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At freedom factory we have experienced witnessed the explosive results of entrepreneurs we are business broker that can help you sell your business.
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Strategy to Sell My Business if I am in YPO (Young Presidents’ Organization)”.#business #entrepreneurship #startbusiness https://t.co/Vazi3oQpf8
— Freedom Factory (@FreedomFactory7) April 29, 2020
YPO stands for the Young President’s Organization, which means you were able to hit a particular level of growth in your business. The majority of entrepreneurs don’t hit that specific level. But despite the growth, there will inevitably come a time when you have to sell your business for whatever reasons it might be. You have different options to sell a business, such as selling it on your own or through a business broker. Each comes with pros and cons, but if you want to maximize the sales price of your business, you have to entrust the selling process in the hands of experts. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/strategy-to-sell-my-business-if-i-am-in-ypo-young-presidents-organization Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. How to Stay Involved in My Business But Sell the Majority https://www.youtube.com/watch?v=mNQpAwCjf48 What is The Myth of the Million Dollar Idea? https://www.youtube.com/watch?v=4CeX0STdxos How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM What are the Secrets of Selling Your Business for Maximum Value? https://www.youtube.com/watch?v=5UKloSc4CI8 #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Strategy to Sell My Business if I am in EO Entrepreneurs Organization”. #business #entrepreneurship #startbusiness https://t.co/33TOmOCTgy
— Freedom Factory (@FreedomFactory7) April 27, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Strategy to Sell My Business if I am in EO Entrepreneurs Organization”.
Listen to the podcast, watch the video, or read the transcript below.
How do I Sell My Business without a Broker?
Secret Value of Selling Your E-Commerce or Digital Business
Transcript of Podcast
Hi, it’s Robert Hirsch here from Freedom Factory, and I want to talk to you about selling your business if you’re in the entrepreneur’s organization or EO. Now, I’ve been an entrepreneur for the better part of 25 years. And I remember when I first joined EO, it was YEO and I was in my early twenties and I learned of a lot.
The two things that really underpinned entrepreneurial growth for me were, one, a peer learning group like EO. And second was learning how to groom mentor relationships. If you think about a university or any type of learning environment, you usually have those two things that are helping it - the peer learning group or your classmates and the teacher or the mentor.
One of the things, when I was in EO, I was starting my business and I was a good entrepreneur, but I didn’t know what I didn’t know. And my solution to everything was make more revenue, some more stuff. That’s always what I was trying to do. If something came up and I didn’t know how to handle it, I would sell more stuff, but I rarely thought about selling my business. And so if I thought about it, or for example, when I was running software companies at the time, and when the company, that was my dream became my nightmare.
I had venture capitalists and I had financing and limited partners and we were behind plan and it wasn’t working. I would make a forum presentation. I’d go to my group and my group is seven people, and the reality was the forum was helpful and they were empathetic and they listened, but they had some constraints, right? One, no one had told the business yet. Two, we were stuck in gestalt and get shop protocol and not a lot of people had a lot of relevant experience to share.
When it came down to selling my business, the reason that I made the mistake is a good friend of mine that I trusted unequivocally said he knew someone that could help me sell it. But I never went through the process of determining if that was the right person. And the reality was, I’ve met this banker and I learned this important lesson, because we talked past each other, right? Bankers don’t speak entrepreneur and entrepreneurs don’t speak banker. And so he was telling me about what was happening, but I knew he wasn’t my tribe. I knew I needed to find an entrepreneur to help me sell my business and make sure it’s the right person.
For me as an entrepreneur my businesses is really a Trojan horse for me affecting the world or creating social change. And when I realized that we had enough LPs and it was a software company in the adventure travel space, and I realized that I wasn’t going to be able to do that, and I lost my passion for it. I knew the time was right to sell and I just didn’t know who to talk to.
So if you’re an entrepreneur and you’re thinking about selling your business, or you have questions about what it’s worth or what an exit looks like or deal structure. Why don’t you give us a call at Freedom Factory? We are all entrepreneurs. Most of us have been in EO or YPO or tiger 21 along the way and we’d love to help you.
