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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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Most business owners think their business will sell because of the numbers — the profit, the growth, the potential. But step into a business broker’s world, and you'll find that's not what kills deals. It’s fear.
In this episode of Built to Sell | Built to Buy, host Sam Penny is joined by Australia’s #1 business broker Sally Stuart, who sold 35+ businesses in just the past two years. Together, they unpack exactly why businesses don't sell — even when the financials look strong — and what actually makes a business irresistible to buyers.
Sally reveals:
- 🔥 The surprising reason most buyers walk away
- 💣 Why your lawyer might be the biggest dealbreaker
- 💡 What makes a business “sexy” and sparks bidding wars
- 🧾 The accounting mistakes that scare buyers off
- 🏢 Why short leases quietly destroy business value
- 🛑 How ego, overpricing, and bad timing sabotage the sale
- ✅ The 3–5 things every owner should do 12–24 months before listing
- 💬 Why a broker isn’t just a sales agent — they’re a dream facilitator
If you’re a business owner thinking of selling, or an investor who wants to understand what really moves the needle in a deal, this episode is your blueprint. Straight from the broker’s mouth.
🔗 Links & Resources:
- 📞 Book a call with Sam Penny: https://sampenny.com/chat
- 📚 Learn more about Sally Stuart: https://linkbusiness.com.au/business-broker/sally-stuart/
- 🔍 Free Business Sale Readiness Report: https://sampenny.com/readiness
⏱️ Timestamps:
- 00:00 – Intro: What really kills deals?
- 02:45 – Sally’s journey into business broking
- 04:00 – What business brokers actually do
- 08:30 – The lawyer trap that destroys deals
- 11:00 – What makes a business spark a bidding war
- 15:20 – The self-sabotage sellers don’t see coming
- 20:30 – How leases quietly crush deals
- 24:00 – Why owner-dependence kills valuations
- 28:55 – What buyers really want (and where they’re from)
- 33:15 – The biggest mistake sellers make around timing
- 36:15 – 5 things to do 12–24 months before listing
- 42:00 – Culture, values, and why your website matters
- 44:00 – Sally’s lightning round: Dealbreakers, red flags & wisdom
26 episodes
