Entrepreneurs on Fire The Buyer of Your Business is a Full-Time Predator and You're Part-Time Prey - Armor Up with Kirk Michie: An EOFire Classic from 2022
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Jan 11, 2026 Kirk Michie, founder of Candor Advisors and seasoned advisor to entrepreneurs, dives deep into the emotional dynamics behind selling a business. He reveals that clarity of purpose is key; many sellers face regrets due to vague motivations. Kirk outlines common pitfalls like poor M&A counsel and weak deal structures that lead to lost value. He emphasizes the necessity of strategic planning years in advance to truly convert success into value. Unpacking the emotional layers of entrepreneurship, he guides founders to ensure their journey ends on a high note.
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Post-Sale Regret Isn’t Just About Money
- Sellers often feel disappointment after a sale because the emotional payoff and cash structure don't match expectations.
- Moving from running a business to market investments creates identity and risk-shift challenges that fuel regret.
Bring Experienced M&A Advisors
- Do hire experienced M&A counsel or transaction professionals who have many reps in the M&A gym.
- Avoid giving away too much information too soon or taking a buyer's valuation at face value.
Match Sale Method To Your Desired Outcome
- Decide your preferred outcome (e.g., all-cash closing vs. rollover equity) before choosing a sale process.
- Match the sale method and advisor incentives to your why rather than defaulting to big investment banks.
