In this episode of the Big Hitters podcast, Andrew Hathaway interviews Brian Dukes, founding partner of Exitwise, who shares insights on mergers and acquisitions, particularly in the lower middle market. Brian discusses the challenges business owners face when preparing for an exit, the importance of time and energy freedom, and the transformative role of artificial intelligence in the M&A process. He emphasizes the need for business owners to build strong teams and prepare their businesses for sale to ensure a smooth transition.

Takeaways:

• Brian Dukes has helped with over a billion dollars in acquisitions.

• The lower middle market is an underserved area in M&A.

• Many M&A advisors overlook businesses valued under $75 million.

• The failure rate for businesses going to market is over 80%.

• Transparency about business issues is crucial for successful deals.

• Time and energy freedom is essential for personal well-being.

• AI can significantly streamline the M&A process.

• Business owners should focus on building strong management teams.

• Preparation for sale should include financial expertise.

• Work with people you enjoy and prioritize personal relationships.

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