I’m Robert and I look forward to speaking with you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Entrepreneurs Organization or EO is a community of entrepreneurs where its members can learn new insights in running their business. A peer learning group like EO plays a massive role in your overall growth as an entrepreneur. However, there is more in the world of business than what you can learn in EO. High revenue is the ultimate goal of every business, but a high income is not always a solution to every problem encountered in the business. When it comes to selling a business, you need to have a tested and proven effective strategy. That way, you can maximize the value of your business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/strategy-to-sell-my-business-if-i-am-in-eo-entrepreneurs-organization Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Sell My Business without a Broker? https://www.youtube.com/watch?v=i2Z6BB7V7dE What are the Secrets of Selling Your Business for Maximum Value? https://www.youtube.com/watch?v=5UKloSc4CI8 How to Stay Involved in My Business But Sell the Majority https://www.youtube.com/watch?v=mNQpAwCjf48 #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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While you may be all set to exit your service, reveal that your organisation still has chances in advance of it. Buyers don't want to get a company that prepares to start a down spiral or perhaps just stay flat. See to it you can credibly reveal 3 years of significant growth after the sale.
Nonetheless, many business owners aren't as well placed as Lafleche to bring in purchasers and an excellent selling price. Simply over half of company proprietors that intend to leave their company do not have any kind of sequence strategy, a 2011 survey by the Canadian Federation of Independent Business found. The consequences can be dire.
That, subsequently Tyler Tysdal, can have an extreme influence on your retired life. Guaranteeing your firm brings the most effective possible price can take several years of preparation, states Angelo Zeni, a director at BDC's Growth & Shift Capital. "Business owners must have a five-year strategy so they do not need to clamber to obtain their company prepared offer for sale," claims Zeni, whose group supplies mezzanine financing for company shifts.
"You want a possible customer to be confident the service will grow when you're gone," Zeni claims. Barry Wood saw all of these attributes at Ontario Excavac. He had led five previous service purchases, so he recognized specifically what type of firm he desired to get. For his most current procurement, he took into consideration 60 to 70 different businesses prior to lastly locating Lafleche's firm. Tyler Tysdal.
He also liked the firm's close connections with customers. "I saw Ontario Excavac as having excellent organisation opportunities and excellent client relationships in a growing market, with more potential customers for growth," claims Timber, that relied on BDC's Development & Change Funding to help fund the deal. Timber wants to ignore some problems if a business has great business prospects.
Timber's idea in Ontario Excavac's leads proved spot-on. After the acquisition, which took place in early 2014, he made a couple of modifications, consisting of doing even more vehicle maintenance in-house, which led to a 50% drop in unscheduled downtime because of mechanical issues. Wood additionally hired a Human Resources manager, improving recruitment as the firm added 20 employees and 10 brand-new hydrovac trucks.
Lots of various other elements can affect evaluation, including goodwill, copyright as well as the business's place. A valuator commonly looks for to validate EBITDA by applying other assessment approachesfirst, computing the value of the firm's substantial as well as abstract possessions and, 2nd, looking for what a similar services was offered. Your service may also be extra beneficial in pieces than in its entirety.
by Ryan Crow When you decide to offer your business without the assistance of an expert, you need to have all of your events in order and a clear plan as to how business will certainly be taken care of. Selling your business will certainly take a signicant financial investment of time, which is attention eliminated from the dayto-day operations of your organisation - Tyler Tysdal.
Prepare your service for its sale years prior to you in fact wish to exit the company. Start with completion in mind. When constructing a business, make certain you recognize what a future buyer will be looking for and also what aspects they take into consideration to be attractive in a service. Potential purchasers are looking to see constant earnings development, prots as well as a lasting customer base (Tyler Tysdal).
Know what buyers are searching for. Some may want an income, investment, chance or any kind of mix of the 3. They require to really feel comfortable that business will remain to create the earnings they need. They will intend to see an opportunity to expand the service. Recasting your nancial statements and creating a growth strategy is important to enhancing the value of your business to prospective buyers.
You will wish to have nancial statements and also income tax return going back 3-5 years. Present to the purchasers your firm's earnings in recast nancial declarations. The objective is to optimize the discussion of internet revenue as well as cash money ow. Buyers wish to know the actual money ow as well as the income-generating capability of the company.
You will certainly likewise require to offer to the buyer exactly how much cash money ow they will have available to them upon acquiring your service. Assist a buyer see possible in your business by offering them a growth plan; a roadmap to opportunities that the brand-new owner can check out, assuming additional sources were readily available.
