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3 Critical Steps to Get Right When Selling Your Business

Tyler Tysdal's Videos and Podcasts

Release Date: 10/04/2021

Strategies to Enhance the Value your Company Today show art Strategies to Enhance the Value your Company Today

Tyler Tysdal's Videos and Podcasts

Are You Ready to Consider Selling Your Company by Yourself or Engage a Business Broker to Help? Find out how to prepare your business to sell and how to properly value your company while increasing the value prior to a sale.

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Tyler Tysdal and Robert Hirsch's business brokerage Freedom Factory discuss ways to increase and maximize the value of your company so that you can sell it for the best price on the market.

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Tyler Tysdal's Videos and Podcasts

Three important things to consider when selling your business are when is the right time to sell, how to prepare the business for the sale, and how to find the most accurate valuation of your business. Listen to Robert Hirsch from Freedom Factory talk about these 3 important issues.

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Watch This Video on Youtube

https://youtu.be/9T_LxOKsh_4

Simple Business Valuation Calculator

Let's discuss a small problem we face within our organization that is a business valuation calculator. People are looking at tools and real estate such as Zillow or take a look at Kelly blue book of cars and think "Why don't we have an online business valuation calculator?"

We've seen you doing it for a long time and, in reality, we'd like to. The problem is that it's difficult. There are a few excellent baselines, for example earnings and revenue, and we can discuss guidelines and what they look like. What makes it difficult to achieve is that you can have two businesses with the same revenue, same earnings, but with hugely different amounts. In reality, two, three X one another, and almost not even far apart. This is due to intangibles.

There are a lot of things that go into the business of a company such as intellectual property and defensibility software and more that create an extremely complex issue rather than simply, Hey, what's your income and are you worth five times the amount you're imagining. We're now working on this issue. It's probably too late to discuss the issue, but we're currently working with an incredible business to address this issue and will come up with a solution shortly. In the meantime If you have any concerns regarding how to improve the potential of your company or how much your company is worth, then why don't you contact us by calling Freedom Factory. We're looking forward to talking with you shortly.

How can I prepare my company to be able to sell?

Entrepreneurs are often confused about how to prepare their businesses to sell. If you've made the decision that you'd like to sell your business. What do you do now? First, what you'll need to take care of is get your home ready for your business for selling. Therefore, you should obtain three or two years of tax or tax-related documents.

Also, financials and put them together. Take them to your accountant and have the documents ready for. In the second, if you've never made an operational manual, now is the perfect moment to start. You're aware of how your business is run, and you know how different departments work however, when you decide to decide to sell the business you'll would like ensure that it is as effortless as possible for the transition to the new owner.

This value is likely to be taken into consideration in the price of sale. So , get your operations manual and job descriptions together , and make sure your home is in order. The third step is to discover, well, the right team. Find a reputable appraiser and broker. Determine the value of your business. Create a story and then figure out how we going to get the business to market?

When will we introduce it to the market? It's all about the current tax climate. What can I alter my financials? What do I say by that is straightforward. We're going to use the information from your EBIDTA or your accountant's ability to do similar things and then translate it into the seller's discretionary cash flow. That is.

A fancy way of describing all the money business earns during the process of filing tax returns. It's all about minimization you think? Tax evasion is a crime. Tax avoidance is a smart strategy. It's why you're seeking to be as tax-efficient and pay as low a tax as possible. We have to translate that it's from the non-cash costs you incur such as depreciation certain discretionary expenses and then add it back to increase the value.

Highlight the value your company creates which will have a major impact. Also, do you know which industry you planning to enter? How do we maximize your multiple? And there are methods to achieve this. Think about the field you're working in. Determine, you're aware all your financials.

Make an operational manual to help make the transition as simple as is possible. All of this will be can be a huge help in forming the best team together. Find the most qualified appraisers, locate the right brokers to assist you in preparing your company for selling If you require assistance with this get in touch with us right here, by calling Freedom Factory.

Is it the right moment to sell my company?

This is a crucial issue and when is the best time to sell your company? This is a little more of an art than science. It's basically an assessment of the things you've learned. We're outside. This is my backyard. mountain home and is a part of my favorite place.

The first thing I'm going recommend to you is some fresh air. Leave the workplace. Escape the daily grind or with your family or out. Find a area where you can go, no matter if you like to fish, ski or visit the mountains or visit the beach or whatever else you like, go to a place and change your destination and find a place where you are comfortable.

