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The Sell My Business Podcast
We discuss all things business and strategy when it comes to selling or exiting your business. Packed with helpful insights, tips and interviews from the people that have actually done it.
3 days ago
Doris Valade On How To Create A Successful Exit
Doris Valade On How To Create A Successful Exit "As entrepreneurs we don't see risks, we see opportunities." - Doris Valade Doris Valade is a high performing operations-management business professional. Doris sold her business, Malabar Super Spice Company, in 2018. Malabar Super Spice is a company that Doris built from the ground up. With almost four decades of experience, Doris now helps companies maximize business results. SHOW NOTES * The importance of finding and solving a business problem * Why no customer is too small * The power of performing every role in your company before hiring employees * Why you must review your pricing on a regular basis * The down side of growing too fast * How resilience trumps resources * How Doris went from zero to hero by specializing * The importance of having a long-term plan for you and your business * Why it's important to know what you're not good at and to hire a specialist to take over that role * How Doris' company prospered when she fired herself in the roles of HR and marketing and hired people * The importance of a business coach * How Doris made more money on her exit by getting several quotes before hiring advisors * The important lesson Doris learned on how she was not the priority for her advisors * The on key thing Doris did to protect herself from her advisors and to look after her needs * Do not assume your advisors know more than you, especially when it comes to your company * Why Doris never viewed her business as a child and the important in this mindset * How having several buyers to choose from made all the difference for Doris * The importance of learning every detail in the agreement to buy your company * Lessons learned for Doris that benefits you of what not to do in your exit * Why it's important to put a time limit on how long you'll stay in your company after you sell * How Doris put things in perspective about challenges after a trip to Kenya This podcast is brought to you by Deep Wealth. Are you thinking about selling your business? You have once chance to get it right and you better make it count. Learn how the Deep Wealth experience helps maximize company value before you sell. Master the same exit strategies we used to increase our company value 10X with our 9-figure exit. Enjoy the interview! SELECTED LINKS FOR THIS EPISODE Connect with Doris Valade PEO Leadership The Deep Wealth Experience
Jun 30, 2020
Dr. Michael Varenbut On How You Can Survive, Pivot, And Change (#011)
Dr. Michael Varenbut On How You Can Survive, Pivot, And Change "We survived, pivoted, and changed." - Dr. Michael Varenbut Dr. Michael Varenbut, is a physician and an entrepreneur experienced in building world-class healthcare companies and organizations with a strong social purpose. Michael endeavors to combined his knowledge of healthcare with his business acumen to create healthcare companies that benefit all stakeholders. SHOW NOTES * How health-care is transforming from in-person to virtual * What you can expect as a patient in the new normal * Herd immunity versus physical distancing strategies and which one will prevail * How to set your expectations on a COVID-19 vaccine * The realities of mass vaccinations * The time frame for a possible COVID-19 vaccine * How viruses work * Immunity to COVID-19 as either fact or fiction * What business owners must think about to pivot and profit * Dispelling the myths around Doctors' incomes * How the health care system has changed and continues to change * Health care reimbursements in the new economy and what this means for patients * Michael's book talking about the business of health care for Doctors * What you can expect from Doctors' offices in the new economy * What you can do to keep you and your staff healthy * How office space and layouts will change as a result of the COVID-19 pandemic * Basic procedures that are moving from the Doctor's office to the patient's home * Questions every business owner must ask to prepare for future pandemics * How this pandemic is like a live experiment for survival of the fittest with businesses * The opportunity for healthcare businesses to lead the change for all businesses * How you can survive, pivot, and change This podcast is brought to you by Deep Wealth. Are you thinking about selling your business? You have once chance to get it right and you better make it count. Learn how the Deep Wealth experience helps maximize company value before you sell. Master the same exit strategies we used to increase our company value 10X with our 9-figure exit. Enjoy the interview! SELECTED LINKS FOR THIS EPISODE Connect with Dr. Michael Varenbut Michael's Book: The Myth Of The Rich Canadian Doctor Cloud DX The Deep Wealth Experience The free Deep Wealth Exit eBook
