Tune In And Cash In: 3 Podcasts You Should Listen to Before Selling Your Business
So, you’re thinking about selling? First of all, congratulations! Making the decision to sell your business can be a great way to cash in on your hard work and propel the company you helped build to the next level. But it’s a big step, and one that can feel daunting, especially considering there are 45,000 active businesses for sale globally. That’s a lot of competition. And even if you already have a buyer or an offer lined up, there’s still a lot to consider before closing the deal: What is your company worth? How involved do you want to be after the sale? Should you hire a broker or CBI? If so, which one?
For answers to these questions and more, we’ve been tuning in to some really great podcasts lately, and we wanted to share a few of our favorites. Each of these podcasts offers invaluable selling advice that ranges from where to start to true deep dives into the individual experiences of entrepreneurs. And best of all? They can all be found online for free! So let’s listen in, shall we?
-
For a quick (but thorough) overview of the selling process: Dollar$ and $ense: Creating Your Fulfilled Life, produced by our Strategic Partner Private Vista and hosted by Nicole Romito
We’ve always been big fans of the Dollar$ and $ense podcast, run by EFBC Strategic Partner Private Vista. This podcast is known for its broad range of financial planning advice, covering everything from life events to wealth management strategies. Recently, they released a three-part series titled “Preparing for the Sale of Your Business,” which offers a thorough exploration of the selling process. Hosted by Nicole Romito (a financial planner with over 20 years of experience), the series features insights from EFBC Strategic Partners George Karavattuveetil (President of Psyched!) – Episode 38; Deanna Salo (Managing Principal at Cray Kaiser), Eric Vanderploeg (Partner at Burke, Warren, MacKay & Serritella) – Episode 39; and Matthew Hammer and Dawn Mase (of Wintrust Commercial Banking) – Episode 40. Each of these experts offer invaluable insight into the nuts and bolts of selling a business while helping entrepreneurs navigate the emotional side of the process. And best of all, it’s a Chicago-based podcast, so the specifics will sound familiar (and be particularly useful) to Chicagoland/Illinois businesses, offering local expertise that hits close to home. Each of the three episodes runs 30-45 minutes in length and is available on Private Vista’s website, Spotify, Apple Podcasts, Youtube, and Amazon Music.
2. For the buyer’s perspective: Acquiring Minds, produced and hosted by Will Smith
No, not THAT Will Smith, but the podcast Acquiring Minds still packs a punch. Founded and hosted by an entrepreneur who built and sold online media brands for much of his early career, Acquiring Minds came about when Smith decided he wanted more insight into the buyer’s side of the table. So, he sat down and interviewed every buyer he could find. Smith’s guests run the gambit from top players in SBA lending to portfolio builders.
What’s great about this podcast is its focus on practical takeaways. Through thoughtful questions around due diligence, company culture, and growth potential, Smith helps listeners (whether buying, selling, or both) gain insights they can apply immediately. In one of our favorite episodes, he even interviews a young couple who decide to start a family business by buying one. Each episode runs about 90 minutes in length and is available on Spotify, Apple Podcast or the Acquiring Minds website (though we prefer to listen on Spotify, where the descriptions contain a list of topics discussed in each episode).
3. For deep dives into seller stories with a feminist twist: The Exit Whisperer, produced and hosted by Carrie Kerpen
Though Kerpen’s podcast is geared more toward women, we think the stories of the female entrepreneurs she features in her episodes are pretty universal. After selling her own agency, Likeable Media, Kerpen developed a methodology for helping others avoid the common pitfalls associated with exiting a business. The Exit Whisperer is an exploration of that philosophy, especially as it relates to the valuation gap between female and male-founded businesses. In the podcast, Kerpen interviews the people who are closing that valuation gap: women who have successfully scaled and sold their businesses. And our favorite part? Kerpen pulls these guests from businesses of all shapes and sizes. We’re talking big health companies in some episodes and small yet scalable product companies in others. Because of this range, The Exit Whisperer will have a story that speaks to you, regardless of your gender. The episodes run about 30 minutes in length and are available on Spotify, Apple Podcasts, and Amazon Music.
Of course, this three-podcast-long list is by no means exhaustive. There are hundreds of business podcasts out there that cover topics related to acquisitions, and that number continues to grow. This is great news for entrepreneurs, as it moves wisdom that may have previously appeared behind paywalls or in long, complex books into a more accessible format. It also means that if you have a specific question related to selling your business (or anything else, really), there is probably a podcast out there with the answer. So, after getting an overview from the podcasts we listed above, it’s worth doing a search to see if you can find deeper dives that address your specific industry, concerns, or values. Happy listening!