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Selling Your Business with David King
45 minutes | Sep 10, 2022
M&A Investment Banking with Channing Hamlett
Today we are joined by M&A investment banker Channing Hamlet with Objective Capital Partners. He serves as an execution leader for the firm’s M&A and Valuation Practice and leads the firm’s Business Services Practice. He brings more than 25 years experiences with investment banking and business valuation. Prior to joining Objective, Mr. Hamlet served as a Managing Director of Cabrillo Advisors, where he was instrumental in both leading their M&A execution and growing the valuation practice from inception into a national entity serving more than 700 clients in five years. Previously, he served as a Principal at LLR Partners, a $260 million private equity firm; and member of Legg Mason’s Investment Banking group. He has a master’s degree in Operations Research and a Bachelor of Science in Mechanical Engineering from Cornell University. Channing is a Registered Representative of and Securities and Investment Banking Services offered through BA Securities, LLC Member FINRA SIPC. Objective Capital Partners, LLC and BA Securities, LLC are separate and independent entities.
32 minutes | Aug 2, 2022
Psychology and M&A with Dr. Shahrzad Nooravi
In this episode we are joined by Dr. Shahrzad Nooravi to discuss the psychology of mergers & acquisitions for businesses, management, employees and owners of the target and acquiring companies in a merger. Her deep experience as a business psychologist helps companies build a culture of success. She has experience counselling companies on both sides of a transaction, increasing the likelihood of a closing and a prosperous business post-closing.Dr. Shahrzad Nooravi is a business psychologist, Master Certified Coach and Founder and CEO of Strategy Meets Performance, a business consulting firm that partners with leaders of mid-sized to Fortune 500 organizations to help them create engaging, innovative and productive cultures. Dr. Nooravi has been named “Trailblazer of the Year,” “Citizen of the Year,” and “A Voice to Listen to” for driving positive change in her community. Her new leadership book, "A Powerful Culture Starts with You" was rated as the #1 New Release in Workplace Culture and Best Seller in Business Coaching. Dr. Nooravi can be reached at email@example.com and strategymeetsperformance.com. Tools from her book can be downloaded at apowerfulculture.com
51 minutes | Jul 12, 2022
Elon Musk and Twitter, a Deal Gone Wrong
In this episode, I'm joined by Kirk Michie, founder of Candor Advisors to discuss the unfolding saga of Elon Musk’s failed takeover of Twitter. From April through July 2022: • Musk disclosed his ownership of 9.2% of Twitter shares.• Twitter’s board offered Musk a seat on the board so long as he would not buy more than 14.9% of its shares (a “stand-still agreement”).• Musk declined to accept the Twitter board seat.• Musk made an unsolicited offer to Twitter’s board to buy 100% of its stock for $54.20 (or $44 billion).• Musk tweeted “Love me tender” hinting that he may commence a tender offer to buy shares directly from shareholders. • Twitter’s board adopted a “poison pill” rights plan, a mechanism to materially alter a company’s capital structure upon certain events (Musk crossing a threshold of ownership).• Musk secured debt commitments and equity commitments to fund his acquisition.• Twitter and Musk executed a merger agreement to cash out the current shareholders at $54.20 and give him 100% ownership.• Musk and Twitter engaged in due diligence.• Musk announced the deal was terminated due to Twitter’s failure to deliver data responsive to his due diligence requests, Twitter misrepresented facts (giving him the right to rescind the deal), Twitter is experiencing a “material adverse effect” on its business (allowing him to walk), and Twitter has failed to conduct business in the same fashion to preserve its organization.• Twitter has promised it will sue to enforce the merger agreement. With such a high amount in controversy and a number of “factual” disputes, it seems likely that litigation will persist for a while.For more than 30 years, Kirk has worked with closely held business owners on their strategic planning, liquidity, and legacy objectives. Kirk advises businesses and owners in the middle-market, those with revenue between $10 million and $500 million.
