Description

About Mac Lackey: Mac Lackey is an American entrepreneur who has started, scaled, and sold six companies (all seven or eight-figure exits). Mac and his companies have been featured on CNN, The Wall Street Journal, Fast Company, Business North Carolina, USA Today, and The New York Times. Notable ventures include: KYCK (acquired by NBC Sports), Mountain Khakis (acquired by Remington), and Internet Soccer Network (acquired by a division of News Corp/Sky). He additionally served as a member of the Board of Directors for Lending Tree (NASDAQ: TREE) for over five years and is currently an angel investor in over 50 companies. Mac is also the owner of the Spanish soccer team Algeciras Club de Fútbol.

In this episode, Ryan and Mac Lackey discuss:

• Optimizing business for maximum exit value
• Finding the right buyer and exploring strategic options for business exit
• A comprehensive approach to strategic planning and preparation for business exit
• Understanding the business exit journey - timelines, pitfalls, and key considerations

Key Takeaways:

• Entrepreneurs should proactively design their businesses for strategic value, focusing beyond financial metrics, to attract the best buyers and maximize exit opportunities.
• By embracing critical shifts, such as delegating tasks and thinking creatively about potential buyers, entrepreneurs can enhance their business value, ensuring a more successful and lucrative exit in the future.
• Proper preparation and strategic value assessment are essential for a successful business exit; owners must actively participate in the process to maximize their financial gains and ensure a smooth transition.
• Entrepreneurs should prioritize guaranteed cash in the deal, as it's the most crucial aspect of the transaction, and they should actively participate in the exit process rather than outsourcing it entirely to maximize their success.

"And the reality is you should never sell a business based on a financial metric. The real driver of exit value is always strategic. And what we have to understand is that we have created something great in our business products or services or a loyal customer base. Those are the things that really create value." — Mac Lackey

Connect with Mac Lackey:  

Website: https://exitdna.com

LinkedIn: https://www.linkedin.com/in/maclackey/

Facebook: https://www.facebook.com/lackey.mac

Schedule your free 1:1 Profit Breakthrough Session with Ryan here: https://go.oncehub.com/profit

Connect with Ryan Kimler: 

Net Profit CFO Home Page:www.netprofitcfo.com

Email: ryan@netprofitcfo.com

Facebook:www.facebook.com/rkimler

LinkedIn:www.linkedin.com/in/ryankfinancialclarityllc/

LinkedIn NPC Company:https://www.linkedin.com/company/netprofitcfo/

LinkedIn FC Company:https://www.linkedin.com/company/financial-clarity-llc/

Show notes by Podcastologist Andy Santiago

Audio production byTurnkey Podcast Productions. You're the expert. Your podcast will prove it.