Boss Talk: Selling Businesses With Jim Parker and Carey Sobel | EP 24 | Red Flags That Can Cost You Your Business Sale

Link to video podcast episode: https://youtu.be/xVa98fYWNyo

Welcome to Boss Talk! In today's episode, Jim Parker and Carey Sobel dive deep into the red flags that could jeopardize your business sale. 🚩 From declining financial trends 📉 to financial inaccuracies, heavy owner dependency, and unrealistic seller expectations, this episode covers it all! 🚀 Learn the importance of having clean financials, minimizing customer concentration, maintaining up-to-date systems, and disclosing any legal or compliance issues. Whether you're looking to sell your business or buy one, this episode is packed with essential insights that you can't afford to miss. Tune in to avoid these pitfalls and make your business transaction smooth and successful! 🔑

📌 Business owners, if this content resonated with you, feel free to contact Boss Group International 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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Catch up on past episodes here: https://www.youtube.com/playlist?list=PL6P2KZ69USp7uXhVKINeFL6IzcV9dr0fa

00:00 Introduction to Boss Talk 00:45 Understanding Financial Red Flags 01:35 The Impact of Declining Financial Trends 03:56 Financial Inaccuracies and Their Consequences 05:09 The Importance of Business Financeability 07:43 Owner Financing: Pros and Cons 12:39 Seller's Motivation and Trustworthiness 17:32 Employee and Vendor Turnover 21:37 Client and Vendor Concentration Risks 27:07 Owner Dependency in Business 27:23 The Problem with Overworking 28:49 Interdependency and Relationships 32:04 Importance of Systems and Documentation 37:24 Legal and Compliance Issues 42:33 Competitor Threats and Industry Changes 51:01 Unrealistic Seller Expectations 53:50 Conclusion and Final Thoughts

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