37 minutes | Jun 17, 2022
Maximize Sale Value with Lamar Rutherford
We are joined by M&A Advisor Lamar Rutherford of Excellens Solutions, where brokers transactions and advises owners on planning to sell or exit from their businesses. She has worked with over 100 businesses in a broad range of industries, including medical, manufacturing, e-commerce, fitness, construction, etc. She formerly taught Entrepreneurship for UCSD's Rady School of Management. She founded, operated, and sold three businesses of her own. She has also done brand management marketing for Nestle, Disney and others, has been on the management teams for three Internet start-ups, and helped launch a B2B project management software company. She earned her CPA working for Arthur Andersen, and then earning an MBA at the Tuck School at Dartmouth College. For fun, she plays polo, practices yoga, enjoys theater, tango, traveling, and more. She also wrote and published a fiction novel, CodeY. SHOW LESS
33 minutes | May 4, 2022
M&A in Financial Services with Herb Morgan
We're joined by Herb Morgan, the founder of a Registered Investment Advisory firm that was acquired by a major Wall Street Invesment Bank. Herb is the Sr. Managing Director and Chief Investment Officer of Efficient Market Advisor and one of the financial industry’s recognized experts in the area of exchange-traded funds. Herb shares how he founded his firm in 2004 built the business organically and through acquisitions, how he attracted interest on Wall Street and engaged in a 16-month negotiation, due diligence, and complex sale transaction. Herb is an ace in his financial services and money management, and he followed sound practices to close a great sale with a sophisticated strategic and financial buyer. Prior to founding EMA, Herb was Senior Vice President at Linsco/Private Ledger Financial Services, and as a Senior Vice President with Dreyfus and ING Funds group. Herb is involved with philanthropy in education, including serving as Chair of the Investment Committee of The Foundation Chapter of Theta Chi Fraternity.
45 minutes | Mar 30, 2022
Exit Planning with Aaron Putroff
In this episode we are joined by Exit Planner and financial advisor Aaron Putroff to discuss Exit Planning, the holistic approach to designing a business-exit strategy that provides the owner maximum value for their life’s work. It encompasses setting Exit Objectives: When do you want to leave? How much money do you need from your business exit? To whom will you sell the business? Then, building an Advisor Team comprised of trusted, professional advisors (CPA, attorney, financial advisor, valuation expert), and planning each aspect of the transition sequence. Many business owners delay exiting the business because they’re concerned whether they’ll be able to maintain their lifestyle, whether they’ll have enough after-tax income from the proceeds of selling the business. It’s critical that the plan coordinates the owner’s personal finances with her or her business finances. While they are legally separate and distinct, from a planning perspective they are absolutely integrated. Decisions in one affect the other, and vice versa. Therefore, it’s necessary to devise a plan that succeeds in both domains. Aaron served in the US Marine Corps for 10 years, and provides the same level of protection and loyalty for his clients today.
27 minutes | Feb 24, 2022
The Imposter Syndrome in M&A with Kirk Michie
Hosting Kirk Michie, founder of Candor Advisors who has more than 30 years’ experience working with entrepreneurs, closely held business owners, and high net worth families strategic planning to achieve their legacy objectives. In this episode we discuss Fear of Missing Out and how the Imposter Syndrome impacts founders in the M&A process. We also discuss the foundational elements to prepping for sale or navigating the sale process and Keeping the Four Agreements when selling. In strategic and senior management roles, Michie has raised and deployed more than $1 billion of capital, been involved with evaluating more than 2,000 direct investments, participated as principal or advisor on the purchase of 21 businesses, and the sale or recapitalization of more than 30 companies. Kirk’s areas of expertise include transaction advisory services, M&A for founder-owned businesses, family office governance, capital raising, private equity, corporate strategy, and succession planning. His combination of investment and business experience inform his ability to help entrepreneurs navigate complex entity and legacy decisions.
