2/12 | Normalized EBITDA
The profit on your financial statements is almost never the number a buyer will use to write your check. Why? Because your accountant and buyer have different goals.
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Deep dives into the mechanics of valuation, deal structure, and exit readiness.
The profit on your financial statements is almost never the number a buyer will use to write your check. Why? Because your accountant and buyer have different goals.

12 practical and useful articles to transform your vision of business transfers. The real rules of the game: multiples, normalized EBITDA, risks, buyers, timing, LOIs, and the reality after a transaction. No theory. Just real-world lessons, from founder to founder. Our goal is simple: to help entrepreneurs understand their value, increase their options, and maintain control. Whether you're preparing to sell in 6 months, 6 years, or simply building a stronger business.
"It’s worth 5x or 6x." That is probably the most dangerous phrase in M&A. Not because it’s false, but because it’s incomplete.