How This Entrepreneur Sold His Home-based Business for Millions | Ep. 38

Selling a business is no small feat, and it requires astute planning, risk-taking, and timely decisions. Thomas Perkins, a seasoned entrepreneur, recently shared his wisdom on the "Before You Buy or Sell a Business" podcast. His journey from being a self-employed barber to a successful business owner of a company grossing $3.5 million annually carries valuable lessons for anyone considering embarking on this path.In this podcast episode, I talk with Thomas about the highs and lows he faced, from managing finances and credit lines to navigating the complexities of selling a business. Discover invaluable advice for both buyers and sellers, including the significance of long-term financial planning and the importance of ensuring a smooth transition for business continuity. If you're exploring the world of business acquisitions, Perkins' story offers critical insights and practical tips.______________________________________________________________________If you have questions for Jared, visit JaredWJohnson.com______________________________________________________________________CHAPTERS0:00 | Introduction1:49 | From Barber to Business Owner: A Journey of Self-Discovery8:36 | The Freedom and Challenges of Self-Employment in Sales9:30 | Overcoming Financial Challenges to Build a Successful Business13:11 | Becoming the Go-To Vendor for Property Management Needs26:06 | Ensuring Smooth Business Transition Through Early Collaboration and Financial Support35:37 | Self-Motivation and Finding Purpose Through Projects38:28 | The Importance of Ethical Business Handoffs______________________________________________________________________DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.