How to Get The Most Value When Selling Your Business

·25 min·2 clips

Cameron Bishop blew his first acquisition deal by focusing on contracts instead of reading people.

Host Adam Torres introduces Cameron Bishop, Managing Director and partner at Raincatcher, an investment banking firm focused on the lower middle market. Bishop shares his mission to help privately owned and family businesses sell their companies, as many lack children interested in taking over. He recounts his unusual career path, starting as an advertising copywriter before moving into acquisitions, where he learned from early mistakes, such as failing his first deal by not understanding people. Bishop transitioned to investment banking after 35 years in private equity-backed companies, joining Raincatcher for its alignment on mission and values. He describes the lower middle market as companies with $1-15 million in EBITDA, often overlooked by big investment banks and business brokers. Bishop notes that 10,000 baby boomers retire daily, creating a surge in businesses needing sale, with owners typically having no M&A experience. He explains the emotional and technical complexities of selling, comparing it to 'Dr. Phil work' to manage owner stress. Bishop emphasizes the importance of competitive bidding to maximize value, warning that a single offer often undervalues a business. He shares two contrasting stories: a well-prepared construction company that sold for $28 million after multiple bids, and an automotive tech company with poor accounting that was unsellable. Bishop advises business owners to hire experts for M&A processes, as professionals more than pay for themselves. He outlines a typical nine-month timeline from engagement to sale closure, with additional years needed if a business requires fixes. The episode concludes with Bishop inviting listeners to contact Raincatcher for guidance.

As heard by us

Selling a business is both a valuation exercise and a personal process.

Adam Torres and Cameron Bishop spend the episode on the hardest part of selling a business: turning years of work into a negotiated transaction.

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Why you'd press play

When the spreadsheet will not hug you back, this is the calmer seller-side guide.

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