The Apex Business Advisors Podcast

Andy and Doug are joined once again by Friend of the Show Valerie Vaughn to break down why understanding business valuation is essential to successful exit planning. They cover the Exit Planning Institute framework (Discover, Prepare, Decide), the value of getting a ballpark valuation early, and how to use valuations as an annual measuring stick to guide growth and transition decisions.

Listeners will learn practical next steps: as...

Andy and Doug welcome returning guest Valerie Vaughn to discuss recent closings and the realities of a competitive buyer market. They walk through a repeat buyer’s journey, from selling a business in 2024 to searching and finally winning the right acquisition.

The episode breaks down real deal comparisons: how a 5% price gap, down payment size, financing structure, and the overall capital stack influence seller decisions. They emph...

Andy and Doug break down a common but costly problem for business sellers: running personal expenses through the company aka add backs and how that practice destroys value and scuttles deals. Using real examples from current engagements, they discuss cases with 30–40% of SDE tied up in personal expenses and explain the buyer and bank perspective.

Topics include valuation approaches (SDE vs. EBITDA), why lenders — especially SBA‑bac...

Andy and Doug share the unique case of seller remorse after closing. They unpack a deal where the seller tried to back out after paperwork and funds were finalized, and the reasons behind the panic — from not reading 100+ pages of documents to being locked out of systems when ownership transferred.

They discuss practical lessons for buyers and sellers: clear communication, documented training plans, locking and transferring system ...

Andy and Doug unpack a recent deal that raised multiple red flags and share practical lessons on buyer diligence. They discuss real examples — a private equity buyer with no website, flimsy pitch materials, and unverifiable funding — and how those issues forced them to pause an LOI and protect the seller.  

The episode covers why the digital footprint matters, what basic buyer information to collect (funding source, past acquisiti...

Andy and Doug celebrate the podcast's 200th episode while reviewing four years of growth and key lessons from 2025. They discuss firm milestones—new offices, expanded advisor team, over 100 deals closed—and operational improvements like professional CIMs, a refreshed website, and a disciplined approach to pricing and buyer qualification.

The episode covers industries that performed well (HVAC, electrical, residential services, heal...

Andy and Doug walk listeners through a real-world 30+ page Letter of Intent, explaining the sell-side advisor’s role and the practical steps sellers should take when an LOI arrives. They discuss how to spot deal structure and financing terms, what to expect in due diligence, and when to involve attorneys.

Topics covered include purchase price and structure, seller financing and preferred equity, earnouts, working capital adjustment...

Andy and Doug discuss a recent near‑$50M retail deal that failed to close, exploring how high revenue masked critical issues like bloated overhead, supplier pricing ties to brick‑and‑mortar operations, and unclear divisional accounting.

The episode covers the market’s reaction to the deal, buyer interest in an e‑commerce carve‑out, requirements from lenders (including QOE reviews), common buyer types (from underfunded dreamers to e...

Andy and Doug recap their takeaways from the M&A Source Fall Conference in Phoenix, comparing IBBA vs. M&A Source formats, deal rooms, and buyer mandates.

They highlight practical lessons for sellers and advisors: the enduring importance of EBITDA, the need for operational/sales/finance leadership beyond the owner, the rise of sell‑side Quality of Earnings/Valuation work to reduce retrades and speed closings, and the growin...

Join hosts Andy Cavanaugh and Apex president Doug Hubler in this Best Of Episode for a live recording at the Entrepreneurs Alliance as they walk through real-world "Seller Blunders" that derail transactions. The episode covers common pitfalls such as running personal expenses through the business, unfiled tax returns, misreported finances, commingled revenues, and improper staff reductions.

Doug and Andy share true stories and prac...

Andy and Doug recount a two‑year sale that survived ghosted buyers, retrades, PPP/EIDL complications, state licensing hurdles in the home healthcare space, and multiple competing offers. Hear how cash buyers and private funding ultimately got to close, why membership interest transfers mattered for licensing, and how the team handled diligence, QofE challenges, and buyer qualification.

Key takeaways include the importance of strate...

Andy and Doug break down a recent liquor-store sale in Iowa — a deal that started as a 2022 planning conversation and ended in a fast, bumpy close. Topics include the differences between title-company and attorney-state transactions, valuation and deal allocation between business and real estate, and the critical role a broker plays when a named buyer struggles to get bank financing.

They discuss challenges with a hotel-owner buyer...

In this episode of the Apex Business Advisors Podcast, Andy and Doug discuss the real-time impacts of a multi-week government shutdown on SBA-backed business closings. They share examples of delayed deals, explain the importance of SBA numbers and IRS tax transcripts, and contrast private funding with bank/SBA funding.

Doug and Andy lay out actionable steps for buyers and sellers: push your lender to request SBA numbers and tax tra...

Andy and Doug discuss when to sell your business and why timing the market is less important than being prepared. They cover key topics such as cleaning up financials, documenting operations, building succession plans, how banks view seller expenses, and the reality of seller financing.

Using real seller stories and examples, the episode explains how life events can force a sale, why planning early (even in your 30s or 40s) matters...

Today we walk through a recent closing of a bakery production business that faced months of delays. We discuss why the sale paused after a confidentiality breach, how buyer financing choices (refusing SBA) created extra hurdles, and the role of seller financing and property collateral in getting the deal done.

The episode covers concrete complications — slow or nonresponsive appraisers and attorneys, title adjustments, additional c...

Andy has moved into a different drop down box on the IBBA experience category. In this episode, he is here to share the wisdom of a grizzled old vet. 

Key topics include managing multiple deals (he describes having six deals under contract), teaming up versus representing both buyer and seller, handling client emotions and conflict, building systems and teams to scale, and the “thousand day” advice for new brokers.

Practical takeaw...

Today, we recap two recent closings that included returning buyers who chose Apex to re-sell their companies, how seller financing accelerated one transaction to about 60 days, and how bank/SBA rule changes stretched another closing past the typical 90-day target.

Key takeaways: deals rarely follow a linear Gantt chart, seller financing can speed closings, bank rules can cause unexpected delays, and persistence pays off — Apex hand...

In this episode of the Apex Business Advisors podcast, Andy and Doug discuss the difference between good and bad seller financing, why bank scrutiny and rising interest rates make seller financing more relevant, and how creative deal structures can help transactions close.

 

Topics covered: unbankable businesses, dirty books and ad-backs, the impact of interest-rate changes on debt service and buyer affordability, structuring selle...