<description>&lt;div class="OutlineElement Ltr SCXW186862879 BCX0"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "TextRun SCXW186862879 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;When Sean Kernan wanted out of the financial advisor support business he co-founded in Dallas, he &lt;/span&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;didn't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt; &lt;/span&gt;&lt;span class= "NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW186862879 BCX0"&gt;shop&lt;/span&gt;&lt;span class="NormalTextRun SCXW186862879 BCX0"&gt; it to outside acquirers, and he &lt;/span&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;didn't&lt;/span&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt; wait for his five partners to make him an offer. He engineered the buyout himself. Three and a half months from the first conversation to the wire hitting his account, $500,000 in cash, no earn-out, no holdback.&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="OutlineElement Ltr SCXW186862879 BCX0"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;In this episode, you discover how to:&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="1" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Open the conversation with your partners without triggering a defensive reaction or a stall&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="2" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Anchor your price to a prior valuation event so the number is hard to argue with&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="3" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Use a deliberately low ask as leverage to get speed, certainty, and 100% cash upfront&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="4" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "TextRun SCXW186862879 BCX0" lang="EN-CA" xml:lang="EN-CA" data-contrast="auto"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Identify&lt;/span&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt; which one of your partners is most likely to write the check, and approach them first&lt;/span&gt;&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="5" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Source the cash from a platform partner, franchisor, or custodian who holds the underlying assets&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="6" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Negotiate a "ceasefire" non-compete that protects the buyers without trapping you&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="7" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Read inbound acquirer silence as market signal before you push the group toward a full sale&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt; &lt;div class="ListContainerWrapper SCXW186862879 BCX0"&gt; &lt;ul class="BulletListStyle1 SCXW186862879 BCX0" role="list"&gt; &lt;li class="OutlineElement Ltr SCXW186862879 BCX0" role="listitem" aria-setsize="-1" data-leveltext="" data-font="Symbol" data-listid="1" data-list-defn-props= "{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"","469777815":"multilevel"}" data-aria-posinset="8" data-aria-level="1"&gt; &lt;p class="Paragraph SCXW186862879 BCX0"&gt;&lt;span class= "NormalTextRun SCXW186862879 BCX0"&gt;Spot the partner who is too eager to buy, and what that eagerness usually means&lt;/span&gt;&lt;span class="EOP SCXW186862879 BCX0" data-ccp-props= "{"134233117":true,"134233118":true,"201341983":0,"335559740":240}"&gt; &lt;/span&gt;&lt;/p&gt; &lt;/li&gt; &lt;/ul&gt; &lt;/div&gt;</description>

Built to Sell Radio

John Warrillow

Ep 547 How to Get Your Partners to Buy You Out

MAY 22, 202647 MIN
Built to Sell Radio

Ep 547 How to Get Your Partners to Buy You Out

MAY 22, 202647 MIN

Description

When Sean Kernan wanted out of the financial advisor support business he co-founded in Dallas, he didn't shop it to outside acquirers, and he didn't wait for his five partners to make him an offer. He engineered the buyout himself. Three and a half months from the first conversation to the wire hitting his account, $500,000 in cash, no earn-out, no holdback. In this episode, you discover how to: Open the conversation with your partners without triggering a defensive reaction or a stall Anchor your price to a prior valuation event so the number is hard to argue with Use a deliberately low ask as leverage to get speed, certainty, and 100% cash upfront Identify which one of your partners is most likely to write the check, and approach them first Source the cash from a platform partner, franchisor, or custodian who holds the underlying assets Negotiate a "ceasefire" non-compete that protects the buyers without trapping you Read inbound acquirer silence as market signal before you push the group toward a full sale Spot the partner who is too eager to buy, and what that eagerness usually means