January 25, 2021

534: Michelle Seiler Tucker | How to Sell Your Business

38 minutes

With eight out of every ten businesses never selling, what can you do to make sure your business is firing on all cylinders? In this episode, we’ll be talking with Michelle Seiler Tucker, the preeminent expert on buying, selling, fixing, and growing businesses. Her proven track record boasts a 98% closing of offers she writes.

The secret lies in the way she partners and collaborates with business owners by understanding that their businesses are like their ‘babies’ and should be handled as such. She is also the author of the books, ‘Exit Rich,’ and ‘Sell Your Business for More than it’s worth.’

Join in this episode and let’s explore the strategies that Michelle uses to successfully sell businesses.

Things you will learn in this episode:

[00:01 - 08:10] Opening Segment

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I introduce today’s guest Michelle Seiler Tucker

Merger and Acquisition

Sold hundreds of businesses

Be sure to check out Guestio and start booking influential guests today

Michelle talks about her book Exit Rich

8 out of 10 businesses will not sell

The challenge businesses face today

Build a sustainable, scalable business

Link and offer below

Michelle gives some background on herself

Father sold his business then moved to Texas

Witnesses the transformation of Austin

[08:11 - 16:44] Getting into the Business of Selling Businesses

Michelle talks about what inspired her to follow her path

Curious about people

A love for writing

From corporate worker to VP

Missing entrepreneurship

Venturing into franchise selling

Putting Xerox on the map

Missing the foundation to handle success

Michelle shares about her college life

Started out in medical

High value on schooling and also entrepreneurship

Getting into selling businesses

Started by selling small businesses

Transitioned into million-dollar businesses

Learned the need to fix businesses first

[16:45 - 32:41] How to Sell Your Business

Michelle walks us through the 6 P’s

Always innovate and market

People - building up people

Ask the Who’s

Don’t be next to the Who

Product - Ask about your industry

The Covid example

Pivot - Know when it’s time to change

The Amazon example

How can we improve the experience

A word from our sponsor

The next 3 P’s

Process - designed with the customer in mind

The Founder example

Vision vs. Integrator

Be well documented

Proprietary

Branding

Trademarks

Patents

Contracts

Databases

Endorsements

Profits

[32:42 - 38:29] Closing Segment

The typical timeline to sell your business

The healthiest, high earning businesses sell the fastest

How owner compliance comes into play

Who you know, or What you know?

If you the right person you can always grow

Network = Networth

ThE RaNDoM RoUnD

How to reach out to Michelle

Links below

Final words

Tweetable Quotes:

“8 out of 10 businesses will not sell…” - Michelle Seiler Tucker

“You don’t build a business you build people and the people build the business.” - Michel Seiler Tucker

“Build your brand because the more well-branded you are the more that you will get for the sale of your business.” - Michelle Seiler Tucker

Resources Mentioned:

Exit Rich

Sell Your Business for More than it's Worth

Rich Dad, Poor Dad

The Founder

You can connect with Michelle on LinkedIn, Instagram, Facebook, and Twitter. Check out her website https://seilertucker.com/ to learn even more.

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