I’m so excited to have Chad Peterson here with me today to discuss selling your business. Chad is the CEO of Peterson Acquisitions, an award-winning mergers and acquisitions firm that handles transactions ranging from $1 million to $25 million and above. They were recently named the #1 ranked business broker in the United States, and have been featured in USA Today and the Business Journal, but what really sets Chad apart is his incredible work ethic and tenacity that is all rooted in his humble beginnings.
In this episode, we’re talking all about setting your business up now to make it desirable for somebody to want to buy in the future. Listen in as Chad shares his insights on what makes a business valuable, how to determine what your business is worth, and what an exit strategy could look like. This is an important episode for anyone with a business—even if you don’t have any immediate plans to sell—so don’t miss it!
In this episode, we cover topics such as:
- Questions you should be asking when setting your business up to sell.
- The psychology behind starting and selling a business.
- Why you should be checking in with your broker at least once a year about what your business is worth.
- The three most important things that determine the value of a business.
- The benefit of showing all your income on your tax returns.
Please enjoy today’s episode — and visit the resources below to find everything mentioned in the show!
What you will hear:
[7:15] Chad’s path to get to where he is today.
[10:30] Why we should be thinking about shifting the mindset that we’ll hold on to our businesses forever.
[13:15] What happens if a business is built on your personal brand.
[14:30] How to determine what your business is worth.
[15:30] Why you should consider hiring a broker to sell your business.
[20:00] The things that determine the value of a business.
[25:45] How to get your business to a desirable place for selling.
[30:00] How owner benefits are factored into the valuation.
Ideas Worth Sharing:Businesses change hands more than people think they do. - @Chadpetersonpod Click To Tweet There’s a difference between having something and being able to get something done with it. - @Chadpetersonpod Click To Tweet You’ve got one shot—you don’t want to waste it. - @Chadpetersonpod Click To Tweet
- Chad Peterson: Website | LinkedIn | Twitter | Facebook | YouTube
- Swinging Doors: A Guide To Selling Your Company by Chad Peterson
- From Blue To White: Quit Your J.O.B. by Chad Peterson
- The Business Brokers Podcast
- The Draw Shop
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