Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Is There a Simple Business Valuation Calculator”.#business #entrepreneurship #startbusiness https://t.co/Z9GGGLlma9
— Freedom Factory (@FreedomFactory7) May 25, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Is There a Simple Business Valuation Calculator”.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
Strategies for Getting Your Company Ready to Sell
How are Brokers Different from Investment Bankers?
Transcript of Podcast
Hey, it’s Robert from Freedom Factory. I want to talk to you about a little pain point that we have in our business, and it’s a business valuation calculator. People look at real estate and tools like Zillow, or they look at Kelly blue book on cars and they say, why don’t you have a business valuation calculator?
You’ve been doing this for so long, and the reality is we’d love to. Problem is it’s hard. And so there are a couple of really good baselines, like revenue and earnings and we can talk about guidelines and what that looks like but what makes us so hard to do is you can take two businesses, same revenue, same earnings, worth vastly different multiples. Literally two, three X each other, not even close. And that’s because of the intangibles.
There’s so many things to a business - intellectual property, defensibility software that really make it a more complex discussion than just, Hey, what are your earnings and you’re worth five times that hypothetically. Now we’re working with it. It’s probably a little early to talk about it, but we’re working with an amazing company to solve this problem and we’re going to have a solution soon. But in the interim, if you have any questions about how do you maximize the value of your business or what your business is worth, why don’t you give us a call at Freedom Factory. We look forward to speaking with you soon.
Thank you so much for watching. Please hit like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
One of your goals in selling your business is to ensure you will be able to sell it at the highest price possible. To do this, you need first to learn what your business is worth. Fortunately, there are readily available business valuation calculators online. However, you have to be wary as not all of them can give a close to the perfect estimate. Stay away from complicated business valuation calculators. Take advantage of simple business valuation calculators, something that would make you easily understand the value of your business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/is-there-a-simple-business-valuation-calculator Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. How Can I Live My Best Life by Selling My Business https://www.youtube.com/watch?v=GFCMOn4iLdM Big Mistakes Sellers Make Before Selling Your Business https://www.youtube.com/watch?v=3Q2EOr0kLMQ How to Buy a Business When You Don’t Have the Cash https://www.youtube.com/watch?v=CbZ2MvOLUio When Should I Tell Employees if I am Thinking About Selling? https://www.youtube.com/watch?v=ssIEqo6ldEo #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How Can I Live My Best Life by Selling My Business”. Listen to the podcast or watch the video here https://t.co/cjfV0s4X0p https://t.co/7wUDe6FoWB
— Freedom Factory (@FreedomFactory7) May 20, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “When Should I Tell Employees if I am Thinking About Selling”. #business #entrepreneurship #startbusiness https://t.co/WDUVAsUhuU
— Freedom Factory (@FreedomFactory7) May 20, 2020
Selling your business might not be an easy decision to make, especially if you put it up from the ground up. Sometimes, it is not always the monetary aspects that matter but the attachment that you have with your business. Just because you are letting go of your business does not necessarily mean you are saying goodbye to it for good. Sometimes selling your company can open doors of opportunity – in fact, a far more significant opportunity than you can imagine. You can live your best life by selling your business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Do you want to sell your business? Contact Freedom Factory for a business appraisal. Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Strategy to Sell My Business if I am in Vistage https://www.youtube.com/watch?v=ly1b3iXCeZ4 How Does Recasting My Financials Affect the Value of My Business? https://www.youtube.com/watch?v=D5KXK92fVyU How to Sell Your Share of a Business if You Have Other Partners https://www.youtube.com/watch?v=UysRO1i8eho How do I Approach a Competitor to Buy My Business? https://www.youtube.com/watch?v=jnJVXvxwOnU #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Big Mistakes Sellers Make Before Selling Your Business”.#business #entrepreneurship #startbusiness https://t.co/jK4Vhbey2t
— Freedom Factory (@FreedomFactory7) May 18, 2020
Selling a business is more than just waiting for a prospective buyer and sealing the deal. There is more into it. Often, sellers make a mistake and are not even aware of it. As a result, they miss out on great deals and just settle on what is available. As someone selling your business, you can’t afford to settle for less than you deserved. It is your business, after all. You invested not just money, but time, blood, sweat, and tears. You surely want to sell it at the highest value possible. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Do you want to sell your business? Contact Freedom Factory for a business appraisal. Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. The Art and Science of Selling Your Business https://www.youtube.com/watch?v=AxZ8_KlBgT4 What Are the Types of Business Buyers? https://www.youtube.com/watch?v=Rn-WNMMg8G0 When Should I Tell Employees if I am Thinking About Selling? https://www.youtube.com/watch?v=ssIEqo6ldEo Secret Value of Selling Your E-Commerce or Digital Business https://www.youtube.com/watch?v=vBwGyGHl0ZE #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “The Art and Science of Selling Your Business.” #business #entrepreneurship #startbusiness https://t.co/VoWfVjANU5
— Freedom Factory (@FreedomFactory7) May 15, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “The Art and Science of Selling Your Business”.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
How Does Recasting My Financials Affect the Value of My Business?