A business' viewed value shows a possible to increase, as long as the potential buyer has the sources to support that potential. Physically make your service look attractive. Take an objective sight of your business as well as remove the clutter. Organize, make it look attractive and give it a curb appeal for any kind of prospective customer that quits by.The appearance of an organisation goes a lengthy method toward building a prospective buyer's condence that they are purchasing a well taken care of business. Strategy what your life will be like after you offer your business. This is not a vital step to offering your company, instead a structure block for preparing and also protecting your future.
Whether you are retiring or taking up other possibilities, you will need to prepare just how the prots (if there are any) will certainly be spent and what your next steps are going to be. Connected: Planning for the sale of your company involves investing your time to ensure that you can see the benets after the sale.
Published by ExitAdviser 2018-08-24 Fast-track your business sale with ExitAdviser (this site), an end-to-end option for sole proprietors. ExitAdviser (this site) provides local business proprietors with an end-to-end platform to prepare, evaluate, and also provide their companies up for sale. Share this.
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How do I Sell My Business Without a Broker”. Listen to the podcast or watch the video here #business #entrepreneurship #startbusiness https://t.co/7hmkrePDT5
— Freedom Factory (@FreedomFactory7) April 24, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How do I Sell My Business Without a Broker”.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
How to Build My Business Into a Machine vs. a Job - Crypto Part 1
How to Build My Business Into a Machine vs. a Job - Crypto Part 2
Transcript of Podcast
As entrepreneurs, some of our best content is when we speak the unspeakable. And there are many people that give us a call here at Freedom Factory and they want us to sell their business but the problem is we can’t pay for ourselves. And if we can’t pay for ourselves, we don’t take them on as a client.
So I wanted to create a video, which kind of shows you the things to think about and essentially how to sell your business without a broker. So the first thing you want to think about is what’s your business worth? And valuation makes a lot of sense and there’s some factors to it as an online business, meaning can you sell it to anybody worldwide or do you have to live in a small community in your section of Ohio in order to sell it?
Because if so, the marketing plan is really different. And so you want to maximize your potential buyer pool and you want to maximize your marketing plan to reach them. For example, if we have an international business, we’ll go through 30 or 40 different channels to private equity and venture capital and entrepreneurs and angel investors, and we’re trying to get as many people interested as we can to find the right buyer.
And so a big part of that is valuation, or what does it take to bring your business to market? And if we can look at market comps and we can certainly help you with it if you give us a call. But if you don’t know, I would take your seller’s discretionary cash flow, which is kind of EBITDA plus your add backs. And I would think about a multiple of three to five times. And I’m assuming that you’re doing less than a million in earnings, and if there’s nothing that’s a sustainable competitive advantage and there’s not a lot of history, you’re going to be on the lower end of that scale.
And if you’ve been doing it for 20 years and you’ve got a huge reorder rate, you’re going to be on the higher end of that scale. But if you just have to pick something and go with a guide, three to five is a pretty good starting guide to go with. And then plus assets, if there’s real estate or capital expenditures, et cetera, et cetera, et cetera. So valuation is a big thing. And where do you want to come to market? And also another element to think about is how quickly do you want to sell it? Do you want to sell it in three months or do you want to sell it within a year? Because if so, your pricing strategy is going to be a little bit different.
So one of the things that we do at Freedom Factory is we do all the information before we even take it to market. So we create our prospectus and our book and our teasers and our NDAs and our contracts and our documents set before we even place the first ad.
So if somebody calls, they want information, boom, we send them the NDA. The teaser goes out, which the teaser can identify what your, business. It’s just your type in a general category, construction company with revenues of 16 million wants to sell, and then once they sign the NDA or the MNDA, which is a nondisclosure, then we go into the perspective to the book and we start to go deeper and deeper.
But the key part is you do all that before you take your first lead. And then you think, okay, well I’ve got to put together a doc set. You don’t want to not have your nondisclosure, not have LOIs, not have an asset purchase agreement or a stock purchase agreement, and you want to put all that together before you take it to market.
Now, some areas where you might want to sell without a broker, let’s say it’s a family sale and you’re selling to your children, and perhaps you’re carrying a seller’s note and they’re paying for your retirement. You don’t necessarily need a broker for that. Although I would recommend a great lawyer that really understands the perils of family business.
