What actually makes a business worth buying? Not the biggest revenue, the flashiest multiple, or the seller’s story—it’s fit. Brandon Bourgeois and Chris Sater break down what first-time buyers, SBA borrowers, and business owners looking to sell should consider before making a deal.They challenge the idea that a “good business” is simply one with a strong P&L. Clean books matter, but so do owner dependence, transparency, systems, lifestyle fit, and debt tolerance. A business that looks perfect on paper can still be the wrong acquisition.In this conversation, you’ll learn:

Why buyers and sellers can see the same company very differently
How to assess whether an owner is important—or indispensable—to the business
Why transparency can make or break a deal before due diligence begins
How inflated prices and unrealistic financing assumptions can shrink a buyer pool
Why SBA background requirements and debt-service coverage matter

The deal does not die when bad news hits—it gets won or lost by how you respond. Brandon Bourgeois and Chris Sater break down the real-life moments that can shake a transaction, and how experienced brokers keep buyers and sellers from turning a solvable problem into a deal-killing meltdown.
Bad valuations, lender pushback, retrades in due diligence, surprise third-party issues, and emotional overreactions all show up in this conversation. Brandon and Chris use hard-earned deal experience, including a landscape company example where a valuation came back far lower than expected before being successfully corrected, to show what actually works when the numbers, timing, or expectations suddenly shift.

In this episode of the Steps To Sold podcast, Brandon Bourgeois and Chris Sater break down the major SBA rule changes taking effect on October 1, 2026, and what they mean for business buyers, sellers, and lenders.

They explain why getting your business SBA-financeable matters more than ever, especially if you’re planning to sell or acquire a business in the upper Main Street and lower middle market. The conversation covers the biggest updates, including the new $3 million threshold for required Quality of Earnings reviews, higher debt service coverage expectations, stricter equity injection rules for first-time buyers, lender-ordered valuations, and the expanded role of preferred SBA lenders.
You’ll also hear why financing certainty can matter just as much as purchase price, how these new rules may affect deal timelines, and why early preparation can help sellers widen their buyer pool and help buyers move faster on stronger opportunities.

If you’re involved in business acquisitions, brokerage, lending, or selling a company, this episode gives you a practical, timely look at how the SBA landscape is changing and how to prepare.


#SBA #BusinessAcquisition #MergersAndAcquisitions #SmallBusiness #BusinessBroker #SBAFinancing #QualityOfEarnings #Entrepreneurship #BusinessSale #StepsToSold

In this episode, Brandon Bourgeois and Chris Sater discuss the pitfalls of bad information in business buying and selling, the myths around deal structures, and how to navigate the complex landscape of business acquisitions with real expertise.

In this episode, Brandon Bourgeois and Chris Sater discuss the critical aspects of finding qualified buyers for your business, including screening processes, valuation, and avoiding common pitfalls. Learn how to navigate the sale process effectively to maximize your company's value.

In this episode, Brandon Bourgeois and Chris Sater explore the nuances of business potential versus scalability, how these concepts influence valuation, and practical advice for owners and buyers to navigate the sale process effectively.

In this episode, Brandon and Chris delve into the critical post-sale liabilities that owners and buyers must understand. They cover warranties, indemnification, environmental issues, and the importance of transparency and due diligence in business transactions.

This episode reveals counterintuitive truths about selling your business, emphasizing the importance of early preparation, proper structuring, and strategic financial reporting to maximize value and ensure a smooth sale process.