*The LOI Gets Signed (Then Deal Fatigue Eats You Alive) S2 Ep 67

* Selling your business feels exciting until the process punches back.

What is a buyer actually buying? Are you improving the business, or just spending money on stuff they don't value? And what happens when you sign the LOI and realize the hard part just started? This is episode 67. The Bros move from maximizing value into the actual process of selling your business. And the process is not cute. Brian lays it out fast: the best day is the letter of intent. After that, it goes downhill and you pray for the thing to end. Brad walks through the banker, the teaser, the CIM, the IOI, the LOI, the purchase agreement, and all the fees hiding between those letters. Then the real gut punch: Brian's company was one week from closing in March 2020. Five or six months of diligence, negotiation, and exhaustion. Then COVID hit, the buyer called it an act of God, and the deal died before the checks got signed.

*YOU'LL DISCOVER* • Why deal fatigue hits harder than most owners expect • Why a $50,000 pizza kitchen can be a waste before a sale • What a good investment banker actually does for the money • Why the wrong banker learns your industry on your dime • What teaser, CIM, IOI, LOI, and purchase agreement really mean

*WHAT ACTUALLY WORKS* • Know what the buyer values before you start improving things • Keep running the business while buyers evaluate you in real time • Hire a banker who already knows your space and your likely buyers • Treat the sale like a 6 month process, not a weekend project

*WHO THESE GUYS ARE* Brian Balduf built and sold VHT Studios. Brad Balduf scaled By Your Side Autism to 11 centers and 550+ employees. Matt Croke hosts and asks the questions nobody else will.

*THE UNCOMFORTABLE TRUTH* "The best day is the day you agree to a letter of intent or a term sheet. Then it just goes downhill from there." Selling your business someday? What part scares you most, finding buyers, paying the banker, or surviving diligence?

👇 SUBSCRIBE for new episodes every Friday. Real stories. No LinkedIn energy. *TIMESTAMPS* 0:00 - Deal Fatigue Warning Shot 0:41 - Salmon, Not Salmon 1:18 - Maximizing Before You Sell 3:00 - The $50,000 Pizza Kitchen Mistake 5:31 - Running a Tight Ship Is Table Stakes 8:46 - Taking Your Company to Market 10:55 - The LOI Is the Best Day 11:35 - Why the Banker Matters 22:26 - The 2020 Deal That Died One Week Before Closing 24:01 - Teaser, CIM, IOI, LOI *ABOUT CEO BROS AFTER HOURS* CEO BROS: After Hours is raw business talk from CEO brothers Brian Balduf (VHT Studios) and Brad Balduf (By Your Side Autism Therapy) with host Matt Croke. Every Friday they share what actually happens building companies: brutal failures, scaling disasters, and the messy truth about leadership. No corporate polish. No LinkedIn energy. Just honest stories from the trenches.

🍸 *WIND DOWN WITH THE BROS: THIS WEEK'S COCKTAILS* Three drinks for three stages of selling. Pick the one that matches your pain.

🍸 *THE LETTER OF INTENT* Brian Balduf - The storyteller who's been there and sold the company Recipe: • 2 oz bourbon • ¾ oz lemon juice • ½ oz honey syrup • 2 dashes Angostura bitters • Lemon twist • Shake with ice, strain into rocks glass The Vibe: The LOI feels like victory. Then diligence starts asking for every number you've ever touched. Smooth up front, sharp on the finish, exactly like the sale process.

🍸 *THE CLEAN TEASER* Brad Balduf - The operator who knows buyers want the real story Recipe: • 2 oz tequila blanco • ¾ oz lime juice • ½ oz agave syrup • 1 oz pineapple juice • Lime wheel • Shake with ice, strain into coupe The Vibe: A teaser shows enough to make buyers lean in without giving away the company name. Brad wants the story tight, the numbers clean, and the buyer curious. Bright, polished, no clutter.

🍸 *THE ACT OF GOD* Matt Croke - The host watching the alphabet soup get real Recipe: • 1.5 oz dark rum • ¾ oz lime juice • ½ oz simple syrup • Ginger beer • Lime wedge • Shake first three with ice, strain over ice, top with ginger beer The Vibe: Five or six months in, one week from closing, then the buyer calls COVID an act of God. Matt asked the question. Brian delivered the nightmare. Stormy, brutal, and way too real. Make all three. LOI survivor? Teaser specialist? Still recovering from the Act of God? Tag us.

*JOIN THE CONVERSATION* https://x.com/CeoBrosAH https://www.instagram.com/ceobrosah/ https://www.facebook.com/CEOBrosAH https://www.linkedin.com/company/ceo-bros

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