In this episode of Wealth Wisdom, we sit down with Mike Sweeney, co-founder of Duffy & Sweeney, one of Rhode Island’s top law firms specializing in mergers and acquisitions (M&A). If you’ve ever thought about selling your business, this episode is packed with insights that could save you time, money, and stress.
With decades of experience, Mike has helped countless business owners sell their companies, find the right buyers, and maximize their value. But beyond being a top M&A attorney, he’s also an entrepreneur and investor, so he truly...
In this episode of Wealth Wisdom, we sit down with Mike Sweeney, co-founder of Duffy & Sweeney, one of Rhode Island’s top law firms specializing in mergers and acquisitions (M&A). If you’ve ever thought about selling your business, this episode is packed with insights that could save you time, money, and stress.
With decades of experience, Mike has helped countless business owners sell their companies, find the right buyers, and maximize their value. But beyond being a top M&A attorney, he’s also an entrepreneur and investor, so he truly understands the tough decisions business owners face every day.
Key Topics Covered:
💰 How to sell a business (and do it right) – From preparation to negotiation, the steps to a smooth and profitable sale.
📈 What is your company really worth? – Don’t fall for generic “multiples”—understand what actually determines your business’s value.
⚠️ Common mistakes when selling a company – From legal issues to lack of planning, these missteps can cost you millions.
🏡 Is remote work the future? – Mike shares his take on how work-from-home policies are affecting young professionals and career growth.
📊 Is now the right time to sell? – The importance of understanding market conditions before making a decision.
If you’re considering selling your business—whether now or in the next few years—this episode will give you a major advantage. Mike makes it clear that selling a company isn’t just about a number on a spreadsheet—it’s a process that requires strategy, preparation, and the right team.
Timestamps:
01:37 Mike's Journey into Law and Business
02:53 The Challenges and Rewards of Starting a Firm
07:20 The Importance of In-Person Mentorship
11:41 The Future of Work: Remote vs. In-Person
14:21 Valuations and Finding the Right Buyer
23:28 Challenges in Valuing Private Companies
24:09 The Importance of Timing in Business Sales
25:00 Preparing Your Company for Sale
26:05 The Role of Investment Bankers
28:35 Common Mistakes in Business Sales
32:40 Working with Buyers and Sellers
42:00 Final Thoughts and Key Takeaways
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