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Ian Brent - How To Exit & SELL Your Business
Corporate lawyer Ian Brent joins Mike to discuss the planning and actions that can be implemented to increase the multiple of a business prior to it being sold
The multiple only becomes relevant at the point of sale but to make a positive change you need to start working to increase the multiple several years prior to selling
Hear about the importance of a strong management team, why potential buyers will judge your business on how it runs without you and how you can plan ahead with the end in mind to make your business attractive to the right buyers
Follow Ian on Linkedin - https://www.linkedin.com/in/ian-brent/?originalSubdomain=uk
KEY TAKEAWAYS
- Average is the bottom of the top, the top of the bottom
- The most important element is having a strong management team, winning teams only have the best players
- You should be planning three years in advance of wanting to exit
- Small changes can alter the multiples of a business
- Showing a steady pattern of growth will drive the multiple up
- A buyer will want risk spread through several customers not focused on one or two big customers
- Different sectors are hotter and attract higher multiples
- Plan ahead and make your business attractive to buyers
- There is only one number-one player in any sector and people will pay a premium for the number one
- Buy and build, bringing together several similar businesses, and aggregating them can increase the multiple
BEST MOMENTS
‘A buyer will judge your business on how well it runs without you’
‘If you can move from 6 to 10 that’s 2 million in free money’
‘People do business with people they know like and trust’
ABOUT MIKE GREENE
Mike Greene, star of Channel 4's Secret Millionaire, interviews some of the leading business-people of our generation. Mike reveals the key systems that these entrepreneurs have in place to achieve their version of success. Because success isn't luck, Success is a System.
Subscribe to Mike on YouTube - https://www.youtube.com/channel/UCMtHlqOmNeiaYm-ICZcSOSA
Follow Mike on LinkedIn - https://www.linkedin.com/in/mikegreenemg/
Follow Mike on TikTok - https://www.tiktok.com/@mikegreenej1qt?is_from_webapp=1&sender_device=pc
View all episodes
By Mike GreeneCorporate lawyer Ian Brent joins Mike to discuss the planning and actions that can be implemented to increase the multiple of a business prior to it being sold
The multiple only becomes relevant at the point of sale but to make a positive change you need to start working to increase the multiple several years prior to selling
Hear about the importance of a strong management team, why potential buyers will judge your business on how it runs without you and how you can plan ahead with the end in mind to make your business attractive to the right buyers
Follow Ian on Linkedin - https://www.linkedin.com/in/ian-brent/?originalSubdomain=uk
KEY TAKEAWAYS
- Average is the bottom of the top, the top of the bottom
- The most important element is having a strong management team, winning teams only have the best players
- You should be planning three years in advance of wanting to exit
- Small changes can alter the multiples of a business
- Showing a steady pattern of growth will drive the multiple up
- A buyer will want risk spread through several customers not focused on one or two big customers
- Different sectors are hotter and attract higher multiples
- Plan ahead and make your business attractive to buyers
- There is only one number-one player in any sector and people will pay a premium for the number one
- Buy and build, bringing together several similar businesses, and aggregating them can increase the multiple
BEST MOMENTS
‘A buyer will judge your business on how well it runs without you’
‘If you can move from 6 to 10 that’s 2 million in free money’
‘People do business with people they know like and trust’
ABOUT MIKE GREENE
Mike Greene, star of Channel 4's Secret Millionaire, interviews some of the leading business-people of our generation. Mike reveals the key systems that these entrepreneurs have in place to achieve their version of success. Because success isn't luck, Success is a System.
Subscribe to Mike on YouTube - https://www.youtube.com/channel/UCMtHlqOmNeiaYm-ICZcSOSA
Follow Mike on LinkedIn - https://www.linkedin.com/in/mikegreenemg/
Follow Mike on TikTok - https://www.tiktok.com/@mikegreenej1qt?is_from_webapp=1&sender_device=pc