Many business owners have no idea what the value of their business is. And when the time comes to sell their business, they base its price on how much they need to fund the next phase of their lives and not on what it’s worth.
Having your business evaluated regularly is just one of the vital components of a successful exit strategy. Because to map out the path to exiting rich, you need to visualize your destination, determine where your starting point is, and begin with the end in mind.
In this bonus episode of Your Business, Your Life, join Matt DiFrancesco and Michelle Seiler Tucker, Founder, and CEO of Seiler Tucker Inc. and best-selling author of Exit Rich, as they discuss why 80% of businesses never sell, how business owners can fix their businesses and sell it for maximum value, and why planning for an exit strategy is beneficial to everyone who owns a business.
Michelle talks about:
(06:25) Why most businesses fail to sell
(08:04) How the GPS model works
(10:36) Why NOT having an annual valuation checkup is financial suicide.
(12:57) The 5 types of buyers
(18:14) Why you should go to an M&A expert for your annual valuation checkup
(22:10) Why you should always be building your business to sell, even if you don’t plan on selling it
(27:45) Why do we have to treat our business as our most valuable asset?
(28:32) The value of having a mentor
Connect with Michelle Seiler Tucker
Website: https://seilertucker.com/
Book: https://exitrichbook.com/
rab an audiobook copy of Exit Rich for only $2.99 and get all the supplements with the book plus a lifetime membership to the Exit Rich Book Club. This offer is only available for the month of May! To know more, go to the links below:
Connect With Matt DiFrancesco:
matt@highliftfin.com
(814)201-5855
LinkedIn: Matt DiFrancesco
LinkedIn: High Lift Financial
Facebook: High Lift Financial
About Our Guest:
Michelle Seiler Tucker MAMI, CSBA, CMAP, CBB is the leading authority on buying, selling, and improving businesses and increasing a business’ revenue streams. She has personally sold over 500 businesses, and her company, Seiler Tucker Inc., has sold over 1,000. Michelle has been helping hundreds of business owners build scalable and sellable businesses for more than twenty years.
Michelle is also the best-selling author of the book “Think & Grow Rich Today”, and “Sell Your Business For More Than Its Worth”, and her latest book “Exit Rich” is available now for purchase. In addition to being featured in INC., Forbes, and USA Magazine, Michelle makes regular radio and TV appearances on Fox Business News and CNBC