Joe Briers, Aaron Spitzer, Jeff discussed on Kowal Investment Show
People with their hands financing people with their hands begin to that. Rose proud girl from out. Yeah, you know, Yeah. I mean, there could be, um, you might have to structure where there's some seller financing. Uh, sometimes there's a reserve that put aside and that reserve is only given to the cellar. If there's a certain performance met on the first year of the business operation, and that's more so to just ensure that The business is continuing to be successful with the new ownership, so there's so many different things, and it just really emphasizes why it's so important to have the right advisor in your corner. Joe when you sell a business, so as opposed to how was obviously you've got to do the valuation right? It begins with the process is this whole done? Confidentially is a different thing. You market house that you have an agent. It goes in the ML last. There's a sign in the front yard is it's a bit different. I assume with the business. It is, um and everything has to be confidential. Um, So one of the first things that we tell business owners is, you know, first and foremost, the conversations that we have are 100% confidential, and it is one of the biggest decisions that they're gonna make. Uh, in their lifetime. Really? I mean, as an entrepreneur, we're working with business owners that have on their business for 2025 30 35 years. This is an overall legacy. And so you know, they start with the process. We have to do a Discovery day and in that discovery day, we're sitting down with the business owner to learn about them. Learn about their business, the history and most importantly, what are their goals and objectives. Of course price is important. But beyond that, we're also looking at is your How important is the legacy? How important is it of what the buyers vision is when they come in and start running in operating the business and I'd say, literally 10 out of 10 times. How important is the staff and boys that sky high? And so these business owners really care about their staff, and so it's on us to make sure that we are finding buyers that are really going to come in. Not only take care of the business but also take care of their staff. A swell well, It's interesting because it's easy to transfer a file, but it's hard to transfer relationship. So what you're trying to do is transfer the whole business, plus the relationship and then care about the people that they have probably worked with. For 20 or 25 years, also some of the employees so we're going to sneak in a quick commercial break. Joe Briers, President of Lakes business group. And you know, he works for business owners that want to sell their company on the retirement clinic. Jeffco all of course, the Koel investment group. We need to back up a bit here. It didn't do my Job at the beginning of the show. By way of background, you hear your staff Jeff, five days a week on Wi San and W eb doing market reports located in Walker's shop, Port Washington, Phoenix, Arizona and, of course, Racine. Where Aaron Spitzer resigned last week. Hosting the show..