# 157: Building Your Business to Sell with Bob Goldsmith, Founder & President of Northern Edge Advisors

- Show: [Manufacturing Happy Hour](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour)
- Published: 2023-10-17
- Length: 42m
- Page: https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north
- Listen: https://manufacturinghappyhour.com/157

## Summary

Bob Goldsmith, Founder and President of Northern Edge Advisors, explains how manufacturing business owners can increase their company's value by treating the business as an asset to be sold. He outlines key preparation steps, including professionalizing financials, building a competent management team, and mitigating customer concentration risks. Goldsmith discusses the importance of timing, noting that while market conditions fluctuate, having a 'sell-ready' mindset allows owners to capitalize on strategic buyers and private equity interest.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=0) Introduction and Guest Background
- [4:31](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=271) Defining 'Build to Sell' and Asset Value
- [8:44](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=524) Common Mistakes and Preparation Checklist
- [13:29](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=809) Exit Timeline and Professionalizing Operations
- [16:44](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=1004) The Mindset Shift for Young Owners
- [19:41](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=1181) Operational Efficiency and Technology Drivers
- [26:23](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=1583) Timing the Sale: Internal and External Factors
- [33:32](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=2012) M&A Complexity and Buyer Strategy
- [38:46](https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north#t=2326) Case Study: Garvin Industries and Closing

## Topics

- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)
- [Leadership, teams & culture](https://hardwarepodcasts.com/topic/leadership-and-culture)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)

## Most relevant to

established companies

## Mentioned

- Northern Edge Advisors (company)
- Garvin Industries (company)
- Southwire (company)
- 3M (company)
- Traction (company)

## Related episodes from other shows

- [Always Be Exiting: How Manufacturers Build Value Years Before a Sale w/ Eric Wiklendt](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2026-09-29-always-be-exiting-how-manufacturers-build-value-years-before-a-sale-w-eric-wikle) (The Manufacturing Executive)
- [Building a High-Value, Buyer-Ready Manufacturing Operation w/ Renita Wolf](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2026-01-13-building-a-high-value-buyer-ready-manufacturing-operation-w-renita-wolf) (The Manufacturing Executive)
- [Demystifying the Buying and Selling of a Manufacturing Business w/ Mike Payne](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2025-02-25-demystifying-the-buying-and-selling-of-a-manufacturing-business-w-mike-payne) (The Manufacturing Executive)
- [S6E38 Wally Waldron | How to Successfully Exit A Manufacturing or Industrial Services Business](https://hardwarepodcasts.com/podcast/being-an-engineer/2025-09-19-s6e38-wally-waldron-how-to-successfully-exit-a-manufacturing-or-industrial-servi) (Being an Engineer)
- [Optimizing the Value of your Manufacturing Business](https://hardwarepodcasts.com/podcast/the-manufacturing-executive/2022-07-19-optimizing-the-value-of-your-manufacturing-business) (The Manufacturing Executive)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/manufacturing-happy-hour/2023-10-17-157-building-your-business-to-sell-with-bob-goldsmith-founder-president-of-north. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to Manufacturing Happy Hour.