Another case that is analogous to that is let’s say you’re selling to your employees and a lot of people sell to their employees, and the downside of selling to a family member is you’re not going to maximize your value, but it’s not so bad because you’re selling it to your kids or to your relatives.
Now, if you’re selling it to your employees, you’re going to have the same downside. You’re not going to maximize the sales price of your business, and usually people do that if the business has several risk factors that makes it very difficult to go sell. And so when you’re doing that, I would still recommend engaging a broker, running an external process, and creating a competitive thing, especially on the employee side, creating a competitive market situation so they’re at least paying you fair market value for your business.
Now, you know, the final piece is what’s your marketing plan. Are you going to advertise this in the Wall Street Journal in the New York times or are you going to go out to private equity groups or are you just going to advertise it in your local paper? Because that’s really going to determine how many people are going to be interested and what type of process that you’re going for. Here at Freedom Factory, we run the top brokerage in the country and we’ve created a product for our customers where we’re not going to sell for them where we can’t pay for ourselves and it gives you 90% of the value. It gives you all your docs, your marketing plan, the same templates that we use. It gives you 90% of the value at less than 10% of the cost.
And so if you want to talk about that or go to market strategy or discuss any of the things that we’ve talked about in depth, just find our phone number below or drop us an email at Freedom Factory and we look forward to helping you soon. Thanks for spending your valuable time with us.
Thank you so much for watching. Please hit like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Selling a business without a broker may sound easy, but in reality, it is not, especially if you want to sell your business at the highest maximum value. Brokers specializing in selling businesses know the ins and outs of the corporate world. They are equipped with the knowledge, skills, and experience in selling your business and ensuring that all factors that could further increase the value of your company are taken care of. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-do-i-sell-my-business-without-a-broker Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Approach a Competitor to Buy My Business? https://www.youtube.com/watch?v=jnJVXvxwOnU How to Build My Business Into a Machine vs. a Job - Crypto Part 1 https://www.youtube.com/watch?v=Gi7YokI14VU How to Build My Business Into a Machine vs. a Job - Crypto Part 2 https://www.youtube.com/watch?v=pfue5SmAx9U #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How to Sell Your Share of a Business if You Have Other Partners”. #business #entrepreneurship #startbusiness https://t.co/gNKSnr9BOB
— Freedom Factory (@FreedomFactory7) April 22, 2020
Selling your share of a business is a decision that has to be thought of time and again. It isn’t easy coming up with a decision to sell your share, especially if your business partners have expected you to be with them throughout the duration of the business. When the time comes to sell your share of the business, it will help a lot if you have someone who knows the ins and outs of the processes involved in selling a share of the business. You could sell it to your business partner or sell it to someone who is not connected with the business. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-to-sell-your-share-of-a-business-if-you-have-other-partners Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Can I Sell My Business By Myself or do I Need Help? https://www.youtube.com/watch?v=Zlnmk0Y7Dcc How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM How do I Connect to My Purpose with My Business? https://www.youtube.com/watch?v=I8UeaNqCUtw Grow a Business or Buy a Business? https://www.youtube.com/watch?v=tRnGER_zV1Q #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How to Stay Involved in My Business But Sell the Majority”.#business #entrepreneurship #startbusiness https://t.co/DjYMEcJHT1
— Freedom Factory (@FreedomFactory7) April 20, 2020
Just because you are selling your business does not necessarily mean you are going to sell your entire share. You can sell the majority of your company and, at the same time, still stay involved with the business operation. This scenario is common in business owners who need to let go of the majority of their share for whatever reasons but still want to be attached to the company because they have learned to love their business. It could be a win-win situation both for the seller and the buyer. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-to-stay-involved-in-my-business-but-sell-the-majority Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. How do I Approach a Competitor to Buy My Business? https://www.youtube.com/watch?v=jnJVXvxwOnU Time to Find Freedom and Buy Your Own Business https://www.youtube.com/watch?v=gVzsFNncjpE How do I Build the Machine to Work ON My Business vs. IN the Business? https://www.youtube.com/watch?v=j2m-C10DGsM Seller Beware! The Big Reasons Deals Don’t Close https://www.youtube.com/watch?v=O4PDva5qwYs #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “How do I Approach a Competitor to Buy My Business”. #business #entrepreneurship #startbusiness https://t.co/e4Q5NqtuS1
— Freedom Factory (@FreedomFactory7) April 17, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory talks about “How do I Approach a Competitor to Buy My Business?.”
