My First Million #21 - How To Value, Sell and Buy Online Businesses
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Oct 30, 2019 In this discussion, Joe Valley, a partner at Quiet Light Brokerage with expertise in valuing online businesses, shares invaluable insights. He breaks down the critical concept of seller's discretionary earnings and why accurate financial records matter. Listeners will learn about the entrepreneurial journey, moving from employee to business owner, and the emotional dynamics involved. Valley also emphasizes trust in transactions and the strategic benefits of buying existing businesses, including tips on financing through SBA loans.
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Ramon's Success Story
- Ramon Van Meer sold a $200,000 business, then a $400,000 business.
- Finally, he sold a $9 million business through Quiet Light Brokerage.
Plan Your Exit
- Plan your business exit; there are things you can do to increase its value.
- Prepare by organizing and improving your business for the next owner.
Accurate Financials
- Use good accounting software and ensure your financials are accurate.
- Understanding your business's value is crucial for setting appropriate goals.
