In this episode of The Site Shed podcast, host Matt Jones delves deep into the world of business acquisitions and selling a trade-based business. Joined by expert guest James Nathan, they explore key topics that every business owner should consider when navigating the acquisition process. From scepticism about 10x returns to mitigating risks and increasing the value of a business, this episode provides valuable insights and strategies for those looking to sell their trade-based business. Discover the secrets of successful mergers, the importance of planning and preparation, and the crucial elements that contribute to a smooth business transition. Tune in now to gain the knowledge and blueprint necessary for a successful business sale. Don't miss out on this episode packed with valuable advice and actionable tips.
Watch the video version of this podcast at https://youtu.be/196Rnn_XCSc
Discussion Points:
00:03 - Setting up a business for sale challenges.
00:04 - Starting a business is hard; succession planning is difficult.
00:09 - Simplifying business selling process: neatening, accounting, financials.
00:12 - Over-systemising can be unnecessary and ineffective.
00:17 - Focus on valuable processes for business growth.
00:18 - Embedding processes into workflow for new clients/employees.
00:22 - Complexity of business valuation
00:25 - Increase earnings, reduce costs, improve tax structure.
00:31 - Building, selling to trade buyers boosts value.
00:34 - Merging companies is harder than it seems.
00:38 - Red flag: customer concentration, deferred payment.
00:42 - Important factors for selling a profitable business.
00:48 - Evolving business fundamentals; aligning expectations for success.
00:52 - Get 30 Guaranteed Leads in 90 Days!
Resources:
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