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Buy the Numbers

Buy the Numbers

著者： Mike Payne
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 A deep dive into the financials of running a Manufacturing business.2024 マネジメント マネジメント・リーダーシップ 経済学
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  • Beyond the Highest Bid: Selling Your Business with Legacy in Mind, Ep #26

    Beyond the Highest Bid: Selling Your Business with Legacy in Mind, Ep #26
    2025/08/14
    Selling a business is rarely just about the numbers—and in this episode of Buy the Numbers, we explore why. Recorded at the CLA Connect Center in Minnesota, Mike Payne and guest co-host Erin Mickels sit down with two sets of owners who have recently gone through the process of selling their companies. From fielding unsolicited offers to choosing between 26 potential buyers, their stories highlight the strategic, emotional, and deeply personal factors that shape a sale. Joel Bauer of Midsota Manufacturing shares his unlikely journey from part-time welder to co-owner of a thriving 132-employee operation. When industry consolidation threatened to change the game, he had to decide whether to expand aggressively or seek the right partner to carry the business forward. Tyler and Ashley Arrell, owners of Perfect Exteriors, walk us through their experience navigating private equity interest, evaluating strategic buyers, and prioritizing their team’s future over the highest payout. Throughout the conversation, Erin provides expert perspective from CLA’s owner transition services team, breaking down how to evaluate offers, run an efficient process, and protect your legacy. The discussion covers everything from preparing your books for sophisticated buyers to why you should always run your business as if you’re planning to sell—even if you aren’t. If you’ve ever wondered how to choose between multiple offers, when to bring in professional advisors, or how to ensure your employees and customers are taken care of after the deal closes, this episode delivers both the technical insights and the human side of the transaction. You will want to hear this episode if you are interested in... (0:32) Grow your top and bottom line with CLA(1:40) Introducing the guest co-host and today’s panel of sellers(3:56) Joel Bauer’s unconventional path to business ownership and growth(7:37) Tyler and Ashley Arrell’s journey to business ownership(12:35) The role of unsolicited offers in starting the sales process(14:33) How CLA helped assess and improve offers(17:36) Choosing between strategic buyers, private equity, and individuals(18:21) Fit, culture, and legacy versus the top-dollar offer(21:00) Narrowing down dozens of interested buyers(23:00) Why buyer interviews reveal more than just numbers(24:23) Considering internal transitions versus external sales(27:00) Running your business like you’ll sell it—whether you do or not(32:26) Nail the 7 habits of highly effective workholding with SMW Autoblok(33:08) Handling the sale process while keeping the business healthy(38:47) How unexpected events often accelerate sales decisions(40:50) Inside the interview process with potential buyers(44:13) The broker’s role in standing firm during negotiations(49:28) Why legal, tax, and financial specialists matter in M&A deals(50:22) Final advice for owners considering a sale(55:20) Navigating surprises in the buy/sell process(1:05:13) Register for Top Shops and get 20% off with code MAK20 Resources & People Mentioned Grow your top and bottom line with CLANail the 7 habits of highly effective workholding with SMW AutoblokRegister for Top Shops and get 20% off with code MAK20! Connect with CLA Clifton Larson Allen (CLA) Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    1 時間 6 分
  • Legacy, Liquidity, and the Long Game: What Really Happens After the LOI (Part II), Ep #25

