The Funnel, Ep. 7: Should You Hire an Investment Banker?

In this episode of The Funnel, M&A advisor Kirk Michie explains when founders should consider hiring an investment banker and when other approaches may be appropriate. As business owners move deeper into the exit process, questions about deal structure, buyer access, and negotiation leverage become more important.

Kirk explains that investment bankers are most valuable when a business is attractive enough to generate interest from multiple buyers. By creating competitive tension, bankers can help drive higher valuations, better terms, and clearer post-close outcomes. He also notes that founders negotiating directly with a single buyer often lack the leverage needed to achieve the best possible deal. For smaller transactions—often under $5–10 million—alternatives like business brokers, exit planners, legal-led processes, or marketplace listings may be more practical.

This episode helps founders evaluate whether to hire an investment banker, understand sell-side advisory options, and weigh the trade-offs between direct deals and market-driven processes. For owners planning an exit, the video offers a realistic framework for choosing the right level of support.