29 minutes | Sep 4, 2021
M&A Investment Banking with Stuart Moss
Today we are joined by M&A investment banker Stuart Moss, a managing director with Keystone Capital Markets in San Diego. Keystone is a team of M&A professionals dedicated to providing high level investment banking and strategic advisory services to middle market companies (with revenue typically between $10 million to $200 million). Stuart has over 30 years of transaction experience as a member of company management, a private equity investor, and an investment banker in industries including consumer products, manufacturing, business services, wholesale distribution, healthcare services, and technology. He provides insight about the successful ways to prepare a business for sale, market it to the right buyers, and structure the best transaction. SHOW LESS
44 minutes | Jun 10, 2021
Selling to Strategic and Financial Buyers
The M&A market is hot in 2021, with strong deal volume and high valuations. Kirk Michie, founder of Candor Advisors, explains the major difference in transactions with strategic buyers and financial buyers--including private equity firms, family offices, structured equity and SPACS. Kirk also describes situations which are ideal for employee stock ownership plans. For more than 30 years, Kirk has worked with entrepreneurs, closely held business owners, and high net worth families. He has raised and deployed more than $1 billion of capital, been involved with evaluating more than 2,000 direct investments, and participated as principal or advisor on the purchase of 21 businesses, and the sale or recapitalization of more than 30 companies. His combination of investment and business experience inform his ability to help entrepreneurs navigate complex entity, family, and legacy decisions.
28 minutes | Apr 24, 2021
Human Capital and M&A with Susie Japs
In this episode, we are joined by Susie Japs to discuss human capital and talent management in the M&A arena. Susie Japs is the Managing Director of Wejungo, a consulting firm specializing in talent management & recruiting strategies. For almost a decade Susie has been training small to mid-size businesses on how to hire smart rather than manage tough by connecting their business strategy to their talent needs. Wejungo is one of California's leading consulting firms, specializing in talent strategy and human capital management solutions, partnering with small to mid-size businesses to redefine success and set new standards for a better way to hire and retain great employees. Susie is an expert at guiding small to mid-size companies during unsettling economic times to create strategic people plans in the event they are forced to change the way they do business.
40 minutes | Mar 23, 2021
Exit Consultant John Ovrom
In this episode I am joined by John Ovrom, founder of Exit Consulting, which provides consulting and brokerage services for businesses and owners to prepare for and execute a sale or similar change in ownership. John is a specialist in creating roadmaps for business owners anticipating a transition. John shares from his experience helping parents transfer ownership to the next generation, owners sell to key employees, businesses establish an Employee Stock Option Plan, partners buy in or sell out, orchestrate outside sales transactions, and sellers create long-term exit plans. John partners with business owners to define success, develop specific goals, and establish a plan of action to achieve them. He shares his experience creating lasting value for clients with solutions to business challenges and his deep understanding of the complexities, unknowns, and pressures of selling a business. A serial entrepreneur, John understands the day-to-day challenges of running a business. He’s founded and owned large and small companies with 1-50 employees.
39 minutes | Feb 22, 2021
M&A Strategic Planning with Kirk Michie
Today, I'm joined by Kirk Michie, founder of Candor Advisors. For more than 30 years, Kirk has worked with entrepreneurs, closely held business owners, and high net worth families to achieve their strategic planning, liquidity, investment, and legacy objectives. In strategic and senior management roles, Michie has raised and deployed more than $1 billion of capital, been involved with evaluating more than 2,000 direct investments, and participated as principal or advisor on the purchase of 21 businesses, and the sale or recapitalization of more than 30 companies. Kirk’s areas of expertise include transaction advisory services, M&A with emphasis on founder-owned businesses, corporate and family office governance, capital raising, private equity, corporate strategy, and succession planning. His combination of investment and business experience inform his ability to help entrepreneurs navigate complex entity, family, and legacy decisions.
36 minutes | Jan 6, 2021
Managing the Stress of a Sale with Dr. Jack Singer
Don’t let the stress of a sale derail a successful transaction. Dr. Jack Singer teaches us about the root causes of stress and techniques to manage stress. Dr. Jack holds a Ph.D. in Industrial/Organizational Psychology and a Post-Doctorate in Clinical/Sport Psychology. Dr. Jack has combined careers as both a Clinical/Sport Psychologist and a Professional speaker and is currently a “Success Acceleration” coach for legal and financial professionals. Jack provides the same game-changing blueprint for success to legal and professionals that he has so successfully taught to three Olympic Gold Medal winners and hundreds of world champion and professional athletes. The author of 4 books and more than 197 articles, Jack is also a frequent guest on many shows. He has served on the faculties of six universities, including an Assistant Professorship at the U.S. Air Force Academy.