Can I Sell My Business By Myself or do I Need Help?
Transcript of Podcast
Probably the most frequently asked question that I get is how do you determine the selling price of your business? And the reality is its part art and part science. I’ll go over some of the science, then I’ll go over a little bit of the art, and again, experience goes a long way.
Coming back to the science part of it, some of the really easy pieces are are what’s your earnings? Earnings is often expressed in EBITDA or your earnings before income tax depreciation and amortization. We convert that into seller’s discretionary cash flow for all of our clients. And again, when you’re paying your taxes, EBITDA is a game of minimization. The discretionary cash flow is a game of maximization or accurately reflecting all the cash flow that your business generates.
You’re also going to have things like industry multiples, and sometimes there’s little nuance things like if your e-commerce business versus a fulfilled by Amazon business, you’re going to get a really different multiple. So we want to make sure to position it the right way. Some of the other things, industry codes, we had a client and the name of their business was excavation.
Turns out that excavation companies are valued at two to two and a half plus assets. When I say two to two and a half, that’s a multiple of earnings. Will construction companies of that size are about four and a half to five. And it turned out that although they started as an excavation company, over 80% of their revenues came as a construction company.
So we repositioned it and that helped the industry code. But whatever we do with all these numbers, we make sure to look at market comparable and what’s the market looking like? What are the best sales that we can hang our hat on? How does a bank value it? Is it going to be an SBA type business? And now all of a sudden we’re starting to get into the art.
My name’s Robert Hirsch, and I’m the founder here at Freedom Factory. All we do is help entrepreneurs sell businesses. That’s 100% of our life. When I wake up in the morning, I’m looking at market comps, I’m looking at sales, I’m looking at, okay, how do we maximize the sales price of our business and really work as a partner?
So. Whether you’re a physical company that’s been around for 20 years or a digital company that’s been around for two, we’re going to look at all the science and combine it with the art to help you maximize your sales price. Give us a, call it Freedom Factory today. I look forward to speaking with you soon.
Thank you so much for watching. Please like and subscribe and we’ll see you soon.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How to Buy a Business When You Don’t Have the Cash”. #business #entrepreneurship #startbusiness https://t.co/VkDhds5HDy
— Freedom Factory (@FreedomFactory7) May 13, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How to Buy a Business When You Don’t Have the Cash”.
listen to the podcast, watch the video or read the transcript below.
Additional Videos From Freedom Factory
Strategy to Sell My Business if I am in Vistage
Strategy to Sell My Business if I am in YPO (Young Presidents’ Organization)
Transcript of Podcast
Hi, Robert from Freedom Factory here. And I want to talk to you about a question that we get from buyers of a lot, which is, well, what if I don’t have $1 million check to write? And the reality is most of us don’t have $1 million check to write, but how do you buy a business if you don’t have $1 million check? And that’s what we’re going to jump into today.
So it’s my personal belief that small businesses are the most undervalued asset class on the entire planet. If you’re buying a stock and you’re buying it at a 30 times multiple or 30 times price to earnings ratio, which is the value of the company.
When you’re looking at a small business, you’re looking at three to five times multiple, which obviously is significantly different than the stock market. If you have a special set of skills, which is how do you run a small business, there couldn’t be a more undervalued asset class, and I think the opportunities are limitless.
