In this episode, host Matt welcomes Cam Bishop from Raincatcher.com for the second part of the mini-series, "Selling Smart: How Trade-Based Businesses Can Build and Sell a Profitable Business." If you missed the first part, make sure to check it out for insights into the five critical mistakes that can ruin your business sale.
⏱️ Timestamps:
00:00 "Life After Selling a Business"
05:06 Skiing Without Purpose: A Job?
09:14 "Criteria for Family Business Success"
12:27 "Rethinking Business Strategies"
15:20 When to Sell Your Business
18:02 "Determining the Right Time to Sell"
23:20 Navigating Business Exit Conversations
26:59 "Choosing Buyer Beyond Highest Bid"
31:22 Buy-Sell Agreement Importance
34:24 Generational Business Strategy Success
36:06 Strategic Business Sale Timing
39:03 Send Questions for Future Answers
Takeaways:
- Why the perfect time to sell is often personal, not just financial
- Essential steps to prepare your business years before you exit
- How legacy, employee loyalty, and family complicate the sale
Cam also shares stories about legacy, succession planning, and the emotional realities owners face after the sale, offering practical advice on how to approach exit planning proactively—rather than reactively—and avoid common pitfalls. Whether you're thinking about selling now or ten years down the road, this episode is packed with valuable perspective and actionable steps to help you plan for a successful and meaningful business transition.
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