Confidentiality and Selling Your Business
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Release Date: 08/29/2024
Financials: The Cornerstone of Selling Your Business
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 18 | Financials: The Cornerstone of Selling Your Business Welcome back to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel! In this episode of Boss Talk, hosts Jim Parker and Carey Sobel delve into the critical role of financials when selling a business. They emphasize that organized and accurate financial statements are crucial from the initial listing to the final closing. Topics include the importance of clean financial records, how personal and one-time expenses impact the valuation, and the...
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How Long Will It Take to Sell My Business?
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 17 | How Long Will It Take to Sell My Business? Link to video podcast episode: Welcome back to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel! In this episode of Boss Talk, Jim and Carey discuss why there is no definitive answer to how long it will take to sell a business due to the myriad of variables involved. The two seasoned brokers elaborate on the importance of preparation, the critical first 30 days on the market, and how hiring professionals can expedite the process. They also examine...
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Game Plan: Assembling Your Business Sales Team - Part 2
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 16 | Game Plan: Assembling Your Business Sales Team - Part 2 Link to video podcast episode: Welcome back to another episode of Boss Talk: Selling Businesses With Jim Parker and Carey Sobel! In this episode, Jim and Carey continue the discussion that they started in episode 14: the essential components of assembling a team to successfully sell your business. The pair emphasize the critical roles of CPAs, attorneys, and business brokers, discussing their importance during the sale process. The conversation covers key...
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What Is Included in the Sale of My Business?
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 15 | What Is Included in the Sale of My Business? Link to video podcast episode: Welcome back to another episode of Boss Talk: Selling Businesses With Jim Parker and Carey Sobel! Join these two seasoned business brokers as they offer valuable insights into the process of both selling and buying a business. In this episode, Jim and Carey delve into the critical elements that are included in the sale of a business. They cover tangible assets like real estate, equipment, and inventory, as well as intangible assets such as...
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Game Plan: Assembling Your Business Sales Team
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 14 | Game Plan: Assembling Your Business Sales Team Link to video podcast episode: Welcome back to another episode of Boss Talk: Selling Businesses With Jim Parker and Carey Sobel! In this episode, Jim and Carey discuss the essential components of assembling a team to successfully sell your business. The discussion outlines the critical roles of business brokers, CPAs, attorneys, lenders, and other specialized professionals in ensuring a smooth transaction. They emphasize the importance of having a knowledgeable and...
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How To Choose a Business Broker
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
LINK TO YOUTUBE: https://youtu.be/OqEDsaRhy10 WEBSITE: https://bossgi.com RELEASE DATE: September 26, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 13 | How to Choose a Business Broker Welcome back to Boss Talk! With only about 10,000 business brokers in the United States, the stakes are high when selling one of your most valuable assets—your business. In this episode, hosts Jim Parker and Carey Sobel of Boss Group International, delve into the essentials of selecting the right business broker. Their discussion covers key factors such as...
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Confidentiality and Selling Your Business
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
LINK TO YOUTUBE: https://youtu.be/43Bg-m88dmA WEBSITE: https://bossgi.com RELEASE DATE: August 29, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 12 | Confidentiality and Selling Your Business Welcome back to Boss Talk! In this episode, we discuss the topic that is top of mind for most sellers that we work with : confidentiality. Hosts Jim Parker and Carey Sobel delve deep into this critical topic of confidentiality in the process of selling a business. They highlight the differences between selling a business and selling real estate, emphasizing the...
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Selling Your Business: Is a Local Broker Needed?
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
LINK TO YOUTUBE: https://youtube.com/@ListenToBossTalk WEBSITE: https://bossgi.com RELEASE DATE: July 25, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 11 | Selling Your Business: Is a Local Broker Needed? Welcome to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel! In this episode, Jim and Carey discuss the necessity of hiring a local business broker for buying or selling a business. They delve into how technological advancements and experiences during the global pandemic have made remote business transactions...
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Is Your Business Broker Greedy?
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
LINK TO YOUTUBE: https://youtube.com/@ListenToBossTalk WEBSITE: https://bossgi.com RELEASE DATE: July 4, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 10: Is Your Business Broker Greedy? Welcome to another episode of Boss Talk: Selling Businesses with Jim Parker and Carey Sobel! In this episode, they tackle the provocative question, 'Is Your Business Broker Greedy?' The discussion delves into the concept of co-brokering in business sales, comparing it to real estate practices where buying and selling agents collaborate. Co-brokering is...
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Relationships: Key to Selling a Business
Boss Talk: Selling Businesses with Jim Parker & Carey Sobel
LINK TO YOUTUBE: https://youtu.be/82eDIz_6PI4 WEBSITE: https://bossgi.com RELEASE DATE: June 13, 2024 SHOW NOTES: Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | Episode 9 | Relationships: Key to Selling a Business In this episode of Boss Talk, business brokers Jim Parker and Carey Sobel discuss the vital role that relationships play in selling a business. They emphasize the importance of building deep-rooted connections, trust, and integrity in both personal and professional dealings. The conversation spans various aspects, including the dynamics between...
info_outlineLINK TO YOUTUBE: https://youtu.be/43Bg-m88dmA
WEBSITE: https://bossgi.com
RELEASE DATE: August 29, 2024
SHOW NOTES:
Boss Talk: Selling Businesses with Jim Parker and Carey Sobel | EP 12 | Confidentiality and Selling Your Business
Welcome back to Boss Talk! In this episode, we discuss the topic that is top of mind for most sellers that we work with : confidentiality.
Hosts Jim Parker and Carey Sobel delve deep into this critical topic of confidentiality in the process of selling a business. They highlight the differences between selling a business and selling real estate, emphasizing the nuances of maintaining confidentiality. The discussion covers various scenarios and stresses the importance of protecting sensitive information from employees, competitors, customers, and vendors. The duo also elaborates on the screening of potential buyers, due diligence, and the measures taken to ensure that the transaction remains discreet, protecting the seller's interests every step of the way. Tune in to understand the intricate elements and strategies involved in keeping your business sale confidential.
Business owners, if this content resonated with you, feel free to contact Boss Group for any inquiries or to get started with a Broker’s Opinion of Value. We're here to serve you and ensure your business goals are met with excellence.
For more information on selling your business, visit https://www.bossgi.com
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00:00 Introduction to Boss Talk
00:20 The Importance of Confidentiality in Business Sales
01:29 Challenges of Maintaining Confidentiality
02:01 Employee Concerns During Business Sales
08:13 Vendor and Supplier Relationships
09:36 Competitor and Customer Concerns
13:25 Protecting Confidentiality with Buyers
19:11 Non-Disclosure Agreements (NDAs)
25:48 Qualifying Buyers
30:40 The Confidentiality Agreement Dilemma
34:31 Evaluating Buyer Experience
40:10 The Importance of Buyer Motivation
42:50 Due Diligence and Confidentiality
46:29 Protecting Sensitive Information
54:35 Ensuring Confidentiality During Site Visits
59:08 Conclusion and Final Thoughts
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