Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "Strategy to Sell My Business if I am in YPO (Young Presidents' Organization)." Hitting a particular level of growth in your business is truly impressive. But despite the level of growth, there will inevitably come a time when you have to sell your business for whatever reasons it might be. Recognizing and executing effective selling strategies is essential to get a fair and reasonable price for your business. Here at Freedom Factory, we'd love to give you all the necessary information you need to make the right decision. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
YPO stands for the Young President’s Organization, which means you were able to hit a particular level of growth in your business. The majority of entrepreneurs don’t hit that specific level. But despite the growth, there will inevitably come a time when you have to sell your business for whatever reasons it might be. You have different options to sell a business, such as selling it on your own or through a business broker. Each comes with pros and cons, but if you want to maximize the sales price of your business, you have to entrust the selling process in the hands of experts. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/strategy-to-sell-my-business-if-i-am-in-ypo-young-presidents-organization 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 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 How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM What are the Secrets of Selling Your Business for Maximum Value? https://www.youtube.com/watch?v=5UKloSc4CI8 #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "Strategy to Sell My Business if I am in EO Entrepreneurs Organization." Entrepreneurs Organization plays a vital role in the overall growth as an entrepreneur. However, there is more in the world of business than what you can learn in EO. When it comes to selling a business, you need to have a tested and proven effective strategy. Here at Freedom Factory, we'd love to help you maximize the value of your business. Listen to the podcast or watch the video here https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Hi, it's Robert Hirsch here from Freedom Factory, and I want to talk to you about selling your business if you're in the entrepreneur’s organization or EO. Now, I've been an entrepreneur for the better part of 25 years. And I remember when I first joined EO, it was YEO and I was in my early twenties and I learned of a lot.
The two things that really underpinned entrepreneurial growth for me were, one, a peer learning group like EO. And second was learning how to groom mentor relationships. If you think about a university or any type of learning environment, you usually have those two things that are helping it - the peer learning group or your classmates and the teacher or the mentor.
One of the things, when I was in EO, I was starting my business and I was a good entrepreneur, but I didn't know what I didn't know. And my solution to everything was make more revenue, some more stuff. That's always what I was trying to do. If something came up and I didn't know how to handle it, I would sell more stuff, but I rarely thought about selling my business. And so if I thought about it, or for example, when I was running software companies at the time, and when the company, that was my dream became my nightmare.
I had venture capitalists and I had financing and limited partners and we were behind plan and it wasn't working. I would make a forum presentation. I'd go to my group and my group is seven people, and the reality was the forum was helpful and they were empathetic and they listened, but they had some constraints, right? One, no one had told the business yet. Two, we were stuck in gestalt and get shop protocol and not a lot of people had a lot of relevant experience to share.
When it came down to selling my business, the reason that I made the mistake is a good friend of mine that I trusted unequivocally said he knew someone that could help me sell it. But I never went through the process of determining if that was the right person. And the reality was, I've met this banker and I learned this important lesson, because we talked past each other, right? Bankers don't speak entrepreneur and entrepreneurs don't speak banker. And so he was telling me about what was happening, but I knew he wasn't my tribe. I knew I needed to find an entrepreneur to help me sell my business and make sure it's the right person.
For me as an entrepreneur my businesses is really a Trojan horse for me affecting the world or creating social change. And when I realized that we had enough LPs and it was a software company in the adventure travel space, and I realized that I wasn't going to be able to do that, and I lost my passion for it. I knew the time was right to sell and I just didn't know who to talk to.
So if you're an entrepreneur and you're thinking about selling your business, or you have questions about what it's worth or what an exit looks like or deal structure. Why don't you give us a call at Freedom Factory? We are all entrepreneurs. Most of us have been in EO or YPO or tiger 21 along the way and we'd love to help you.
I'm Robert and I look forward to speaking with you soon.
Entrepreneurs Organization or EO is a community of entrepreneurs where its members can learn new insights in running their business. A peer learning group like EO plays a massive role in your overall growth as an entrepreneur. However, there is more in the world of business than what you can learn in EO. High revenue is the ultimate goal of every business, but a high income is not always a solution to every problem encountered in the business. When it comes to selling a business, you need to have a tested and proven effective strategy. That way, you can maximize the value of your business. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/strategy-to-sell-my-business-if-i-am-in-eo-entrepreneurs-organization 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. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Sell My Business without a Broker? https://www.youtube.com/watch?v=i2Z6BB7V7dE What are the Secrets of Selling Your Business for Maximum Value? https://www.youtube.com/watch?v=5UKloSc4CI8 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
While you might be ready to exit your company Tyler Tysdal, show that your business still has possibilities in advance of it. Customers do not wish to purchase a business that is all set to begin a descending spiral or perhaps simply stay flat. Make certain you can credibly reveal three years of significant growth after the sale.