And I think one of the big reasons that many people don’t consider buying it is they say, well, I don’t have $1 million check to write. And that’s true for most of us. And so let me talk to you about some options. There there are many more, but I’m just going to go into some early ones. Most businesses sell with some sort of seller financing, especially if the seller believes in their business.
So sometimes you’ll have a 30% note, 50% note, sometimes an 80% note to the seller. And what that means is the seller is carrying a note of the financing or carrying part of the financing on the business, and it’s secured by the business. So if you didn’t make the payments on that note, the seller would come back and take their asset, and that’s okay with them.
So usually we see some sort of seller financing, and obviously there’s no bank requirements, no prequalification. All the seller has to do is say yes. Another option that we do is we’ve been selling businesses for an of a long time. And so we have several relationships with SBA lenders across the country.
And usually, we can get a go or no-go in 24 to 48 hours. And if a business is a good SBA business or small business administration, which essentially is a government-subsidized loan, then it can give you up to 80% of the value. So you can buy $1 million company with a check of only a few hundred thousand dollars. That’s a great way to go as well.
I’ve even taken over a business where I have not spent any money out of pocket and people say, well, why would you do that? It was a tea business and as some of you know, I used to work in the search engine industry and had an early search engine in Silicon Valley and I was considered a search engine expert 10 years ago in my career. Well, there was a tea company that acquired all their customers through search engine optimization. And so they wanted to work with me, but I wasn’t willing to write them a check. So I took over the business. I didn’t even make a payment for the first six months to make sure it would work, and I eventually bought it and I didn’t even write a check for a penny out of pocket. All I did was fund the operating capital needs of the company.
So there are lots of ways that you can buy a business without writing $1 million check. In fact, most of the businesses aren’t one buyer and one seller writing a seven or eight-figure check. And there’s lots of ways to be able to do that. Of course, you can raise investment, you can syndicate, there’s lots of options.
And if you have any questions about what’s the best way to either buy a seller finance business or what makes a great candidate for an SBA business. Why don’t you give us a call at Freedom Factory? If you’ve even thought about buying a business, there’s never been a better time than there is today. We look forward to speaking with you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
When it comes to buying a business, having cash at hand is a must. It hinders the majority of buyers as not all of them have enough money at hand. what they didn’t know is there are many different ways to buy a business. You can even buy one without cash at hand. some successful business owners out there don’t have millions when they purchased their business. What they have are tested and proven effective strategies. There are brokerage firms out there that will guide you in buying a business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-to-buy-a-business-when-you-dont-have-the-cash Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. What Contract Structure Should I Use to Sell My Business? https://www.youtube.com/watch?v=spimuAbsLgw How Does Recasting My Financials Affect the Value of My Business? https://www.youtube.com/watch?v=D5KXK92fVyU Strategy to Sell My Business if I am in Tiger 21 https://www.youtube.com/watch?v=ld070Suj_K0 How to Stay Involved in My Business But Sell the Majority https://www.youtube.com/watch?v=mNQpAwCjf48 #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “What Are the Types of Business Buyers”.#business #entrepreneurship #startbusiness https://t.co/2H7g96WqrS
— Freedom Factory (@FreedomFactory7) May 11, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “What Are the Types of Business Buyers”.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
Strategy to Sell My Business if I am in Tiger 21
What Type Of Contract Do I Need To Sell My Business?
Transcript of Podcast
Hi, Robert Hirsch from Freedom Factory. And I just had this really interesting question, and it was from a buyer of a business. And in one of my other videos I was talking about different kinds of buyers, right? There’s first-time buyers, entrepreneurial buyers, strategic buyers, and we’ll go into a whole host of them. But, but he said, well, what kind of buyer am I? I’m not sure. And I made the joke, I said, well, that means you’re a first-time buyer. He was actually a serial entrepreneur and we got a good kick out of it. But I wanted to talk about the different types of buyers for businesses. And this is important not just to buyers, but to sellers because we’re going to have different campaigns for different styles of buyers.