Listen to the podcast, watch the video, or read the transcript below.
What is The Myth of the Million Dollar Idea?
How are Brokers Different from Investment Bankers?
Transcript of Podcast
Hi, it’s Robert from Freedom Factory. And I want to talk to you about something pretty new ones today, which is how to approach a competitor to buy your business or how to sell your business to a competitor. And it’s a question that a lot of entrepreneurs have, but it’s really difficult and it depends on a lot of factors, right?
Are they larger or are they smaller? Competitors or what I call coopetition or friendly competitors. Do you have an existing relationship or when you’re both speaking at the trade shows, do you walk by each other with a look on your face? These are the little complex pieces to be able to do it because what every entrepreneur fears, I know what I fear. If I went to one of my competitors and said, Hey, are you interested in buying from me? They’re going to use that in the marketplace to sell against me. Well, I mean, who knows how long they’re going to be in business. They approached to me to sell.
That’s the last thing that I want out there. So here at Freedom Factory, one of the big things is to use an intermediary. When you’re selling your business, a broker is great, to be able to approach a competitor and still keep you anonymous. Using a consultant is very good if it’s a competition kind of an internal type piece.
But there are certain things that you really want to avoid when approaching competitor. One thing that can make it really digestible is put yourself in that competitor’s shoes and think about why they would want to buy your business because if you can make the right case to them on why it makes sense to buy your business, of course they’re going to fall in and it’s going to make a lot of sense.
Hi, I’m Robert Hirsch and I’ve been an entrepreneur for more than 25 years. I’m the CEO of Freedom Factory, and all we do is help our fellow entrepreneurs sell their business. The one key takeaway that I would think about when you’re looking at how to approach a competitor is never approach a competitor and use that as your only sales option because if you do, one of two things is going to happen. One, some of the things that we talked about and some of your fears come true or a second, it’s a pretty uncompetitive environment and you don’t sell your business for maximum value. You’ve worked, in some cases, two, five, 10, 20 years on your business, you want to maximize the value from it.
So when I look at a competitive sale, even if I think that’s going to be profitable and probable, I always do it as a part of a larger sales process. Meaning I’m always looking to increase the deal tension. So I still advertise it in 27 different places. I still go out to private equity firms and venture capital firms and entrepreneurial organizations, even if I think a competitor is likely to buy it.
And the reason that we do that is we want to maximize the deal tension. So what I mean by maximize deal tension is you want multiple people that are interested in your business, but not just multiple people that are interested. You want multiple people that are interested at the same time. Right. There’s only one of your business. When you have multiple people wanting to write a check, it can get very competitive and we can often maximize the sales price.
So when you’re thinking about selling it to a competitor, and maybe that’s a way to take an easier sales process, I would really caution you to do so, because if so, there’s really two options and neither of them benefit you or the entrepreneur. Now if you want to talk about how to approach competitors or what’s your business worth or how do I run a process on your business? Why don’t you give us a call at Freedom Factory? It’s free. We’re happy to dive in and we’re looking at comps every day, and again, as an entrepreneur, the better information you have, the better decisions you’re going to make it. We would love to be on your team. I’m Robert and I look forward to speaking with you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Approaching a competitor to buy your business may sound a bit off, but it benefits the buyer and the seller. It could be a win-win situation for both parties. All that is left is to figure out how to approach a competitor to buy your business. The process could be daunting, especially if you have not had any experience selling a business to a competitor. Fortunately, there are brokerage firms that will help you with the right steps to take to sell your business to a competitor successfully. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/how-do-i-approach-a-competitor-to-buy-my-business Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. Time to Find Freedom and Buy Your Own Business https://youtu.be/gVzsFNncjpE How are Brokers Different from Investment Bankers? https://www.youtube.com/watch?v=gSJ4ilf_3oc How do I Connect to My Purpose with My Business? https://youtu.be/I8UeaNqCUtw 3 Ways to Maximize Your Company’s Value https://youtu.be/nNLMphNGoxU #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from Freedom Factory discusses “Secret Value of Selling Your E-Commerce or Digital Business”. #business #entrepreneurship #startbusiness https://t.co/5xcvRLLQVn
— Freedom Factory (@FreedomFactory7) April 15, 2020
Robert Hirsch from Freedom Factory talks about “Secret Value of Selling Your E-Commerce or Digital Business”.
