Building a business and building a business that's attractive to future buyers are two different things - but they don't have to be. Today's guest, Mark Herrmann, walks us through the process of finding and retaining a quality business broker who can help you prepare for the transition out of business ownership. He tackles the mistakes and misconceptions that many entrepreneurs make when trying to sell their businesses. We all wish selling a business was a quick and easy process, but with the right preparation and the best professional assistance, success could be just around the corner.
Show highlights include:
3:00 The journey into business ownership
6:00 Building and selling the first business
10:25 The transition into a new business
12:30 What does a business broker do?
13:55 The process of valuing a business
18:10 What has the most effect on the value of a business?
19:30 The timeline of a sale
20:45 The value of a broker vs. selling on your own
24:55 How does a broker get paid?
28:35 How to make your business more valuable in advance
31:00 What is the process for selling a business?
33:34 Finding a good fit to buy your business
37:00 Can the seller and buyer meet?
42:40 Preparing for the transition after selling
49:25 What's coming up next and how to get in touch
You can learn more about Mark at http://www.carolinaadvisory.com.
Social media:
LinkedIn- https://www.linkedin.com/in/markherrmann92/
Or hit us up through our Contact Page at https://buildernuggets.com and we'll make a personal introduction.
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