How To Buy And Sell A Business

Culture: True Success Beyond The Closing

Ryan Bond, Chief People Officer of Thrive Restaurant Group, shares with Jacob Wayman and Sam Foreman, every acquisition begins with an invitation: an open hand to join a shared story built on respect, relationships, and growth. Instead of imposing their way, Thrive patiently integrates new teams by honoring what already works and strengthening it through their values. It's a human-first approach that ensures acquisitions aren't just successful on paper but transformative for the people who make the company great. 
Check out the video version at: https://youtu.be/oXnzYeCoNXI

Buy Your Own Boss: Building Leadership and Legacy

In this episode, Maddie Butler, co-owner of Kent AV, joins Jacob Wayman and Sam Foreman, and shares her journey from employee to entrepreneur and the challenges that come with taking ownership of a business. She talks about the importance of setting clear boundaries between work and personal life, creating a strong company culture, and the role of leadership in business success. Maddie also emphasizes the value of mentorship, continuous personal growth, and staying ahead of industry trends. If you're considering buying or selling a business, or just navigating leadership transitions, this episode offers insightful advice on managing change and building a culture that matters. 
 
 

Business Value Beyond the Numbers

In this episode, Stephanie Klingzell Carlin, founder of C5 Business Advisors, joins 
Jacob Wayman and Sam Foreman and discusses the often-overlooked factors that contribute to business valuation, such as culture, workforce, and intangible assets. While most business owners focus on financials, Stephanie explains that factors like employee engagement, geographic location, and brand reputation can significantly impact the value of a company. She also explores the complexities of the ESOP (Employee Stock Ownership Plan) as a unique exit strategy, highlighting the benefits and challenges it poses for business owners looking to sell.  
 

Different: A Private Equity Approach Focused on Long-Term Success

In this episode, Brent Beshore, CEO of Permanent Equity, joins hosts Jacob Wayman and Sam Foreman to share a refreshing perspective on how private equity can truly create lasting value. Instead of the traditional "buy, strip, and flip" model, Brent discusses how Permanent Equity uses a 30-year investment horizon with no debt, allowing businesses to grow organically and with a focus on preserving their culture.
 
He highlights how important it is for business owners to step out of the day-to-day operations, building teams that can continue the business without them. This episode challenges the conventional thinking in the private equity world, advocating for a human-centered approach that focuses on long-term value. 

Learning the Hard Way: When a Business Fails

Jed Morris joins co-hosts Jacob Wayman of Wayman Consulting and Sam Foreman of Forman Law to share his experience buying a business that ultimately failed, and the painful lessons he learned in the process. Jed talks about the good and the bad from his experience finding, acquiring and running two businesses. He shares tips from his search process, how too much growth too fast can create problems, and how culture and trust are game changers.
Jed is a US Air Force veteran, New York University alum, and worked for both Amazon Web Services and Microsoft.  Jed is putting his real-world education in the deal process and as a business owner to work as the Managing Director of Sunset Coast Partners, and is actively working to help other business searchers have a successful experience as a business owner.  
Watch the video epsidoe on YouTube: https://youtu.be/gwZweUMc_Xw

Trust Gets Deals Done

Stephanie Siders, investment banker with CC Capital Advisors joins co-hosts Jacob Wayman of Wayman Consulting and Sam Foreman of Foreman Law to discuss the process of successfully selling a business. Sephanie shares practical tips about what buyers are looking for, and how to maximize value in a sale, and why starting to prepare several years in advance can make such a big difference. She shares about the power of trust between the parties, and how losing trust can kill the deal.   
Watch the episode on YouTube: https://youtu.be/RacdtoQFlHQ

Successfully Landing Your Search Process

Business owner Chip Schellhorn joins co-hosts Jaco Wayman of Wayman Consulting and Sam Foreman of Foreman Law to discuss his recent purchase of CMJ Manufacturing. Chip shares about his experience running a successful search process, and insights into the importance of working the search process like a job, keys to identifying a good business, and how to develop and maintain an authentic trust-based relationship with the seller during the deal process and beyond. Chip is a pilot, Navy veteran, and Harvard grad. Prior to purchasing CMJ, Chip served as Director of Sales and Strategy for Textron Aviaton, and founded Girasol Capital.  

Net Working Capital 101: Purchase Price, Financing and Operating Considerations

Ben Olsen, an experienced veteran of over 100 M&A transactions, joins co-hosts Jacob Wayman of Wayman Consulting and Sam Foreman of Foreman Law to discuss net working capital. Ben breaks down the basics of net working capital and how it impacts the operating performance of a business, what the business is worth, and how it impacts price and financing on a deal. Ben explains what a “peg” is and how it fits into the deal process and the post-closing net working capital true-up. Ben is vice president of Tarsus where he advises business owners and C-suite executives seeking to optimize and grow their businesses. 
 
 

Building A Company Worth Buying

Experienced business veteran and author Rick Ralston joins co-hosts Jacob Wayman of Wayman Consulting and Sam Foreman of Foreman Law to share his thoughts on building a company worth buying. Rick brings decades of experience helping CEOs and founders make data driven decisions to grow the enterprise value of their businesses.
Rick shares tips on topics such as real v. perceived value, what separates good companies from great companies, and how the basic economics of the business impact how a buyer looks at its value.
Rick discusses his book “The Forecast: An Inside Look at How Successful Leaders Drive Revenue Growth”.  You can purchase a copy HERE.

Ending Well – Working With an Investment Banker to Maximize Value

Chris Lee, Managing Partner of Infinity Capital Partners joins hosts Jacob Wayman of Wayman Consulting, and Sam Foreman of Foreman Law to discuss the role that investment bankers play in selling a business, and numerous practical tips about increasing the value of a business. Chris shares from his experience about why working with companies in the Midwest is such a great fit for his firm, and how working with an investment banker is more accessible than many business owners expect.
 
Watch the video episode at: https://youtu.be/yI4egvZXZH0