Are you aware of what your business is truly worth?
In today’s episode, Joe Valley, a serial entrepreneur, EXITpreneur, M&A Advisor, Podcaster, and Partner at Quiet Light Brokerage discloses the first step for selling your business and why you should prepare and reverse engineer your exit. Joe also remarks on the importance of making sure it’s the right time to sell and where your focus needs to be if you want to postpone your exit. Pay close attention to Joe’s insights about the aggregator space and how the pool of buyers are potentially way bigger than just aggregators. Listen and enjoy!
Joe Valley is a serial entrepreneur, EXITpreneur, M&A Advisor, Podcaster, and Partner at Quiet Light Brokerage, one of the top online business brokerage-advisory firms in the world. Joe has also built, bought, or sold over half a dozen of his own companies. And over the last nine years, he has mentored thousands of entrepreneurs whose goal is to achieve their own eventual exit. He is a Certified Mergers & Acquisitions Professional, and a frequent guest expert in mastermind groups, AMAs, podcasts, and speaker events for entrepreneurs worldwide. Joe’s book, The EXITpreneur’s Playbook shares real-life stories of successful and failed exits, and teaches you how to reverse engineer a pathway to your own incredible exit. Joe has personally closed nearly 100 million in transactions and touched nearly a half-billion in online exits through the entrepreneur-led team of Advisors at Quiet Light.
[00:01 – 08:50] The EXITPreneur’s
- Make sure to check The EXITPreneur’s Playbook
- Joe’s experience being self-employed
- Launching his first online business
- Why he decided it was time to sell his business
- How Joe joined Quiet Light Brokerage
- They closed under 215 million in total transactions in 2021
- The reason why Joe came up with the idea of writing a book
[08:51 – 23:17] Understanding What Brings Value
- The reason why he started using the term Exitpreneur
- Reading Joe’s book is a great entrepreneurial education
- It gives very concrete information and keeps the reader engaged
- Looking for the opportunity versus preparing your exit
- Why you should prepare and reverse engineer your exit
- Always set a goal
- Why you should prepare and reverse engineer your exit
- How people can know when it is the right time to sell your business
[23:18 – 41:41] The EXITPreneurs Needs to Be Very True to Themselves
- The key metrics people may change to maximize the potential of their exit
- Have a great eCommerce bookkeeper and do accrual accounting
- Focus on risk, growth, transferability, and documentation.
- Have a great eCommerce bookkeeper and do accrual accounting
- At which point the seller has more leverage than the buyer to structure a deal
- Think about how competitive the process is
- The lowball offers vs the fair market value
- if you price the business right, the lowball offers don’t come in
[41:42 – 48:43] Closing Segment
- Joe on the four rapid-fire questions
- Book a strategy session, drop your questions and comments on https://letstalkexits.com
Key Quotes:
“If you don’t think about prepare and reverse engineer your exit, and that aggregator catches you on a bad day and gives you a number that feels good, you are going to be selling for a lot less than you should be.” – Joe Valley
“The right time to sell is when it’s the right time for you the business owner. You might not be ready but your business is trending down and then you have to look out to the future.” – Joe Valley
“You’re building a great business for a great buyer to take over at a great price with a great deal structure. ” – Joe Valley
Connect with Joe
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