Tyler Tysdal News headlines and Up-to-date information May 2020
Nonetheless, many entrepreneurs aren't too positioned as Lafleche to bring in customers and a good asking price. Simply over half of local business owner who intend to leave their firm don't have any type of sort of sequence plan Tyler Tysdal settlement, a 2011 survey by the Canadian Federation of Independent Organisation discovered. The repercussions can be alarming.
That, subsequently, can have a drastic impact on your retired life. Ensuring your firm fetches the ideal feasible rate can take a number of years of prep work, says Angelo Zeni, a director at BDC's Development & Change Resources. "Business owners need to have a five-year strategy so they don't need to scramble to get their company ready offer for sale," claims Zeni, whose group supplies mezzanine financing for organisation changes.
tyler tysdal
That can help you position your business to make it more valuable. Buyers have a tendency to search for companies that pay, have excellent leads and also are lean, Zeni claims. Customers are particularly looking for growth. "A purchaser is not seeking to see the condition quo. They wish to see top-line and fundamental growth," Zeni claims.
"You want a possible buyer to be confident business will certainly prosper when you're gone," Zeni says. Barry Timber saw every one of these characteristics at Ontario Excavac. He had led five previous organisation purchases, so he knew specifically what kind of firm he wished to buy. For his most current acquisition, he considered 60 to 70 various businesses before finally finding Lafleche's business. Tyler Tysdal.
He also suched as the business's close relationships with clients. "I saw Ontario Excavac as having wonderful service chances as well as wonderful customer connections in a growing market, with even more leads for growth," claims Timber, who relied on BDC's Growth & Change Capital to help fund the purchase. Timber agrees to neglect some problems if a company has excellent business prospects.
Wood's belief in Ontario Excavac's potential customers confirmed spot-on. After the acquisition, which took place in very early 2014, he made a few changes, including doing even more truck upkeep in-house, which caused a 50% decrease in unscheduled downtime because of mechanical problems. Timber also employed a Human Resources supervisor, enhancing employment as the firm included 20 workers and 10 new hydrovac trucks.
Tyler Tysdal Information and facts and Details April 2020
tyler tysdal
Phil Lafleche, who preserves a minority stake in the service and a seat on its board, mores than happy the company he built is currently in great hands. Wood is completely satisfied, as well. "I have actually just attempted to take the finest that's there as well as polish it." A reasonable sale price for a business is most frequently calculated utilizing a several of EBITDA (revenues before interest, tax obligations, devaluation and also amortization), which is a procedure of a company's capacity to create operating earnings.
Many various other aspects can affect evaluation, including a good reputation, intellectual residential property and the firm's location. A valuator normally seeks to confirm EBITDA by using other evaluation approachesfirst, calculating the worth of the business's substantial as well as abstract properties as well as, 2nd, looking for what a comparable services was sold. Your company might likewise be better in pieces than all at once.
by Ryan Crow When you determine to offer your company without the assistance of a specialist, you need to have every one of your affairs in order as well as a clear plan as to how business will be managed. Selling your business will take a signicant investment of time, which is focus taken away from the dayto-day procedures of your service - Tyler Tysdal.
Prepare your service for its sale years before you actually desire to leave business. Beginning with completion in mind. When building a company, see to it you recognize what a future buyer will certainly be trying to find as well as what elements they think about to be attractive in a company. Potential customers are looking to see consistent profits development, prots and a lasting customer base (Tyler Tysdal).
Know what buyers are trying to find. Some might have an interest in a revenue, investment, opportunity or any type of combination of the three. They need to really feel comfortable that business will certainly remain to produce the revenue they require. They will certainly desire to see a chance to expand business. Modifying your nancial statements and developing a growth strategy is essential to boosting the value of your organisation to potential purchasers.
You will desire to have nancial statements and also tax obligation returns dating back 3-5 years. Present to the buyers your company's profits in recast nancial declarations. The objective is to optimize the presentation of take-home pay and cash ow. Purchasers wish to know the real money ow as well as the income-generating ability of the business.