Jun 23, 2020
Klaus Meyer On How To Position Your Business For Success In The New Economy (#010)
Klaus Meyer On Strategies That Help You Win During A Pandemic "Calling on entrepreneurs, society needs you" - Klaus Meyer Klaus Meyer is a professor of international business at the Ivy business school at the University of Western Ontario. He joined in 2017 after six years at the China Europe international business school in Shanghai. Dr. Meyer is a leading scholar in the field of international business, especially with foreign entry strategies in emerging economies. He's published over 70 articles in leading scholarly journals. SHOW NOTES * The power of developing a short-run and long-run strategy as a result of the pandemic * Understanding the industry you're in and recovery time lines * Ask yourself how your business and customers will be different in the new economy * Strategic agility is key for success * Successful companies coming out of the pandemic show agility * Why businesses, even large ones, must act with an entrepreneurial spirit * The disruption of the global supply chain and what this means for your business * Applying risk management to your supply chain * Why you must leverage new technology for the new economy * Ask yourself how can you use automation in your business * Look the past to lock-in your future * Asian businesses dealt with SARS and are now positioned better to deal with COVID-19 * Examples of changes in industries and the short-term and long-term impact * Asia is leading the way in providing convenience to customers through online services * Successful businesses must integrate online services into their offerings * How your company can compete against Amazon and Uber by embracing local services * Why businesses must make online services truly online and not an add-on * How robots are changing businesses globally and what you can do in your business * What to look for in changing consumer attitudes so you can pivot to profit * The power of subscription services, especially when incorporating local services * Opportunities in health care sectors * Looking to Asia as an example of incorporating robots and online technology * The importance of entrepreneurs to open up the new economy This podcast is brought to you by Deep Wealth. Are you thinking about selling your business? You have once chance to get it right and you better make it count. Learn how the Deep Wealth experience helps maximize company value before you sell. Master the same exit strategies we used to increase our company value 10X with our 9-figure exit. Enjoy the interview! SELECTED LINKS FOR THIS EPISODE Connect with Klaus Meyers Klaus Meyer's Personal Website Klaus Meyer's Publications The Deep Wealth Experience The free Deep Wealth Exit eBook
Jun 16, 2020
Don Gleason On Strategies That Help You Win During A Pandemic (#009)
Don Gleason On Strategies That Help You Win During A Pandemic "Challenging times are a golden opportunity for a reinvention of your business. " - Don Gleason Don Gleason has an extensive background in strategic planning, sales management, marketing, and the customer experience. As a consultant for two decades, Don helps businesses launch, turn around, or achieve exponential growth. As a hands-on executive, Don leads companies through a critical path that focuses on launching products, improving cash through high accountability metrics and the disciplines of execution. SHOW NOTES * How to reduce your burn rate * Insights into government help programs * Challenging times are times for reinvention of your business * How subtle changes make all the difference * How to leverage front-line staff to make changes * Disney saved $3M by talking to their front-line staff * Pivoting your business can be as simple as changing your strategy * Ask yourself what part of your business can go virtual * Why content is king, especially during a pandemic * Look for products or services your business offers that can go virtual * As an example, a restaurant can sell online cooking courses for its best dishes * Why $19.95 is the magic price point for add-on services * Business owners must find the pain point customers are feeling and provide solutions * Steps companies must put in place for today and the future * Setup work procedures for employees to work from home * Train employees how to work with clients in the virtual environment * Communicate through email, websites, and podcasts * Sell off old or excess inventory at a deep discount * Develop a leadership success plan * How Don helped one client generate $48,000 of found cash by selling off old inventory * Find out how your company compares to industry averages. If your company is performing below, you're leaving money on the table * Create cash reserves through selling off old inventory * Find and cut unnecessary expenses. These savings go into your cash