• DealQuest Podcast with Corey Kupfer

  • By: Corey Kupfer
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DealQuest Podcast with Corey Kupfer

By: Corey Kupfer
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  • Summary

  • Why do some companies grow by leaps and bounds while others only inch forward? Simple. They embrace Deal-Driven Growth in addition to organic growth! DealQuest is where you learn how to strategize, prepare for, find, and complete deals to grow your company faster.Listen in as host Corey Kupfer takes you behind the scenes with some of the world’s most fascinating deal-savvy business leaders. This is the one place where they can share openly the secret to deals they have done (or failed to do) and the issues, opportunities, benefits, pitfalls and lessons learned.Here you learn first-hand all about:Powerful deals that require little capital Mergers, acquisitions, and tuck-insJoint ventures, partnerships, and strategic alliancesLicensing, raising capital and onboarding key employeesNegotiating, structuring, finding, valuing, closing and integrating dealsDon’t be the one at the table who doesn’t grasp the power of Deal-Driven Growth! See acast.com/privacy for privacy and opt-out information.
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Episodes
  • Episode 286: From Paper Routes to Profit Margins with Richard Parker

    Episode 286: From Paper Routes to Profit Margins with Richard Parker
    Apr 17 2024
    As is the case with many guests of the DealQuest Podcast, this week’s guest, Richard Parker, never envisioned himself as a dealmaker. Parker's journey into the world of dealmaking, however, began early at the age of 12 when he launched his first business endeavor, delivering newspapers and selling subscriptions in his local community. This early venture instilled in him the fundamentals of sales and marketing, laying the groundwork for his future endeavors. Throughout his career, Parker has been actively involved in numerous transactions, assuming roles as both buyer and seller. Each deal has provided invaluable insights, shaping his approach to deal making and bolstering his expertise in the field. Today, Parker is committed to assisting others in realizing their entrepreneurial aspirations. Through his programs and consultations, he shares his wealth of knowledge and experience, empowering individuals to achieve their dreams of business ownership – and he’s here to share this the keys of knowledge base with us today. 5 GOLDEN RULES OF DEALMAKINGIn his years as a dealmaker, Richard has created his own formula for a set of guiding principles that he adheres to when assessing potential business opportunities. These principles have played a pivotal role in his success, and as such, he encourages others to develop their own criteria for evaluating deals. Parker's five golden rules are outlined as follows: Sales and Marketing Driven: Richard prioritizes businesses that are driven by robust sales and marketing strategies, recognizing that revenue generation is fundamental to business success.High Margins: He seeks out businesses with high profit margins, understanding that such margins facilitate increased profitability and long-term sustainability, providing resilience against challenges and fostering opportunities for strategic growth.Element of Exclusivity: Richard looks for businesses offering an element of exclusivity in their products or services, whether through unique offerings or territorial advantages. This exclusivity confers a competitive edge and enhances the business's overall value.Demand in Place: He gives preference to businesses with established demand in the market, recognizing the costliness and difficulty of creating demand from scratch. Investing in businesses with proven market demand mitigates risk and enhances potential returns.Not Competing on Price: Richard steers clear of businesses that compete solely on price, recognizing the inherent pitfalls of such a strategy in the long term. Instead, he focuses on businesses that offer value and differentiation in the marketplace. THE IMPORTANCE OF SPECIFICITY IN DEAL CRITERIAWhen crafting deal criteria, Richard states that it is imperative to be precise and deliberate about the factors that hold the most significance. Richard believes that generic criteria can result in vague and unproductive assessments of potential deals, and he advises dealmakers to look deeply and pinpoint the specific quality and attributes crucial for success in a business venture. For instance, rather than simply expressing a general preference for enjoying one’s work, it hold more weight to identify the underlying motivation behind the desire. Perhaps it stems from a passion for working with children, which can then be translated into a specific criterion pertaining to businesses specializing in children’s products or services. By adopting a specific and intentional approach to defining deal criteria, dealmakers can effectively evaluate potential opportunities and align them with their unique strengths and interests. HOW TO BUY A GOOD BUSINESS AT A GREAT PRICEAre you looking into making serious business purchases? Need a good place to start on how to go about it? Luckily enough, Richard offers a course for just this. The How To Buy a Good Business at a Great Price course featured on Richard’s website is a course designed to help individuals who are thinking about buying a business or franchise. he course provides a comprehensive 548-page guide, along with ancillary resources and interactive tools. It also includes a proprietary valuation software program developed using data from successful and unsuccessful business transactions. Be sure to check out the How to Buy a Good Business at a Great Price course: https://richardparker.com/course/ • • • For my full discussion with Richard Parker, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON RICHARD PARKER:https://www.linkedin.com/in/richparker1/https://richardparker.comhttps://diomo/com Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the ...
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    49 mins
  • Episode 285: The Road to Business Exit with Scott Bushkie