Then think on your own business. When I think about it, and then consider it in three ways. The first is, am I here and am I in the right place? Are I actually in my business? Are I doing my best to serve my company or is my business serving me? In my opinion, it's too short to live in a place where you are serving your business. Your company is your personal road for more freedom and prosperity.

What I mean by freedom is quite straightforward - it's about doing whatever you like, whenever you desire, and as often as you'd like and with whom you'd like. And if you're enjoying the work you're doing and consider, God, this is amazing and I'm there and I'm in the right place and doing exactly what I'm supposed and that's how I think about selling my businesses to other entrepreneurs This is awesome.

The time is not right to sell your company. If you're unsure about this, I'd consider a bit more and then I'd take a deep breath and ask, Do I possess the correct idea? Have I got a crystal clear idea of where I am going?

I'm planning to expand my business over the next three, perhaps up to five? What can I accomplish to overcome it , and also feel fantastic and feel that I've achieved what I've done? If your company is growing by 40% per an year, or 50 percent per year, then you've probably got an enlightened view. It's likely that you're doing a great job and are probably that you're in the flow. However it's possible that you've grown at 5% over the past five years, then it's slightly more challenging and you can find someone who does it better than you.

When my business is expanding at five percent, I'm planning to sell. I'm thinking, okay, I'm in need of an operator. My style is more of a strategist. How do we concentrate on creating something that's incredible, and you're right on target and focused However, the rate of growth is a good indicator of the fact that.

The last thing to remember is that you've accomplished what you were born to accomplish if, when you started your company, when I began my business brokerage business, i was aware that I wanted to alter the way entrepreneurs purchase and sell their businesses. I've founded three of the biggest brokerages. I've either hired the third one, bought them to attract the right people, and I've created a effective market. This is the thing I wanted to accomplish when I arrived to this place.

However, if you quit your current company and thought about this for a while and then decide to leave, would you feel happy or would you feel as if you weren't able to finish what you were there to complete. Then I re-read the situation and thought I'm okay does my company serve me. Are I focused and clear each day?

Do I have any remaining tasks to do and do I have fresh ideas for implementing that idea? These are the questions that will guide you through it. It's a little bit of an unreliable science, but all in all, it's an exercise in gut-check. Which are your thoughts? Do you think it's the right time to sell your company?

If I'm thinking about selling my business the item, it's usually six months too to be. If you have other questions regarding this, or something else that you need help with, it's our pleasure to assist you us here in the Freedom Factory. We're waiting for you to give us a call.

Contact Freedom Factory

At Freedom Factory®, we have experienced and witnessed the explosive results of entrepreneurs aligning passion and purpose to create extraordinary value. However, most entrepreneurs have no idea how to maximize the value of their business and move on to the next chapter of their lives. That’s where we can help.

Freedom Factory® has radically disrupted the way high-growth, lifestyle companies are bought and sold, which historically was a horribly inefficient market. When I sold my first company in the 1990s, I went to several investment banks and sold my business to one of less than five companies they called. Looking back, I see exactly how much money I left on the table and knew that there had to be a better way. The bottom line is that entrepreneurs don’t speak banker, and bankers sure don’t speak entrepreneur.

https://tylertysdal.academia.edu/

Contact Tyler Tysdal at 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/

Freedom Factory Managing Partners

Tyler Tysdal https://www.linkedin.com/in/tyler-tysdal
Robert Hirsch https://freedomfactory.com/about-robert-hirsch

Who is Tyler Tysdal?

tyler tysdal

Tyler Tysdal is a lifelong entrepreneur who first discovered the joys and challenges of self-employment at the age of 14. Tyler Tysdal was a collector and trader of baseball cards and his budding entrepreneurial spirit spurred him to create Triple T’s Sports Collectibles, a national mail-order trading card and memorabilia business that found a wide audience through ads in trade magazines. While market inefficiencies were numerous in this pre-internet era, a young Tyler Tysdal experienced his first big business win with $14,000 a month of profit result. A lot of money for 14. It hit him during a ride with his mom to the post office to mail dozens of card shipments: He would likely be an entrepreneur and investor the rest of his career.

Additional Websites to Follow Tyler Tysdal

https://soundcloud.com/tylertysdal
https://twitter.com/tysdaltyler
https://www.instagram.com/tyler_tysdal/
https://tylertysdal.com/
https://sites.google.com/view/tylertysdal

Watch Podcasts on Instagram

Additional News Sources:

Colorado Businessman Tyler Tysdal Promotes Business With Instagram Channel - Digital Journal

Denver Business Broker - Sell Your Colorado Business (tylertysdal.org)