Build with Leila Hormozi Lessons From Selling My Businesses for $50Million At 29 | Ep 81
Oct 17, 2023
Learn about the crucial lessons from selling three businesses for $50 million at just 29. Discover the importance of knowing your buyers, differentiating between strategic and financial buyers, and understanding legal nuances like non-compete agreements. Explore the complexities of high-value transactions and the significance of a skilled finance team. Gain insights into working with bankers, the balance of major and minor negotiations, and tackling post-sale challenges. This is a must-listen for aspiring entrepreneurs!
AI Snips
Chapters
Transcript
Episode notes
Know Your Buyer
- Know what you're selling and what the buyer wants.
- Tailor your business's presentation to the specific buyer type (strategic or financial).
Initial Offer Strength
- Initial terms are usually the best you'll get.
- Diligence often reveals imperfections, not improvements, impacting later terms.
Dilution and Voting
- Understand dilution clauses and voting rights in new agreements.
- Protect your equity stake if not selling 100% of the business.