Cash Flow CFO


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Episode 49: Unlocking Business Value: Kirk Michie’s Secrets to a Successful Sale

Episode 49: Unlocking Business Value:

Kirk Michie’s Secrets to a Successful Sale

“Accept whatever the market says your business is worth and either grow it to a higher number so that that, you know, you get the market value and you can ride off into the sunset or explore a different transaction.”


– Kirk Michie


Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode with Kirk Michie, founder of Candor Advisors, bringing over three decades of finance and capital markets experience, having raised and allocated over $1 billion in capital. Kirk’s expertise spans transaction advisory services and mergers and acquisitions. In this episode, we dive into Kirk’s journey and insights into the world of business and finance.


Join us to learn the whole story!


“Get clear on the why. Why are you selling the business?”


– Kirk Michie


Kirk’s Evolution: From Stockbroker to Business Adviser 

Kirk shares his path from being a retail stockbroker to running private client groups and eventually joining a private equity firm. He discusses the shift in focus from buying small businesses to advising sellers, highlighting the need for strategic planning when considering a business exit.


Nuances of Selling: A Symphony of Economics and Professionalism 

The conversation turns to the nuances of selling a business, emphasizing the importance of understanding transferable economics and professionalizing financials. Kirk breaks down the significance of EBITDA in valuation and stresses the need for sellers to be clear on their goals, emphasizing that the right buyer match goes beyond price and terms.


Exploring Pitfall: 

This conversation explores common pitfalls, including the challenge of dealing with predatory buyers and the importance of seeking professional advice. Kirk shares six secrets for a successful sale, starting with understanding the seller’s “why” and ending with managing seller expectations to avoid deal-killing obstacles.


Networking and Learning in the Business Arena

As the discussion unfolds, Kirk offers practical advice for business owners, encouraging them to network and learn from others’ experiences. The episode concludes with a powerful reminder for sellers to accept the market’s valuation of their business and explore alternative strategies if needed.


“The buyer of your business is a full-time predator, and you, as the seller, are part-time prey.”


– Kirk Michie


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