How to Build a Business You Can Sell with Michelle Seiler Tucker - Part 2

Hey everyone, Ben here. Mark is out today, but I have an excellent guest to talk with.Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She holds the M&AMI (Mergers & Acquisitions Master Intermediary) title, as well as Certified Mergers and Acquisitions Professional (CM&AP) and Certified Senior Business Analyst (CSBA). Michelle also owns many other businesses in several different industries. As a 20-year veteran in the M&A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses. Her and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success.Main Topic NotesCan you tell us a little bit about your background?If someone is starting a business right now, today, how should they structure it to be sellable?What are the 6 Ps?How can you build a business that is sellable?What are some tips to get the best valuation for your business?Recap / TakeawaysTake the time to figure out your destinationFigure out where you are nowGet an annual valuation checkup from an M&A expertIdentify who your buyers are (need to have more than one)6 P's (foundation of business you can sell)People (the right people in the right places)Product (always innovate and market your product) Processes (what do you want your clients to experience? (3 things) Proprietary (brandingTM, databases, celebrity endorsements, patents, digital positioning, content) Patrons (80% of revenue comes from 20% of clients) Profits (a symptom of a problem) Connect with Michellehttps://seilertucker.comhttps://exitrichbook.comEmail: [email protected] with UsGo to TheFridayHabit.com to find show notes for this episode. There you can also find links to our websites and ways to get in touch. At the bottom of the page you can download our guide to the Friday Habit system that will show you how to set aside one full day each week dedicated to working on your business instead of in your business.If you enjoyed this episode please subscribe and leave us a review in the Apple podcasts app.If you have a question or a topic you’d like us to cover don’t forget to record us a quick voice memo and send it to [email protected] for listening to The Friday Habit.Until next time. Live every day like it’s Friday.