Oct 13, 2021
You’ve grown your business to new heights and now you’re ready to exit. When your business is on the line, how do you know if you’ve gotten every penny that it’s worth? Today’s episode is all about not leaving any money on the table.
Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. Michelle is the leading authority on buying, selling, and improving businesses, as well as increasing a business’s revenue streams. Over the past decade, Michelle has sold several hundred businesses and franchises, and she outlines how she did it in her latest book, Exit Rich.
80% of businesses will never sell. The reason? Business owners often just want out. They’re burned out and they don’t want to think about it anymore. In fact, the worst time to sell your company is during a catastrophe. For many owners, they never even had a plan to sell, so when it’s time to retire or move on to the next thing, they decide it’s just simply easier to close their doors instead.
Michelle specializes in buying, selling, fixing, and growing businesses. Throughout Michelle’s career, she has found that so many businesses aren’t actually sellable. They’re often a glorified job for someone instead. Her focus is to help businesses owners have a sellable asset by the end of her client engagement.
Circling back to the fact that 80% of businesses will not sell, that should be a huge wake-up call for any business owner currently. You have less than a 20% chance of success! So many business owners keep trucking along like everything is fine, but then hit a breaking point. Well, by the time you hit that breaking point, it’s too late to sell your business strategically.
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Scaling Up is the best-selling book by Verne Harnish and our team for Gazelles Coaching, on how the fastest-growing companies succeed where so many others fail. My name is Bill Gallagher, host of the Scaling Up Business Podcast and a leading Gazelles Coach. Gazelles is the term we use for fast-growing companies.
We help leadership teams with 4 Decisions around People, Strategy, Execution, and Cash so that they can Scale Up successfully and beat the odds of business growth success. Scaling Up for Gazelles companies is based on the Rockefeller Habits 2.0 (from Verne’s original best-selling business book, Mastering the Rockefeller Habits).