Listen to the podcast, watch the video, or read the transcript below.
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Transcript of Podcast
Hi, today I want to talk to you about selling your eCommerce or your digital business, and in my opinion, there’s that a more undervalued business class on the planet. For example, let’s say you have a shopper, a bowling alley in the town that you live in. There’s only a limited amount of people that are going to live in that town or are going to move there in order to run it.
Now, if you have a business that’s not geographically located, let’s say it’s an information product business or a coaching business or a fulfilled by Amazon business, or just a hard product business. If anybody can live there or anybody can buy it and they’re not forced to relocate, it makes your buyer pool so much bigger. And as we learned in economics, price is when supply equals demand. And what I mean by that is if you have 50 buyers competing for your business, instead of five buyers, their price is going to be higher. And we want to maximize the sales price of your business.
Hi, my name’s Robert Hirsch, and I’m the founder of Freedom Factory. And what I wanted to talk to you about today was really how to maximize online or digital asset sales. So in my opinion, the buyer pool is so much larger than it’s ever been. In fact, in our experience, about one third of our buyers or sellers have been international or outside the States, and when you increase the buyer pool, the price goes up significantly.
So what we want to do is maximize your multiple. We want to maximize your earnings and we want to get the biggest buyer pool we can. And what we’ve learned is whether you’re marketing to entrepreneurs and EO and YPO networks, or you’re marketing through traditional advertising or to private equity or venture capital, the way we attract international buyers is different than the way we attract domestic buyers.
And so when you’re selling a digital asset, the most important thing is the marketing putting together the right book, the right story and really maximizing the sales price. If you have questions on any of the things that we’ve talked about today or specifically, is it a good time to sell my digital business? Why don’t you give us a call at Freedom Factory? I look forward to speaking with you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Today’s episode of the podcast, Robert Hirsch from Freedom Factory talks about “Can I Sell My Business By Myself or do I Need Help?.”#business #entrepreneurship #startbusiness https://t.co/Pz2T2MYBm7
— Freedom Factory (@FreedomFactory7) April 13, 2020
Selling a business can be done on your own or by the help of a brokerage firm. There are pros and cons to selling a business by yourself and asking advice from experts like a brokerage firm. The majority of business owners who want to sell their business ask help from experts, especially in maximizing the value of the company. The selling process is a tedious one, and without the help of experts, you could end up in the losing end of the deal. Asking help from a brokerage firm specializing in selling businesses may sound a more practical and smarter choice. Visit Freedom Factory’s official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/can-i-sell-my-business-by-myself-or-do-i-need-help Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. What is The Myth of the Million Dollar Idea? https://youtu.be/4CeX0STdxos Caution: What is the Trap of the Working Wealthy? https://youtu.be/NarnoTQlJkg Key Difference Between Owning a Business and Owning a Job https://youtu.be/GefZay3j0Bc What is Entrepreneurial Freedom? https://youtu.be/ziY-Jgbj1Yc #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Today’s episode of the podcast, Robert Hirsch from freedom factory, talks about “Time to Find Freedom and Buy Your Own Business.”#business #entrepreneurship #startbusiness https://t.co/xti4zaVHbG
— Freedom Factory (@FreedomFactory7) April 10, 2020
Today’s episode of the podcast, Robert Hirsch from Freedom Factory talks about “Time to Find Freedom and Buy Your Own Business.”
Listen to the podcast, watch the video, or read the transcript below.
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Transcript of Podcast
Hey, it’s Robert from Freedom Factory, and I want to talk to you about something that is a really strong belief of mine, but I was in a forum meeting with my fellow group of entrepreneurs and one of my friends looked at me and he said, is buying a business really the most undervalued asset class? You’ve said that to me often, but I don’t know if I necessarily believe it. So I wanted to go through some simple math and the way I look at buying a business and the way I look at other investments. For example, if you buy a business for four times earnings, and let’s say you don’t make any changes, it’s flat, it doesn’t grow, whatever. Your changes don’t work. That’s going to give you a 25% return, meaning it’s going to pay for itself in four years because you bought it four times earnings.
