Business Exit Stories

Pursuing Post-Exit Dreams & Hitting Pause On The Podcast.

[https://businessexitstories.com/wp-content/uploads/2019/07/Business-Exit-Itunes-cover.png] After nearly 3 years of doing his podcast, Marvin has been faced with an opportunity to pursue his post-exit dreams. Listen to Marvin explain the importance of having a post-exit plan, his thoughts on the podcast thus far, and his plans for the future of the podcast. While the podcast may be on pause, for now, there is an endless archive of shows for you to listen to and continue to educate yourself on how to maximize the value of your business. As the web developer and producer of Marvin’s podcast, it has been a pleasure working with him and creating the podcast. It has been very amazing to watch it evolve into what I think is the best podcast for encapsulating the dos and don’ts for a business exit. Not just from the perspective of the business brokers who facilitate these deals, but also from Marvin’s ability to process this information and present it to you in an easily digestible form. I learned quite a lot. Marvin Storm [https://businessexitstories.com/wp-content/uploads/2019/07/nQVVpXEt_400x400.png]Marvin L. Storm BXAdvisors California Visit Website [http://businessexitstories.com/analytics/click.php?id=marvin_storm] Send E-mail [marvinlstorm@gmail.com?subject=Business%20Exit%20Stories%20Podcast%20Referral] [https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] [https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] [https://www.addtoany.com/add_to/email?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] [https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] [https://www.addtoany.com/add_to/sms?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] [https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F08%2F01%2Fpursuing-post-exit-dreams-hitting-pause-on-the-podcast%2F&linkname=Pursuing%20Post-Exit%20Dreams%20%26%20Hitting%20Pause%20On%20The%20Podcast.] The post Pursuing Post-Exit Dreams & Hitting Pause On The Podcast. [https://businessexitstories.com/2022/08/01/pursuing-post-exit-dreams-hitting-pause-on-the-podcast/] appeared first on Business Exit Stories [https://businessexitstories.com].

How a Sales Price Went From 1X to 4X with the Stroke of a Pen

[https://businessexitstories.com/wp-content/uploads/2019/07/cropped-siteicon.png] An offer was made on a client’s business by a strategic buyer and through the application of both skill and using the strategic buyers own financial metrics convinced the buyer and their advisors that it was to their benefit to pay not two or three, but four times more than their original offer to acquire his client’s business. A race car driver took his skills from the racetrack into the board room and built a successful company that became well known in the aftermarket auto performance industry where the need for speed is important, and to make a bundle of money doing it. However, as with a lot of entrepreneurs that have a specific skill set, the managerial complexities often overtakes them when the rigor of managing a growing business is not in their wheelhouse. When this happens, burnout can set in. An event planning business had a more than fair offer on the table but the entrepreneur hesitated and didn’t take the offer because he felt he could get more for his business. Shortly after turning down this offer, their revenue dropped over 95% because of unforeseen circumstances. Although the business survived, it is going to take years for the entrepreneur/founder to rebuild his business. A difficult task for someone in their sixties. Also, on this episode I have invited Diana Murphy, a mindset business coach, to join me to help me do a deeper dive into how entrepreneur/founders can optimize their value of their business when positioning it to sell. Be sure to listen to my post-mortem discussion with Diana at the end of the podcast. Bob Tankesley [https://businessexitstories.com/wp-content/uploads/2022/05/Bob-Tankesley.jpg]Bob Tankesley Neri Capital Partners Atlanta, Georgia Visit Website [http://businessexitstories.com/analytics/click.php?id=bob_tankesley] Send E-mail [btankesley@nericap.com?subject=Business%20Exit%20Stories%20Podcast%20Referral] [https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] [https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] [https://www.addtoany.com/add_to/email?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] [https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] [https://www.addtoany.com/add_to/sms?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] [https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fhow-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen%2F&linkname=How%20a%20Sales%20Price%20Went%20From%201X%20to%204X%20with%20the%20Stroke%20of%20a%20Pen] The post How a Sales Price Went From 1X to 4X with the Stroke of a Pen [https://businessexitstories.com/2022/06/01/how-a-sales-price-went-from-1x-to-4x-with-the-stroke-of-a-pen/] appeared first on Business Exit Stories [https://businessexitstories.com].

Part Two – Michael Richmond: What Happens When the Owners of a Company Don’t Know Why Their Company Was Valuable

[https://businessexitstories.com/wp-content/uploads/2019/07/cropped-siteicon.png] An importer of garden plants and supplies that was growing at an intense rate and making tons of money still couldn’t get their business sold or find a buyer until an advisor approached the problem and came up with an interesting solution. A third generation security and door hardware distributor that was the premier value-added distributor in the industry and was charging double what their competitors were charging. With help from an advisor, they were able to leverage trade secrets that even the current third generation owners didn’t really understand to get a sky-high valuation for the company. Michael Richmond [https://businessexitstories.com/wp-content/uploads/2022/04/Michael-Richmond.jpg]Michael Richmond The DAK Group Rochelle Park, New Jersey Visit Website [http://businessexitstories.com/analytics/click.php?id=mike_richmond] Send E-mail [%20mrichmond@dakgroup.com?subject=Business%20Exit%20Stories%20Podcast%20Referral] [https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/email?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/sms?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] The post Part Two – Michael Richmond: What Happens When the Owners of a Company Don’t Know Why Their Company Was Valuable [https://businessexitstories.com/2022/06/01/part-two-michael-richmond-what-happens-when-the-owners-of-a-company-dont-know-why-their-company-was-valuable/] appeared first on Business Exit Stories [https://businessexitstories.com].

Part One – Michael Richmond: Why a Company That Was Growing Exponentially Couldn’t Get Sold

[https://businessexitstories.com/wp-content/uploads/2019/07/cropped-siteicon.png] A company that manufactured orthopedic implants for pets was growing and profitable. However, getting this company positioned for an exit and finding the right acquiring company proved to be an extraordinary challenge that required some insightful thinking. Two women 25 years ago open a small retail bakery that makes sweets in the form of cookies and muffins. They opened their first bakery shop in Harlem in NYC and over time grew their cookie and muffin business to six locations. They were approached by a Private Equity Group who made a great offer. With the help of an advisor it increased the offer by nearly 40% seemingly out of thin air. Michael Richmond [https://businessexitstories.com/wp-content/uploads/2022/04/Michael-Richmond.jpg]Michael Richmond The DAK Group Rochelle Park, New Jersey Visit Website [http://businessexitstories.com/analytics/click.php?id=mike_richmond] Send E-mail [%20mrichmond@dakgroup.com?subject=Business%20Exit%20Stories%20Podcast%20Referral] [https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] [https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] [https://www.addtoany.com/add_to/email?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] [https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] [https://www.addtoany.com/add_to/sms?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] [https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F06%2F01%2Fpart-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold%2F&linkname=Part%20One%20%E2%80%93%20Michael%20Richmond%3A%20Why%20a%20Company%20That%20Was%20Growing%20Exponentially%20Couldn%E2%80%99t%20Get%20Sold] The post Part One – Michael Richmond: Why a Company That Was Growing Exponentially Couldn’t Get Sold [https://businessexitstories.com/2022/06/01/part-one-michael-richmond-why-a-company-that-was-growing-exponentially-couldnt-get-sold/] appeared first on Business Exit Stories [https://businessexitstories.com].

Part Two – Michael Richmond: What Happens When the Owners of a Company Don’t Know Why Their Company Was Valuable

An importer of garden plants and supplies that was growing at an intense rate and making tons of money still couldn’t get their business sold or find a buyer until an advisor approached the problem and came up with an interesting solution. A third generation security and door hardware distributor that was the premier value-added distributor in the industry and was charging double what their competitors were charging. With help from an advisor, they were able to leverage trade secrets that even the current third generation owners didn’t really understand to get a sky-high valuation for the company. Michael Richmond [https://businessexitstories.com/wp-content/uploads/2022/04/Michael-Richmond.jpg]Michael Richmond The DAK Group Rochelle Park, New Jersey Visit Website [http://businessexitstories.com/analytics/click.php?id=mike_richmond] Send E-mail [ mrichmond@dakgroup.com?subject=Business%20Exit%20Stories%20Podcast%20Referral] [//businessexitstories.com/wp-content/plugins/matomo/app/matomo.php?idsite=1&rec=1&url=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&action_name=Part%20Two%20%26%238211%3B%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%26%238217%3Bt%20Know%20Why%20Their%20Company%20Was%20Valuable&urlref=https%3A%2F%2Fbusinessexitstories.com%2Ffeed%2F] [https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/email?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/sms?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] [https://www.addtoany.com/add_to/reddit?linkurl=https%3A%2F%2Fbusinessexitstories.com%2F2022%2F05%2F16%2Fwhat-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable%2F&linkname=Part%20Two%20%E2%80%93%20Michael%20Richmond%3A%20What%20Happens%20When%20the%20Owners%20of%20a%20Company%20Don%E2%80%99t%20Know%20Why%20Their%20Company%20Was%20Valuable] The post Part Two – Michael Richmond: What Happens When the Owners of a Company Don’t Know Why Their Company Was Valuable [https://businessexitstories.com/2022/05/16/what-happens-when-the-owners-of-a-company-do-know-why-their-company-was-valuable/] appeared first on Business Exit Stories [https://businessexitstories.com].