reserve * Write out your ideal customer and focus on keeping your existing customers * The power of finding out how long it takes your business to go from order to payment * Identify business "leaks" such as not collecting account receivables * One hidden expense are employees who don't start on time from lack of preparation * An example of a construction company wasting $265,000 from workers not starting on time at the job site * Leaders must work on their business and not get caught up by working in the business * Identify your key metrics and share with the entire company * What gets measure is what gets done * Treat your employees the same way you treat your clients This podcast is brought to you by Deep Wealth. Are you thinking about selling your business? You have once chance to get it right and you better make it count. Learn how the Deep Wealth experience helps maximize company value before you sell. Master the same exit strategies we used to increase our company value 10X with our 9-figure exit. Enjoy the interview! Listen to the episode on Apple Podcasts, Spotify, Overcast, Stitcher, Castbox, Google Podcasts, or on your favorite podcast platform. [[[ADD LINKS]]] SELECTED LINKS FOR THIS EPISODE Connect with Don Gleason Ted Ladd article The Deep Wealth Experience The free Deep Wealth Exit eBook
Jun 9, 2020
Doris Valade On How To Survive And Thrive During A Pandemic (#008)
Doris Valade on Leadership In Challenging Times, COVID-19, and Finding Opportunity "One of the strengths of entrepreneurs is that we don't see risks" - Doris Valade Doris Valade is a high performing operations-management business professional. Doris sold her business, Malabar Super Spice Company, in 2017. Malabar Super Spice is a company that Doris built from the ground up. With almost four decades of experience, Doris now helps companies maximize business results. SHOW NOTES * Why a pandemic brings opportunities, not challenges, to businesses * How communication is the key to success during a pandemic * The power of communication with employees, customers, and vendors * How to work with vendors during a pandemic * Leveraging the downtime from a pandemic to rethink your business * How to look at your business for cost savings * The importance of mentors for business leaders * The power of connecting with other business leaders through PEO * How Doris puts things in perspective as a result of her trip to Kenya * What business leaders can be doing to help others, even if it's outside the scope of their business * The importance of an emergency fund * How to create an emergency fund with the help of your employees * The importance of learning how to pivot during a pandemic * Leverage technology for communications during a pandemic * Doris' grassroots approach to increasing sales and reducing costs during challenging times * How you can empower your employees to help the business save money * A powerful strategy Doris used to reduce transportation costs by 45% in her business * The power and need to train employees during challenging times This podcast is brought to you by Deep Wealth. Are you thinking about selling your business? You have once chance to get it right and you better make it count. Learn how the Deep Wealth experience helps maximize company value before you sell. Master the same exit strategies we used to increase our company value 10X with our 9-figure exit. Enjoy the interview!
Jun 2, 2020
Michael Kalles On Communicating Your Way To Success During A Pandemic (#007)
Michael Kalles is the president of Harvey Kalles Real Estate Brokerage. Michael's vision and leadership are a large part of the continued success of the company. For three decades, Michael has built the company from $147 million in gross sales to almost $2.5. One of Michael's core values is giving back to the community. Kalles Real Estate supports over 250 charitable organizations.
May 27, 2020
Steve Kohler On Leading With Resilience During A Pandemic (#006)
Steve Kohler Steve is president of Ridge Global and has served in a number of roles for its affiliates including as Chief Innovation Officer for Ridge Global and Risk Cooperative and prior to that as Chief Executive Officer for Ridge Global Solutions and as a principal advisor for the strategic consulting practice. He previously served as president of Space Florida, a statewide Special District focused on economic development within the Florida aerospace economic sector.
May 20, 2020
Ed LeMasters On Managing Your Money During Challenging Times (#005)
Ed LeMasters has almost four decades of experience as a Wealth Advisor. Ed manages over $500 million on behalf of his clients. With a focus on business owners, Ed manages their money while they grow their business and after the sale. Ed's focus is building a bulletproof portfolio for his clients.
May 13, 2020
Waleuska Lazo On How Gratitude Unleashes Your Health And Success (#004)
Waleuska is one of the original founders of the eLearning company Embanet.
