M&A Advisor Archives - Business RadioX ®

Secrets to a Successful Business Sale, with Bob Tankesley, Exit Teams

January 16, 2025 by John Ray

Family Business Radio

Secrets to a Successful Business Sale, with Bob Tankesley, Exit Teams

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Secrets to a Successful Business Sale, with Bob Tankesley, Exit Teams (Family Business Radio, Episode 61)

In this episode, Family Business Radio kicks off 2025 with Anthony Chen hosting m&a advisor and author Bob Tankesley. They discuss the intricacies of exit planning for family businesses, including common misconceptions, the importance of thinking like a buyer, and the value of building a strong advisory team. Bob shares insights from his book Exit Teams and highlights the critical factors that can either discount or drive a premium for a business during a sale. They explore the necessity of early strategic planning, the impact of family dynamics, and the rising relevance of human capital in business valuation.

Anthony concludes the show with thoughts on how to find the best advisor.

This episode is essential for any business owner contemplating an exit strategy or seeking to maximize their business value.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Bob Tankesley, Exit Teams

Bob Tankesley is a fourth-generation entrepreneur, an MBA, and a CPA with a keen insight into and understanding of the business owner mindset. As an M&A advisor, he uses his 27 years of experience to sell companies grossing up to $75,000,000 in revenue throughout the southeast U.S., as well as the commercial real estate associated with such holdings. When a company is not ready to sell, Bob regularly partners with advisors of all types to optimize it throughout the ownership lifecycle and is a frequent speaker/educator to owners and their various advisors.

‍Bob’s experience ranges from a division of a Fortune 500 corporation to a Big Four accounting firm to multiple micro-cap and lower mid-market closely held businesses. He also ran his own tax and financial advisory firm for over a decade. For the past 22 years, he has advised over 150 business owners and executives on valuation, market readiness, and proven methods to engage in proper financial management.

Bob’s formal education includes both a BS degree in Accounting (cum laude) from UNC Asheville and an MBA in Finance from Appalachian State University, as well as multiple industry certifications. He is also a co-founder and board member of the Exit Planning Exchange (XPX) Atlanta Chapter.

Exit Teams: Build a Team of Advisors for Your Business Sale to Get a Higher Price

You’ve got one shot to sell your business right!

The American Dream fulfilled! You are a business owner, and it’s time to cash in on the sale of your business. Except the buyers on the other side of the table are prepared with a team of experts ready to lower your price.

Enter Exit Teams. This book won’t give you tactics that don’t pertain to your situation, and it won’t promise you beach chairs and Caribbean sunsets. This book will tell you the truth, letting you know the psychological dangers that play into a business sale, and how buyers can use that psychology to acquire your business for far less than you, the owner, could have made.

Follow along with Dave, the owner of FineLine Manufacturing, who received notice of a health scare, forcing him to think about selling before he’s ready. Dave makes many of the typical business seller moves, getting advice from seemingly logical but misaligned resources. Pressures mount from his employees, his customers, his friends, and his family as he juggles a business sale while maintaining secrecy.

When Dave finally gets an offer, it’s for far less than he had hoped. This sends Dave on a whirlwind of choices that pull him in many directions. Will Dave learn the lessons required to give him the best chance at business sale success before he loses his largest customer?

Exit Teams will:

Alert you to the emotional roller coaster that arises during a business sale.
Educate you to the common pitfalls business owners fall into, often of their own making.
Explain what an Exit Team is, and why they are necessary for the ultimate business sale success.
Warn you of some of the strategies buyers employ to pressure business sellers to lower their price.
Caution you about lifting expectations according to a colleague’s experience (hint: it may not be all he says it is).
Counsel you on how to handle family dynamics during a business sale.
Present you with common decisions made by inexperienced business sellers so you won’t make the same choices.
Display the challenge of secrecy among employees and customers.
Address health challenges and how they often impact the business owner while trying to sell.
Stress the need to understand your company’s value on an ongoing basis.
Provide you with a business selling experience without your having to learn the hard way from real life at the cost of millions of dollars

To order the book, follow this link.

Anthony Chen, Host of Family Business Radio

Family Business Radio is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through OSAIC, member FINRA/SIPC. RAA is separately owned, and other entities and/or marketing names, products, or services referenced here are independent of OSAIC. The main office address is 575 Broadhollow Rd., Melville, NY 11747. You can reach Anthony at 631-465-9090, ext. 5075, or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY, in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA, home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance, Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of Family Business Radio can be found by following this link.