    Legacy, Liquidity, and the Long Game: What Really Happens After the LOI (Part II), Ep #25
    2025/07/31
    If you think selling your business is just about getting the highest number, think again. In Part II of my conversation with the all-star team at CLA—Erin Mickels, Mike Britten, and Mike Pohl—we dig into the fine print that can make or break your deal after the handshake. From LOIs to sales price allocations to working capital battles, this is where the real money is won or lost. We start with what seems like a formality—signing the LOI—but as you’ll hear, that’s often the moment your leverage walks out the door. I’ve seen it firsthand: missed tax planning, bad rollovers, vague language that bites back later. This episode is all about what to watch for before you sign and how to avoid rookie mistakes that can cost you millions. Then we dive deep into the deal mechanics that trip up even seasoned sellers—working capital disputes, earnout illusions, and how sales price allocations affect what actually ends up in your pocket. If you’ve never had a deal derailed over working capital, you’re lucky. But most sellers? They’re not ready for that fight—and it’s why deals fall apart at the 11th hour. And once the wire hits your account? That’s not the end—it’s the start of a whole new challenge. What do you actually do with that liquidity? How do you avoid the tax bomb that comes a year later? How does your risk profile shift when you're no longer a builder, but a steward of capital? If you’re serious about getting full value for the company you’ve spent a lifetime building—this episode is essential listening. You will want to hear this episode if you are interested in... (0:15) Grow your top and bottom-line with CLA(1:54) Structuring employee retention bonuses after a sale(2:55) Why you shouldn’t sign an LOI without legal and tax review(11:02) What buyers scrutinize during financial due diligence(11:45) Working capital and earn-out frameworks(14:18) The challenge of valuing work-in-progress (WIP) in deals(16:51) The importance of post-close working capital adjustments(17:57) How sales price allocation impacts your tax bill(21:44) How ProShop ERP can help you achieve on-time delivery(24:12) Understanding which assets are taxed at ordinary income vs. capital gains(25:40) How earnouts tied to employment can trigger wage tax(27:15) What to do (and not do) after receiving your payout(29:40) How selling changes your risk profile and investment approach(32:08) How to value fully depreciated assets in a business sale(34:40) What determines your company’s EBITDA multiple(36:06) Mike’s “psycho spreadsheet” for modeling post-acquisition performance(38:12) Valuation as both art and science in the lower middle market(42:08) How Qualifying Small Business Stock (QSBS) can help you avoid federal taxes(44:18) Why complex tax strategies require early planning and good advisors(45:44) Stay tuned for Top Shops 2025 registration! Resources & People Mentioned Grow your top and bottom-line with CLAHow ProShop ERP can help you achieve on-time delivery Connect with CLA Connect with Erin Mickels, CPAConnect with Mike BrittenConnect with Michael Pohl, CPA, CFP® Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    46 分
  • Legacy, Liquidity, and the Long Game: Building Value Before You Sell, Ep #24

    Legacy, Liquidity, and the Long Game: Building Value Before You Sell, Ep #24
    2025/07/24
    If you’ve ever thought, “I’ll sell when I’m ready”—you’re already behind. In this episode of Buy the Numbers, I sit down with three powerhouse advisors from CLA—Erin Mickels (owner transition expert), Mike Britten (tax wizard), and Mike Pohl (wealth whisperer)—to unpack what it really takes to set yourself up for a successful exit from your manufacturing business. We talk through the overlooked planning window between “someday I’ll sell” and “it’s time to list.” Whether you're ten years out or just three, this conversation will help you shift your mindset from just growing revenue to building transferable value. Because a higher top line doesn't always mean a bigger payday—and once you understand the levers that actually impact valuation, you can start pulling them now. We also hit some real talk about what happens after the wire hits your account. What are your personal goals? How much do you actually need to retire, launch your next thing, or leave a legacy? And how can you avoid giving too much to the IRS—or your kids, if that’s your preference? Bottom line: The best exits aren’t lucky. They’re engineered. And if you want to stack the odds in your favor, this episode will show you where to start. You will want to hear this episode if you are interested in... (0:12) Grow your top and bottom line with CLA(1:20) Meet the guests: CLA’s experts in wealth, tax, and transition(4:03) Start with the end in mind: How much do you really need to walk away?(8:10) Why personal financial clarity should come before valuation(11:37) Bridging the gap between what your business is worth and what you need(14:10) Growing value ≠ growing revenue—what actually drives multiples(15:32) The buyer’s perspective: asset sales, stock sales, and tax surprises(17:44) Market timing matters: Don't let ego miss the window(19:37) Check out Verdant Commercial Capital to get a true partner in your corner(20:17) Why it's normal to feel overwhelmed—and how to build the right team(22:30) The critical three-year window: Your numbers matter more than ever(27:00) From handwritten notes to a valuation nightmare(28:10) Here's why you need quality audited/reviewed financials(31:25) Quality of earnings reports: Not just validation, but storytelling(32:43) Building buyer confidence with customer profiles and payment history(35:24) Don’t ignore risk: succession, estate planning, and key-person exposure(38:10) Tax landmines: personal expenses, nexus issues, and employee bonuses(41:42) Top Shops 2025 preview—join us in Charlotte! Resources & People Mentioned Grow your top and bottom line with CLACheck out Verdant Commercial Capital to get a true partner in your cornerTop Shops 2025 preview—join us in Charlotte! Connect with CLA Connect with Erin Mickels, CPAConnect with Mike BrittenConnect with Michael Pohl, CPA, CFP® Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify
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    42 分
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