loader from loading.io

Big Mistakes Sellers Make Before Selling Your Business

Freedom Factory's Podcast

Release Date: 05/18/2020

Is There a Simple Business Valuation Calculator show art Is There a Simple Business Valuation Calculator

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Is There a Simple Business Valuation Calculator". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
How Can I Live My Best Life by Selling My Business show art How Can I Live My Best Life by Selling My Business

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How Can I Live My Best Life by Selling My Business". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
Big Mistakes Sellers Make Before Selling Your Business show art Big Mistakes Sellers Make Before Selling Your Business

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Big Mistakes Sellers Make Before Selling Your Business". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
The Art and Science of Selling Your Business show art The Art and Science of Selling Your Business

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "The Art and Science of Selling Your Business". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
How Does Recasting My Financials Affect the Value of My Business show art How Does Recasting My Financials Affect the Value of My Business

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How Does Recasting My Financials Affect the Value of My Business". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
Strategy to Sell My Business if I am in Vistage show art Strategy to Sell My Business if I am in Vistage

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Strategy to Sell My Business if I am in Vistage". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
How to Buy a Business When You Dont Have the Cash show art How to Buy a Business When You Dont Have the Cash

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How to Buy a Business When You Don't Have the Cash". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
What Are the Types of Business Buyers show art What Are the Types of Business Buyers

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "What Are the Types of Business Buyers". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
When Should I Tell Employees if I am Thinking About Selling show art When Should I Tell Employees if I am Thinking About Selling

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "When Should I Tell Employees if I am Thinking About Selling". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
Strategy to Sell My Business if I am in Tiger 21 show art Strategy to Sell My Business if I am in Tiger 21

Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Strategy to Sell My Business if I am in Tiger 21". Listen to the podcast or watch the video here https://vimeopro.com/freedomfactory/business-brokers/video/389990100

info_outline
 
More Episodes

Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "Big Mistakes Sellers Make Before Selling Your Business."

 

Listen to the podcast, watch the video, or read the transcript below.

Additional Videos From Freedom Factory

How to Buy a Business When You Don't Have the Cash

What Are the Types of Business Buyers?

 

Transcript of Podcast

Robert Hirsch business broker from Freedom Factory

Hey guys! Robert from Freedom Factory here, and I want to talk about something that comes up a lot when we start working with new sellers, and usually it sounds something like this, should I start a new revenue stream? Should I add a new channel? Should I build an affiliate program before I sell? And while this sounds like a good idea on the surface, in reality, not so much. And the reason for that is twofold. One, when you start a new revenue stream, it's going to burn as inefficiently as possible. And what I mean by that is your customer acquisition cost is going to be the highest and you're not going to add significantly to your bottom line.

Now, most of the time when you sell your business, it's a multiple of earnings. So you want to optimize for earnings. And so let's say for example you could build a new revenue stream, but you're not actually adding a lot of profits. Conversely, you could spend that same time taking your existing revenue stream and for example, let's say you can find an extra $200,000 in profitability through cost cutting on that.

Now that $200,000 in earnings, not only did you make that the first time, but if you sell for five times earnings, that's going to be another million dollars in revenue, or another million dollars in valuation to your business. And ultimately it's these little tips and tricks that make the difference whether you stick the landing or not, you're a business you've worked for years on, and it's the most important asset that you have.

And frankly, sticking the landing is just as important as building and creating a great company. If you have questions about this or anything else, why don't you give us a call it Freedom Factory. We look forward to speaking with you soon.

 

Thank you so much for watching. Please like and subscribe and we'll see you soon.

 

Contact Freedom Factory

Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver

Also, Follow Freedom Factory here 

Best Business Brokers - video portfolio

Follow us on Twitter

Find us on Facebook.com

Connect on Linkedin

Youtube Channel

Available on Youtube:

Managing Partners

Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.

About Tyler Tysdal