86 Selling Your Business – Michelle Seiler Tucker & Pat Iyer

When you’re about to go on a trip, you key your destination into your GPS. Many people who start businesses, though, don’t think about their ultimate destination. Michelle Seiler Tucker, mergers and acquisitions (M&A) specialist, and author of Sell Your Business for More Than It's Worth and Exit Rich explains in this podcast why, even as you fully commit to the growth of your business, you must keep in mind that at some point, you will likely want to sell it. Those who use this destination to guide their business decisions join the 80% of business owners who end up with unsellable businesses. The process of preparing a business for sale is far more complex than you might imagine. A skilled M&A person needs to know what considerations govern an owner’s view of who they want as a buyer. Owners must have visions of a life after business. Many businesses fail to sell because they are based on an individual and are glorified jobs rather than companies. During the pandemic, we are seeing established businesses fail. Michelle points out that the most alarming statistic during this period is the failure of small businesses, the heart of the economy. Regardless of your business’s size, you will find great value in this information-packed podcast. It could make millions of dollars of difference in your financial life. ·       What aspect of building and running a business do owners rarely consider? ·       How do you sell a business for more than it’s worth? ·       What’s the difference between a business broker and a mergers and acquisitions advisor? ·       Why must the seller be able to envision a post-business life? ·       What factors make a business unsellable? Learn more about your ad choices. Visit megaphone.fm/adchoices