So let’s talk about the first one. And this is what I affectionately refer to as the first time buyer. These are people that traditionally leaving the corporate world. They’ve got a great education and they’re saying, should I buy a business or should I buy a franchise? And sometimes franchises look good to people coming from the corporate world because they have systems and processes and they sell franchises often sell on fear. They say, well, you can’t get a big account if you’re not part of a national company with a national marketing campaign, you’re going to get a really big leg up.
In my experience, that hasn’t been true. We’ve sold a lot of franchisees in the past. But the reality is when someone makes a decision for you, they’re not making a decision based upon the sign behind you or the name they want you. And so if you’re a sign maker and they go to a national sign franchise, they’re not going to say, well, that sign franchise is great signs.
They’ll go with them. They say, you know, Robert, I really trust you and I think you can make a kick-butt sign for me. Let’s do this. And so I often recommend to my corporate kind of people making the big transition and the big jump to look at businesses that have been around for a long history, that have a great track record and great sales and really good systems and processes. So that makes a transition as easy as possible. But that’s really the first time buyer. And so businesses like that service businesses are great, product businesses are good, but ultimately you want something where your skillset is really going to add to the business.
The second type of buyer is serial entrepreneurs like me and I’ve been doing this for 29 years. I’ve been in every business I can think of, and some have gone well and some haven’t, but overall more have done well than haven’t. And I usually transition every two to five years. A lot of entrepreneurs, you do your best and let’s say you’re going to 100% a year or 150% a year, and all of a sudden you dropped a 10 or 15% and it turns more operational. For me, when it gets operational, there are people better suited to it than me, so I’m happy to sell it to them and get in something where I can be more strategic.
And so as an entrepreneur or a serial entrepreneur, I like to look for strategic businesses where you can really dramatically shift the line, maybe something where you’re buying it fairly inexpensively and someone owns a job and doesn’t own a business. I talk about the difference between that, but the bottom line is if you don’t know if you own a job or a business, you just stopped showing up.
And if the revenue goes up, you own a business. If it goes down, you own a job. And there’s a lot of value to be created. Transitioning people owning jobs into owning businesses. Other strategic buyers like that, if for example, let’s say you came out of an industry that you have a lot of connections in and you can really leverage it in this next business. I’ve seen entrepreneurs buy businesses for five times earnings. So let’s just say in this example, it’s $1 million and it throws $200,000 200,000 times five is a million dollars, and that’s its market cap or what it’s worth. And they buy it and they can pay it off and sometimes is as quickly as three or four months.
We had a travel technology business. The guy came out of the travel technology space. He made three calls. All of a sudden he’s on Orbitz, Expedia, and Travelocity, and the business has grown six X in a fraction of a year. Amazing things can be done there, and that’s kind of the entrepreneurial or the strategic buyer.
We also have the financial buyer, which is private equity or venture capital, and they can be buying it for different reasons. They can buy it as a standalone. The good news is I love dealing with private equity and venture capital groups because usually they have a set of deal criteria. They’re very specific on, they’re looking forward to meet five criteria. We need to have debt to equity of this. We need to have earnings of this. We need to be able to buy it on these terms. And if your business fits that buyer, it’s usually a very quick and smooth transaction. No fundraising, no SBA loans, nothing along those lines.
But sometimes when you’re a seller, you want to put yourself in the buyer’s shoes. So for example, we’ve helped private equity groups do roll-ups, and what a roll up is you buy a company, maybe that’s at the center of it. We did a roll up business in the software as a service space. They would buy it for the customer set and for the software. And then they buy the three major competitors, and let’s say they’re doing $1 million in earnings, so $1 million in earnings, and let’s say in this multiple, they’re probably doing four maybe five times that earning. So the cap is with four or 5 million.
Well, if you stick those three companies together, now a company doing 3 million might be worth six to seven. So what they bought for 12 million all of a sudden is worth 20 million. So that type of financial engineering is usually going to come from a financial buyer or private equity or venture capital group.
The final buyer is a strategic buyer and strategic buyers are you usually buying for a few things? Right? They’re buying gross margin because that margin if they’re acquiring more than 80% of the company, goes directly into their financials, but sometimes they’re buying to either Aqua hire, meaning they’re trying to get the people and the skillset and being able to do that. We just saw that recently with one of our deals.
