A Guide To Selling Your Business With Matt Cohen

Matt Cohen

Matt Cohen is a Partner at Synesis Advisors, a San Francisco-based firm specializing in the sale of privately held businesses. Matt has successfully closed over one hundred transactions across industries such as healthcare, manufacturing and distribution, and other services-based businesses. Known for his mastery of the sales process, meticulous attention to detail, and client-focused approach, Matt ensures his clients are correctly positioned to get their businesses sold. Matt is a Certified Business Broker (CBB) and a member of the California Association of Business Brokers (CABB) and the International Business Brokers Association (IBBA).

Here’s a glimpse of what you’ll learn:

[2:35] Matt Cohen gives an overview of what they do at Synesis Advisors
[4:26] The first question every business owner must ask before selling
[8:00] Helping sellers shift their mindset to view their business through a buyer’s lens
[11:31] How years of preparation in leadership structure can make or break a future sale
[13:46] Why handshake agreements with clients and vendors are a major red flag for buyers
[14:53] The overlooked importance of written contracts and assignment clauses in business sales
[17:15] How Matt identifies serious buyers versus “tire kickers” in today’s noisy market
[24:09] Common roadblocks during the due diligence process
[30:14] Assembling the ideal financial and legal team before selling a business
[36:56] Biggest mistakes business brokers make

In this episode…

Selling a business is one of the most significant and emotional decisions a business owner will make. While most owners are confident operators, navigating a successful sale requires a very different mindset and a specific playbook. So what does it really take to move from wanting to sell to a closed deal?

According to Matt Cohen, a business broker with over two decades of experience, the process starts with viewing the business through the buyer’s lens. He highlights that many deals fall apart because sellers underestimate the importance of terms, deal structure, valuation, and risk mitigation from the buyer’s side. Simply having a profitable business isn’t enough to maximize its sale price; it needs to be transferable and justifiable in the eyes of a cautious buyer. Matt explains how everything from handshake contracts to overreliance on the owner to mispricings can derail a deal and why the real work begins before a business is listed for sale.

In this episode of the Pillar6 Podcast, host Roman Polnar sits down with Matt Cohen, Partner at Synesis Advisors, to discuss how business owners can prepare for a successful sale. They cover the biggest misconceptions about pricing and terms, how to structure your company for buyer confidence, and what to expect during due diligence. Matt also shares tips for assembling a trusted advisory team to guide the process.

Resources mentioned in this episode:

Quotable Moments

“The most important thing a business owner can do is speak to an experienced business broker.”
“Every deal has reasons why some structure has to be implemented to mitigate the buyer’s risk.”
“Accountants… I call them the priests or the rabbis of this millennium.”
“You must have contracts. They must have an assignment clause, not unreasonably withheld.”
“Getting a listing doesn’t mean you’re going to sell it unless it’s properly priced and positioned.”

Action Steps

Start planning your exit years in advance: Early preparation gives you time to fix structural issues and increase business value.
Assess if your business is truly sellable: Understanding your company’s transferability helps avoid wasted effort and sets realistic expectations.
Document key contracts and relationships: Written agreements with assignment clauses protect deal continuity and reduce buyer risk.
Build a strong second-tier management team: Delegating responsibilities makes the business less dependent on you and more attractive to buyers.
Stress test potential buyers before sharing data: Vetting buyer motivation and qualifications safeguards confidentiality and saves time during due diligence.

Sponsor for this episode

This episode is brought to you by Pillar6. Pillar6 is a wealth advisory firm for successful individuals and families with active lifestyles.

Our clients appreciate having clarity and control over their finances and the peace of mind in knowing that their financial decisions are aligned with their core values, goals, and priorities. We provide financial planning services and wealth management services.

Schedule your complimentary discovery call to talk to us.

To learn more, go to www.pillar6.com or you can email us at hello@pillar6.com.