
Nick McLean
@Nick4Pillars
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Founder of Four Pillars Investors | Lower Middle-Market Private Equity
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Joined January 2021
Know your buyer before the deal, or risk surprises during and after the sale. Not all buyers are created equal. SBA buyers and private equity (PE) buyers have very different approaches, priorities, and expectations. SBA buyers are typically individual entrepreneurs or small
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Excited to share that I’ll be speaking at an upcoming Mizzou Alumni Association virtual event: It’s called, “Networking… Now What?” We’ll be talking about how to stay connected and build professional relationships in today’s world of networking through social platforms. This
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If you can’t clearly explain your competitive edge, a buyer will assume you don’t have one. Differentiation isn’t just marketing. Buyers want to know why customers choose your company over alternatives. Is it your technology? Process? Market positioning? Being able to
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Selling isn’t about standing your ground and proving certainty in your business; it’s about showing adaptability. Many business owners anticipate offers without understanding what buyers truly want. The ones that sell smoothly and at a premium take the time to ask questions,
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If you left tomorrow, could your business run? Buyers notice when key decisions, relationships, or tasks live only in your head. Document processes, train employees, and delegate effectively. Build redundancies and clarify responsibilities so the business doesn’t hinge on a
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Stubbornness can kill a deal faster than low offers. Rigid expectations on timelines, concessions, or negotiations can scare buyers away faster than numbers ever could. Successful deals come from understanding which points truly matter and being willing to bend on the rest.
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When it comes time to sell your business, one of the first questions is often: “Should I hire a banker or broker?” For many owners, the answer is yes. For some, it’s no. But for most, it’s probably the right call. Before we get into it, let me be clear: I’m not here to tell you
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One big client might feel acceptable to you. To buyers, it’s a red flag. Dependence on a single customer or just a few projects increases risk. Buyers don’t have your history, relationships, or assurances. Show diversification through repeatable sales, multiple clients, and
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Two deals. Same valuation. Completely different outcomes. A business sale isn’t just about the purchase price. Elements like earnouts, seller financing, timing, and contingencies all influence the final outcome and your experience as a seller. Two deals with the same headline
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Quick reality check for business owners: Who runs your business: your people or your systems? When key tasks and decisions live in the heads of a few individuals, the business feels fragile to buyers. Personality-driven operations create risk: if someone leaves, problems will
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Most large PE firms don’t want to buy your business. They want to turn what you’ve built into something that fits into their “box.” They often immediately cut costs. Stripping out what made it great in the first place (AKA the “strip and flip” model). I don’t believe in that.
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Hey, New York — Brian thinks he's our new CFO. We gave him a stage to prove it.
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Most large PE firms don’t want to buy your business. They want to turn what you’ve built into something that fits into their “box.” They often immediately cut costs. Stripping out what made it great in the first place (AKA the “strip and flip” model). I don’t believe in that.
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If your best employee left tomorrow, would your business run the same? In small businesses, it’s common for key tasks to live in people’s heads. But buyers see that as fragile. They can’t help asking, “What happens if that person leaves?” Documenting processes turns
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When buyers look at your business, they’re not just asking, “Does it make money?” They’re asking, “What makes this company unique?” If you can’t explain what sets you apart, that’s a problem when it comes time to sell. Buyers aren’t just purchasing revenue streams, they’re
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The buyers who can actually close aren’t looking for perfection. They’re looking for fit. In my experience, it’s common for owners go into the sale process with a fixed script in their heads: “This is the number. These are the terms. Take it or leave it.” But real buyers don’t
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Not all buyers are created equal. Two buyers could offer the same price for your business. But the experience, expectations, and outcomes can be completely different depending on who’s on the other side of the table. SBA buyers tend to be individual entrepreneurs or small
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Valuation remains a concern. Project-based businesses trade for less even with significant repeat business.
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With focused diligence on margin normalization and concentration, we see a credible path to expand their current operations, and professionalize GTM, thereby enhancing predictability and valuation without heavy capex.
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Verdict: Move Forward The business combines resilient, repeat revenue with premium margins, a skilled and stable workforce, and clear, capital‑efficient levers to scale.
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Plus Therapeutics announces the signing of a national agreement with UnitedHealthcare Insurance Company, covering over 51 million people throughout the US, to provide the CNSide® Cerebrospinal Fluid Tumor Cell Enumeration LDT. Nasdaq:PSTV, NYSE:UHC
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