Advice and insights about selling your business by Kirk Michie and his network to guide successful founders to a better outcome.
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A successful business may attract buyers, but that doesn’t mean it’s ready to sell. Kirk explains why starting your exit prep early can lead to a better price, better terms, and more control when the time comes.
Buyer questions can feel personal, especially when the deal process drags on. Kirk Michie explains how the right advisor can help you manage the pressure and keep the deal moving.
The structure of your deal can have a major impact on what you keep after taxes. In this quick video, Kirk explains why the stock sale versus asset sale conversation needs to happen long before closing.
The silver tsunami isn’t just about retirement. It’s about millions of business owners preparing to sell their companies over the next decade. Here’s why founders should start planning years before they want to exit.
When selling a business, most owners naturally focus on valuation and purchase price. However, some of the most important deal terms are buried in the details of the purchase agreement. One of those terms is the net working capital peg—a provision that can directly impact the proceeds you receive at closing and potentially lead to post-sale disputes if it isn’t properly understood. In this video, Kirk Michie breaks down what a net working capital peg is, why buyers insist on it, and what business owners should pay attention to before agreeing to the terms. Watch the video below to learn how th
Some founders may qualify for one of the most valuable tax breaks in M&A. In this video, Kirk Michie explains how Section 1202 and Qualified Small Business Stock rules can potentially reduce capital gains taxes after a sale.
When founders sell a business, one of the biggest surprises often comes after the purchase price is agreed upon. Buyers frequently require a portion of the proceeds to remain in escrow in case problems emerge after closing. In this video, Kirk Michie explains how Rep & Warranty Insurance, commonly called RWI, can sometimes reduce that risk and help both sides close deals more comfortably.
Many founders assume their involvement ends once the deal closes. In this video, Kirk Michie explains how transition services agreements work and why they can shape your responsibilities after the sale.
Many founders hear terms like “platform company” or “tuck-in acquisition” during a sale process without understanding what they actually mean. In this video, Kirk Michie explains how private equity firms categorize businesses and why those labels can directly affect valuation multiples.
Kirk’s main point is that the market remains attractive for A and A+ companies. If a business has strong financials, durable growth, clean operations, and sits in a sector buyers currently want, there may still be significant demand.
Most founders think about taxes too late in the sale process. In this video, Kirk Michie explains why exit tax planning should start earlier, how deal structure changes tax exposure, and why moving states right before a sale usually does not work the way founders expect. In this short video, I break down exactly when an appraisal is actually required—like for an ESOP or legal dispute—and when you can rely on transaction advisors to give you a clear, accurate sense of your business's value instead.
When you start thinking about selling your company, it is natural to assume you need to pay for a formal, professional appraisal right away. But that assumption could cost you anywhere from $5,000 to $100,000 unnecessarily just to test the waters. In this short video, I break down exactly when an appraisal is actually required—like for an ESOP or legal dispute—and when you can rely on transaction advisors to give you a clear, accurate sense of your business's value instead.
As founders move through the final stages of selling their company, the questions shift. Early on, everything revolves around valuation, timing, and process. Later, the focus narrows to deal structure, taxes, and certainty of close. At the very bottom of the funnel, one question tends to outweigh all the rest: What happens to the people who helped build this business? For many founders, this is not an afterthought. It’s something they think about early—even if it can’t be fully addressed until the end. Employees represent years of shared effort, loyalty, and trust. At the same time, this is th
As you reach the final steps of the funnel, the conversation shifts from valuation and deal structure to what ultimately matters most: what you keep. Taxes are one of the largest—and most misunderstood—variables in a business sale. Two deals with identical headline prices can result in dramatically different net outcomes depending on how they’re structured, when decisions are made, and which advisors are involved early. This episode explains how taxes factor into a sale, where founders often get surprised, and why tax planning should begin long before the purchase agreement is finalized.
When founders start receiving offers, it’s common to see several bids clustered around the same valuation. A business valued at $20 million may attract multiple offers within a narrow range, each claiming to be competitive. The problem is that not all dollars are equal. Two offers with the same headline value can have very different levels of risk, timing, tax impact, and probability of closing. Comparing offers properly requires breaking each proposal into its components and evaluating how likely each dollar is to actually reach your bank account.
This episode explains what an earn-out really is, why buyers propose them, and how to think about whether agreeing to one makes sense in your situation.
As you move closer to selling your business, the questions stop being theoretical and start becoming very real. At this stage of the funnel, you’ve likely decided that a sale is possible—but you still want clarity on the documents, terms, and commitments that show up before anything is final. One of the most misunderstood pieces of the process is the Letter of Intent, commonly referred to as an LOI. It’s talked about constantly, often used incorrectly, and frequently signed without fully understanding what it actually does—and doesn’t—mean for you as a seller. This episode breaks it down clear
The Buyer of Your Business is a Full-Time Predator and You’re Part-Time Prey – Armor Up with Kirk Michie
Advisor fees are more standardized than most founders expect. Kirk breaks down typical percentages, minimums, retainers, and how fees scale by deal size.
Once founders understand the sale process, attention naturally turns to buyers. Many assume finding the right buyer will be difficult or unpredictable. In this episode of The Funnel, Kirk explains why that’s rarely the case when a business is prepared properly. He breaks down how buyers are identified, the tools advisors use, and the types of buyers founders should understand before going to market. Watch the video below to learn how buyer sourcing really works.
Selling a business follows a structured process, even though the details vary deal to deal. Kirk walks through each step so founders know what to expect before going to market.
Once founders start thinking seriously about selling, the process questions begin. One of the most common is whether hiring an investment banker is necessary—or worth it. In this episode of The Funnel, Kirk explains how deal size, buyer competition, and leverage factor into that decision. He also outlines alternative paths, including brokers, advisors, and direct sales. Watch the video below to understand which approach may fit your situation.
Many business owners underestimate how long it takes to sell a company. Even founders with simple structures or clean operations are often surprised by the timeline once the process begins. In this episode of The Funnel, Kirk explains what actually drives deal timelines and how different paths—unsolicited offers versus a full market process—change the schedule.
One of the hardest questions founders face is whether they should go to market now or hold off. Timing affects valuation, buyer appetite, and your own readiness. In this new episode of The Funnel, Kirk breaks down how to evaluate your recent performance, market conditions, sector trends, and risk factors before making the call. If you’re weighing timing, this will give you a clear starting point.
Many founders want a higher valuation but aren’t sure where to start. Kirk breaks down the key moves that can meaningfully increase what buyers are willing to pay.
