Have you ever wondered what makes a business sale more than just a financial transaction—what turns it into a meeting of minds, values, and vision? In a recent episode of the Exceptional Companies Podcast, I sat down with entrepreneur Tato Corcoran to uncover exactly that: how to find the buyer who’s not just “able,” but right for your business.
1. Start with Profit First: Remove Emotion, Focus on Results
“Profit First really allowed us to kind of think through that in a systematic, vanilla way where it’s not emotional and I’m just looking at the returns.” —Tato Corcoran
I use Profit First to sweep excess cash into a dedicated profit account each month, and suddenly, every opportunity must compete on pure return alone. Should I buy another company, rehab a rental property, or reinvest in our core business? Profit First makes it a numbers game, not an emotional one.
2. Be Intentional About Your Circle
“All businesses is a collection of people—it’s a collection of customers, a collection of employees.” —Tato Corcoran
“If you want to be a high-achieving owner—or one day sell to one—pay attention to who you’re around,” Tato told me. I couldn’t agree more. Seek out people doing what you aspire to do. Start local: Maybe it’s the coffee-shop owner down the street. Grow from there. Those connections shape your model long before you ever list your equity.
3. Define Your “Buyer Avatar,” Early and Often
“Even if you have no intention of selling in the next 10 years, plan for it now.” —Tato Corcoran
Most sellers wait until their exit is imminent to worry about the right buyer. Instead, map the traits of your ideal future steward—industry experience, cultural fit, growth mindset—and build toward that profile every year. That way, when life throws its inevitable “D-word” (disability, divorce, death), your business is already set up for a smooth handoff.
4. Culture and Competence: The Two Pillars
Tato shared how her seller admitted she “made no sense on paper,” yet invested in her drive and intentionality. Today, she leads eight full-time team members who know she’s “one of them” because she learned on the job, even without prior construction experience.
I reminded her (and our listeners) of a Wall Street Journal article warning doctors about roll-ups under private-equity groups that “generally are very poor operators” and lack real-world business experience. If you value legacy, culture, and stewardship, these soft factors must carry as much weight as your EBITDA multiple.
5. Systems Are the Secret Weapon
“We mapped every process on paper, but it’s still dependent on me and a couple others—it’s holding us back from growth.” —Tato Corcoran
Neither of us wants a business that lives only in our brains. Map every key process, then invest in technology to automate and scale. When your ideal buyer steps in, they inherit a living engine, not a founder-centric liability.
6. Live Your Exit—Every Day
I’ve applied the same mindset to my real-estate portfolio: we rehab foreclosures, track returns, and even sold mineral royalties at a 3× gain to fund a new business projected to deliver 10× in 12 months. By setting crystal-clear goals (profit margins, headcount, personal workload), tracking progress quarterly, and reallocating capital to the highest-return assets, you build enterprise value as if your exit is already on the calendar.
7. Shark-Tank Investing: Bet on the Person
“I love Shark Tank—sharks often say, ‘I invest in the entrepreneur, not the business.’” —Tato Corcoran
That’s the crux of any successful acquisition: people over paperwork. If you and your buyer share drive, values, and mutual respect, everything else follows.
Whether you’re three years in or eyeing an exit decades away, these principles—Profit First, intentional networking, early “buyer avatars,” people-first culture, robust systems, daily exit planning, and betting on the person—will help you create a business that not only thrives under your leadership, but also attracts the right next steward when the time comes.
AND MORE TOPICS COVERED IN THE FULL INTERVIEW!!! You can check that out and subscribe to YouTube.
If you want to know more about Tato Corcoran, you may reach out to her at:
- Website: https://www.brandtmarble.com/
- LinkedIn: https://www.linkedin.com/in/tatocorcoran/
- Email: ta*******@***il.com
Connect with Chris Seegers:
- Website: https://exceptionalcos.com/
- Email: Ch***@************OS.com
Other Resources:
- Books: Selling Main Street by Chris Seegers