You will certainly additionally need to present to the purchaser just how much money ow they will have offered to them upon buying your company. Aid a buyer see potential in your company by giving them a development strategy; a roadmap to chances that the brand-new owner could discover, thinking added resources were offered.
A business' regarded worth shows a possible to broaden, as long as the potential purchaser has the resources to support that capacity. Literally make your service appearance appealing. Take an objective view of your business and do away with the mess. Arrange, make it look attractive and give it a visual appeal for any potential purchaser that comes by.
The appearance of a business goes a lengthy way toward building a prospective buyer's condence that they are buying a well handled business. Strategy what your life will certainly resemble after you market your company. This is not an important action to marketing your company, instead a structure block for preparing and protecting your future.
Whether you are retiring or occupying various other chances, you will require to intend just how the prots (if there are any type of) will be spent and what your next steps are mosting likely to be. Connected: Preparation for the sale of your company includes investing your time to make sure that you can see the benets after the sale.
Released by ExitAdviser 2018-08-24 Fast-track your organisation sale with ExitAdviser (this website), an end-to-end option for sole proprietors. ExitAdviser (this website) offers small company owners with an end-to-end system to prepare, assess, as well as provide their companies up for sale. Share this.
Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "How do I Sell My Business Without a Broker." Selling a business is a complex venture that entails several considerations, but it can still be done even without hiring a broker. However, you have to consider that statistically, most deals fall apart without a broker than those with one. Nonetheless, if you're going to sell it yourself, build a solid plan to make negotiations a success. Listen to the podcast or watch the video here here https://vimeopro.com/freedomfa…/business-brokers/…/389990100
As entrepreneurs, some of our best content is when we speak the unspeakable. And there are many people that give us a call here at Freedom Factory and they want us to sell their business but the problem is we can't pay for ourselves. And if we can't pay for ourselves, we don't take them on as a client.
So I wanted to create a video, which kind of shows you the things to think about and essentially how to sell your business without a broker. So the first thing you want to think about is what's your business worth? And valuation makes a lot of sense and there's some factors to it as an online business, meaning can you sell it to anybody worldwide or do you have to live in a small community in your section of Ohio in order to sell it?
Because if so, the marketing plan is really different. And so you want to maximize your potential buyer pool and you want to maximize your marketing plan to reach them. For example, if we have an international business, we'll go through 30 or 40 different channels to private equity and venture capital and entrepreneurs and angel investors, and we're trying to get as many people interested as we can to find the right buyer.
And so a big part of that is valuation, or what does it take to bring your business to market? And if we can look at market comps and we can certainly help you with it if you give us a call. But if you don't know, I would take your seller's discretionary cash flow, which is kind of EBITDA plus your add backs. And I would think about a multiple of three to five times. And I'm assuming that you're doing less than a million in earnings, and if there's nothing that's a sustainable competitive advantage and there's not a lot of history, you're going to be on the lower end of that scale.
And if you've been doing it for 20 years and you've got a huge reorder rate, you're going to be on the higher end of that scale. But if you just have to pick something and go with a guide, three to five is a pretty good starting guide to go with. And then plus assets, if there's real estate or capital expenditures, et cetera, et cetera, et cetera. So valuation is a big thing. And where do you want to come to market? And also another element to think about is how quickly do you want to sell it? Do you want to sell it in three months or do you want to sell it within a year? Because if so, your pricing strategy is going to be a little bit different.
So one of the things that we do at Freedom Factory is we do all the information before we even take it to market. So we create our prospectus and our book and our teasers and our NDAs and our contracts and our documents set before we even place the first ad.
So if somebody calls, they want information, boom, we send them the NDA. The teaser goes out, which the teaser can identify what your, business. It's just your type in a general category, construction company with revenues of 16 million wants to sell, and then once they sign the NDA or the MNDA, which is a nondisclosure, then we go into the perspective to the book and we start to go deeper and deeper.
But the key part is you do all that before you take your first lead. And then you think, okay, well I've got to put together a doc set. You don't want to not have your nondisclosure, not have LOIs, not have an asset purchase agreement or a stock purchase agreement, and you want to put all that together before you take it to market.
