Written by Guillermo Birmingham
Every week, on what buyers actually read and what it costs an owner not to know. Written for people who would rather understand the mechanics than be sold a process.
No pitch, and nothing held back for a sales call.
Why it exists
The standard advice begins at the point where a business goes to market. By then the record a buyer will read is already written, and the things that would have changed it are years behind you.
The Briefing starts earlier. Each issue takes a question owners actually ask and answers it properly, including the parts that are inconvenient to hear. Where a rule has changed since an earlier issue, a later one says so rather than quietly correcting the record.
Start here
A buyer reads three years of tax returns, and a closed year cannot be amended. By the time most owners start getting ready, the record that sets their price is already written.
You Cannot Fix This in the Last Year → The Exit BriefingTwo firms with the same revenue and the same margin do not fetch the same price. The difference is made of the things a transaction database never records.
Why the Same Business Is Worth Two Different Numbers → The Exit BriefingYour CPA, your attorney and your wealth advisor are each doing the job they were engaged to do. The question of what a buyer will discount sits outside all of them.
Why Nobody Has Told You Yet →The archive
Back issues are left as they were written and dated. Where a rule or a figure has since changed, the correction appears in a later issue rather than being edited into an earlier one.
One issue a week. Unsubscribe whenever you like, and nothing else is ever sent to the address.
If you would rather skip ahead
The value gap estimate takes about fifteen minutes and needs nothing pulled together beforehand. It returns a directional read on what the business is worth today, what it could be worth prepared, and the distance between the two. I review every result myself before it comes back to you.
Bring what you have and what you are thinking about. If a transition is years away, that is the right time to be having this conversation rather than the wrong one.