May 6, 2020
Chris Yates On Pivoting And Profiting During A Pandemic (#003)
Chris Yates On Pivoting And Profiting During A Pandemic "I surround myself with others who have already started to take that leap or who are already a few steps ahead" - Chris Yates Chris Yates Chris Yates is Founder of Rhodium Weekend and Partner in Centurica. Rhodium Weekend is a community of 6 to 8 figure digital business owners and investors. Chris has over a decade of experience acquiring and operating digital businesses. Chris has overseen $150 Million in acquisitions of eCommerce, Content, and SaaS businesses. Centurica specializes in helping entrepreneurs, companies and private equity firms buy online businesses. SHOW NOTES * The power of building a network around you * The importance of transforming a website into a lead machine through content * How Chris solves problems by having the right community of people around him * Why you need to be in a mastermind group * Chris' first principles of business: adapt and always learn * Why it's critical to diversity revenue and traffic to create a busienss of value * Chris' approach to generating leads through digital marketing * Generating leads through paid advertising and organic networks * The power of peer groups * The importance of working with the trend and not against it * Ask yourself the question, "what the opportunity in this situation?" * The value of customer and business relationships * Chris' challenge with his upcoming in-person Rhodium Weekend in light of the coronavirus * Dissecting elements of an in-person invent and transferring what you can to virtual * First principles of both an in-person and virtual event * How Chris leverages the power of word-of-mouth marketing * Chris found a way to monetize his passion for connecting people * The secrets of being a great operator for events * What to look for in opportunities as an investor * Why business owners must disrupt their businesses * Thrive in business when you do what's hard for big companies to replicate * The strategies Chris deployed to avoid the pandemic from putting him out of business * How Chris looks at what's ahead in the new economy * The importance of building trust with your community and customers * Chris' approach to buying and selling businesses and creating a business he keeps * How Rhodium Weekend channels Chris' passion while helping business owners solve their problems * The power of scarcity and small groups to create a thriving community * Chris' 7-year rule that puts people first every day * The world needs leaders to get it through the pandemic * The power of stepping into the identity of a leader and not holding back This podcast is brought to you by Deep Wealth. Are you a business owner who is wondering how to grow your business, sell it, or both? Perhaps you're wondering how to make your business pandemic-proof? Learn how the strategies to grow and extract the deep wealth from your business. Enjoy the interview! SELECTED LINKS FOR THIS EPISODE Connect with Chris Yates Rhodium Weekend The Deep Wealth Experience The free Deep Wealth Exit eBook
Apr 29, 2020
Leon Goren on Leading To Win During A Pandemic (#002)
"Leaders make a difference to somebody every day" - Leon Goren Leon Goren believes in purposeful leadership. Challenge the status quo, anticipate the future and help those around you excel. With 25 years of experience, Leon understands the needs and challenges of leaders. Leon has worked with over 1,000 Fortune 500 and SME Clients. As the owner of PEO Leadership, Leon builds communities of knowledge and leaders. Leon focuses on 5 key elements of success: * Business * Health * Wealth * Career * Family Relationships. Success for Leon is both enjoyed and achieved when these 5 key elements work in harmony. SHOW NOTES * Why leaders must provide hope through effective communication * The importance of a 12 month cash flow during a pandemic * The power of thinking about 60 to 90 days from where we are now during the pandemic * One question every business owner must ask: What's our world going to look like in 90 days? * People, and especially business owners, must f…
Apr 22, 2020
Introducing The Sell My Business Podcast (#001)
"Unlock your destiny and success when you know how to pivot and profit." - Jeffrey Feldberg and Steve Wells Jeffrey Feldberg and Steve Wells are successful entrepreneurs. Feldberg and Wells enjoyed a 9-figure exit from their eLearning company Embanet. The journey had Feldberg and Wells increase the value of their company 10X in two years. The Embanet story almost didn't happen. The first offer Feldberg and Wells received was 7-figures based on 3-times EBITDA. How did Feldberg and Wells go from a 7-figure offer to a 9-figure offer from a different buyer? The Sell Your Business Podcast, and their company Deep Wealth, focuses on helping you grow your company, sell your company, or both. The days of smart and sophisticated buyers ripping off business owners are over. Starting N.O.W. SHOW NOTES * The story behind the story of starting The Sell Your Business Podcast and Deep Wealth * Learning how not to survive, but to thrive in challenging times * Why you must master the art and s…