Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today's episode, they are joined by the experts to dive deep into small business solutions and some of the most relevant issues business owners are facing nowadays.
Devin Miller, from Miller IP Law, is sharing about his own business and how he decided to disrupt the IP Law arena. Tracey Bissett, from Bissett Financial Fitness, is talking about books and records, which is the number one trending topic in regards to business success. Mark Tremblay, from Transworld's office, located in Boston, is sharing his knowledge about labor at a small business, which can be the biggest headache for business owners.
Listing of the week: Justin Lefebure (Central Florida) is selling a roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA. Call Justin at (772) 925-2675 or email jlefebure@tworld.com.
Key takeaways:
[3:42] Devin Miller, from Miller IP Law.
[4:00] Devin shares tips for small business owners about IP (Intellectual Property).
[6:28] Devin explains the possible consequences of not paying attention to copyrights and trademarks.
[9:00] Devin speaks about the difference between copyrights and trademarks.
[10:28] How does Miller IP Law help people?
[13:47] Deal of the week: Aaron Fox (North Boston) sold a daycare after solving many challenges imposed by the strike of COVID-19. Sold at 2.1 multiple of the SDE, with a total price of $1 million.
[19:20] Tracey Bissett, from Bissett Financial Fitness.
[20:37] What are the biggest mistakes entrepreneurs make when it comes to their finances?
[21:44] If you have delegated all your financial information and decisions, what is the first step to start getting involved?
[22:44] Tracey explains how to really start making money in your business.
[25:46] Can you articulate the big numbers in your business?
[26:34] Tracey talks about what really matters in a financial statement.
[29:54] Tracey shares the areas in which entrepreneurs tend to excel.
[32:18] What do business entrepreneurs need to be accountable for when it comes to their finances?
[34:20] EBITDA cannot be a true reflection of a business.
[36:00] Tracey gives advice to all business owners that want to start to straighten up their finances.
[38:19] Listing of the week: Justin Lefebure (Central Florida). Roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA.
[41:22] Mark Tremblay (Boston) talks about his previous business and how he overcame the issue of labor.
[44:16] How to assure you are giving remarkable service.
[45:36] Mark recommends young people to get into a small business.
Mentioned in this Episode:
The Deal Board Podcast
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Call Aaron Fox at (781) 773-8922 or email afox@tworld.com
Call Justin Lefebure at (772) 925-2675 or email jlefebure@tworld.com
Call Mark Tremblay at (617) 299-9796
Miller IP Law
Fee Strategy Meeting
Meet Devin Miller
Bissett Financial Fitness
Money Meeting Agenda
Tracey Bissett on Linkedin
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