How to Plan for your Business Exit with Greg Boyer - YNBM Podcast скачать в хорошем качестве

How to Plan for your Business Exit with Greg Boyer - YNBM Podcast

How to Plan for Your Business Exit with Greg Boyer Have you been planning on exiting your business? This episode is for you. Greg Boyer joins me on the show today to share nuggets of wisdom about business exits. He is the founder of Boyer Business Advisory and author of “The Business Owner’s Guide to Living Happily Ever After.” Greg’s passion is helping people exit their businesses as best as possible. He has exited three businesses, and every exit came with lessons that he will share in this episode. Often, we hear of business owners who developed cold feet syndrome while going the process of selling their businesses. The big question is, what causes them to change their mind? According to Greg, selling a business is not something you decide overnight. You need to consider what you will do after selling the business. Also, it would be best to evaluate where your business is and how you can improve it to fetch better prices. Also, if you are exiting a company to hand into a family, you must have the conversation early enough to ensure you are on the same page. Today, Greg shares the process of exiting a business, the different business exit strategies, and how he exited three businesses. Are you ready to learn? Listen in. Key Talking Points of the Episode: [01:28] What does Greg do? [04:43] How to prepare for a business exit [10:09] Cold feet syndrome [11:33] The process of planning for a business exit [14:08] The three pillars of freedom and happiness [20:57] The discovery process [26:18] Preparing for lifestyle after a business exit [30:19] Greg’s first exit [33:48] Greg’s second exit [39:20] The third exit [41:43] External exit strategies [42:33] Internal exit strategies [46:50] Transitioning a business to family members [49:54] Why don’t people have business exit conversations? [56:24] The process of working with Greg Magical Quotes from the Episode: “If you know the destination, you understand and assess where they are today, there can be gaps.” “I deal with not just owners who sell businesses. I deal with owners who transfer their businesses to their family.” “A profit gap is a business that is earning under the industry standard of profits and percent of revenue.” “One of the reasons I got into this was when I heard that three quarters of owners regret the sale, because they didn’t calculate their finances properly.” “If the business relies heavily on you, then the value is not as good in business.” “It’s not a good time to make a big decision when you add a lot of lot of emotional pressure.” Connect with Greg Boyer: Website: https://boyerbusiness.com.au/ Visit Our Listings Page: http://tiny.cc/woe55 Visit Us: http://www.xcllusive.com.au (02) 9817 3331