Nathan Miller, Atlantic Consulting Solutions, and Carl Nicpon, Marsh Creek Advisors

March 19, 2024 by John Ray

Anthony Chen, Lighthouse Financial, Nathan Miller, Atlantic Consulting Services, and Carl Nicpon, Marsh Creek Advisors

Family Business Radio

Nathan Miller, Atlantic Consulting Solutions, and Carl Nicpon, Marsh Creek Advisors

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Nathan Miller, Atlantic Consulting Solutions, and Carl Nicpon, Marsh Creek Advisors (Family Business Radio, Episode 55)

Family Business Radio host Anthony Chen was joined on this episode by business consultant Nathan Miller and M&A advisor Carl Nicpon. Nathan Miller, Atlantic Consulting Solutions, talked about the routes to business growth that strategic consulting and culture development create. He shared his journey into business consulting and emphasized the importance of investing in people, structuring for growth, and developing a clear company culture. Carl Nicpon of Marsh Creek Advisors focused on the process of preparing for and executing a successful business exit or sale. He shared his personal experience with selling a family business, explained common misconceptions about business valuation, and introduced the concept of a “second bite of the apple.” The episode underscores the value of seeking expert guidance early on for both achieving sustainable business growth and navigating the intricacies of selling or transitioning a business.

Anthony closed the show with a commentary on why it’s vital that you not be afraid to ask for help.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network.

Nathan Miller, Atlantic Consulting Solutions

Nathan Miller is a global leader with over 25 years of international experience across 11 countries and fluency in four languages. He holds licentiate degrees from universities in Europe.

Leveraging his background in strategic management, organizational development, leadership coaching, and training, Nathan has served in diverse leadership roles, including business management in full-service marketing agencies, management roles in construction companies, and also as a National Director for a global non-profit organization and editor-in-chief of a website in Rome, Italy. He also brings experience in education, counseling, and real estate.

Nathan is passionate about applying his global perspective and diverse expertise to help business owners grow and thrive.

Outside of work, Nathan enjoys basketball, woodworking, and hiking with his wife.

Atlantic Consulting Solutions

Atlantic Consulting Solutions (ACS) provides strategic business consulting tailored to the needs of small businesses that are growing or seek to grow. With over 20 years of experience, their team of MBAs and former executives has assisted over 250 businesses across nearly 40 industries. They understand the real complexities a small business owner goes through and are experts and masters of overcoming those challenges.

Their holistic approach and methodology set us apart. They offer complete guidance, from developing your vision to implementing it successfully. This includes strategy, management, financial, and organizational consulting. They have expertise across all aspects of business, including strategy, finance, operations, HR, and more.

ACS has helped clients raise over $145 million in capital, negotiate major deals, restructure organizations, improve culture, and provide effective transition leadership.

As your trusted advisor, ACS provides in-depth strategic advice to support important decisions. Your success as a business owner and leader is theirs as a company. They understand the complexities organizations at this stage face and draw from real executive experience to provide tailored solutions.

ACS has worked on business model improvements, financial structuring, organizational restructuring, raising capital and obtaining large credit lines and loans. They have also significantly improved company cultures in toxic environments, trained executives/managers to become great leaders, helped companies merge, helped companies acquire others and sell themselves for double the original offer, transitioned COOs, created successful revenue models, and helped negotiate large deals. Finally, they are bilingual consultants who understand the complexities of cultures and approaches.

Website | LinkedIn | Instagram | Facebook | YouTube

Carl Nicpon, Managing Director, Marsh Creek Advisors

Carl Nicpon is an entrepreneur at heart. He was the third-generation owner of a wedding services provider with 14 locations and 200 employees. Carl led the effort to sell the 50-year-old business in a private equity roll-up of the industry, and his first-hand experience gives him an unparalleled understanding of what it’s like for a business owner to bring their company to market and negotiate a successful exit.

Carl is also an Adjunct Professor in the Executive MBA program at the University of Georgia and serves on the Board of the Shore Entrepreneurship Center at Kennesaw State University. He is the Founder of Brio Business Academy, dedicated to guiding business owners as they launch and grow their businesses. He is passionate about education because he believes that business owners make better decisions when they know how and why things work (or don’t!).