We’ve also seen the financial buyer, the strategic buyer come in and buy companies because they just wanted to own it. For example, recently a ski rack manufacturer bought a rooftop tent manufacturer and the ski rack manufacturer was a hundred times bigger. Certainly could have reversed engineered these tents, but they wanted the people, the skillset, and they wanted their customer base.
And the great news about strategic buyers, they’re usually less worried about the multiple of earnings and they’re more worried about buying a great company. So if you’re not sure what type of buyer you are, just go through it and figure out which one fits best. And if you have questions on this or anything even similar to it, just give us a call at Freedom Factory and please hit like and subscribe.
Thank you so much for spending your valuable time with us and we’ll see you soon. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
There are many types of business buyers, and it is essential to know them so that you will know what strategies you are going to use to maximize the sale value of your business. Knowing what type of buyers are interested in your business isn’t easy. You can even gauge it by just merely looking at the potential buyers. A thorough interview and building rapport can be done to accurately assess the buyers and come up with a win-win strategy. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/what-are-the-types-of-business-buyers Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Strategy to Sell My Business if I am in Vistage https://www.youtube.com/watch?v=ly1b3iXCeZ4 How Does Recasting My Financials Affect the Value of My Business? https://www.youtube.com/watch?v=D5KXK92fVyU How do I Approach a Competitor to Buy My Business? https://www.youtube.com/watch?v=jnJVXvxwOnU Time to Find Freedom and Buy Your Own Business https://www.youtube.com/watch?v=gVzsFNncjpE #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Strategy to Sell My Business if I am in Vistage”.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
Strategy to Sell My Business if I am in Tiger 21
Caution: What is the Trap of the Working Wealthy?
Transcript of Podcast
Hey, it’s Robert from Freedom Factory here, and if you’re a member of Vistage and you want to sell your business, I’d love to talk to you about that. So you obviously realize that executive coaching and peer learning groups can be a big advantage in your growth. There are really two things that have helped underpin my entrepreneurial success.
One is having a peer learning group, and second is having a mentor and really learning how to groom that mentor-mentee relationship. And if you think back to school or university, those were the two things that you got, right? You had a peer learning group or your classmates and you had a teacher.
That type of structure can really allow you to grow and it’s huge. Knowing how to groom that mentor and mentee relationship. When it comes to selling a business or buying a business, usually here will, I know somebody, but just because you know someone doesn’t mean that it’s the right person, or more importantly, how are they going to maximize the value of your biggest assets?
Here at Freedom Factory, all we do is help our fellow entrepreneurs buy and sell their companies. If you’re looking to sell your business or you’re looking to buy, or you have questions of how do I do the analysis or what is my business worth, or what does the market look like, or what is market timing or anything, why don’t you, give us a call here at Freedom Factory?
We’re all entrepreneurs and we only work with entrepreneurs to maximize the value of your biggest assets. I’m Robert Harish, and we look forward to speaking with you soon.
Thank you so much for watching. Please hit like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Strategy to Sell My Business if I am in Vistage”.#business #entrepreneurship #startbusiness https://t.co/BKBkhqvx5q
— Freedom Factory (@FreedomFactory7) May 8, 2020
Selling your business does not only affect you as the owner but also the people relying on your business. It could affect your business partners and employees from top to bottom. Should you tell your employees that you are thinking of selling your business? When it comes to running a business, honesty and transparency are essential, but sometimes, you have to weigh the pros and cons. As a company owner, you have to come up with a decision that is not only favorable to you but favorable to all people that are going to be affected by your business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/when-should-i-tell-employees-if-i-am-thinking-about-selling Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Strategy to Sell My Business if I am in EO (Entrepreneurs’ Organization) https://www.youtube.com/watch?v=m_1_hJv4PdQ How to Stay Involved in My Business But Sell the Majority https://www.youtube.com/watch?v=mNQpAwCjf48 What is The Myth of the Million Dollar Idea? https://www.youtube.com/watch?v=4CeX0STdxos Should I Hire a Consultant or a Business Broker to Sell My Business? https://www.youtube.com/watch?v=y-VoHLY-iwM #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
.video-container {position: relative;padding-bottom: 56.25%;padding-top: 1px; height: 0; overflow: hidden;} .video-container iframe, .video-container object, .video-container embed {position: absolute;top: 0;LEFT: 0;width: 100%;height: 100%;}
Daily local business owners (sellers) make radical errors when offering their service and lose countless bucks while doing so. All their effort as well as long-lasting investment goes down the drain. These mistakes are typically easily preventable. Tyler Tysdal. As entrepreneurs, they had when imagined possessing their very own service as well as developing it to successto enjoy the rewards in the type of an effective business sale.
