Too many investors get seduced by EBITDA and end up buying the wrong business. In this episode, Sam Penny dives deep into what really matters when you're buying: fit. Because even a profitable business will eat you alive if the values, leadership style, or vision don’t align with you.

Drawing from 25 years of real-world experience buying, building, and selling businesses, Sam introduces the Buyer Fit Framework—a simple but powerful tool to evaluate whether a business truly suits who you are and how you lead.

This episode is for anyone who's ever looked at a P&L and thought, “This looks good,” but forgot to ask, “Does it feel right?”

What You’ll Learn:

• Why buyers regret poor fit, not high prices.
• The 4 dimensions of Buyer Fit: Values, Leadership, Skill, and Vision.
• How to spot cultural misalignments before they derail your deal.
• The “soft signals” that tell you if a business is truly right for you.
• The red flags that even seasoned buyers miss (and how to catch them early).
• Practical tools to evaluate alignment and de-risk your acquisition.

Free Resources Mentioned:

• 🔍 Business Valuation Report
• 🧭 Leadership Alignment Tool
• 🛠️ Business Buying Roadmap
• 🎯 Strategy Session with Sam: sampenny.com/strategy

Who This Episode Is For:

• Acquisition entrepreneurs looking to avoid post-deal regret
• Investors moving from theory to real-world ownership
• Operators wanting more than just ROI—they want meaning, mission, and momentum

Final Thought:
When the fit is right, the numbers follow. But when it’s not, the deal becomes a burden. Don’t buy a misfit. Buy a business that fits you.

Most business owners think their business will sell because of the numbers — the profit, the growth, the potential. But step into a business broker’s world, and you'll find that's not what kills deals. It’s fear.

In this episode of Built to Sell | Built to Buy, host Sam Penny is joined by Australia’s #1 business broker Sally Stuart, who sold 35+ businesses in just the past two years. Together, they unpack exactly why businesses don't sell — even when the financials look strong — and what actually makes a business irresistible to buyers.

Sally reveals:

• 🔥 The surprising reason most buyers walk away
• 💣 Why your lawyer might be the biggest dealbreaker
• 💡 What makes a business “sexy” and sparks bidding wars
• 🧾 The accounting mistakes that scare buyers off
• 🏢 Why short leases quietly destroy business value
• 🛑 How ego, overpricing, and bad timing sabotage the sale
• ✅ The 3–5 things every owner should do 12–24 months before listing
• 💬 Why a broker isn’t just a sales agent — they’re a dream facilitator

If you’re a business owner thinking of selling, or an investor who wants to understand what really moves the needle in a deal, this episode is your blueprint. Straight from the broker’s mouth.

🔗 Links & Resources:

• 📞 Book a call with Sam Penny: https://sampenny.com/chat
• 📚 Learn more about Sally Stuart: https://linkbusiness.com.au/business-broker/sally-stuart/
• 🔍 Free Business Sale Readiness Report: https://sampenny.com/readiness

⏱️ Timestamps:

• 00:00 – Intro: What really kills deals?
• 02:45 – Sally’s journey into business broking
• 04:00 – What business brokers actually do
• 08:30 – The lawyer trap that destroys deals
• 11:00 – What makes a business spark a bidding war
• 15:20 – The self-sabotage sellers don’t see coming
• 20:30 – How leases quietly crush deals
• 24:00 – Why owner-dependence kills valuations
• 28:55 – What buyers really want (and where they’re from)
• 33:15 – The biggest mistake sellers make around timing
• 36:15 – 5 things to do 12–24 months before listing
• 42:00 – Culture, values, and why your website matters
• 44:00 – Sally’s lightning round: Dealbreakers, red flags & wisdom

🎧 Episode Summary:

Think your business will sell because it's profitable? Think again.

In this powerhouse episode, business coach and advisor Sam Penny reveals the real reason businesses sell—and why the ones that should sell often don't. Spoiler: It's not EBITDA. It's not your P&L. It’s not even your systems.