Carl graduated from the University of Notre Dame, holds an MA from the University of Chicago, an MBA from the University of Georgia, and an M.Ed. from the University of Loyola. He and his wife live in Dunwoody and have two sons who attend the Georgia Institute of Technology.

Marsh Creek Advisors

Marsh Creek is an M&A and business brokerage firm helping lower middle market business owners sell with confidence. Our typical clients are business owners with annual revenue between $5 and $75 million. While we are based in the Southeast, we proudly serve clients nationwide.

Marsh Creek is proud to partner with the Bristol Group, a network of over 20 advisors from across the country. While leveraging this broad pool of experienced advisors, we remain committed to providing you with a high-touch, high-service approach that is customized to your unique needs. We firmly believe that teamwork is essential to ensuring a successful and fulfilling sales experience for our clients.

The Marsh Creek team is comprised of former business owners who are honored to partner with you on your path to sale. It’s our goal to ensure the largest financial transaction of your life is done right.

Website | LinkedIn

Topics Discussed in this Episode

00:00 Welcome to Family Business Radio
00:39 Nathan Miller’s Journey: From Nonprofit to Business Consulting
03:21 The Role and Impact of Business Consulting
05:22 Cultivating a Successful Business Culture
12:19 Strategic Planning and Organizational Structure for Growth
16:16 Recruiting the Right Team: Mission, Vision, and Values
17:12 Navigating Financial Challenges and Planning for the Future
22:37 Transitioning to Exit Planning: Carl Nicpon’s Story and Insights
28:40 The Pitfalls of a Single Buyer in Business Sales
29:29 Exploring the ‘Second Bite of the Apple’ Strategy
31:30 When to Consider the ‘Third Route’ for Your Business
33:44 Maximizing Business Value for Sale: Strategies and Mistakes
40:31 Enhancing Business Value: Positive Strategies and Practices
46:25 Expert Insights: Common Mistakes and Missed Opportunities in Business
52:00 Closing Thoughts: The Importance of Seeking Help and Building a Team

Anthony Chen, Host of Family Business Radio

This show is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned, and other entities and/or marketing names, products, or services referenced here are independent of RAA. The main office address is 575 Broadhollow Rd., Melville, NY 11747. You can reach Anthony at 631-465-9090, ext. 5075, or by email at anthonychen@lfnllc.com.

The complete show archive of Family Business Radio can be found by following this link.

Michael Horwitz, Transworld Business Advisors of Atlanta, Nancy Pridgen, Pridgen Bassett Law, and Dr. Jaeson Courseault, Trif3cta Sports Medicine

February 15, 2022 by John Ray

Family Business Radio

Michael Horwitz, Transworld Business Advisors of Atlanta, Nancy Pridgen, Pridgen Bassett Law, and Dr. Jaeson Courseault, Trif3cta Sports Medicine

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Michael Horwitz, Transworld Business Advisors of Atlanta, Nancy Pridgen, Pridgen Bassett Law, and Dr. Jaeson Courseault, Trif3cta Sports Medicine (Family Business Radio, Episode 29)

Financial and physical health is the focus of this episode of Family Business Radio. Michael Horwitz with Transworld Business Advisors of Atlanta discussed the need for clean books and sound preparation in advance to prepare for a sale. Nancy Pridgen of Pridgen Bassett Law discussed ERISA law and employment issues, including mask mandates. Dr. Jaeson Courseault with Lifehope Medical described his holistic approach to healthcare with his practice of non-surgical orthopedic medicine, prevention and wellness, and helping his patients get better by looking at all the factors that may be impacting their health. He describes his ideal patient as people who are active or want to be active who need help doing so.

All three guests reflected on the ways a client can identify the red or green flags that signal they may need a business broker, an ERISA attorney, or a holistic doctor.

In Anthony’s closing comments, he echos the guidance that the best time to reach out to a financial advisor is when major changes are occurring. Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network.

Michael Horwitz, Business Broker and M&A Advisor, Transworld Business Advisors of Atlanta

Transworld Business Advisors is the world leader in the marketing and sales of small and lower-middle market businesses. Whether you represent an acquisition-minded corporation or are personally interested in owning your own company, Transworld offers the professional services that successfully bring buyers and sellers together.

