Consulting Success Podcast
The Truth About Selling Your Consulting Business with Darryl Bates-Brownsword
Oct 28, 2024
Darryl Bates-Brownsword is the Managing Partner of Succession Plus and a pioneer in exit planning for entrepreneurs. He shares his journey from Australia to the UK, revealing how he doubled a seven-figure business by innovating exit strategies. Darryl emphasizes the importance of early business preparation to enhance valuation and avoid earnout pitfalls. He also discusses strategic networking, the power of personal connections, and how to systematize processes for a more scalable and sellable business.
38:15
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Quick takeaways
- Establishing reliable revenue streams through subscription models significantly enhances a consulting business's valuation and buyer confidence.
- Leveraging personal networks is crucial for new market entry, particularly to educate potential clients on the importance of exit planning.
Deep dives
The Importance of Subscription Models in Consulting
Establishing reliable revenue streams is crucial for consulting businesses, particularly through subscription models or long-term contracts. This approach ensures that income is secure and predictable, significantly increasing the business's valuation. Rather than relying on project-to-project engagements, having locked contracts can enhance buyer confidence in the business’s financial stability. This focus on stability allows for smoother operations and a higher valuation when it comes time to sell the business.
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