Now, some areas where you might want to sell without a broker, let's say it's a family sale and you're selling to your children, and perhaps you're carrying a seller's note and they're paying for your retirement. You don't necessarily need a broker for that. Although I would recommend a great lawyer that really understands the perils of family business.
Another case that is analogous to that is let's say you're selling to your employees and a lot of people sell to their employees, and the downside of selling to a family member is you're not going to maximize your value, but it's not so bad because you're selling it to your kids or to your relatives.
Now, if you're selling it to your employees, you're going to have the same downside. You're not going to maximize the sales price of your business, and usually people do that if the business has several risk factors that makes it very difficult to go sell. And so when you're doing that, I would still recommend engaging a broker, running an external process, and creating a competitive thing, especially on the employee side, creating a competitive market situation so they're at least paying you fair market value for your business.
Now, you know, the final piece is what's your marketing plan. Are you going to advertise this in the Wall Street Journal in the New York times or are you going to go out to private equity groups or are you just going to advertise it in your local paper? Because that's really going to determine how many people are going to be interested and what type of process that you're going for. Here at Freedom Factory, we run the top brokerage in the country and we've created a product for our customers where we're not going to sell for them where we can't pay for ourselves and it gives you 90% of the value. It gives you all your docs, your marketing plan, the same templates that we use. It gives you 90% of the value at less than 10% of the cost.
And so if you want to talk about that or go to market strategy or discuss any of the things that we've talked about in depth, just find our phone number below or drop us an email at Freedom Factory and we look forward to helping you soon. Thanks for spending your valuable time with us.
Selling a business without a broker may sound easy, but in reality, it is not, especially if you want to sell your business at the highest maximum value. Brokers specializing in selling businesses know the ins and outs of the corporate world. They are equipped with the knowledge, skills, and experience in selling your business and ensuring that all factors that could further increase the value of your company are taken care of. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-do-i-sell-my-business-without-a-broker 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. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Approach a Competitor to Buy My Business? https://www.youtube.com/watch?v=jnJVXvxwOnU How to Build My Business Into a Machine vs. a Job - Crypto Part 1 https://www.youtube.com/watch?v=Gi7YokI14VU How to Build My Business Into a Machine vs. a Job - Crypto Part 2 https://www.youtube.com/watch?v=pfue5SmAx9U #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
While you might prepare to leave your company, show that your business still has opportunities ahead of it. Customers do not intend to acquire a company that prepares to start a down spiral or perhaps just remain level. Make certain you can credibly show three years of significant growth after the sale.
However, several business owners aren't too positioned as Lafleche to draw in customers and a good marketing rate. Just over fifty percent of company owner that intend to leave their company do not have any type of sort of succession plan, a 2011 study by the Canadian Federation of Independent Organisation located. The consequences can be alarming.
That Freedom Factory, subsequently, can have a drastic influence on your retired life. Ensuring your firm fetches the very best feasible rate can take numerous years of prep work, states Angelo Zeni, a supervisor at BDC's Growth & Transition Capital. "Entrepreneurs ought to have a five-year plan so they do not have to scramble to obtain their firm prepared up for sale," states Zeni, whose group gives mezzanine funding for business shifts.
tyler tysdal
That can assist you position your business to make it better. Purchasers have a tendency to try to find firms that pay, have good prospects and are lean, Zeni claims. Buyers are especially on the lookout for growth. "A customer is not aiming to see the status. They intend to see top-line as well as fundamental growth," Zeni claims.
"You desire a potential buyer to be confident the business will grow when you're gone Freedom Factory," Zeni says. Barry Timber saw every one of these qualities at Ontario Excavac. He had led 5 previous organisation acquisitions, so he recognized specifically what sort of business he wished to get. For his newest procurement, he thought about 60 to 70 different companies prior to ultimately locating Lafleche's firm. Tyler Tysdal.
He additionally suched as the company's close partnerships with clients. "I saw Ontario Excavac as having great service chances and excellent consumer partnerships in a growing market, with even more leads for growth," says Timber, that resorted to BDC's Development & Transition Funding to assist finance the transaction. Wood wants to ignore some issues if a company has good service potential customers.