It’s alignment.

Buyers don’t just want a business that makes money—they want one that feels like home. One that reflects their values, their leadership style, their vision for the future. And when they see themselves in your business? They move faster. They pay more. And they need less convincing.

This episode unpacks how to position your business for a premium exit by focusing on what really drives buyer decisions.

🧠 What You’ll Learn:

• Why buyers walk away from profitable businesses
• The 4 Pillars of Magnetic Positioning™
• How to attract not just any buyer—but the right one
• The surprising type of buyer who’ll pay the most (and it’s not who you think)
• How to build values into your IM, pitch deck, and brand
• A real-world case study where values-based positioning added over $500k to a deal
• Tools you can use today: Business Readiness Report, Brand Mastery Course, Exit Strategy Roadmap

🔑 Key Takeaway:

💥 Bonus:

Sam walks through his step-by-step framework to turn your business into something buyers believe in, not just buy into.

🔗 Resources Mentioned:

• 📊 Business Readiness Report – Assess your sale readiness across 8 value drivers
• 🧭 Brand Mastery Course – Turn your values into a strategic asset
• 📌 Exit Strategy Roadmap – Your plan to increase valuation and reduce risk
  All available at sampenny.com

🎯 Want to Position Your Business for Premium Buyers?

Book a free strategy session with Sam at
👉 sampenny.com/strategy

🔜 Next Episode Teaser:

"Build a Sale Process That Doesn’t Blow the Deal"
Learn how to control the deal narrative, pace the process, and build trust while keeping your power. Don’t miss it.

📱 Subscribe & Review:

Follow Built to Sell | Built to Buy on Spotify, Apple Podcasts or your preferred platform. And if this episode hit home—leave a review. It helps more founders find the insights they need to exit right.

Episode Summary:
In this critical episode of the Built to Sell | Built to Buy podcast, business coach Sam Penny dives deep into one of the most overlooked (yet most expensive) parts of buying a business: risk. Not revenue. Not growth potential. Risk — and how to spot it, quantify it, and price it into your offer.

Whether you're a first-time buyer or a seasoned investor, this session will change how you think about due diligence. Sam breaks down the 3 categories of risk every acquirer must assess — operational, financial, and transfer risk — and reveals the tactics smart buyers use to protect themselves and avoid overpaying.

Learn how to go beyond glossy pitch decks and charming sellers, and start stress-testing the business like a pro. You’ll walk away with real frameworks, tools, and a case study that shows exactly how to reduce risk — and price it into the deal.

🔍 What You'll Learn:

• Why most buyers overpay by ignoring risk
• The 3 core risk categories and how to spot red flags
• How to price risk into your offer and use it to negotiate better terms
• A real-world deal that looked great on paper… until it didn’t
• The tools elite investors use: checklists, red flag sheets, scorecards, and more

📚 Resources Mentioned:

• Free Due Diligence Checklist
• Risk Scorecard
• Red Flag Tracker
• Business Readiness Report
  👉 Available at sampenny.com

🧠 Quote of the Episode:

🎯 Call to Action:

💼 Buying a business? Book a free 30-minute strategy call to gut-check your deal before you sign:
👉 sampenny.com/strategy

🚨 Thinking about selling your business — now or in a few years? This episode is your blueprint. 🚨

Join business coach Sam Penny as he dives deep into the real reason deals fall apart — risk. Not revenue. Not EBITDA. Not potential. But perceived risk.

In this session, Sam Penny dives into how to properly de-risk your deal when preparing to sell. Making your business bulletproof involves removing yourself from daily tasks and ensuring smooth operations. By focusing on de-risking the deal, you make your business more attractive to buyers.

In this powerhouse episode of the Built to Sell | Built to Buy Podcast, you’ll learn exactly how to make your business irresistible to buyers by removing the silent deal killers hiding in plain sight.

