169: Exit Rich - How to Sell Your Business for Huge Profit

Seiler Tucker’s twofold approach to selling your business for maximum profit combines two of the most powerful elements of her mergers and acquisitions toolkit: the “ST GPS Exit Model ™” to help business owners set goals for the sale before their business hit the market, and the “Six Ps Method ™” to help them objectively evaluate their business’s worth, before their potential buyers do. Combined, these tools provide invaluable insight into the process of preparing a business for sale, finding the right buyers, and staging the sale itself. In Exit Rich, author and authority on buying, selling, fixing, and growing businesses, M&A advisor Michelle Seiler Tucker joins forces with Sharon Lechter, finance expert and co-author of Rich Dad Poor Dad, to create a must-have guide for all business owners—whether they’re gearing up to sell a business now or just getting started building out their company into something to sell for a profit in the future. Throughout the book, Sharon Lechter’s wisdom anchors each chapter with a “Mentoring Corner” section providing forward-thinking entrepreneurs with the perspective they need to take control of their business’ futures and exit rich. Seiler Tucker’s brilliant twofold approach to selling your business for maximum profit combines two of the most powerful elements of her M&A toolkit: the “ST GPS Exit Model™” and Seiler Tucker’s “6 P Method™.” Combined, these tools provide invaluable insight into the process of preparing a business for sale, finding the right buyers, and staging the sale itself. Michelle’s exclusive techniques have proven successful in many industries and across multiple business platforms. In Exit Rich, you will get a step-by-step blueprint for maximizing your business profits, as you learn how to evaluate your business, when to sell it, and how to work with the top business authorities to make that happen. Listen to ILAB 169 on iTunes here or subscribe on your favorite podcast app.   Where we are: Johnny FD – Sri Lanka / IG @johnnyfdk Sam Marks – Thailand / IG @imsammarks Derek Spartz - Los Angeles / IG @DerekRadio   Sponsor: IndeedGet a free $75 credit to boost your job post and get quality candidates even faster when you go to Indeed.com/ILAB Support Invest Like a Boss: Join our Patreon   Discussed: Exit Rich Book   Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) Betterment – Get up to 1 year managed free Wealthfront – Get your first $15,000 managed free PeerStreet – Get a 1% yield bump on your first loan *Johnny and Sam use all of the above services personally.   Time Stamps: 12:22 – When should you prepare to sell your business? 14:13 – How do you determine a fair value for your business? 17:25 – Why do you think a lot of businesses don’t sell? 18:18 – Can you explain your “GPS Exit Model”? 24:48 – What are “the 6 P’s” ? 41:01 – What do most people overlook when selling their business? 43:45 – What can slow down or stop a sale of a business? 45:46 – Is it easier to sell a 2-Mil business than a 100-Mil Business? 47:47 – What are some of the fees involved when selling a business? 50:44 – What makes this book different from your other two books? 54:41 – Why should people buy the book?  57:28 – Johnny and Derek review If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!  Copyright 2021. All rights reserved. Read our disclaimer here.