Wood's idea in Ontario Excavac's leads showed spot-on. After the purchase, which occurred in very early 2014, he made a few adjustments, consisting of doing even more vehicle upkeep in-house, which caused a 50% drop in unscheduled downtime because of mechanical issues. Wood likewise hired a Human Resources manager, enhancing recruitment as the business added 20 staff members and 10 new hydrovac trucks.
tyler tysdal
Phil Lafleche, who keeps a minority stake in business and also a seat on its board, mores than happy the business he constructed is currently in excellent hands. Wood is pleased, as well. "I've simply tried to take the ideal that's there as well as polish it." A reasonable sale cost for an organisation is most typically calculated utilizing a several of EBITDA (incomes before interest, tax obligations, devaluation and also amortization), which is a step of a firm's ability to produce operating revenues.
Many various other variables can affect appraisal, consisting of a good reputation, intellectual home and the business's place. A valuator usually looks for to validate EBITDA by using other assessment approachesfirst, computing the worth of the company's concrete and also intangible possessions and also, second, checking for what a similar businesses was offered. Your service might also be extra beneficial in items than overall.
by Ryan Crow When you decide to market your service without the aid of an expert, you need to have every one of your events in order and a clear plan as to how the company will certainly be handled. Selling your service will take a signicant financial investment of time, which is focus eliminated from the dayto-day procedures of your company - Tyler Tysdal.
Prepare your service for its sale years prior to you in fact intend to exit business. Begin with completion in mind. When building a company, make certain you understand what a future purchaser will be trying to find and also what aspects they think about to be eye-catching in a company. Possible purchasers are wanting to see regular profits development, prots and a long-term customer base (Tyler Tysdal).
Know what purchasers are seeking. Some may have an interest in an income, investment, possibility or any type of mix of the three. They require to feel comfy that the organisation will certainly proceed to generate the income they need. They will certainly want to see a chance to expand business. Recasting your nancial declarations and also producing a development strategy is critical to enhancing the worth of your service to potential customers.
You will certainly wish to have nancial declarations and tax returns dating back 3-5 years. Present to the buyers your business's earnings in recast nancial declarations. The goal is to make the most of the discussion of take-home pay as well as cash money ow. Purchasers need to know the real cash money ow and also the income-generating capacity of the business.
You will certainly likewise require to present to the customer exactly how much cash money ow they will certainly have offered to them upon purchasing your service. Aid a customer see prospective in your company by offering them a development strategy; a roadmap to chances that the brand-new owner might explore, presuming additional resources were offered.
A service' perceived worth reveals a potential to expand, as long as the prospective customer has the sources to support that possibility. Literally make your business look appealing. Take an objective sight of your organisation and also do away with the clutter. Organize, make it look attractive as well as offer it a curb charm for any kind of possible buyer that visits.
The look of a service goes a long method toward developing a prospective buyer's condence that they are buying a well taken care of service. Strategy what your life will resemble after you offer your company. This is not a crucial action to selling your company, instead a foundation for preparing and safeguarding your future.
Whether you are retiring or occupying various other opportunities, you will require to prepare just how the prots (if there are any kind of) will certainly be spent as well as what your next steps are mosting likely to be. Connected: Preparation for the sale of your service involves investing your time to ensure that you can see the benets after the sale.
Published by ExitAdviser 2018-08-24 Fast-track your service sale with ExitAdviser (this website), an end-to-end remedy for single owners. ExitAdviser (this internet site) supplies little service owners with an end-to-end platform to prepare, appraise, and note their companies up for sale. Share this.
