The Art of Buying and Selling Businesses: Strategies for Success
Welcome to Episode 22 of Sterling Insights: Sterling Insights: Stand Out & Supercharge Your Assets, hosted by Roger Silk. In this episode, Roger sits down with Richard Parker and discusses Richard’s successful program on buying and selling businesses.
Richard Parker has spent over 30 years helping people turn their dream of business ownership into reality. His renowned program, How To Buy A Good Business At A Great Price, has sold over 100,000 copies across more than 80 countries.
Richard was also a partner with Ray Dalio and the Dalio family office for four years, where he led an investment firm specifically designed for him to mentor one of Ray’s sons in the art of acquiring businesses.
Over the years, Richard has personally acquired 13 companies—plus a co-investment—with purchase prices ranging from $50,000 to over $200 million. His insights have been featured in Forbes, The New York Times, TheStreet.com, Entrepreneur Magazine, Inc., and more, with over 200 published articles to his name.
Here are some highlights from the episode:
· Richard stresses the value of early preparation when planning to sell a business—resolving operational issues and streamlining processes in advance. Doing so not only boosts the business's appeal to buyers but also increases the chances of a successful sale.
· Richard advises business owners not to drain too much cash from their business but to reinvest in strong marketing and quality talent. Strategic investments like these can significantly boost the business’s value when it’s time to sell.
· Richard encourages anyone curious about business ownership to explore the opportunity. He emphasizes that entrepreneurship is within reach for most people and recommends learning what it truly involves before making a decision.
Connect with Richard:
YouTube: https://www.youtube.com/@richardparkerdiomo
Facebook: https://www.facebook.com/RichardParkerDiomo
Instagram: https://www.instagram.com/richardparkerdiomo/
Linkedin: https://www.linkedin.com/in/richardparkerdiomo/
Connect with Roger:
Website: https://www.sterlingfoundations.com
Facebook: https://www.facebook.com/sterlingfoundations/
Twitter: https://x.com/SterlingFndMgt?mx=2
LinkedIn: https://www.linkedin.com/company/sterling-foundation-management-llc/
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