E273: Are You Making This Mistake? – Why 80% of Small Businesses NEVER Sell

Watch Here: https://youtu.be/2Q11T0Dnvu4About the Guest: Mike Finger is the founder of Exit Oasis, a platform dedicated to helping small business owners prepare for successful exits. A former business owner himself, he learned the hard way that not every business is sellable. After a wake-up call from brokers who told him his company wasn’t worth buying, he spent years transforming it into a sellable asset. Today, he coaches owners on how to create businesses that are both profitable and sellable, whether they want to exit or simply work less.Summary: Most small business owners believe they’ll sell their business whenever they’re ready. The harsh reality? Most businesses don’t sell. In this eye-opening episode, Mike Finger, founder of Exit Oasis, sits down with Ron Skelton to expose the myths around small business exits. With personal experience transitioning from burned-out owner to successful seller, Mike breaks down the three fundamental questions every owner must answer to create a sellable business. This conversation is a wake-up call for entrepreneurs who assume their business is ready for sale—when in reality, it may not be sellable at all.Key Takeaways:Most businesses never sell – The industry loves success stories, but the real numbers show that most owners fail to transition their businesses.Sellability starts long before you decide to sell – Owners should focus on making their businesses ownable first. If you can step away without the business collapsing, it’s far more attractive to buyers.Three critical questions determine sellability – Does your business generate desirable results? Can a buyer duplicate those results? Can you document those results?Tax strategies can sabotage sellability – Owners who “minimize” profits for tax purposes are also minimizing the value buyers see in their business.Buyers want proof, not promises – Handshake deals and back-of-the-napkin accounting don’t inspire confidence. If it’s not on your tax return, it doesn’t exist to a buyer.Cash-heavy businesses raise red flags – Many owners say, “a lot of cash walks in the door.” Buyers hear: “I don’t report my real income.” If you want top dollar, run a clean operation.You can’t replace decades of knowledge overnight – Many buyers overestimate their ability to replace an owner who has spent years mastering their business. Experience matters.Start preparing now, not when you’re burned out – Most owners wait too long to think about an exit, and by the time they’re desperate to sell, they’ve already devalued their business.--------------------------------------------------Contact Mike onLinkedin: https://www.linkedin.com/in/mike-finger/Website: https://exitoasis.com/--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: [email protected]'t Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/🎬SUGGESTED VIDEOSDon't forget to watch 📽 Our other videos. Please check them out :▶️Previous Episode: E272: How to Buy a Business with Almost No Money: SBA Loan Strategies & Franchise Goldmines - https://youtu.be/d01ccqcb1lY▶️E135: Sam Rosati On His Journey From Being A Lawyer To Becoming An Entrepreneur In The ETA Space - https://youtu.be/D2qJOidptRA▶️E100: CEO Of Flippa Blake Hutchison Discusses Innovations In Buying And Selling Digital Assets - https://youtu.be/R1D5guQU9Z0#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.