Secret Leaders $25,369,000 EXIT: The Brutal Truths Of Selling My Business
6 snips
Feb 7, 2025 Get a raw insight into the emotional rollercoaster of selling a business. Discover the struggle between financial success and the deeper emotional impact of an exit. Hear about unexpected offers during crises and the complex realities of transitioning from founder to employee. Explore the challenges of compliance and identity shifts after a sale, plus the importance of mental health planning during this transformative journey. Those considering an exit will find valuable lessons and personal reflections in this candid discussion.
AI Snips
Chapters
Transcript
Episode notes
Building Sellable Companies
- Build companies to be sellable, even if selling isn't the initial goal.
- Focus on consistent growth, profit, and good margins to attract future buyers or investors.
Pre-COVID Offer
- Chris Donnelly received an unexpected offer to buy his company, Verb Brands, pre-COVID.
- They declined, anticipating a better offer, but COVID hit, and the offer was rescinded.
COVID's Impact and Rebuilding
- COVID devastated Verb Brands, losing 80% of its business.
- Post-COVID, they rebuilt, focusing on making the business sellable, and secured interest from three major agencies.