johnny Podcasts

Brent Beshore, a specialist in business transitions, and Emily Holdman, an expert in strategy development, dive into the emotional motivations behind selling a business. They reveal seven core reasons for this significant decision, highlighting that it's not all about financial gain. The duo discusses the challenges of timing a sale, the importance of legacy, and how personal circumstances play a crucial role. They even liken the selling process to dating, emphasizing self-awareness and finding the right buyer.

Brent Beshore, a transaction strategies expert, and Emily Holdman, who specializes in building top-tier advisor teams, delve into the art of assembling a winning advisory team. They draw inspiration from Larry Bird's unique selection strategy, emphasizing humility and resourcefulness. The discussion highlights the balance between expertise and personal connections when choosing advisors, cautioning against over-reliance on recommendations alone. A must-listen for anyone looking to optimize their business transactions!

Brent Beshore, an experienced business strategist, and Emily Holdman, a consulting expert, dive deep into why some business owners should reconsider selling. They dissect the financial pros and cons of selling versus retaining ownership, using a hypothetical manufacturing company as a guide. The conversation covers risk assessment, the complexities of deal structures, and the potential benefits of keeping a stake in your business post-sale. Their insights challenge the conventional wisdom about selling, making a compelling case for staying put.

Brent Beshore and Emily Holdman discuss the various types of buyers in the market for private businesses, including private equity firms, fundless sponsors, search funds, family offices, and strategics. They explore their incentives for buying, financing structures, operational preferences, and practicalities of working with each type.