Today's episode of the podcast, Robert Hirsch from Freedom Factory, talks about "How to Sell Your Share of a Business if You Have Other Partners." When the time comes you want to sell your share of a business, it will help a lot if you know how to maximize the value of your business. Know the ins and outs of the processes involved in it. Here at Freedom Factory, we help entrepreneurs sell businesses. Listen to the podcast or watch the video here here https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Selling your share of a business is a decision that has to be thought of time and again. It isn’t easy coming up with a decision to sell your share, especially if your business partners have expected you to be with them throughout the duration of the business. When the time comes to sell your share of the business, it will help a lot if you have someone who knows the ins and outs of the processes involved in selling a share of the business. You could sell it to your business partner or sell it to someone who is not connected with the business. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-to-sell-your-share-of-a-business-if-you-have-other-partners 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. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM How do I Connect to My Purpose with My Business? https://www.youtube.com/watch?v=I8UeaNqCUtw Grow a Business or Buy a Business? https://www.youtube.com/watch?v=tRnGER_zV1Q #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "How to Stay Involved in My Business but Sell the Majority." Selling a part of your business regardless of its size requires some forethought, strategies, and careful implementation. In most cases, it's a great way to raise capital, incentivize employees, or bring new talent and ideas into a business. Find out how to sell the majority of your company and, at the same time, still stay involved with the business operation. Listen to the podcast or watch the video here https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Just because you are selling your business does not necessarily mean you are going to sell your entire share. You can sell the majority of your company and, at the same time, still stay involved with the business operation. This scenario is common in business owners who need to let go of the majority of their share for whatever reasons but still want to be attached to the company because they have learned to love their business. It could be a win-win situation both for the seller and the buyer. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-to-stay-involved-in-my-business-but-sell-the-majority 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 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 How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM Seller Beware! The Big Reasons Deals Don't Close https://www.youtube.com/watch?v=O4PDva5qwYs #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
Today's episode of the podcast, Robert Hirsch from Freedom Factory, talks about "How do I Approach a Competitor to Buy My Business?." Approaching a competitor to buy your business may sound unusual, but it's actually a way to take an easier sales process. For both parties, this is a win-win situation. Get the competitor to buy your profitable and probable business by choosing the right actions in selling it. Maximize the sales price of your business here at Freedom Factory. Listen to the podcast or watch the video here. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Hi, it's Robert from Freedom Factory. And I want to talk to you about something pretty new ones today, which is how to approach a competitor to buy your business or how to sell your business to a competitor. And it's a question that a lot of entrepreneurs have, but it's really difficult and it depends on a lot of factors, right?
Are they larger or are they smaller? Competitors or what I call coopetition or friendly competitors. Do you have an existing relationship or when you're both speaking at the trade shows, do you walk by each other with a look on your face? These are the little complex pieces to be able to do it because what every entrepreneur fears, I know what I fear. If I went to one of my competitors and said, Hey, are you interested in buying from me? They're going to use that in the marketplace to sell against me. Well, I mean, who knows how long they're going to be in business. They approached to me to sell.
That's the last thing that I want out there. So here at Freedom Factory, one of the big things is to use an intermediary. When you're selling your business, a broker is great, to be able to approach a competitor and still keep you anonymous. Using a consultant is very good if it's a competition kind of an internal type piece.
But there are certain things that you really want to avoid when approaching competitor. One thing that can make it really digestible is put yourself in that competitor's shoes and think about why they would want to buy your business because if you can make the right case to them on why it makes sense to buy your business, of course they're going to fall in and it's going to make a lot of sense.
Hi, I'm Robert Hirsch and I've been an entrepreneur for more than 25 years. I'm the CEO of Freedom Factory, and all we do is help our fellow entrepreneurs sell their business. The one key takeaway that I would think about when you're looking at how to approach a competitor is never approach a competitor and use that as your only sales option because if you do, one of two things is going to happen. One, some of the things that we talked about and some of your fears come true or a second, it's a pretty uncompetitive environment and you don't sell your business for maximum value. You've worked, in some cases, two, five, 10, 20 years on your business, you want to maximize the value from it.
So when I look at a competitive sale, even if I think that's going to be profitable and probable, I always do it as a part of a larger sales process. Meaning I'm always looking to increase the deal tension. So I still advertise it in 27 different places. I still go out to private equity firms and venture capital firms and entrepreneurial organizations, even if I think a competitor is likely to buy it.
And the reason that we do that is we want to maximize the deal tension. So what I mean by maximize deal tension is you want multiple people that are interested in your business, but not just multiple people that are interested. You want multiple people that are interested at the same time. Right. There's only one of your business. When you have multiple people wanting to write a check, it can get very competitive and we can often maximize the sales price.
So when you're thinking about selling it to a competitor, and maybe that's a way to take an easier sales process, I would really caution you to do so, because if so, there's really two options and neither of them benefit you or the entrepreneur. Now if you want to talk about how to approach competitors or what's your business worth or how do I run a process on your business? Why don't you give us a call at Freedom Factory? It's free. We're happy to dive in and we're looking at comps every day, and again, as an entrepreneur, the better information you have, the better decisions you're going to make it. We would love to be on your team. I'm Robert and I look forward to speaking with you soon.