Now, on the other hand, let’s say you go buy a stock. Let’s say that stock has a price to earnings ratio, which is really just a multiple of 33 well, you’re buying it at 3% so I mean, what you’re really hoping for is maybe 5% after taxes.
So when I look at what that looks like in three years or five years, and use any financial calculator that you want, and you look at the time value of money, those returns make such a massive difference. Warren Buffett’s business partner is a guy named Charlie Munger. And Charlie Munger, they asked him, they said, if you were a young man and you were starting again, and there was no Berkshire Hathaway, what would you do?
And he said, I would buy as many software of service companies as I could at five to seven times earnings, which is generally what they go for with low churn, meaning they don’t change. And I would change my whole time to forever. So once again, he would buy software as a service companies at five to seven times earnings. With very low churn and it would hold them forever. So he also sees that small businesses are the most undervalued asset class in America. So if you’ve ever thought about buying a business or how do you find a business that trades at three times earnings or four times earnings or five times earnings, why don’t you give us a call at Freedom Factory?
Because I’ll tell you, some of the deals that we see are just incredible. And I think money is made on the buy, not on the sell. And if you can buy the right business, especially want to take advantage of your unique abilities are stupid human trick. And I’ve talked about that in other videos, but what I mean, let’s say you find a great engineering company that has a sales problem and you’re an extraordinary salesperson. All of a sudden, if you buy that at 4x and you can double it in two years. Well, your return is unbelievable. So if you’ve ever thought about buying a business or selling a business, give us a call here at Freedom Factory. I look forward to talking to you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
Today’s episode of the podcast, Robert Hirsch from the freedom factory talks about “What is The Myth of the Million Dollar Idea?.” Listen to the podcast or watch the video here. #business #entrepreneurship #startbusiness https://t.co/EoMuzg1HTs
— Freedom Factory (@FreedomFactory7) April 8, 2020
Robert Hirsch from the freedom factory discusses “What is The Myth of the Million Dollar Idea?."
Listen to the podcast, watch the video, or read the transcript below.
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Transcript of Podcast
Hey, it’s Robert from Freedom Factory, and I want to talk to you about an entrepreneurial truth and what I call this is the myth of the million-dollar idea. The other day I was talking to a friend of mine and he was looking at our company and he said, man, I wish I had that idea. And I talked to him about the myth of the million-dollar idea.
And I said, that million dollar ideas don’t exist. And he didn’t understand what I meant. So then I asked him a question. I said, what’s the difference between a million-dollar idea and $1 million? And he thought about it for a second and he said, well, I don’t know. And I said, well, it’s a million-dollar execution.
And the good news is million-dollar execution is a learnable, teachable skill. Now, it doesn’t matter if you have a business brokerage like we do, or software companies or boat manufacturers or any of the types of companies that we’ve talked about in the past. The difference between that million-dollar idea and the million dollars is million-dollar execution. And I want you to think about that.
The great news is million-dollar execution. Is a learnable, teachable skill. All machines are the same. When we’re building a machine, there’s revenue, there’s sales, there’s marketing, there’s infrastructure. You figure out what you need to do and you work on your business, not in it, and it doesn’t really matter what kind of business it is. Now, if you learn how to build the machines, for example, let’s say you have a sales problem. If you go out and read a How to Win Friends and Influence People by Dale Carnegie, it’s going to help you with your sales no matter what kind of business you’re in, no matter how many businesses that you do.
So there’s a set amount of entrepreneurial lessons and it’s your choice. You can learn them fast or you can learn them slow. But I would figure out what your biggest strengths are and I would accentuate those and I’d figure out your biggest weaknesses and I would either hire to address those or I would work on acquiring the skills to be able to get a complete skill set there and be able to develop million-dollar execution, because once you have million dollar execution, you can change the world in so many ways. You can build a machine, any machine, and so I wouldn’t get lost on the idea of $1 million idea or the myth of the million-dollar idea.
People say all the time, they say, I wish I thought of the pet rock. Well, it wasn’t the pet rock. The person that started the pet rock understood million-dollar execution. And the good news is, so can you. If you have any questions about any of the things that we’ve talked about, why don’t you give us a call it Freedom Factory. I’m Robert and we’ll talk to you soon.
Thank you so much for watching. Please like and subscribe.
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
Also, Follow Freedom Factory here
Best Business Brokers - video portfolio
Available on Youtube:
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal