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
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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
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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
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from https://twitter.com/FreedomFactory7/status/1254812632722350081 Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Strategy to Sell My Business if I am in EO Entrepreneurs Organization". Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory
Secret Value of Selling Your E-Commerce or Digital Business
Transcript of Podcast 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.
Thank you so much for watching. Please like and subscribe. Contact Freedom FactoryFreedom Factory Also, Follow Freedom Factory here Best Business Brokers - video portfolio Available on Youtube: Managing PartnersLearn more about the managing partners, Tyler Tysdal, and Robert Hirsch. from http://freedomfactory.libsyn.com/strategy-to-sell-my-business-if-i-am-in-eo-entrepreneurs-organization
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
from https://www.youtube.com/watch?v=m_1_hJv4PdQ
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
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from https://twitter.com/FreedomFactory7/status/1253730505427685379 Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How do I Sell My Business Without a Broker". Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory How to Build My Business Into a Machine vs. a Job - Crypto Part 1 How to Build My Business Into a Machine vs. a Job - Crypto Part 2
Transcript of Podcast 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.
Thank you so much for watching. Please hit like and subscribe. Contact Freedom FactoryFreedom Factory Also, Follow Freedom Factory here Best Business Brokers - video portfolio Available on Youtube: Managing PartnersLearn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
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