Approaching a competitor to buy your business may sound a bit off, but it benefits the buyer and the seller. It could be a win-win situation for both parties. All that is left is to figure out how to approach a competitor to buy your business. The process could be daunting, especially if you have not had any experience selling a business to a competitor. Fortunately, there are brokerage firms that will help you with the right steps to take to sell your business to a competitor successfully. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-do-i-approach-a-competitor-to-buy-my-business 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. Time to Find Freedom and Buy Your Own Business https://youtu.be/gVzsFNncjpE How are Brokers Different from Investment Bankers? https://www.youtube.com/watch?v=gSJ4ilf_3oc How do I Connect to My Purpose with My Business? https://youtu.be/I8UeaNqCUtw 3 Ways to Maximize Your Company's Value https://youtu.be/nNLMphNGoxU #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
Robert Hirsch from Freedom Factory talks about "Secret Value of Selling Your E-Commerce or Digital Business." When you have an e-commerce or digital business that has seen increasing revenue, and you're looking forward to selling it, it would help if you know how to maximize your online or digital asset sales. Unleash the secret value of selling your business and determine how to maximize your sales price to its maximum value. Listen to the podcast or watch the video here https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Hi, today I want to talk to you about selling your eCommerce or your digital business, and in my opinion, there's that a more undervalued business class on the planet. For example, let's say you have a shopper, a bowling alley in the town that you live in. There's only a limited amount of people that are going to live in that town or are going to move there in order to run it.
Now, if you have a business that's not geographically located, let's say it’s an information product business or a coaching business or a fulfilled by Amazon business, or just a hard product business. If anybody can live there or anybody can buy it and they're not forced to relocate, it makes your buyer pool so much bigger. And as we learned in economics, price is when supply equals demand. And what I mean by that is if you have 50 buyers competing for your business, instead of five buyers, their price is going to be higher. And we want to maximize the sales price of your business.
Hi, my name's Robert Hirsch, and I'm the founder of Freedom Factory. And what I wanted to talk to you about today was really how to maximize online or digital asset sales. So in my opinion, the buyer pool is so much larger than it's ever been. In fact, in our experience, about one third of our buyers or sellers have been international or outside the States, and when you increase the buyer pool, the price goes up significantly.
So what we want to do is maximize your multiple. We want to maximize your earnings and we want to get the biggest buyer pool we can. And what we've learned is whether you're marketing to entrepreneurs and EO and YPO networks, or you're marketing through traditional advertising or to private equity or venture capital, the way we attract international buyers is different than the way we attract domestic buyers.
And so when you're selling a digital asset, the most important thing is the marketing putting together the right book, the right story and really maximizing the sales price. If you have questions on any of the things that we've talked about today or specifically, is it a good time to sell my digital business? Why don't you give us a call at Freedom Factory? I look forward to speaking with you soon.
Today's episode of the podcast, Robert Hirsch from Freedom Factory, talks about "Can I Sell My Business By Myself or do I Need Help?." Selling the business yourself allows you to save money. However, it can be a time-consuming process and an emotional venture for most of the business owners. Remember that when selling, your objective is to get the maximum value, find the right buyer, and make the best terms. Get the best out of your business. Listen to the podcast or watch the video here. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Selling a business can be done on your own or by the help of a brokerage firm. There are pros and cons to selling a business by yourself and asking advice from experts like a brokerage firm. The majority of business owners who want to sell their business ask help from experts, especially in maximizing the value of the company. The selling process is a tedious one, and without the help of experts, you could end up in the losing end of the deal. Asking help from a brokerage firm specializing in selling businesses may sound a more practical and smarter choice. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/can-i-sell-my-business-by-myself-or-do-i-need-help 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 is The Myth of the Million Dollar Idea? https://youtu.be/4CeX0STdxos Caution: What is the Trap of the Working Wealthy? https://youtu.be/NarnoTQlJkg Key Difference Between Owning a Business and Owning a Job https://youtu.be/GefZay3j0Bc What is Entrepreneurial Freedom? https://youtu.be/ziY-Jgbj1Yc #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
Today's episode of the podcast, Robert Hirsch from freedom factory, talks about "Time to Find Freedom and Buy Your Own Business." Buying a business is a valuable entrepreneurial feat that will transform your life, especially when you want to achieve time and financial freedom. Buy the right business for you, and take advantage of your unique abilities here at Freedom Factory. Listen to the podcast or watch the video here. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Hey, it's Robert from Freedom Factory, and I want to talk to you about something that is a really strong belief of mine, but I was in a forum meeting with my fellow group of entrepreneurs and one of my friends looked at me and he said, is buying a business really the most undervalued asset class? You've said that to me often, but I don't know if I necessarily believe it. So I wanted to go through some simple math and the way I look at buying a business and the way I look at other investments. For example, if you buy a business for four times earnings, and let's say you don't make any changes, it's flat, it doesn't grow, whatever. Your changes don't work. That's going to give you a 25% return, meaning it's going to pay for itself in four years because you bought it four times earnings.
