Does the thought of buying or selling a business make you feel uncomfortable or overwhelmed?
Well, what if I told you that as scary as it may sound, there are people out there who will guide you and give you the necessary tools and resources, all the while setting you up for success.
Michelle Seiler Tucker is the leading authority on buying, selling, and improving businesses, as well as increasing a business’ revenue streams.
Michelle’s mission is to always deliver more than is expected.
She sees opportunities where many are discouraged or have given up by identifying and correcting the top mistakes business owners make.
Over the past decade, she has sold several hundred businesses and franchises and continues to help buyers from all walks of life buy the American Dream, create financial freedom, be their own boss, and obtain a better quality of life.
Today, Michelle is the founder and CEO of Seiler Tucker Incorporated, is the author of Sell Your Business for More Than It’s Worth, Think & Grow Rich Today, and the soon-to-be-released book: Exit Rich. She is passionate about sharing her considerable knowledge and experience with others through her mentoring, training, and partnering programs.
In this episode of the Rock Your Money, Rock Your Life, Michelle and I discuss how you can take your business from a 5x to a 10x valuation, why you can only grow a business as much as you can grow the owner, and why your lack of profits are never the problem, but the symptom of a bigger issue.
What You’ll Learn from this Episode:
- What EBITDA is and how to determine the value of your business
- The 6 P’s of business
- The 3 transformational questions
- And much more!
“You can only grow the business as much as you can grow the owner.”
Topics Covered:
00:00 – Intro to Michelle
03:50 – Mergers and acquisitions
07:10 – The right people
08:40 – The 6 P’s
15:00 – Get out of the weeds!
18:01 – From a 5x to a 10x
25:04 – What is your NET?
27:00 – Your business is worth nothing
30:00 – The seller sanity check
31:00 – Connect with Michelle
34:40 – Structuring deals
38:37 – What are your non-negotiables
40:20 – Having a great team
42:10 – Opportunities in COVID
Key Takeaways
“Business owners have to get out of the transactional, and really start becoming transformational. It’s only when you’re transformational that you see true growth.” – Michelle Seiler Tucker
“I work with my clients to really focus on their strengths, hire their weaknesses, and create a business that works for them.” – Michelle Seiler Tucker
“Lack of profits is never the problem, it’s a symptom of not operating on one of the other 5 P’s.” – – Michelle Seiler Tucker
Connect with Michelle Seiler Tucker:
Connect with Rock Thomas:
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