As a business owner, I have actually constructed as well as offered six companies consisting of a cars and truck rental company, 2 mini-storage centers, and 3 stores. Currently, as a worldwide specialist speaker and company expert, I assist other small business proprietors attain this very same success. Below are my 5 pointers to assist you avoid service sale pitfalls, dissatisfaction, and also lost cash. Robert Hirsch.
It takes a standard of 2 to 4 years to market a local business. As a result, lasting planning is key to any kind of effective company sale. By maintaining upgraded documents, a detailed organisation background and also sales portfolio available at all times, it will certainly make your planning pay off. You simply never know when that best buyer might stroll right into your service as well as make you a deal you just can't refuse.
Also if you do not have a follower who is a relative, you are still assuming like a succession coordinator. The individual "doing well" you requires to be set up for success. If they see you have actually been planning as well as considering this for rather time and that it's not a fast "I have actually had adequate" sale, your rate will be a lot greater.
In my instance, I joined the first broker I spoke to. He looked like the excellent individual to offer my service. After all, he had a history in retail (as well as that was my industry), he was friendly and most importantly he thought of a BIG cost.
By elevating the price he obtained me to sign the contract but never ever made the sale. After six lost months without also a lead, I ultimately chose to carry on. Knowing from my mistake, I spoke with 12 more brokers prior to authorizing one more agreement. The new broker had a more sensible method as well as began to bring me leads within the first month.
You are the ideal promoter for your organisation. That knows your company much better than you? No person is a lot more determined, passionate and knowledgeable concerning your service than you. A broker might be getting you some activity, but it is essential that you proceed to advertise on your own as well. After coming to be aggravated that leads were not developing, I understood that I had to be a promoter of my very own service sale.
How was I mosting likely to do that? Where do I find individuals that would certainly be interested in acquiring my kind of company? After I conceptualized for suggestions, I discovered a method to do this. Realizing that my sales partners might make the initial call with a person that had an interest in opening a retailerI mosted likely to the resource.
I offered a benefit to my sales affiliates to send me a customer. Tyler T. Tysdal. Quickly the phone began sounding as well as more leads can be found in. Within a pair of weeks, I had produced such buzz that I had 3 different buyers dealing with buying the organisation at the exact same time. Retail is a difficult businessmuch harder than individuals realize.
The even more preparation you take into your sale, the better the price you will certainly be able to obtain. Maintain in mind that the possible buyer will certainly be extremely suspicious of your factor for marketing. Have your plan and method in position to eliminate any type of worries. Just like you began your organisation with a strong strategy, sell it with a strong plan also.
Too numerous company owner that have not profited, or have capital troubles, miss this remarkable opportunity. best business broker. Some reasons they miss out results from shed power and/or motivation or due to the fact that they may not intend to admit defeat or failing. Remember it is businessdon't fret about taking it directly.
Another blunder is to value business also low. Often company owners will certainly price their business low since they are shed out, struggle with an illness or did not get good suggestions. Do your research initially. Listen to brokers and also professionals. Study regarding various other company sales prior to entering with both feet.
This may not necessarily be your BEST offer. Selling your business for leading buck with little or no cash down along with a prolonged agreement might lead you to shed it all. Company sales commonly go bad after the new owner takes control of. The new owner might lack business experience, have a shut mind or be a poor leader.
An effective entrepreneur makes it looks very easy, yet alter that mix and also catastrophe may strike. When this occurs, the brand-new proprietor finishes up failing and also leaves the previous proprietor holding an empty bag. It distresses me to see a business stop working after years of success because of this lack of company sale judgement.
