Michael Shea

Central Florida's #1 Business Broker

How AI helps in buying and selling a business

by

 

Description:

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they discuss Artificial Intelligence and its impact on the business world. Have you ever wondered how AI will affect small and mid-size businesses? Listen to this thoughtful conversation about this innovation, and get ready; the future is here! From Body Vision Medical, David Webster shares his expert perspective from the medical realm. Michael Shea also joins the conversation and compares AI today to the early days of the internet. Listing of the week: Dan Walkowski (Portland) is selling an outdoor store that has been running since 1945. The owners are ready to retire. The current price is $1.5 million. The business generates around $140,000 cash flow, and inventory is included in the price. The warehouse is 1,400 square feet and consists of two floors. Great potential to grow via e-commerce! Email Dan at dwalkowski@tworld.com or call (503) 880-8970.

Key Takeaways:

[4:12] Deal of the week: John Fullerton (Omaha) just sold a Veterinary Clinic owned by a sole practitioner who was running the business. This transaction became a stock sale from an asset type of deal. This is a small transaction of $200,000, and he saved more than $20,000 by making this into a stock transaction. Call John (402) 213 9945 or email jfullerton@tworld.com.
[8:30] Michael Shea and David Webster (Body Vision Medical) share expert advice.
[9:48] David introduces himself and explains his involvement in medical devices and AI.
[11:40] What is the first way AI influenced the technical medical space?
[12:25] David discusses polymath.
[13:56] AI will assist humans in four areas: Data Analytics, Personal Medicine, Health Operations and Resource Management, and Robot assistance.
[17:50] David gives an example of how AI improves the medical industry.
[21:29] What are the major business-level problems that AI is going to help resolve?
[24:04] How would AI and its use help leverage and control resource allocation in healthcare?
[28:05] Have you thought about what your career would look like in 20 years?
[31:22] Technology will make us more efficient as operators, more profitable as a business, and greatly assist in resource allocation.
[32:50] Play with AI; it learns more as you interact with it.
[33:40] How do I even start using AI?
[39:44] Use AI to capture the data your business needs to succeed.
[41:40] Start today utilizing AI’s new tools; this will pull your business ahead and leave others behind.
[43:01] Listing of the week: Dan Walkowski (Portland) is selling an outdoor store that has been running since 1945. The owners are ready to retire. The current price is $1.5 million. The business generates around $140,000 cash flow, and inventory is included in the price. The warehouse is 1,400 square feet and consists of two floors. Great potential to grow via e-commerce!

Mentioned in this Episode:
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call John Fullerton at (402) 213 9945 or email jfullerton@tworld.com.
Call Michael Shea at (407) 745-0466 or email him at mike@tworld.com;
Email Dan Walkowski at dwalkowski@tworld.com or call (503) 880-8970.

Show Notes:

Mentioned in this episode: