How2Exit: Buy, Don't Build - M&A of Small Businesses

About the Guest(s): Marc Andre is a seasoned entrepreneur and online business expert who entered the world of website creation and monetization back in 2007. With a background as an auditor for a finance company, he shifted his focus to developing websites and creating digital products that cater to various industries, including web and graphic design, photography, and personal finance. Marc boasts six-figure exits from flipping websites and has a track record of building online assets through small, strategic wins. He currently operates Flipmysite.com, where he offers insights on buying, fixing, and selling websites.Summary: In this episode of the How to Exit Podcast, Ronald Skelton welcomes Marc Andre of Flip My Site to share his wealth of experience in the niche of online business acquisitions, particularly in the realm of websites. Marc delves deep into the intricacies of creating, growing, and flipping websites, while also providing invaluable advice on monetization strategies beyond just advertisements and affiliate marketing. The conversation unfolds as Marc retraces his journey from starting his first blog in 2007 to realizing the potential in growing and selling digital properties. The duo discusses the volatility of relying on organic traffic and the importance of diversifying revenue streams to mitigate risks associated with search engine updates. Marc's conservative yet effective approach to website investment entails looking for opportunities in topics he is familiar with, emphasizing the long-term growth over quick flips. Key Takeaways:Building online assets and flipping websites can be a strategic approach for consistent financial growth, focusing on small wins rather than seeking million-dollar exits.Diversification of revenue streams is crucial for website stability, with digital products offering a viable alternative to ad revenue and affiliate marketing.Starting a website involves selecting a suitable domain, creating valuable content, and gradually building traffic using strategies such as social media, guest blogging, and SEO.Implementing an email list strategy for a website significantly enhances the potential for direct marketing and repeat customer engagement.Marc emphasizes the need to work on topics of personal interest, ensuring the website growth journey aligns with the entrepreneur's knowledge and passion areas.Notable Quotes:"I enjoyed growing the site a lot more than I enjoyed the client work.""My goal is basically just working on small internet businesses and kind of stringing together a bunch of small wins.""One of the best things that you can do to protect yourself is have those other types of revenue streams.""One of the first posts I linked out to a bunch of resources ... and a lot of those people wound up sharing it on Twitter or other social platforms, which helped me get some traffic to the site."Watch it on Youtube: https://youtu.be/OjJ4VK7m-s8--------------------------------------------------Contact Marc onLinkedin: https://www.linkedin.com/in/marc-andre-a75927181/Website: https://flipmysite.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.com👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

About The Guest(s): Max Koutny is a serial entrepreneur and founder of multiple companies. He has experience in various industries, including architecture, specialty products, health and wellness, and organic skincare. Max is currently searching for new acquisition opportunities in the health and wellness, personal care and beauty, food and beverage, specialty chemicals, and alternative energy sectors.Summary: Max Koutny is a serial entrepreneur with a background in architecture and a passion for creating and growing businesses. He has founded multiple companies and is currently searching for new acquisition opportunities in the health and wellness, personal care and beauty, food and beverage, specialty chemicals, and alternative energy sectors. Max believes in the power of trial and error in entrepreneurship and emphasizes the importance of finding a business that aligns with your passion and expertise. He also highlights the value of keeping the founder involved in the business after acquisition and the need for continuous innovation and adaptation in the ever-changing business landscape.Key Takeaways:Max Koutny is a serial entrepreneur with experience in various industries, including architecture, specialty products, health and wellness, and organic skincare.He is currently searching for acquisition opportunities in the health and wellness, personal care and beauty, food and beverage, specialty chemicals, and alternative energy sectors.Max believes in the power of trial and error in entrepreneurship and emphasizes the importance of finding a business that aligns with your passion and expertise.He highlights the value of keeping the founder involved in the business after acquisition and the need for continuous innovation and adaptation in the business world.Quotes:"If you're able to create a business that is both profitable and environmentally friendly, there's a huge opportunity." - Max Koutny"Being a good operator is important, but it's also important to have a bit of vision and be creative." - Max KoutnyWatch it on Youtube: https://youtu.be/XlU0HnmHJy0--------------------------------------------------Contact Max onLinkedin: https://www.linkedin.com/in/max-business/Website: http://fiftysevencapital.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.com👇🏻SUBSCRIBE HERE https://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

About The Guest(s): Ronald Skelton is the host of the How2Exit Podcast, where he interviews business owners, industry leaders, authors, mentors, and other influencers in the mergers and acquisitions space. With over 200 interviews under his belt, Ronald has gained valuable insights into the world of small to medium-business acquisitions.Summary: In this episode of the How2Exit Podcast, guest host Marty Fahncke interviews Ronald Skelton, the host of the podcast. They discuss the origins of the podcast, Ronald's goals and intentions, and the valuable lessons he has learned from interviewing top experts in the mergers and acquisitions industry. Ronald emphasizes the importance of rapport, due diligence, and effective communication in the acquisition process. He also shares his top three mistakes that people make in acquisitions and offers advice for both newbies and seasoned professionals.Key Takeaways:Building rapport with the seller and all parties involved is crucial in the acquisition process.Due diligence should be front-loaded to avoid surprises and ensure a successful acquisition.Effective communication, including active listening, is essential for managing expectations and building trust.Quotes:"Everything you have now, everything you've ever had in the past, everything you want to have in the future is in direct correlation to conversations you've either had, avoided having, or should have." - Ronald Skelton"Change your conversation, change your life." - Ronald Skelton"Humans typically hate change. Take the time to observe and build rapport with employees before making significant changes." - Ronald SkeltonWatch it on Youtube: https://youtu.be/bxZ8a6oEEuw--------------------------------------------------Contact Ronald onLinkedin: https://www.linkedin.com/in/ronskelton/Website: https://www.how2exit.com/Contact Marty onLinkedin: https://www.linkedin.com/in/martyfahncke/Website: https://www.westboundroad.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.comDon't Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/🎬SUGGESTED VIDEOSDon't forget to watch 📽 Our other videos. Please check them out :▶️E169: Bakari Akil - https://youtu.be/TT5eLntYExk?si=7HrskiDEy0rDfj6R▶️E155: David Dodson, OG of Search Funds - https://youtu.be/SeeuV2ERVxs?si=dBth3jATsv8qUm1T▶️Walker Deibel Episode - https://youtu.be/xoUH_Ixeook?si=fXLfZvTaiYDmvIsM#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

About The Guest(s): Tyson Ray is a founding partner of Form Wealth, a financial advisory firm that specializes in exit planning for small to medium-sized businesses. He has extensive experience in helping business owners navigate the complexities of selling their businesses and planning for retirement.Summary: In this episode, Ronald Skelton interviews Tyson Ray, a financial advisor and exit planning expert. They discuss the importance of involving a financial advisor in the process of buying or selling a business, and the role they play in helping business owners plan for retirement. They also touch on the challenges that business owners face when it comes to understanding the financial implications of a sale and how to make the most of the proceeds.Key Takeaways: It is crucial for business owners to start planning for their exit at least three to five years before they intend to sell.Financial advisors can provide valuable insights and guidance on how to maximize the value of a business and plan for retirement.Business owners should consider the emotional and psychological aspects of selling a business, as well as the financial implications.It is important to involve a financial advisor in the process of selling a business to ensure that the proceeds are managed effectively and aligned with the owner's longterm goals.Quotes:"Financial advisors need to stop selling last week's lotto numbers for a fee and start focusing on the bigger picture." - Tyson Ray"Selling a business isn't an overnight thing. It requires careful planning and consideration of various factors." - Ronald Skelton"The more time we have, the more options we have. The shorter time we have, the less options we have." - Tyson Ray"Your business is worth more if your plan is in place. Your employees are more loyal if the plan is in place." - Tyson Ray"The biggest mistake business owners are making is letting the urgent crowd out the important." - Tyson RayWatch it on Youtube: https://youtu.be/Atb72_avfAw--------------------------------------------------Contact Tyson onLinkedin: https://www.linkedin.com/in/tysonray/Website: http://www.formwealth.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.comDon't Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/🎬SUGGESTED VIDEOSDon't forget to watch 📽 Our other videos. Please check them out :▶️E94: Hans Sperling Discusses Mergers And Acquisitions Transactions And Provisions - https://youtu.be/VdFEZq13SpE▶️E90: Christine McDannell of Magnolia Firm Helps Business Owners Achieve Seamless Exits - https://youtu.be/wyl358GKQ4Y▶️E127: Kirk Michie Discusses His Role As A Business Advisor And The Secrets To Selling A Business - https://youtu.be/ahHQk5_CVuo#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

About The Guest(s): Michael Frew is an acquisition entrepreneur with a background in engineering. He has been acquiring and running online businesses for the past eight to nine years, specializing in SaaS software. Michael enjoys working with other engineers and focuses on cloud infrastructure, engineering tools, and engineering services.Summary: Michael Frew shares his journey from being an engineer to becoming an acquisition entrepreneur. He explains how he stumbled upon the idea of acquiring online businesses and why he decided to pursue this path. Michael primarily focuses on acquiring SaaS software companies and discusses the factors he considers when evaluating potential acquisitions. He also talks about the market conditions for buying and selling businesses and the importance of finding a team that can successfully replace the original owner. Michael emphasizes the need for a good tech stack and the role of customer service in growing and maintaining a business. He concludes by encouraging engineers to consider acquisition entrepreneurship as a viable career option.Key Takeaways: Acquisition entrepreneurship is a career option for engineers looking to transition from their corporate roles.Finding a team that can successfully replace the original owner is crucial when acquiring a business.The tech stack of a business should be considered when evaluating potential acquisitions.Customer service plays a significant role in growing and maintaining a business.The market conditions for buying and selling businesses are constantly changing.Quotes:"Acquisition entrepreneurship is pretty professional in the brick-and-mortar world. We're getting there with online as well." - Michael Frew"Don't be discouraged if it takes a little while to find the right business to buy." - Michael FrewWatch it on Youtube: https://youtu.be/vFeaTXt9rgo-------------------------------------------------- Contact Michael onLinkedin: https://www.linkedin.com/in/michaelfrew/Website: https://www.michaelfrew.com/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.com👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/🎬SUGGESTED VIDEOSDon't forget to watch 📽 Our other videos. Please check them out :▶️E94: Hans Sperling Discusses Mergers And Acquisitions Transactions And Provisions - https://youtu.be/VdFEZq13SpE▶️E90: Christine McDannell of Magnolia Firm Helps Business Owners Achieve Seamless Exits - https://youtu.be/wyl358GKQ4Y▶️E127: Kirk Michie Discusses His Role As A Business Advisor And The Secrets To Selling A Business - https://youtu.be/ahHQk5_CVuo #How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/3mC8Qk37pGoAbout The Guest(s): Danya Shakfeh is a business attorney and the founder of Motiva Business Law. With a passion for helping business owners prevent legal issues, Danya focuses on providing value and guidance to her clients. She specializes in working with small businesses and has a particular interest in mergers and acquisitions.Summary: Danya Shakfeh, a business attorney and founder of Motiva Business Law, joins the podcast to discuss the art of business. She shares her journey into the legal field and how she found her niche in business law, specifically mergers and acquisitions. Danya believes that running a business is a form of artistic expression, allowing entrepreneurs to build something unique and different. She emphasizes the importance of creating a business that aligns with your values and stands out from the competition. Danya also provides valuable insights for small business owners, including the need for clear partnership agreements, understanding local regulations, and building a strong team of professionals.Key Takeaways: Building a business is a form of artistic expression, allowing entrepreneurs to create something unique and different.It is important for business owners to have clear partnership agreements to prevent disputes and ensure everyone's roles and responsibilities are defined.Understanding local regulations and compliance requirements is crucial for small business owners to avoid fines and legal issues.Building a strong team of professionals, including an accountant and bookkeeper, is essential for managing finances and understanding the financial health of the business.Quotes:"If you're comfortable being a business owner, you're not doing it right. It's supposed to feel a little bit scary." - Danya Shakfeh"You want to stick out. You have to do things differently. And that's where your creative expression can come in." - Danya Shakfeh"Having a relationship with my clients is a core value of my law firm. I want to get to know them as people and understand their motivations." - Danya Shakfeh--------------------------------------------------Contact Danya onLinkedin: https://www.linkedin.com/in/danyashakfeh/Phone: 630-517-5529--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.comDon't Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/cemb1gD2BVkAbout The Guest(s): Jerome Myers is an expert in helping business owners navigate the process of exiting their businesses. He has a background in real estate and has built a successful division of a Fortune 550 company. Jerome is passionate about helping business owners achieve their financial goals and create a meaningful impact in the world.Summary: Jerome Myers discusses the Founder's Exit Paradox, which refers to the mental and emotional challenges that business owners face when exiting their businesses. He shares his own experience of being laid off from a corporate job and then transitioning into real estate and business ownership. Jerome emphasizes the importance of planning for an exit and highlights the six centers of doubt that business owners often experience after selling their businesses. He also discusses the significance of finding purpose and making a positive impact in the world after an exit.Key Takeaways: Exiting a business can be a traumatic experience for business owners, and it is important to be aware of the emotional challenges that may arise.Planning for an exit and being exit-ready can lead to a smoother transition and a more valuable business.Business owners should consider their self-image, relationships, work, health, prosperity, and significance when preparing for an exit.Significance plays a crucial role in post-exit life, and business owners should focus on making a positive impact and leaving a legacy.Quotes:"Your wealth, so much of your wealth is tied up in that business. And if you don't harvest that wealth in some way, shape, or form, then it's just going to die in the business." - Jerome Myers"The more valuable you are to your business, the less valuable your business is." - Jerome Myers"The only thing that actually gives our life real meaning and allows us to create real happiness is service to others." - Jerome Myers--------------------------------------------------Contact Jerome onLinkedin: https://www.linkedin.com/in/jeromemyers/Website: http://www.jeromemyers.co/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton TheIT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.comDon't Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :)▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/NJJkSKNzHTIAbout The Guest(s): Eric Pacifici is a founding member of SMB Law Group and an active member of the small and medium business community. He is passionate about small business entrepreneurship and has extensive experience in small business mergers and acquisitions. Eric is also the host of the podcast "Mundane Millionaires," where he interviews everyday entrepreneurs who are making a difference with their businesses.Summary: Eric Pacifici discusses the current state of the business buying market and the opportunities it presents for entrepreneurs. He shares that SMB Law Group is currently working on 60 transactions and personally assisting 25 clients in the business buying process. Eric emphasizes that the success of these deals is not solely due to the firm's expertise, but rather the economic climate and the incredible opportunities available. He highlights the journey of first-time business buyers and the significant financial gains they experience once they understand the process. Eric concludes by expressing his love for the small business community and his willingness to help anyone in their entrepreneurial endeavors.Key Takeaways:The business buying market is booming, with numerous opportunities for entrepreneurs.SMB Law Group is currently involved in 60 transactions and assisting 25 clients in the business buying process.First-time business buyers often experience significant financial gains once they understand the process.Eric Pacifici is passionate about the small business community and is willing to help anyone in their entrepreneurial endeavors.Quotes:"We as a firm have 60 transactions in process right now at varying stages of the business buy.""These buyers take a long time to figure out, to learn about entrepreneurship, get through the process, acquire that first business within the next year.""The calls I'm getting are like, hey, man, I'm clearing $40,000 to $60,000 of free cash flow a month.""We interview people who are on main street making money in different capacities and just normal everyday guys and gals that are doing extraordinary things with their businesses and with their families.""I love entrepreneurship through acquisition. I love the small business community. I care so deeply about my clients and about people who are trying to do something different with their life."--------------------------------------------------Contact Eric onLinkedin: https://www.linkedin.com/in/eric-b-pacifici/X: @smb_attorney--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.comDon't Forget to SUBSCRIBE to the How2Exit channel and press (🔔) to join the Notification Squad and stay updated with new uploads.✨👇🏻SUBSCRIBE HEREhttps://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1 𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/UpeJnUCHiHsAbout The Guest(s): Paul Barnhurst is a financial advisor and FP&A expert. He is the host of the Financial Moderators Corner podcast and has extensive experience in financial planning and analysis.Summary: In this episode, Ronald Skelton interviews Paul Barnhurst, a financial advisor and FP&A expert. They discuss the importance of financial modeling and analysis in the context of buying and selling businesses. Paul explains the role of FP&A in helping businesses make informed financial decisions and manage their cash flow. He emphasizes the need for regular financial review and the importance of understanding key financial metrics. Paul also shares insights on how to evaluate the financial health of a business during the due diligence process and highlights the value of accurate and transparent financial statements.Key Takeaways: Regularly reviewing financial statements is crucial for business success and decision-making.Cash flow is the lifeblood of a business and should be closely monitored.Financial modeling helps businesses make informed decisions and optimize their spending.Understanding key financial metrics and industry benchmarks is essential for evaluating the financial health of a business.It is important to have accurate and transparent financial statements when buying or selling a business.Quotes:"Finance is an FP&A role's goal is to ensure you best spend the next dollar where you best spend it.""If you're not regularly reviewing your financials, it's really easy to make mistakes and miss opportunities.""Financials are a lagging indicator, while business operations are leading indicators.""What we measure gets improved. If you don't measure and manage it, nothing happens.""Financial modeling is a decision-making tool that helps you make better business decisions."--------------------------------------------------Contact Paul onLinkedin: https://www.linkedin.com/in/thefpandaguy/X: https://twitter.com/TheFPandAGuy--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.com 👇🏻SUBSCRIBE HERE https://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/🎬SUGGESTED VIDEOSDon't forget to watch 📽 Our other videos. Please check them out :▶️E94: Hans Sperling Discusses Mergers And Acquisitions Transactions And Provisions - https://youtu.be/VdFEZq13SpE▶️E90: Christine McDannell of Magnolia Firm Helps Business Owners Achieve Seamless Exits - https://youtu.be/wyl358GKQ4Y▶️E127: Kirk Michie Discusses His Role As A Business Advisor And The Secrets To Selling A Business - https://youtu.be/ahHQk5_CVuo#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.