Michael is a Business Broker and M&A Advisor with Transworld Business Advisors of Atlanta. He has been helping people buy and sell small and lower-middle businesses for over 5 years. His years of experience run the gamut from senior management roles in Fortune 500 corporations to leadership positions with venture capital-backed high-tech enterprises. Michael also brings small business knowledge through his seven years of owning an independent bicycle shop.

Michael has been in the north Atlanta area for over 25 years now. He grew up in Cleveland, OH, and received his undergrad degree from Case Western Reserve University. After ten years in the workforce, he went back to receive his MBA from Capital University in Columbus, OH. Michael is an avid cyclist, kayaker and backpacker.

Company website | LinkedIn

Nancy Pridgen, Attorney and Managing Member, Pridgen Bassett Law

Pridgen Bassett Law is a boutique law firm situated in beautiful historic downtown Roswell, Georgia, but its attorneys handle ERISA and employment disputes literally across the nation.

Pridgen Bassett Law’s attorneys combine some 40+ years of litigation experience to offer legal strategies and solutions tailored to each client’s unique situation. Clients include employees and employers, private and public businesses, and ERISA plan sponsors and fiduciaries. Pridgen Bassett Law equips clients with cutting-edge ERISA and employment law strategies and a wide range of legal options and offers modern answers for modern benefits and employment issues.

Pridgen Bassett Law attorneys have spent many years at Alston & Bird and King & Spalding representing sophisticated top-tier clients in complex ERISA litigation and employment matters. Pridgen Bassett Law was created to make that experience accessible to a wider range of clients. ERISA and employment matters require knowledge and experience.

Employees, executives, businesses, plan sponsors, and fiduciaries should have access to that resource — no matter the size of the matter or the size of the business. Pridgen Bassett Law is that resource.

Company website | LinkedIn | Facebook

Dr. Jaeson Courseault, Trif3cta Sports Medicine, A Lifehope Company

Lifehope Trif3cta Sports Medicine provides non-operative sports orthopedic services for patients with muscle, bone, or joint pain. The practice also has a mobile component that will go to the patient’s home or other location.

Lifehope specializes in regenerative injections like PRP (platelet-rich plasma) injections, umbilical product injections, Amniotic fluid injections, cortisone injections, and hyaluronic acid injections. They also provide COVID testing, either in-house or at your location for personal use or group testing, with results in 10 minutes.

Their goal is to make you feel better as safely and as quickly as possible in the comfort of their brand new office or their State-of-the-Art Mercedes Benz Sprinter converted to a mini medical office, which is sterilized after each visit. They also offer IV hydration therapy and other recovery treatments.

They are proud to provide a safe, modern-day, high-quality level of care, medical experience, and commitment to all of their patients, as trusted by professional athletes.

As an Atlanta native, Dr. Jaeson Courseault received his Bachelor of Science degree in Psychology Pre-Med from Morehouse College on a full academic scholarship. While at Morehouse he played cornerback for their football team and graduated with Summa Cum Laude honors. With roots in New Orleans, LA, he went to medical school at Tulane University and completed a Family Medicine Residency at LSU.

He completed his fellowship specialty training in Sports Medicine in Waco, TX. For the past 5 years, he served as Team Physician for several high schools, 2 junior colleges, and Baylor University Men’s Basketball Team and Track/Cross Country Teams. Dr. Jaeson Courseault left his practice in Texas and returned to Georgia in October 2020 to serve his home community.

After such an awesome experience in Waco, TX he decided that it was time to be closer to family. He enjoys golfing and spending time with his wife Brittany and his baby daughter Xoé. His Christian faith drives his love for people through medicine. Part of his daily prayer is that his patients see the high level of care that he has for his patients. He prides himself in having an excellent bedside manner.

Company website | LinkedIn| Facebook | Instagram

Anthony Chen, Host of Family Business Radio

**Anthony Chen, Lighthouse Financial, and Host of “Family Business Radio”**

This show is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. The main office address is 575 Broadhollow Rd. Melville, NY 11747. You can reach Anthony at 631-465-9090 ext 5075 or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long term care insurance to many investment options through Royal Alliance. Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of “Family Business Radio” can be found at familybusinessradioshow.com.