Have you had a profitable exit from your successful business and in the back of your head you’re thinking, “Was this a fluke?” “Was I just lucky?” “Could I ever do it again?”
Maybe you’ve still got lots of energy and aren’t quite ready to sit on a beach sipping Mai Tai’s full-time?
Maybe you’ve reached a point of frustration, aggravation or evolution in your life or career where you are ready to reinvent yourself, your business and want to get paid while you do it.
Have you ever wondered if your knowledge and experience could help other “you’s”?
What if you could answer all these questions AND start a brand new, extremely profitable, soul-satisfying business in just 3 days!
Keep reading or just dig in and listen to this week’s episode because this is 1,000% for YOU.
It’s LIFE CHANGING, especially if you pay close attention and take action.
Mike just spent 3 days with Joey Osborne creating his new business.
Here's the backstory: Joey started and built the Mosquito Authority franchise over a 15-year period. A few years ago, someone wanted to buy the business, but the deal fell through.
Months later, Joey was approached by a number of private equity firms. So he went through the effort, learned a lot, went through due diligence, pushed past the painful parts and ended up selling to a private equity firm.
He had an eight figure exit and no financial worries, but the best part is he still has significant ownership and gets what's known in the industry as “the second bite of the apple.”
What is that?
The private equity firm brings in professional management, helps the business grow, does more acquisitions, and at some point will sell the bigger business.
At that point, he’ll get paid again. He has a great relationship with the firm and can participate however he wants, but he knows enough about himself to get out of the way and let the big dogs take over.
Joey joined Mike for one of their Mexico Masterminds, and one night over drinks, Mike asked him, “What are you going to do next?” He replied, “I don't know but honestly, I'm a little scared right now. One thing I'm struggling with is, maybe this was luck? I need to prove to myself that I can do it again.”
Dan and Mike both know that's absurd, but all kinds of weird things pop up in an entrepreneur's mind, especially when you reach a brass ring. Where do you go from here when you've reached your biggest goals?
So Mike said, here's an idea for you, Joey… What if you started working with other “Joey's” from three to five years ago? Find them, coach them and help them get acquired by a private equity firm just like you did? You've got a lot of knowledge and have been through the process of building, scaling and selling a company. There are a lot of Joey's out there who, like you, don't know how much value they have or how to put the deal together.
Private equity firms need vetted businesses and the business owners to know the language of the sale. If you bring good deals to these PE firms, Mike knows how you can get paid six different ways!
Joey looked at Mike and said, Let's do it!
So they spent three days together in a workshop and figured out:
-The Mindset of his perfect buyer: They know it's basically a “Joey,” or someone who has value, doesn't know how much and doesn't know what he doesn't know.
-The Market: They want to go after other franchise businesses because that's Joey's sweet spot and businesses that are between $2 - $10 million. They discovered there are about 3,500 franchise founder/owners to target. They also focus on building relationships with other “buyers” - Private Equity forms.
-The Model: This is how you get paid. They are modeling Mike's “Superpower Accelerator Vision Day Workshop Experience.” This is where you join them for a 1:1 workshop and get prepped for an acquisition in three days. Joey will charge $50k-$100k for this, plus success fees.
-The Message: They figured out exactly what to say and how to quickly convert prospects into buyers.
-The Media: This is how they amplify and multiply the message out to the world. For Joey, they made a sales video, offer video, podcast interview, magazine article, brochure and website. In a day! Plus, Mike interviewed him for an episode of Capability Amplifier!
-The Multipliers: These are the strategies and tactics for getting prospects with the message and converting them into customers. They have 30 templates and systems to employ. On their 2nd day, Joey had already engaged some prospects and a PE firm partner.
Last night, Joey and Mike were having a cocktail and Joey said, “This was probably the most profound entrepreneurial experience I've ever had. I can't believe it, but we just invented a whole business in three days!”
All the marketing is done and ready to roll. All that's left are a couple landing pages. It was about as smooth of an experience Mike's had as well because he got to work with someone who speaks the Strategic Coach “vocabulary”.
One of the most rewarding things to hear as a mentor is something Joey said last night; “I am so energized right now because I have total clarity and know exactly what I'm going to do next.”
WOW. Mike couldn’t be more proud or psyched for Joey’s future. Full disclosure: Mike is collaborating as a partner in the new company!
