Episodes

  • Why a Competitive Process is Key to Getting the Best Deal

    Why a Competitive Process is Key to Getting the Best Deal
    Nov 6 2024
    In the latest episode of the Growth & Exit Digest, Mike Levison discusses the significance and mechanics of a competitive sales process in the context of business sales. He stresses that a competitive sales process proactively engages multiple potential buyers to obtain the most favorable deal. The process should consist of engaging a range of buyers, performing a thorough due diligence on these buyers, fostering competition between them, and evaluating their commitment. Mike points out that higher demand, better transaction structures, and shorter timelines are key advantages of this process. He warns against buyers wanting exclusivity, advising sellers to minimize this risk by keeping exclusivity periods short and having backup buyers. He also shares insights on how to run a successful competitive sales process, including preparation and setting firm deadlines. Mike reminds listeners that while the process may be complex, it is crucial to avoid leaving money on the table and to find the true value of a business.
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    6 mins
  • Tax-Savvy Exits: Key Strategies to Boost Business Value and Avoid Costly Pitfalls

    Tax-Savvy Exits: Key Strategies to Boost Business Value and Avoid Costly Pitfalls
    Nov 1 2024
    In this episode of Growth & Exit Digest, host Mike Levison discusses the importance of proper tax strategies for increasing business value and facilitating a smooth exit. He emphasizes the importance of pre-sale tax planning to optimize business valuation and ensuring favorable tax outcomes. Mike then dives into the critical decision of choosing between asset and stock sales, using a case study to illustrate the potential implications on tax liability. He provides key insights on the use of installment sales, gifting shares, and timing the sale to coincide with favorable tax conditions. The podcast also covers the complexities of multi-state and international tax rules and the importance of post-sale strategy in managing capital gains taxes and reinvestment.
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    5 mins
  • Important Steps To Maximize Enterprise Value

    Important Steps To Maximize Enterprise Value
    Oct 10 2024
    In this episode of the Growth & Exit Digest, Mike Levison discusses the crucial elements of preparing a business for sale and boosting its value. He emphasizes the importance of early planning, operational efficiency, clean financials, growth strategies, due diligence preparation, a capable management team, and a strong market position. He speaks on the advantages of operational efficiency, the relevance of well-organized and updated financial records, and the ways to expand revenue through growth strategies. He also touches upon the extensive review process in due diligence, the role of a strong management team in successful business transitions, and the benefit of a clear competitive advantage in the market. Mike Levison's key message is that with strategic planning, a business owner can significantly increase the sale price of their business.
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    5 mins
  • Important Steps in Boosting Your Enterprise Value

    Important Steps in Boosting Your Enterprise Value
    Oct 10 2024
    In the podcast episode, Mike Levison discusses crucial steps business owners can take to amplify the value of their businesses before selling. The podcast emphasizes the importance of planning 2-5 years ahead of the intended sell date to allow ample time for optimizing financial records and operational procedures, as well as identifying and implementing growth strategies. Mike advises polishing your financial data, augmenting operational efficiency, developing a strong management team, and posturing a convincing market position for your business - specifically focusing on unique selling propositions. He also underscores the importance of preparing meticulously for buyer due diligence to inspire buyer confidence. Through such strategic improvements and early planning, Mike conveys that businesses can substantially increase their sale price, attracting value-seeking buyers.
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    5 mins
  • Maximizing Business Value: Onboarding Strategies To Boost Performance

    Maximizing Business Value: Onboarding Strategies To Boost Performance
    Oct 1 2024
    The episode of the Growth & Exit Digest podcast, hosted by Mike, focuses on onboarding strategies aimed at maximizing business value for small and medium enterprises. Mike emphasizes the importance of pre-boarding, stressing that preparing for a new recruit's arrival and setting expectations can help foster engagement. He suggests integrating new hires by providing a structured first day, effective communication about the company's mission and values, and comprehensive training. Mike further recommends a buddy system and goal setting to drive engagement and performance. He also highlights the significance of a positive work environment and regular feedback sessions. Mike points out that a good onboarding process can boost your business's operational efficiency, retention rates, and overall valuation, thereby improving potential exit strategies.
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    4 mins
  • Onboarding Strategies to Boost Performance and Improve Retention

    Onboarding Strategies to Boost Performance and Improve Retention
    Sep 26 2024
    In this episode of Growth & Exit Digest, Mike explores effective onboarding strategies to enhance a business's value by improving employee performance and retention. He outlines crucial steps starting with pre-boarding, where employers engage future team members with welcome packets, through to continuous feedback gathering. Mike highlights the importance of a positive first day experience, clear communication of the company's mission and values, and structured training. He advocates for mentorship programs, setting manageable goals, and fostering social integration as key strategies. The episode emphasizes collecting feedback for refining the onboarding process and points at these effective practices as essential for overall business success and boosting business valuation for a prospective sale.
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    5 mins