36 minutes | Oct 9, 2020
M&A in the Cannabis Industry with Ken Berke
In this episode we are joined by Kenneth Berke, a corporate transactional attorney in Los Angeles with a specialty in cannabis industry. The cannabis industry raises a myriad of unique and evolving legal issues, and cannabis M&A transactions raise unique issues of their own. Ken provides insight into the M&A market in cannabis, the hottest target companies and most desirable acquirers. In his practice, Ken assists licensed cannabis, CBD and hemp businesses in their corporate, real estate, and compliance needs. Ken guidance related to banking and corporate ownership structures that maximize tax advantages, and he provides on-going compliance services that ensure continued legal and profitable operations from inception through to their sale.
39 minutes | Sep 28, 2020
M&A Investment Banking with Tim Malott
Today, we are joined by Tim Malott who founded the investment banking firm Shoreline Partners in 1994. Tim is former CPA and holds four securities licenses. Tim represents the owners of privately held companies in sale, merger, acquisition and complex financing transactions. His career spans public accounting, commercial banking and investment banking through which he has gained knowledge and experience in nearly every industry and business sector. After spending five years with a major, Midwest-based CPA firm, he was hired as President, CEO and Director of a troubled bank in Northwest Indiana. After returning the bank to profitability and successfully selling the bank, Malott relocated to San Diego.
45 minutes | Sep 11, 2020
SBA Financing for Business Acquisitions with Ryan Smith
In this episode, I’m joined by Ryan Smith, a former banker and commercial loan officer who founded ThinkSBA to help entrepreneurs receive the capital they need to acquire or grow their business. Nearly all middle market and Main Street business acquisitions are funded using SBA 7(a) financing. Ryan helps clients find the best rates and terms for acquiring a business or franchise, buying out a partner, purchasing equipment or qualifying for commercial mortgage. He prepares buyers for the borrowing process and facilitates the best loan to close an acquisition.
35 minutes | Aug 16, 2020
Succession Planning with Rod Hatley
Rodney (Rod) Hatley is an attorney and the founder of Hatley Law Group APC. Rod provides estate planning and succession planning for business owners and other individuals. He works with teams of professional service providers to protect the assets business owners work tirelessly to build. Rod has a Master of Laws from the University of San Diego School of Law’s acclaimed graduate tax program.
43 minutes | Aug 2, 2020
Brand Development with Barnaby Wynter
Barnaby Wynter is a marketing and brand development expert, speaker, author and founder of The Brand Bucket Company. Since 1985, Barnaby has helped clients develop their brands, make sense of marketing and harness the digital age where the buyer is in control of a brand if the business is not. Barnaby discusses the process of brand development and the crucial stage to enhance a brand: when a business becomes scalable. Barnaby also shares the Brand Bucket 6 step buying decision-making process. Build your business into one that will thrive after you leave, one with a developed brand. www.barnabywynter.com #sellingyourbusinesswithdavidking
35 minutes | Jul 23, 2020
Build Value with Marketing Expert Scott Aaron
We are joined by network marketer, author, podcaster and speaker, Scott Aaron. Scott is a specialist in converting traffic, establishing connections, creating residual income using Linked Leads Generation®, and building personal brands. Scott has developed and sold his own businesses in the fitness industry. Starting his network marketing business just 6 years ago, Scott saw massive opportunities that the internet had to offer. Fully immersing himself in learning Linked leads generation and social media strategies, Scott quickly gained traction as a leader in generating big results for other network marketers, online business owners, and internet marketers. His program has helped thousands of network marketers, entrepreneurs and individuals experience explosive growth following his program, Linkedin® accelerator, which is invaluable for business owners at all stages up to sale. #sellingyourbusinesswithdavidking
38 minutes | Jul 6, 2020
Hosting TV's Craig Kilborn
In this episode, I am honored to host comedian, sports commentator, late night host, and actor, Craig Kilborn. Craig was the first host of The Daily Show, an anchor on ESPN's SportsCenter, and host of CBS's The Late Late Show. Craig’s life and career demonstrate the courage it takes to devote 100% of yourself to an endeavor where the odds are stacked heavily against you and the resolution to exit after succeeding. Successful entrepreneurs need the same mettle. #sellingyourbusinesswithdavidking
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