🔎 What you’ll learn in this episode:

- Why buyers don’t pay top dollar for potential — they pay for certainty.
- The top 7 hidden risks that scare off serious buyers.
- The exact 5 Deal De-riskers™ Sam uses with his private clients to increase valuations by six figures (or more).
- How to systemise, stabilise, and scale — even if you're not ready to sell yet.
- A real-world case study where a business valuation jumped from $960K to $1.24M without changing profit.
- Why owner dependency, messy financials, and poor handover planning are destroying your multiple.
- How to flip buyer fear into buyer confidence — and command a better offer with cleaner terms.

✅ Whether you’re 12 months from selling or still building, this episode will:
→ Help you identify the risks you can't see because you're too close.
→ Give you a checklist to start removing deal-breakers today.
→ Show you how to increase the value of your business without increasing your profit.

🎯 Want to know how buyer-ready your business really is?
Grab your free Business Readiness Report at https://sampenny.com/readiness

🧭 Ready to work 1-on-1 with Sam to prepare for a high-value exit?
Book your free strategy call at https://sampenny.com/strategy

💡 If you’ve ever wondered:

→ “How do I sell my business for more?”
→ “What are buyers really looking for?”
→ “How do I remove myself from daily operations?”
→ “How do I increase my business valuation without burning out?”

…this is the episode you cannot afford to miss.

🎧 Listen on the go:
Spotify: Built to Sell | Built to Buy
Apple Podcasts: Built to Sell | Built to Buy

📌 Subscribe and turn on notifications so you never miss an episode.

#BuiltToSell #BuiltToBuy #SamPenny #BusinessValuation #HowToSellYourBusiness #ExitStrategy #DeRiskTheDeal #SmallBusinessAdvice #BusinessExitPlan #SellMyBusiness #BusinessBroker #BuyersDueDiligence #SystemiseYourBusiness #OwnerIndependentBusiness #IncreaseBusinessValue #RecurringRevenue #SOPs #CleanFinancials #BusinessReadiness #FreedomFromBusiness

Sam Penny delves into the intricacies of due diligence in business acquisitions, emphasizing the importance of interpreting data beyond the surface level. He outlines key questions buyers should ask, identifies financial and operational red flags, and discusses common seller tricks. Through a real case study, he illustrates how thorough due diligence can save buyers from overpaying and highlights the necessity of asking the right questions to uncover hidden risks. The session concludes with actionable steps for buyers to enhance their due diligence process and make informed decisions.

Takeaways

• Due diligence is about interpretation, not just verification.
• Ask the right questions to uncover hidden risks.
• Smooth financial numbers can indicate manipulation.
• Operational processes should be documented to avoid chaos.
• Normalization games can mislead buyers about profitability.
• Essential documents include detailed P&Ls and staff contracts.
• Direct questions to sellers can reveal deeper insights.
• Real case studies illustrate the importance of due diligence.
• Buyers should be suspicious and thorough in their approach.
• If it's not in writing, it doesn't exist.

Sound Bites

"Don't assume, interrogate."
"Due diligence is your filter."
"Buy it right."

Chapters

00:00 Introduction to Due Diligence
00:31 Understanding the Importance of Insight
00:31 Core Questions for Assessing Deals
00:39 Identifying Financial Red Flags
03:53 Operational Red Flags to Watch For
07:04 Normalization Games: Seller Tricks
10:14 Essential Documents for Due Diligence
13:40 Tools and Metrics for Interpretation
16:53 Asking the Right Questions
19:58 Real Case Study: Due Diligence in Action
23:06 The Golden Rule of Due Diligence
25:26 Next Steps for Buyers
42:07 New Chapter

In this session, Sam Penny discusses the critical role of numbers in selling a business, emphasizing that while branding and storytelling are important, the financials ultimately drive valuation. He outlines key metrics to measure, improve, and present effectively to potential buyers, introducing the core value formula and the eight value drivers that influence business valuation. The session also covers actionable steps for business owners to enhance their valuation and the importance of presenting financials clearly to instil buyer confidence.

