91: How Businesses Get Sold for Millions with Chris Younger

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 19 January 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’re a new entrepreneur, it may seem like a dream to sell a business for millions of dollars. People like Chris Younger, make that dream a reality. Chris founded Class VI Partners, an investment bank that helps entrepreneurs plan and prepare businesses for sale. Chris will be the first to admit that selling isn’t an easy process, it takes time, patience, and a lot of documentation. Chris compares selling your business to running a marathon: you need to be in it for the long haul to finish strong. He helps owners reach a price point that works for their future, and helps create the processes around selling that enable a new owner to carry the business to new heights. For many owners, success in selling comes from doing the hard work upfront, not putting it off for your future self (and employees) to deal with. So why would an entrepreneur want to sell? Maybe it's personal timing and they feel like they’ve given the business as much as they possibly can. It also could be business timing, the business may be seeking a new change in direction. Or it could be buying timing, a buyer comes in with the right offer, the right ability, and makes the sale. Whatever a reason for selling a business, a business owner needs to be prepared for their business to sell at some point. So even if you’re just starting out, hearing words of wisdom from Chris may net you a few more million dollars! Check the full show notes here: http://biggerpockets.com/bizshow91 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So, you want to be a marketer. It's easy. You just have to score a ton of leads and figure out a way to turn them all into customers. Plus manage a dozen channels, write a million blogs and launch 100 campaigns all at once. When that's done, simply make your socials go viral and bring in record profits. No sweat. Okay, fine. It's a lot of sweat. But with HubSpot's AI-powered marketing tools,
0:23.2	launching benchmark-breaking campaigns is easier than ever.
0:26.7	Get started at HubSpot.com slash marketers.
0:30.7	This episode is brought to you by Vantar.
0:33.6	Stressing over cybersecurity,
0:35.3	whether you're a startup, growing fast, or already established.
0:38.6	Vanta can help you get ISO-27,001 certified and more.
0:43.6	Plus, it allows your company to centralize security workflows,
0:47.6	complete questionnaires up to five times faster,
0:50.2	and proactively manage vendor risk to help your team stay compliant.
0:54.3	Head to vanta.com slash Spotify to learn more.
0:58.4	Ready to launch your business?
1:00.3	Get started with the commerce platform made for entrepreneurs.
1:03.5	Shopify is specially designed to help you start, run and grow your business
1:07.6	with easy customizable themes that let you build your brand,
1:11.2	marketing tools that get your products out there, integrated shipping solutions that actually
1:15.1	save you time, from startups to scaleups, online, in person, and on the go.
1:20.7	Shopify is made for entrepreneurs like you.
1:23.2	Sign up for your $1 a month trial at Shopify.com slash setup.
1:28.7	Welcome to the Bigger Pockets Business Podcast show number 91.
1:35.2	When you tell your company's story, you want to give them the full story, meaning if you've got Achilles Heels, if you've got issues in your business, tell the story around those.
1:53.0	Welcome to a real world MBA from the School of Hard Knocks, where entrepreneurs reveal what it really takes to make it.
	...

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