Ep. 249: Michael Mensch & Brenda Sali: Why Use An M&A Advisor When Selling
Apple Podcasts Rate and Review for SpotOn Michael Mensch is the President of Agency Brokerage Consultants, an experienced consulting firm that provides service to those looking to acquire or sell insurance agencies across the United States. Their services include agency market valuations, M&A consulting, and agency sale brokerage. Michael has aided in over 200 M&A transactions and over 1,200 valuations of insurance agencies and brokerages across the United States. He is an active member of the IBBA and M&A Source, a Certified Business Intermediary, and a Certified Merger & Acquisition Master Intermediary. Brenda Sali is the Senior M&A Advisor at Agency Brokerage Consultants. She has worked full-time with the company since 2018. Before joining Agency Brokerage, Brenda owned and operated the vacation rental property management company, BLSali Enterprises, Inc. and has served in executive leadership roles at a variety of companies. Brenda holds a Bachelor’s degree in Finance and Marketing from the University of Regina and holds a certificate for Business Intermediary from Central Florida Business Brokers. Michael and Brenda join us today to discuss how hiring a Mergers & Acquisitions advisor can facilitate a smoother transaction when selling your company or entertaining buyers. They share the pros and cons of doing it independently versus hiring an advisor. They explain the processes involved when you put your company on the market and what happens when you receive multiple offers. They also discuss seller confidentiality, how to properly let the staff know the company will be changing owners, and the emotional side of each transaction. "Confidentiality is imperative when someone is selling their business." - Brenda Sali Today on Spot On Insurance: What drew Michael to the mergers and acquisitions sector in insurance Brenda's experience in Canada and why she wanted to be a pharmacist The pros and cons of selling a business on your own versus working with a Mergers & Acquisitions expert The purpose of the pre-due diligence process in a transaction Why Michael's team conducts due diligence of sellers The importance of the seller to list the names of potential buyers Maintaining seller confidentiality until it's time to sell How to tell the employees the company is being sold without ushering panic What transactions were like pre-COVID, during COVID, and post-COVID Why Brenda is adamant about controlling everything that goes on in a transaction Deal fatigue, buyer frustrations, and the pitfalls of keeping the process too long Managing the emotional part of selling a company or choosing a buyer Why you don't want to negotiate with various buyers throughout the process Key Takeaways: It's better to put your company on the market before you sell it. Hiring an M&A expert can fast track the selling of your company while taking the stress away from you. Resources Mentioned: Episode 50: 6 Steps to Selling Your Agency with Michael Mensch Connect with Michael Mensch: Agency Brokerage Consultants Michael Mensch on LinkedIn Email: mmensch@agencybrokerage.com Phone: (321) 255 1309 Connect with Brenda Sali: Brenda Sali on LinkedIn Email: bsali@agencybrokerage.com This episode was brought to you by….. Insurance Licensing Services of America (ILSA), America’s Premier Insurance Compliance and Licensing experts. To learn more about ILSA and their services, visit ILSAinc.com. Connect, Learn, Share Thank you for joining us on this week’s episode of Spot On Insurance. For more resources and episodes, visit SpotOnInsurance.com. Subscribe so you never miss an episode. Love what you’re learning, Spot Light your review on Apple Podcasts Rate and Review For SpotOn and share your favorite episodes with friends and colleagues!