Key Takeaways

• Most business owners focus on branding over numbers.
• The numbers must stack up for a successful sale.
• Buyers are looking for cashflow, confidence, and clarity.
• Financial performance is a key value driver.
• Growth potential is crucial for attracting buyers.
• Recurring revenue significantly boosts valuation.
• Owner independence is vital for buyer confidence.
• Systems and processes enhance business value.
• Clean financial books are essential for trust.
• Small strategic improvements can lead to significant valuation increases.

Sound Bites

• "Your numbers are the business story."
• "Predictable revenue reduces risk."
• "Messy books are 100% a deal breaker."

Chapters

00:00 Understanding the Importance of Numbers in Business Sales
03:26 Key Metrics: Measure, Improve, Present
07:35 The Core Value Formula: Profit and Multiple
09:49 Business Sale Readiness and Valuation Reports
11:32 Financial Performance: Key Indicators
12:55 Growth Potential: Assessing Future Opportunities
14:32 Recurring Revenue: The Buyer’s Best Friend
16:39 Owner Independence: Reducing Dependency
18:15 Systems and Processes: Ensuring Repeatability
19:55 Customer Concentration: Risks and Strategies
21:13 Competitive Advantage: Your Unfair Edge
23:00 Clean Books: The Foundation of Trust
24:44 Bringing It All Together: Leveraging Value Drivers
26:27 What Buyers Are Really Paying For
28:01 Where to Start: Actionable Steps for Improvement
29:46 Case Study: Real-World Application of Value Drivers
31:53 The Core Mindset Shift: Selling Cashflow, Confidence, Clarity
33:08 Presenting Your Business: The Importance of Clarity
35:11 Live Q&A: Engaging with the Audience
38:02 Next Steps: Preparing for Future Webinars

In this episode of Built to Sell | Built to Buy, business coach and entrepreneur Sam Penny unpacks the exact steps to unlock the full potential of your business — whether you're preparing to scale, step back, or eventually sell.

If you’re stuck in the weeds, still wearing all the hats, and wondering why your business hasn’t hit the next level, this is the blueprint. Sam reveals how to escape survival mode and instead design a business that’s scalable, transferable, and built to thrive without you.

Learn how to:

• Define a clear and measurable vision for your business
• Systemise operations for freedom and scale
• Delegate recurring tasks to increase enterprise value
• Leverage value multipliers like recurring revenue and IP
• Assess your business like a buyer to unlock hidden growth
• Use a 90-day sprint to break inertia and build momentum

Whether you’re aiming to increase business valuation, reduce owner dependency, or get your time and sanity back — this episode gives you the tools, mindset, and frameworks to do it.

🔗 Get the free Business Sale Readiness Report: sampenny.com/readiness
📅 Book a 1:1 Strategy Call: sampenny.com/strategy

Key Takeaways:

• Most businesses are underbuilt, not broken
• You can't grow if you're the bottleneck
• Systems turn chaos into consistency — and time freedom
• Multipliers like recurring revenue and IP drive valuation
• Thinking like a buyer helps you build like a leader
• 90-day sprints force clarity and execution
• Being the least necessary person is the ultimate goal

🔥 Sound Bites:

• “Your business isn’t stuck. It’s just underbuilt.”
• “The market pays for transferability, not effort.”
• “Systemisation isn’t a cost — it’s a time creator.”
• “A business that works without you is one that’s truly worth buying.”

🕰️ Chapters:

00:00 – Why Most Businesses Stay Small
03:20 – What Does True Potential Look Like?
06:45 – The Hidden Cost of Owner Dependence
10:15 – From Operator to Architect: Your New Role
14:00 – Systemise or Stay Stuck
18:40 – Value Multipliers That Boost Valuation
23:10 – How Buyers Score Your Business (Even If You’re Not Selling)
27:45 – The 90-Day Sprint That Changes Everything
32:00 – The Mechanics of Freedom & Scale
35:00 – How to Get Your Business Sale Ready