Becoming an Exitpreneur with Joe Valley
In our newest episode, we talk to Joe Valley, a Certified Mergers and Acquisitions Professional. After facilitating nearly 1⁄2 billion in exits, Joe has written the bestselling book "The EXITpreneur's Playbook" to help online business owners get the maximum value and best deal structure when they seek an exit. Tune in for Joe’s insights, and don't forget to download three free chapters from his book, just for the Ecwid community: Chapter 11: Identify All Your Add-Backs Chapter 13: FBA Roll-ups, Yeah or Nay? Chapter 15: Structuring the Deal You can download the chapters in the Ecwid Blog: https://www.ecwid.com/blog/becoming-an-exitpreneur-with-joe-valley.html Some key insights of the podcast include: Getting the Basics Right to Build on Your Foundation Set a specific goal for your exit time and value. Getting the basics right starts with getting your books and accounting in order. Understanding a seller's discretionary revenue is the key to understanding the actual value of your business. The Peculiarities of Selling a Business C-Corporations are harder to sell because they involve an asset sale, not a stock sale. However, more than just assets will be involved in the contract. Post-sale, you’ll need to stick around and help with the transition. For most business owners, the most money is made at the exit. Becoming an Exitpreneur Learning to look at your business as a short-term project can help you build something great. Shifting your mindset from being an entrepreneur to an Exitpreneur, can be exhilarating, but difficult for some people. What Revenue Levels Are Buyers Looking for Today? The four things buyers look at while deciding on a deal are: Risk, Growth, Transferability, and Documentation. High total discretionary earning is the goal. Two-year-old businesses with six-figure discretionary earnings are ideal. Sell on growth years. Ecwid Podcast on Ecwid https://www.ecwid.com/blog/podcast Ecwid Social Social Profiles: Facebook: https://www.facebook.com/ecwid Instagram: https://www.instagram.com/ecwid/ Youtube: https://www.youtube.com/user/EcwidTeam Twitter: https://twitter.com/ecwid Pinterest: https://www.pinterest.com/ecwid/ Jesse Ness Social Profiles: LinkedIn: https://www.linkedin.com/in/jesseness/ Richard “RichE” Otey Social Profiles: LinkedIn: https://www.linkedin.com/in/richardotey/ Twitter: https://twitter.com/RichardOtey