Key Takeaways
- We wanted to make sure group that was investing in us was bringing something more than just capital.
- I spend a lot of my time working with other business owners to help them duplicate or do their version of what we do.
- You want to make sure they’re not going to screw it up when handing over your business.
- You are an operator, you’re there running the daily activities of the company.
- A family business versus a business owned by a family is a crucial distinction.
- They want to see your P & L, your balance sheet, and growth trends.
- You can honestly project your future profit margins after analyzing current data.
- The best deals are where the company being sold is worth more to the buyer than to the seller.
- We wanted our people to have skin in the game through phantom stock.
Summary
In this conversation, Mike Walters, CEO of USA Financial, discusses the importance of leveraging partnerships for business growth, focusing on unique industry-specific functions, and the significance of cultural fit in mergers and acquisitions. He emphasizes the dual role of business owners as operators and investors, the perspectives buyers have when evaluating a business, and strategies for distributing wealth post-deal, including phantom stock and forgivable loans.
Navigating Abundance 
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