Now, on the other hand, let's say you go buy a stock. Let's say that stock has a price to earnings ratio, which is really just a multiple of 33 well, you're buying it at 3% so I mean, what you're really hoping for is maybe 5% after taxes.
So when I look at what that looks like in three years or five years, and use any financial calculator that you want, and you look at the time value of money, those returns make such a massive difference. Warren Buffett's business partner is a guy named Charlie Munger. And Charlie Munger, they asked him, they said, if you were a young man and you were starting again, and there was no Berkshire Hathaway, what would you do?
And he said, I would buy as many software of service companies as I could at five to seven times earnings, which is generally what they go for with low churn, meaning they don't change. And I would change my whole time to forever. So once again, he would buy software as a service companies at five to seven times earnings. With very low churn and it would hold them forever. So he also sees that small businesses are the most undervalued asset class in America. So if you've ever thought about buying a business or how do you find a business that trades at three times earnings or four times earnings or five times earnings, why don't you give us a call at Freedom Factory?
Because I'll tell you, some of the deals that we see are just incredible. And I think money is made on the buy, not on the sell. And if you can buy the right business, especially want to take advantage of your unique abilities are stupid human trick. And I've talked about that in other videos, but what I mean, let's say you find a great engineering company that has a sales problem and you're an extraordinary salesperson. All of a sudden, if you buy that at 4x and you can double it in two years. Well, your return is unbelievable. So if you've ever thought about buying a business or selling a business, give us a call here at Freedom Factory. I look forward to talking to you soon.
Today's episode of the podcast, Robert Hirsch from the freedom factory, talks about, "What is The Myth of the Million Dollar Idea?." Determining a million-dollar idea to start your own business may not make you millions. Yes, you read that right. What makes business works is nothing but the million-dollar execution. Here in Freedom Factory, we will support you in acquiring and developing this million-dollar execution. Listen to the podcast or watch the video here. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
Hey, it's Robert from Freedom Factory, and I want to talk to you about an entrepreneurial truth and what I call this is the myth of the million-dollar idea. The other day I was talking to a friend of mine and he was looking at our company and he said, man, I wish I had that idea. And I talked to him about the myth of the million-dollar idea.
And I said, that million dollar ideas don't exist. And he didn't understand what I meant. So then I asked him a question. I said, what's the difference between a million-dollar idea and $1 million? And he thought about it for a second and he said, well, I don't know. And I said, well, it's a million-dollar execution.
And the good news is million-dollar execution is a learnable, teachable skill. Now, it doesn't matter if you have a business brokerage like we do, or software companies or boat manufacturers or any of the types of companies that we've talked about in the past. The difference between that million-dollar idea and the million dollars is million-dollar execution. And I want you to think about that.
The great news is million-dollar execution. Is a learnable, teachable skill. All machines are the same. When we're building a machine, there's revenue, there's sales, there's marketing, there's infrastructure. You figure out what you need to do and you work on your business, not in it, and it doesn't really matter what kind of business it is. Now, if you learn how to build the machines, for example, let's say you have a sales problem. If you go out and read a How to Win Friends and Influence People by Dale Carnegie, it's going to help you with your sales no matter what kind of business you're in, no matter how many businesses that you do.
So there's a set amount of entrepreneurial lessons and it's your choice. You can learn them fast or you can learn them slow. But I would figure out what your biggest strengths are and I would accentuate those and I'd figure out your biggest weaknesses and I would either hire to address those or I would work on acquiring the skills to be able to get a complete skill set there and be able to develop million-dollar execution, because once you have million dollar execution, you can change the world in so many ways. You can build a machine, any machine, and so I wouldn't get lost on the idea of $1 million idea or the myth of the million-dollar idea.
People say all the time, they say, I wish I thought of the pet rock. Well, it wasn't the pet rock. The person that started the pet rock understood million-dollar execution. And the good news is, so can you. If you have any questions about any of the things that we've talked about, why don't you give us a call it Freedom Factory. I'm Robert and we'll talk to you soon.
