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Part 2 - Should I Sell My Business?
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Are you stuck at the crossroads, contemplating whether to keep or sell your business? Well, we, Raya and Trae are here to guide you through the fog of uncertainty. As entrepreneurs who have built and sold a seven-figure business, we've tasted both the highs and lows of this rollercoaster ride. Hop on with us, as we delve into the nuts and bolts of selling a business - why, when, and how!
Building a business is an ardous journey, but deciding to sell it can be even more complex. It’s not just about the financials, it’s also about the people, the systems, and a whole lot more. We spill the beans on the importance of having a solid team, robust systems, and streamlined processes. We open up about our journeys, stressing the need for a consistent profitability track record and a healthy assets-to-liabilities ratio. We also champion the cause of having a proficient accountant who can navigate the financial labyrinth of your business.
To sell or not to sell isn't the only question. Who to sell to and how to manage the process can be equally daunting. We navigate the murky waters of dealing with brokers, the nuances of owner financing, and finesse involved in negotiating fees. With real-life anecdotes and hard-learned lessons, we provide insights on maintaining confidentiality, managing broker fees, and identifying the right buyer. Join us as we unwrap these complex layers, making your decision-making process a little more informed and a lot less overwhelming. So, entrepreneurs, buckle up for a richly informative ride!
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Chapters
1. Part 2 - Should I Sell My Business? (00:00:00)
2. Selling a Business (00:00:02)
3. Strategies for Selling a Business (00:09:32)
4. Selling a Business With a Broker (00:18:50)
5. Owner Financing and Negotiating Fees (00:25:05)
10 episodes
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