"This episode was brought to you by Reconciled.com. Helping M&A Entrepreneurs just like you with Bookkeeping, CFO & Controller Services, Outsourced Enterprise Accounting and Tax Services. Reconciled.com"Watch it on Youtube: https://youtu.be/TT5eLntYExkAbout The Guest(s): Bakari Akil is the founder of Graves Hall Capital and an expert in mergers and acquisitions. He has bought several companies, including a burlap bag manufacturing company and an educational technology company. Bakari teaches entrepreneurship through acquisition at Cornell's business school and has a unique background in the field, having dropped out of college and learned about M&A through self-study and attending classes at top business schools.Summary: Bakari Akil shares his journey into the world of mergers and acquisitions (M&A) and entrepreneurship through acquisition (ETA). Despite not having a formal business education, Bakari was determined to find a path to success. He discovered the concept of leveraged buyouts and realized that he could buy an existing business and use bank financing to fund the acquisition. Bakari audited classes at top business schools and built a network of business brokers and investment bankers to source deals. He successfully closed several transactions, including the acquisition of a burlap bag manufacturing company and an educational technology company. Bakari's approach to deal structuring and capital sourcing has allowed him to complete transactions without using his own capital.Key Takeaways:Bakari Akil's unconventional path to success in the world of mergers and acquisitions.The concept of entrepreneurship through acquisition and the advantages of buying an existing business.The importance of deal sourcing and building a network of business brokers and investment bankers.The role of independent sponsors in structuring deals and attracting capital.The challenges and rewards of completing M&A transactions without using personal capital.Quotes:"I can go and borrow money from the bank for an existing business that's already up and running.""I actually don't put up a lot of money. I actually get paid when I buy a company.""There's no free lunch. There's no, 'I'm getting it for free.' It's going to cost something.""Be willing to go through that toughness and that grind and not expect to be able to get some great business for no money.""There's a ton of time and grind and waiting and patience that goes into doing this."(Note: The quotes provided are direct quotes from the transcript and may not be suitable for social media sharing. Please select appropriate quotes for social media use.)--------------------------------------------------Contact Bakari onLinkedin: https://www.linkedin.com/in/bakariakil/--------------------------------------------------How2Exit Joins IT ExchangeNet's Channel Partner Network!-Why IT ExchangeNet?Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match."Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron SkeltonThe IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.Our partnership with IT ExchangeNet focuses on deals above $5M in value. If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.--------------------------------------------------💰If you’d like additional ways to support this podcast, you can become a paid subscriber here: https://how2exit.substack.com/►Visit Our Website: https://www.how2exit.com/📧For Business Inquiries: Me@4sale2sold.com👇🏻SUBSCRIBE HERE https://www.youtube.com/channel/UC_ONnhwaKSTPFt2nOxKoXXQ?sub_confirmation=1𝐖𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐦𝐨𝐫𝐞 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬...?▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬👍 Like the video (it helps a ton!)💬 Comment below to share your opinion!🔗 Share the video with anyone you think might help :) ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬📱Stay Tuned On Our Social Media :» Linkedin - https://www.linkedin.com/in/ronskelton/» Twitter - https://twitter.com/ronaldskelton» Facebook - https://www.facebook.com/How2Exit» Newsletter - http://deeper.how2exit.com/#How2Exit # # 💖Thanks for watching! 💖Become a supporter of this podcast: https://www.spreaker.com/podcast/how2exit-buy-don-t-build-m-a-of-small-businesses--4859429/support.