This week, Tony talks to Marvin Storm, founder of the Business Exit Stories Podcast and author of the book 'Pack Your Parachute - How To Double The Amount Of Money You Put In Your Pocket When You Sell Your Business'

Marvin discusses the ways in which you can ensure you achieve a far higher return on the sale of your business when the time comes, and make sure that your financial future is in much better shape as a result.

KEY TAKEAWAYS

• Every entrepreneur has to, at some point in their journey, consider their exit strategy. This can take the form of sale, or even retirement, but it's a part of the business journey that is inevitable.
• Buyers of businesses are thorough. They're in the market for a solution to people's problems that can be monetised. Make sure your business is serving a need and it will be far more attractive to potential purchasers.
• With tumultuous changes in the business landscape, there are many opportunities to be had in terms of buying businesses. Many owners are looking for exits.
• Strategic business owners will always prepare for the worst ahead of time. We don't pack a parachute while the plane is going down - we do it beforehand in case of difficulties.

BEST MOMENTS

'The reality doesn't match the dream all the time'

'If you can dial into this, that becomes very intriguing to a strategic buyer'

'You need to have your parachute already packed...'

'You have to have the right team of people around you'

VALUABLE RESOURCES

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ABOUT THE GUEST

MARVIN STORM

A while back, I sold my business and thought I would sit back, take it easy and enjoy life. It didn't take long before I was bored stiff. This got me to thinking about my last exit. I realized that if I had been better prepared for this exit, I could have done a lot better for myself.

My entrepreneurial juices fueled this thought process that has led me to start the Business Exit Stories Podcast, write a book: Pack Your Parachute – How to Double the Amount of Money You Put in Your Pocket When You Sell Your Business, and developing a process to maximize the enterprise value of a business prior to exit.

Every entrepreneur is going to need to exit their business sooner or later. The type of exit they have will largely depend on what they do to position their business for their eventual exit. Taking the time before exiting a business can double or tripling the exit value when they sell their business.

Discover More

https://www.linkedIn.com/in/marvinlstorm

https://businessexitstories.com/

ABOUT THE HOST

Tony Thomas is a published author, one of the top financial advisers in the UK voted for by his clients, the first Chartered Financial Planner in the UK, Independent Financial Adviser, Mentor, Trainer. Life Planner and Money Coach. He is also a pension and investment specialist as well as the regional Chartered Champion for South Wales.  

“Live For Today, Invest For Tomorrow”

CONTACT

Tony's official website: https://ttwealth.co.uk/

Facebook: https://www.facebook.com/TonyThomas.IFA/

LinkedIn: https://www.linkedin.com/in/tonythomas2/

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