    Episode 285: The Road to Business Exit with Scott Bushkie
    Apr 10 2024
    Mergers and acquisitions, one of the best ways to grow your business, but sometimes it feels like trying to assemble a puzzle in a hurricane - exhilarating, chaotic, and you might end up missing a few pieces. That’s why I’m excited to have Scott Bushkie on this episode of the DealQuest Podcast. Scott is a managing partner and Founder of Cornerstone Business Services, a firm that specializes in offering exit strategies, managing sell- and buy-side transitions, and providing valuations within the lower middle market. With a primary focus on businesses with revenue ranging from $5 to 150 million and an EBITDA between $1 to 15 million, Cornerstone Business Services have collaborated with private equity firms, family offices, and strategic buyers. Scott himself dons over 25 years of experience in providing exit strategies, sell- and buy-side transitions, and valuations. Scott is a go to man to help you turn your hurricane puzzle into a carefully crafted masterpiece, ensuring that all the pieces fit together seamlessly for a successful outcome. STRATEGIC SELLINGStrategy is something we discuss often on the DealQuest Podcast, and in the context of selling, strategy in identifying and targeting specific buyers or investors who can bring the most value to a company is no less important. Business owners need to shift their mindset from just building a successful business organically to thinking like a dealmaker. Successful entrepreneurs and business owners need to focus on creating a valuable and transferable company, rather than just taking cash out of it. This involves planning early, building a team of advisors, and understanding the various options available for exiting the business. For Scott, one of the biggest moves when it comes to strategy is having “the conversation” about exiting the business early on. Business owners should feel encouraged to explore their options and start making well-informed decisions about their future exit strategy – there are more options available than just simply giving their business to children or selling to a local buyer. THE COST OF DOING IT WRONGHolding out too long could cost 40% of a company's value and make it unsaleable. Many businesses sell at a low rate due to mistakes, but educating business owners can increase their chances of success. The issue is that owners often keep their intentions confidential and try to figure things out alone, leading to overspending and poor results. Working with trusted advisers and partners can help increase odds of success. Unsolicited offers may seem perfect for tired entrepreneurs, but they should be cautious and consider consulting trusted advisers before making a decision. ENSURING A FAIR DEALEntrepreneurs might initially feel a sense of relief when they receive interest from a potential buyer for their business. It's crucial, however, to recognize that this doesn't always translate into the most favorable deal. Buyers may capitalize on the seller's emotional connection to the business by telling them what they want to hear. That's why it's so important to collaborate with a professional who can help navigate the complexities of selling a business and secure a fair deal. To maximize the value of their business and prevent leaving money on the table, sellers should consider creating a sense of urgency and scarcity. Scott also emphasizes the significance of professional buyers who are adept at securing advantageous deals for themselves. It's essential for sellers to have a clear understanding of the true market value of their business. To learn more about ensuring a fair deal and navigating the M&A landscape, check out the book Finish Strong: Sell Your Business on Your Terms by Scott Bushkie: https://www.cornerstone-business.com/finishstrong/ • • • For my full discussion with Scott Bushkie, and more on this topic and topics not featured on this blog post:Listen to the Full DealQuest Podcast Episode Here• • • FOR MORE ON SCOTT BUSHKIE:https://www.cornerstone-business.com/https://www.linkedin.com/in/scottbushkie/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
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    48 mins
  • Episode 284: Success in E-Commerce with Stephen Speer

    Episode 284: Success in E-Commerce with Stephen Speer
    Apr 3 2024

    On this episode of the DealQuest Podcast, I have guest Stephen Speer, the founder and CEO of eCommerce Lending Inc., a firm specializing in financing acquisitions, advisory, and search services in the online space.

    With a lending career spanning decades, Stephen and his team have utilized their expertise in assisting hundreds of entrepreneurs in achieving business acquisition success. As an e-commerce lender, guest speaker, and M&A instructor, he and his firm have funded over 500 transactions totaling over $1 million – making eCommerce Lending Inc. the top lender in the country in this very specialized niche.

    NAVIGATING THE COMPLEXITIES OF E-COMMERCE DEALS
    One of the key takeaways of this episode is the importance of patience and strategic planning when navigating the complexities of e-commerce deals. There are various components in e-commerce deals that vary from brick-and-mortar businesses, but there are many similarities including the use of earn-outs, seller equity roles, and seller notes, especially in context of larger deals.

    Stephen emphasized the need for thorough due diligence and a deep understanding of the client's business goals and objectives. It’s about finding the right opportunity, and the need for buyers to be prepared to act quickly when they find it.

    Finding the right advisory services is also a crucial key when making the right deal, as they can guide clients through the deal process – from structuring the offer, to securing the right financing. By leveraging their expertise and industry knowledge, Stephen and his team empower clients to make informed decisions and capitalize on the opportunities within the e-commerce space.

    AI IN BUSINESS ACQUISITION
    In the last 2 years, artificial intelligence (AI) has grown rapidly in its use across all fields. The state of AI in the business world is still in its infancy, and currently focused primarily on seeking startup capital and venture capital.

    When discussing AI in business, some existing companies are buying startup AI companies, while others express fear and uncertainty of the technology. The potential impact of AI on society is both beneficial and potentially negative, and it requires much more exploration and understanding.

    One this is for certain for Stephen, AI cannot have the intricate expertise of M&A advisory and buyer representation when it comes to business acquisitions. Acquisitions are never straightforward, and AI lacks the human capability to work on deal structuring, negotiations, or deal financing. That said, educational technology is a growing segment with high multiples due to recurring revenue, while e-commerce is experiencing some softening, particularly in comparison to the software as a service (SaaS) segment.

    THE POWER OF ENTREPRENEURIAL MINDSET
    As an entrepreneur himself, Stephen understands the power of an entrepreneurial mindset in driving deal-driven growth. His keys to the entrepreneurial mindset are patience, resilience, and adaptability, especially in the face of market uncertainties and evolving market landscapes.

    Stephen’s history from a young owner of a car detailing business to founding eCommerce Lending Inc. reflects the transformative power of entrepreneurship and the ability to seize opportunities in uncharted territories, Which is, arguably, a hallmark staple of an entrepreneur.

    • • •

    For my full discussion with Stephen Speer, and more on this topic and topics not featured on this blog post:
    Listen to the Full DealQuest Podcast Episode Here

    • • •
    FOR MORE ON STEPHEN SPEER:
    https://www.linkedin.com/in/stephenspeer/
    www.ecommercelending.com

    Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

    Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
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    43 mins
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