In this episode, Ryan sits down with Steven Hanson from Transworld Business Advisors, the largest business brokerage firm in the country. With a unique background ranging from geology to serving as the VP of a major medical device company, Steven shares his expert insights on how to successfully navigate the world of buying and selling businesses. Steven and Ryan discuss the current state of the market, noting that while the “Silver Tsunami” of retiring Baby Boomers is bringing more businesses for sale, there are still far more buyers than sellers. Steven warns against expensive seminars that promise you can buy a business with “no money down,” explaining why sellers won’t accept notes that don’t pay out for a decade. In this episode, you will learn:
- Start Small: Why buying a “boring” business or a small pizza parlor is often the best way to get your entrepreneurial start.
- Buyer Credibility: Why you need a resume, a bio, and proof of funds to get a seat at the table with a broker.
- Valuation Reality: How brokers determine the true value of a business versus what a seller “needs” to retire.
- The 2026 Market: Why Steven is bullish on the market for 2026 and expects strong activity from Main Street to the lower middle market.
- Corporate to Entrepreneur: How Steven transitioned from the corporate world to owning his own brokerage office in San Diego.
Whether you are a first-time buyer looking to leave your corporate job or a seasoned entrepreneur looking for your next acquisition, this episode is packed with practical advice on closing the deal.
Key Chapters:
0:00: Introduction
2:41: Meet Steven Hansen & Transworld Business Advisors
4:24: From Geologist to Medical Device Executive
8:17: Learning M&A and Building Sales Teams in Corporate America
12:08: Transitioning Executive Skills to Business Brokerage
15:14: “Bob’s Auto Shop”: Is the Owner the Face of the Business?
17:54: Valuation Reality: The “Need” vs. The Market Value
22:09: Managing Unrealistic Seller Expectations
24:15: Market Dynamics: Supply, Demand, and the “Silver Tsunami”
29:26: How Buyers Can Build Credibility with Brokers
33:10: Private Equity Algorithms vs. Individual Buyers
36:40: Vetting Buyers: Proof of Funds & The “Johnny” Horror Story
41:54: The “No Money Down” Seminar Myth
45:02: SBA Lending Realities: Are You Ready to Drive?
47:58: The Dangers of Proprietary Searches (Cold Calling Sellers)
50:35: Why Professional Intermediaries Protect the Deal
55:27: 2026 Market Outlook & Closing Thoughts
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