Capability Amplifier

How To Prepare Your Business For A HUGELY Successful Exit


Listen Later

What would it feel like to receive a check or wire transfer for $5, $10, or $100 MILLION when you successfully sell your business? HOLY SHIZZLE!
 I’ve done it FOUR times, and I can tell you from experience, it can either be a horrible experience or an exhilarating one depending on whether you know what you’re doing.
 
 This week on the show, my co-host, Dan Sullivan, and I talk about something that can really feel like a near-death experience in the entrepreneurial world … SELLING your company! We’re talking about your BABY! Something you nurtured, grew, and put all of your focus and energy into. Then sometimes you get to a point where you're actually thinking about selling your baby … NOW WHAT?
 
 In Dan’s and my experience, nine out of 10 times, the entrepreneur doing the selling has a VERY negative experience. There are a ton of reasons for this that we get into in this episode. Plus, I share my most valuable secrets for having a super successful and profitable exit.
 
 Okay, let’s talk about the fact that MOST of us, myself included, have NO clue how to exit our first business. As a matter of fact, my first business cost me my first marriage, my sanity, and near bankruptcy. And my third business was a MAJOR contributing factor in my getting cancer because of the stress it put on my body.
 
 We get into this thinking that we're going to get to a “certain point” in our business where everything will be just “hunky-dory,” so in the beginning we trade time for money and compress all our energy for the big payout ... the “BIG CHECK!” The thought of, “Wow, what would it feel like to have my ‘f*#k you number’?!” The number where you’d actually have financial freedom and everything it represents, and so often … THAT becomes the driver INSTEAD of having what I regard as the “pure thought process.” That’s experiencing pure GRATITUDE for being able to provide great service and great value to an audience who loves you as their hero and being rewarded for THAT instead.
 
 That’s really what the game of business is all about.
 
 Some of the key points that we cover in this episode:
 
 * How I successfully and NOT so successfully sold four different companies (what to do and what NOT to do).
 * How I woke up one day and knew I was done (with my last company) so I made the decision to get rid of all the things that didn't serve my body, family, marriage, son, and purpose because it just didn't feel right anymore.
 * How Dan has only ever had ONE company and plans on keeping it that way because it serves him and his mission well.
 * EXACTLY what buyers are looking for in a company when they buy it.
 * The ONE BILLION dollar sale of one of Dan’s clients’ businesses and the correct motivation behind it.
 * How to approach the sale of your company like you’re the BUYER.
 * How important it is to TRAIN your audience how to buy from you.
 * How passion and experience play a BIG role in the success of most entrepreneurs’ first businesses and those sales.
 * The BEST exit mindset to adopt for success.
 * The importance of taking time off after you sell a company to HEAL, but why getting back in the saddle within a year is important too.
 
 Two of the most VALUABLE pieces of advice I can give you as someone who’s owned and sold four businesses is:
 
 * When selling a business, make SURE you have complete and total detachment. The moment you hand over the keys, if you're attached in any way to the “baby,” you just allowed someone to adopt knowing that you may never see them again ... you're in trouble.
 * The investment is never actually in the product. The investment is in the entrepreneur. Our smartest investments are ALWAYS in people.
 
 As usual, there’s always MORE. Dan and I LOVE elevating and amplifying your life!

...more
View all episodesView all episodes
Download on the App Store

Capability AmplifierBy Mike Koenigs and Dan Sullivan of Strategic Coach

  • 4.8
  • 4.8
  • 4.8
  • 4.8
  • 4.8

4.8

72 ratings


More shows like Capability Amplifier

View all
The Smart Passive Income Online Business and Blogging Podcast by Pat Flynn

The Smart Passive Income Online Business and Blogging Podcast

3,440 Listeners

Exponential Wisdom by Dan Sullivan of Strategic Coach & Peter Diamandis of XPRIZE / Singularity University

Exponential Wisdom

213 Listeners

Multiplier Mindset® with Dan Sullivan by Dan Sullivan and Strategic Coach

Multiplier Mindset® with Dan Sullivan

109 Listeners

10x Talk by Joe Polish of Genius Network and Dan Sullivan of Strategic Coach

10x Talk

149 Listeners

Shannon Waller's Team Success by Shannon Waller

Shannon Waller's Team Success

47 Listeners

The StoryBrand Podcast by StoryBrand.com

The StoryBrand Podcast

1,934 Listeners

The Tony Robbins Podcast by Tony Robbins

The Tony Robbins Podcast

6,358 Listeners

Inside Strategic Coach: Connecting Entrepreneurs With What Really Matters by Dan Sullivan and Shannon Waller

Inside Strategic Coach: Connecting Entrepreneurs With What Really Matters

127 Listeners

THE ED MYLETT SHOW by Ed Mylett | Cumulus Podcast Network

THE ED MYLETT SHOW

14,004 Listeners

The ONE Thing by Keller Podcast Network

The ONE Thing

1,110 Listeners

The Game with Alex Hormozi by Alex Hormozi

The Game with Alex Hormozi

4,457 Listeners

Free Zone Frontier by Dan Sullivan of Strategic Coach And Steve Krein of StartUp Health

Free Zone Frontier

15 Listeners

DarrenDaily On-Demand by Darren Hardy LLC

DarrenDaily On-Demand

1,735 Listeners

Anything And Everything by Dan Sullivan and Jeffrey Madoff

Anything And Everything

11 Listeners

The BetterLife Podcast by Brandon Turner and Cam Cathcart

The BetterLife Podcast

851 Listeners