Asset Sale vs. Stock Sale: Why the Structure Matters as Much as the Price
An asset sale and a stock sale can lead to very different outcomes for a business owner. In most Tennessee business transactions, buyers prefer asset...
2 min read
Joe Steigman is the Founder of Legacy Entrepreneurs, a boutique business brokerage and exit advisory firm focused on helping business owners maximize value and transition their companies with confidence. With a background that combines operational leadership, corporate consulting, finance, and entrepreneurship, Joe brings a practical, owner-focused perspective to business sales and acquisitions. Joe is a Certified Business Intermediary (CBI), a designation awarded by the International Business B...
Joseph Steigman
Updated on March 10, 2026
Hiring a general manager is one of the most pivotal decisions a business owner can make.
The right GM can give you back your time, help you scale, or prepare your business for a successful sale. The wrong hire… can cost you months of progress and a lot of money.
At Legacy Entrepreneurs, we work directly with small business owners across industries — helping them either exit their business or hire someone to run it.
We recently wrapped a 16-page guide on how to hire a manager, and to highlight the top takeaways, my colleague Taylor and I did something fun: we used a football-style draft to “pick” our top six tips from the guide.
We’re not saying hiring should be like a draft — but the format helped us surface what really matters most.
Before you even think about writing a job post, take time to clarify the role.
Break it down:
If you’re vague, your candidates will be too — and that leads to bad hires.
Resumes and interviews don’t always show who’s really qualified.
We recommend a simple written assessment with every GM role. It gives you insight into:
It’s a fast way to separate serious candidates from “spray-and-pray” applicants.
Soft skills aren’t one-size-fits-all.
In home care, you might need empathy and bedside manner. In manufacturing, it could be confidence and directness.
Don’t just say “good communicator.” Get specific about what soft skills your GM needs to lead effectively in your business.
Are you hiring for:
Each reason requires a different kind of leader. Clarity on why you’re hiring affects the role, responsibilities, and even who should apply.
Most job descriptions are too long or too vague.
A strong job post should:
And make it exciting — you’re selling a leadership opportunity, not just a task list.
You’re hiring someone to run the business so you don’t have to.
If they can’t spot problems and solve them without being told, they’re not the right fit.
In interviews, listen for stories where the candidate identified a problem, took initiative, and solved it — all without direction.
When you hire a manager, you’re not just filling a role. You’re building resilience in your business.
That resilience makes your company stronger, more valuable, and more attractive to future buyers. It’s also what allows you to truly step away — whether it’s for a season, a sabbatical, or a sale.
If you’re thinking about your next move, we can help you hire a GM or explore what an exit could look like.
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