Ask on your own, is this the best person to get and also run my organisation? Or, can they swiftly connect with my customer base and find out exactly how to market properly? When the business sale goes as intended, it produces a significant possibility for both company owner and the success proceeds. Debbie Allen is the author of "Admissions of Immoral Self Marketers and Increasing Sales." She has actually been featured in Business owner, Marketing Power and also Business & Marketing Excellence.
Offering a small company is a complicated endeavor that entails several factors to consider. It can need that you enlist a broker, accountant and/or an attorney as you proceed. Whether you profit will certainly depend upon the reason for the sale, the timing of the sale, the toughness of business's operation as well as its structure.
Evaluating these 7 considerations can help you build a strong strategy as well as make settlements a success. You've made a decision to market your organisation. Why? That is among the very first questions a possible buyer will certainly ask. Proprietors frequently market their organisations for any one of the complying with reasons: RetirementPartnership disputesIllness or deathBecoming overworkedBoredom Some owners take into consideration offering business when it is not rewarding, however this can make it more challenging to draw in purchasers.
There are numerous qualities that can make your business show up extra eye-catching, consisting of: Enhancing profitsConsistent income figuresA strong customer baseA major agreement that spans a number of years Get ready for the sale as very early as feasible, preferably a year or 2 ahead of time. The prep work will certainly assist you to boost your financial documents, organisation framework, as well as consumer base to make business more rewarding.
Next, you'll wish to establish the well worth of your company to see to it you don't value it also high or also reduced. Find a business evaluator to obtain a assessment. The appraiser will draw up a comprehensive description of business's worth. The paper will bring trustworthiness to the asking cost and also can offer as a gauge for your listing price.
It's also the very best path when the sale is to a trusted relative or existing worker. In other conditions, a broker can help release up time for you to maintain the business up and running, or maintain the sale silent and also obtain the highest price (since the broker will certainly wish to optimize his/her commission).
Collect your monetary statements and also income tax return dating back three to 4 years and also review them with an accountant. In addition, establish a list of tools that's being offered with business. Likewise, create a checklist of contacts connected to sales purchases and also supplies, and dig up any kind of appropriate documentation such as your present lease.
Daily local business owners (sellers) make radical errors when offering their service and lose countless bucks while doing so. All their effort as well as long-lasting investment goes down the drain. These mistakes are typically easily preventable. Tyler Tysdal. As entrepreneurs, they had when imagined possessing their very own service as well as developing it to successto enjoy the rewards in the type of an effective business sale.
As a business owner, I have actually constructed as well as offered six companies consisting of a cars and truck rental company, 2 mini-storage centers, and 3 stores. Currently, as a worldwide specialist speaker and company expert, I assist other small business proprietors attain this very same success. Below are my 5 pointers to assist you avoid service sale pitfalls, dissatisfaction, and also lost cash. Robert Hirsch.
It takes a standard of 2 to 4 years to market a local business. As a result, lasting planning is key to any kind of effective company sale. By maintaining upgraded documents, a detailed organisation background and also sales portfolio available at all times, it will certainly make your planning pay off. You simply never know when that best buyer might stroll right into your service as well as make you a deal you just can't refuse.
Also if you do not have a follower who is a relative, you are still assuming like a succession coordinator. The individual "doing well" you requires to be set up for success. If they see you have actually been planning as well as considering this for rather time and that it's not a fast "I have actually had adequate" sale, your rate will be a lot greater.
In my instance, I joined the first broker I spoke to. He looked like the excellent individual to offer my service. After all, he had a history in retail (as well as that was my industry), he was friendly and most importantly he thought of a BIG cost.
By elevating the price he obtained me to sign the contract but never ever made the sale. After six lost months without also a lead, I ultimately chose to carry on. Knowing from my mistake, I spoke with 12 more brokers prior to authorizing one more agreement. The new broker had a more sensible method as well as began to bring me leads within the first month.
You are the ideal promoter for your organisation. That knows your company much better than you? No person is a lot more determined, passionate and knowledgeable concerning your service than you. A broker might be getting you some activity, but it is essential that you proceed to advertise on your own as well. After coming to be aggravated that leads were not developing, I understood that I had to be a promoter of my very own service sale.
