How to Sell Your Business
In this episode of Mind Your Money, Mehul sits down with his longtime friend Howard Ma—Director at Baker Tilly Canada Capital and CFA charterholder—to unpack what really happens behind the scenes when a business owner decides to sell.
Howard shares a clear, investor-minded look at what makes a company “sale-ready” (and what quietly drags value down). They dig into the most common issues he sees when owners come to market too late: flat growth, unoptimized margins, overbuilt equipment and fixed assets, bloated receivables and inventory (net working capital surprises), missing contracts, and businesses that are still too dependent on the owner to generate sales and maintain relationships.
From there, the conversation moves into deal structure—share sales vs. asset sales, why buyers and sellers often want opposite outcomes, and how leverage and market conditions influence what ultimately gets agreed to. Howard also breaks down how offers can differ dramatically depending on the mix of cash on closing vs. earn-outs vs. vendor take-backs, and what he pushes for when negotiating earn-outs so sellers aren’t boxed into “all or nothing” outcomes.
They close by exploring the after-sale reality: the mindset shift from builder to investor, why some successful sellers create family offices, and how overconfidence can lead people to stray outside their lane—especially when moving from real estate success into operating businesses without the right team.
The big takeaway: being emotionally ready to sell isn’t enough. The winners are the owners who start planning early, view their business through an acquirer’s eyes, and give themselves the runway to de-risk the story and maximize value.
This podcast episode has been prepared by Mehul Gandhi, CFP®️, CLU®️, TEP an Estate Planning Specialist and Senior Insurance Advisor for Westmount Wealth Planning Inc. Westmount Wealth Planning Inc. is a subsidiary of Westmount Wealth Management Inc. Westmount Wealth Management Inc. is registered as a Portfolio Manager in British Columbia, Alberta, and Ontario.
This episode contains the current opinions of the host and guests, and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide personalized legal, accounting, tax, or specific investment advice. Please speak to a Westmount Wealth Advisor regarding your unique situation.