Episode 53 - David Gates | Gates and Company

In this episode, Brian has an insightful conversation with David Gates, President & Managing Director of Gates & Company. Started in 1999 as a management consulting firm, David shares how his company has evolved into a business-sale preparation & execution firm, working strictly with technology-driven businesses. David explains why business owners need to start thinking about the sale of their business well before they're actually ready to execute a sale, and Brian chimes in with a comparison that makes it easy to understand. Find out how David takes his bachelor’s in computer science and electrical engineering, a master’s in electrical engineering and an MBA from Wharton, to position Gates & Company as the go-to B2B firm to assess businesses to develop strategic plans for highest possible valuation at time of sale. If you are an entrepreneur, want to be one, or are thinking about selling your business one day, you won’t want to miss this episode. There are so many valuable takeaways packed into this podcast. Key takeaways: The importance of being niche while differentiating your business David reveals his approach to building a strong team so clients feel confident in hiring his company The common mistakes people make when it comes to selling their business The emotional side of selling a business and how to prepare for the sometimes volatile sale process If you only have 10 minutes: 2:05 - Learn about the evolution of Gates & Company 6:50 - David’s background 11:06 - The event that sets apart an actual entrepreneur from just a wannabe 15:30 - Growing the business in Germany 22:00 -Do people wait too long to sell their businesses? 28:15 - Emotions wrapped up in selling 35:30 - How does the current economy impact an owner who is on the fence about selling their company? It was a great show, David, thanks for coming on! Cheers! 🍻 HAPPY ½ HOUR DRINKS: Iron Hill Brewing Company - Galactic Stardust - Brian gave it a 4 out of 5: https://untappd.com/b/iron-hill-brewery-galactic-stardust-ipa/4814342 Bavarian Weissbier (Gates & Company has an office in Munich!) Read more about David: Gates & Company Website: Gatesandcompany.com Gates & Company LinkedIn: https://www.linkedin.com/company/gates-and-company/?trk=hb_tab_compy_id_82259 Learn more about Rivers Edge Advisors: riversedgeadvisors.com/ Connect with Brian Carney on Instagram @riversedgeadvisors_llc Connect with Brian on untappd.com - brcarney7 More episodes: happy-half-hour.com