How was I mosting likely to do that? Where do I find individuals that would certainly be interested in acquiring my kind of company? After I conceptualized for suggestions, I discovered a method to do this. Realizing that my sales partners might make the initial call with a person that had an interest in opening a retailerI mosted likely to the resource.
I offered a benefit to my sales affiliates to send me a customer. Tyler T. Tysdal. Quickly the phone began sounding as well as more leads can be found in. Within a pair of weeks, I had produced such buzz that I had 3 different buyers dealing with buying the organisation at the exact same time. Retail is a difficult businessmuch harder than individuals realize.
The even more preparation you take into your sale, the better the price you will certainly be able to obtain. Maintain in mind that the possible buyer will certainly be extremely suspicious of your factor for marketing. Have your plan and method in position to eliminate any type of worries. Just like you began your organisation with a strong strategy, sell it with a strong plan also.
Too numerous company owner that have not profited, or have capital troubles, miss this remarkable opportunity. best business broker. Some reasons they miss out results from shed power and/or motivation or due to the fact that they may not intend to admit defeat or failing. Remember it is businessdon't fret about taking it directly.
Another blunder is to value business also low. Often company owners will certainly price their business low since they are shed out, struggle with an illness or did not get good suggestions. Do your research initially. Listen to brokers and also professionals. Study regarding various other company sales prior to entering with both feet.
This may not necessarily be your BEST offer. Selling your business for leading buck with little or no cash down along with a prolonged agreement might lead you to shed it all. Company sales commonly go bad after the new owner takes control of. The new owner might lack business experience, have a shut mind or be a poor leader.
An effective entrepreneur makes it looks very easy, yet alter that mix and also catastrophe may strike. When this occurs, the brand-new proprietor finishes up failing and also leaves the previous proprietor holding an empty bag. It distresses me to see a business stop working after years of success because of this lack of company sale judgement.
Ask on your own, is this the best person to get and also run my organisation? Or, can they swiftly connect with my customer base and find out exactly how to market properly? When the business sale goes as intended, it produces a significant possibility for both company owner and the success proceeds. Debbie Allen is the author of "Admissions of Immoral Self Marketers and Increasing Sales." She has actually been featured in Business owner, Marketing Power and also Business & Marketing Excellence.
Offering a small company is a complicated endeavor that entails several factors to consider. It can need that you enlist a broker, accountant and/or an attorney as you proceed. Whether you profit will certainly depend upon the reason for the sale, the timing of the sale, the toughness of business's operation as well as its structure.
Evaluating these 7 considerations can help you build a strong strategy as well as make settlements a success. You've made a decision to market your organisation. Why? That is among the very first questions a possible buyer will certainly ask. Proprietors frequently market their organisations for any one of the complying with reasons: RetirementPartnership disputesIllness or deathBecoming overworkedBoredom Some owners take into consideration offering business when it is not rewarding, however this can make it more challenging to draw in purchasers.
There are numerous qualities that can make your business show up extra eye-catching, consisting of: Enhancing profitsConsistent income figuresA strong customer baseA major agreement that spans a number of years Get ready for the sale as very early as feasible, preferably a year or 2 ahead of time. The prep work will certainly assist you to boost your financial documents, organisation framework, as well as consumer base to make business more rewarding.
Next, you'll wish to establish the well worth of your company to see to it you don't value it also high or also reduced. Find a business evaluator to obtain a assessment. The appraiser will draw up a comprehensive description of business's worth. The paper will bring trustworthiness to the asking cost and also can offer as a gauge for your listing price.
It's also the very best path when the sale is to a trusted relative or existing worker. In other conditions, a broker can help release up time for you to maintain the business up and running, or maintain the sale silent and also obtain the highest price (since the broker will certainly wish to optimize his/her commission).
Collect your monetary statements and also income tax return dating back three to 4 years and also review them with an accountant. In addition, establish a list of tools that's being offered with business. Likewise, create a checklist of contacts connected to sales purchases and also supplies, and dig up any kind of appropriate documentation such as your present lease.
