Grow A Small Business Podcast QFF: Joe Burrill, Founder of Just Website Brokerage, shares how he built a leading online business brokerage, navigated Flippa, AI, and SEO challenges, and drove client success with tailored strategies and expert deal-making. (Episode 643 - Joe Burrill)
QFF: Quick Fire Friday β Your 20-Minute Growth Powerhouse!
Welcome to Quick Fire Friday, the Grow A Small Business podcast series that is designed to deliver simple, focused and actionable insights and key takeaways in less than 20 minutes a week. Every Friday, we bring you business owners and experts who share their top strategies for growing yourself, your team and your small business. Get ready for a dose of inspiration, one action you can implement and quotable quotes that will stick with you long after the episode ends! In this episode of Quick Fire Friday, host Troy Trewin interviews Joe Burrill, founder of Just Website Brokerage, shares how he built a leading online business brokerage specializing in buying and selling digital businesses. Joe discusses navigating Flippa, AI, and SEO challenges, highlighting the impact of Google's Helpful Content Update. He also explains valuation strategies, deal structuring, and his passion for helping clients achieve success through expert deal-making. This episode offers actionable insights for anyone looking to sell or acquire an online business. Key Takeaways for Small Business Owners: Prepare Your Business for Sale: Ensure accurate financial records, a clear profit-and-loss statement, and transparency about your business's operations to attract serious buyers.
Timing Matters: Sell your business when it's performing well, as a growing trend in revenue and traffic is more appealing to buyers than a declining one.
Understand Valuation: Businesses are often valued using a multiple of Seller's Discretionary Earnings (SDE). High-quality businesses with stable revenue streams and minimal owner involvement command higher multiples. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for?
Highlight Opportunities: Showcase untapped potential areas like new markets, unactivated revenue streams, or growth strategies to appeal to buyers and maximize your business's value.
Be Flexible with Deal Structures: Consider vendor financing or installment plans to make your business more accessible to buyers, especially for higher-value transactions.
Leverage Professional Help: Engaging an experienced broker like Just Website Brokerage can streamline the selling process, ensure better deal-making, and provide access to a larger network of potential buyers. One action small business owners can take: According to Joe Burrill, the one action small business owners should take is to organize their financial records and create a clear profit-and-loss statement. This foundational step is crucial for understanding business value and attracting serious buyers.
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Quotable quotes from our special Grow A Small Business podcast guest: Transparency is key when selling your business; honesty builds trust and attracts the right buyers β Joe Burrill
Know your numbers; understanding your profit and loss is the foundation of a successful sale β Joe Burrill
The best deals happen when both buyer and seller feel they've won β balance is the art of deal-making β Joe Burrill