Getting Optimal Value when Selling Your Business Ft/ Alexis Kingsbury
This week we listen to the second part of my interview with Alexis Kingsbury, where we uncover the secrets to getting optimal value when selling a business. Alexis shares insights on how to document processes and create a streamlined onboarding system for new team members and clients. We explore how strong processes can increase a client's confidence in buying a business and the risks faced when business owners exit. Alexis also emphasizes the importance of documenting your business growth and the benefits of having an operations manual.
Tune in to discover practical advice and tips that will help you maximize the value of your business and ensure a successful transition. Don't miss this insightful conversation on the essential steps every business owner should take to secure their legacy and create long-term success.
Key Highlights
[01:51] The secret to getting optimal value when selling a business
[02:37] How to increase a client's confidence in buying a business
[03:24] How having processes in a business gives buyers confidence
[04:31] Risks of a business owner exiting
[06:51] The importance of documenting your business growth
[11:12] The benefits of having an operations manual
[15:29] How documenting client onboarding processes benefits an organization
[20:30] How to connect with Alexis
Notable Quotes
- Here are a few ways in which you increase the value of the business to the person acquiring it. But of course, one of the key ones, one of the key ways essentially is confidence in future cash flow.
- So key members of staff leaving is a key cause of risk, particularly when you're acquiring because the concern is that the business owner had got the relationships and so on.
- If you have friction in the way, people don't follow the processes.
- We often say attack the process, not the person.
- It's not just about reducing mistakes. It's not just about freeing yourself up as a business leader. So fundamentally improving your service and your performance and everything, like the impact it can have, is huge.
Resources
Buying a business is only the start, which is why we are now teaching what happens next on the Mastermind program. Now, if you've already bought a business, you should be part of my Inner Circle group where we discuss raising capital, integration management, and exiting. Email Maria on hello@thedealmakersacademy.com for more information.
If you are looking for a lawyer in the UK to help you get the deal over the line, then use my own lawyer, John Andrews. You can phone his office at (0345) 2412494 or email him at johnandrews.deallawyer@jmw.co.uk.
If you would like to take the next step to learn the best ways of buying a business, without risking your own cash, you can access my free training at: www.dealmakerspodcast.co.uk
Watch my Webinar Training Video: https://www.dealmakerspodcast.co.uk
You can also request a free copy of my book at: https://www.thedealmakersacademy.com/free-book-giveaway/
If you want to jump straight to my live Zoom FastTrack course, please go to: https://www.thedealmakersacademy.com/fast
Connect with Jonathan Jay at: Website: https://www.thedealmakersacademy.com/ LinkedIn: https://www.linkedin.com/in/jonathan-jay-3556b230/ YouTube: https://www.youtube.com/c/TheDealmakersAcademy
