Should you sell your business in this economy?

Today we are joined again by Michelle Seiler Tucker, Michelle is the leading authority on buying, selling, and improving businesses, as well as increasing a business’ revenue streams. She is also the Founder and CEO of Seiler Tucker Incorporated. Sold over 1000 businesses to date and currently owns and operates several successful businesses. Author of WSJ & USA TODAY Bestseller EXIT RICH: the method to sell your business for huge profit. 

In this episode Michelle and Travis discuss when it’s the right moment to buy or sell any business, how business owners can make their business more attractive to buyers and what mistakes to avoid when building a brand.

Michelle expands on her 6P Method and how it helps business owners get the most value possible when selling their company. She also explains why every business owner should think of an exit strategy and why most people fail to sell their business. 

 

Key Highlights: 

 

[00:01 - 09:18]  Exiting Your Business

Selling your business at the right moment

The GPS Exit Model

Preparing your business for selling

Leveraging Synergies to increase the value of a business 

 

[09:19 - 18:04] The 6P Method for Maximum Value

People

Product

Process

Proprietary

Patrons

Profit

 

[18:04 -24:29] What Buyers are Looking For

Michelle expands on what makes a business attractive to buyers

Getting clear on your numbers will attract buyers

The challenges small business owners face when selling

 

[24:30 -37:37] How to Acquire Businesses 

Business recovering from all what’s happened in the last few years

Why an advisor can make a better assessment of the business 

Getting clear on the real reason behind selling a business

 

 

Tweetable Quotes: 

“The quickest way to grow a business is through acquisitions ” -  Michelle Seiler Tucker

“Lack of profits is not a problem, is a symptom of other problems” -  Michelle Seiler Tucker

“Sell when your business is doing great because you’ll always have buyers” - Michelle Seiler Tucker

 

Connect with Michelle:

LinkedIn

 

Order Michelle’s book:

Exit Rich

 

Follow Michelle on:  

Instagram: @michelleseilertucker

 

Listen to the Exit Rich Podcast here

          

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