Episode Summary:
Sharon is an experienced M&A advisor who founded her firm sbLiftoff to serve small and medium sized businesses, an underserved sector critical to the economy. She recently published the book "LIFT OFF: 12 Things to Know Before Selling Your Business" to educate business owners on the M&A process. It aims to take some fear out of the process so owners can approach it more calmly.
Contact/Resources:
- Book: "Lift Off: 12 Things to Know Before Selling Your Business" by Sharon Heaton
- LinkedIn: Sharon Heaton and sbLiftoff
- Website: www.sbliftoff.com
0:05 - Introduction to Sharon's background
3:30 - Transition from law into advising small businesses
5:30 - Motivation for writing the book "SB Lift Off"
7:30 - Goal to educate business owners on the M&A process
9:00 - Importance of bringing on experienced M&A advisors
11:30 - The role of empathy and honesty in deals
13:00 - Balancing company strengths and weaknesses
15:30 - Unique dynamics in government contracting deals
18:30 - Preparing the business for future sale
21:00 - The role of adaptability in Sharon's work
23:30 - Empathy examples from both buyer and seller perspectives
26:00 - Non-financial factors in negotiations
28:00 - Considerations for owners in involving employees
31:00 - Structuring retention rewards for employees
33:30 - Advice for employees deeply involved in transactions
36:30 - Where to find Sharon's book and connect with her
