In this episode of the Business Coach podcast, host David Finkel sits down with seasoned CPA and entrepreneur, Kevin Bassett. Together, they explore the nuances of selling a company, especially to private equity firms. Kevin shares invaluable insights from his experience advising over 300 successful business exits, delving into the importance of always being sale-ready, understanding private equity strategies, and preparing for the due diligence process. Listen in to learn how to navigate common negotiation pitfalls and ensure you sell your business for top dollar.00:00 Introduction to Business Negotiations00:34 Welcome to the Business Coach Podcast01:01 Meet Kevin Bassett: CPA and Entrepreneur01:34 The Trend of Selling to Private Equity02:10 Understanding Private Equity Playbooks02:29 Heart-to-Heart on Private Equity Games03:15 The Importance of Multiple Offers08:40 Common Mistakes in Selling Your Business12:11 The Readiness of Business Owners and Companies16:37 The Pitfalls of Casual Conversations18:06 Navigating Due Diligence18:51 Introduction to Due Diligence19:16 Financial Due Diligence19:45 Quality of Earnings Reports20:46 Tax and Legal Due Diligence21:07 Negotiation Tactics in Private Equity21:39 Understanding EBITDA and Adjusted EBIT24:37 The Fatigue Game in Private Equity29:39 Working Capital Adjustments34:52 Final Thoughts and Key Takeaways----- LinksWebsite: mauimastermind.com/Facebook: facebook.com/MauiMastermind/Instagram: instagram.com/mauimastermind/LinkedIn: linkedin.com/company/maui-mastermind

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