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Selling Your Business Yourself, with Dr. Grace Yum

Financially Simple Bizcast

Release Date: 11/15/2021

The Legalities of Selling Your Business: Series Wrap Up show art The Legalities of Selling Your Business: Series Wrap Up

Financially Simple Bizcast

If you’re thinking of selling your business in the near future, or even much further down the line, knowing the legal issues that can arise and being prepared for those eventualities will be a boon when the time comes. In this episode, Justin summarises the last few episodes covering the legal aspects of selling a business, and asked the question: are you ready?

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The Legalities of Selling Your Business, with Mital Patel show art The Legalities of Selling Your Business, with Mital Patel

Financially Simple Bizcast

With the “do-it-yourself” attitude of most business owners, some of the important complex and difficult legal issues that crop up when selling a business can be overlooked or even ignored. In this episode, Justin and Mital go over the purchase agreement, and consider the important fundamentals that need to be addressed in the document so that both the buyer and seller, and even third parties involved, are not liable for preventable issues.

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Selling Your Business Yourself, with Dr. Grace Yum show art Selling Your Business Yourself, with Dr. Grace Yum

Financially Simple Bizcast

Taking the reins and selling your business by yourself can be challenging, and immensely rewarding, especially if you’ve taken the right steps to understand the process and your desired outcomes. In this episode, Justin and Grace discuss the events of her starting, building, and eventually selling her dental practices on her own.

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Investment Banking and Business Transition, with James Pugh show art Investment Banking and Business Transition, with James Pugh

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Whether transitioning or planning the next step of growing your business, having the financing in place to support the move is vital. In this episode, Justin and James look go over the role of investment bankers in increasing the value of your business to building your capital stack, and reducing risk.

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The Business Process: Transitioning, Selling, and Buying, with Matteo Valles show art The Business Process: Transitioning, Selling, and Buying, with Matteo Valles

Financially Simple Bizcast

Having a Broker on your side when it comes to selling your business might seem unnecessary, but the value that they can add in helping value the business, assisting getting prepared for sale, and with the sale itself far outweighs any costs. In this episode, Justin and Matteo look at the transaction process from both the seller and buyer’s point of view, and give some insight into the complexities of the undertaking.

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Estate Planning, with Julie Eisenhower show art Estate Planning, with Julie Eisenhower

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Estate Planning is essential for every business owner, having a legal document in place in case the unexpected happens to you or if you are the principle beneficiary of another business owner. In this episode, Justin and Julie go over the differences between Estate Planning for a business owner and a non-business owner, considerations of inheriting a business, co-mingling and giving someone the power of attorney on your behalf.

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Introduction to Legal: Is Now the Right Time to Sell Your Business? show art Introduction to Legal: Is Now the Right Time to Sell Your Business?

Financially Simple Bizcast

Is now the right time to sell your business? Have you planned everything out, prepared your employees and team? Have you considered what happens after? In this episode, Justin introduces the series of episodes that will answer these questions and more, with up coming interviews with professionals and business owners that have gone through the process.

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Social Media for Business Owners show art Social Media for Business Owners

Financially Simple Bizcast

There are a number of different social media platforms each catering to a different age group and or mindset. In this episode, Justin goes over each platform in turn, considering the main user group and demographics of the platforms as well as the form of media used on each, and how to leverage this data to better target your ideal customer.

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Social Media & Digital Marketing Misconceptions show art Social Media & Digital Marketing Misconceptions

Financially Simple Bizcast

Social Media platforms have grown in number and popularity in the last few years, becoming powerful tools for businesses that are able to leverage the opportunities the platforms afford. In this episode, Justin looks at reasons why business owners can be hesitant to utilize Social Media, and explains why they shouldn’t.

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5 Trends to Make Your Marketing More Effective show art 5 Trends to Make Your Marketing More Effective

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In recent years we’ve seen the business landscape change as new technology and innovation disrupts how we do business. In this episode, Justin goes over five marketing trends that have become instrumental in modern business strategies.

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More Episodes

In episode 385 of Financially Simple, Justin talks to Dr. Grace Yum about selling her dental practices by herself.

Taking the reins and selling your business by yourself can be challenging, and immensely rewarding, especially if you’ve taken the right steps to understand the process and your desired outcomes. In this episode, Justin and Grace discuss the events of her starting, building, and eventually selling her dental practices on her own.

Don’t forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!

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TIME INDEX:

00:42 - Selling Your Business Yourself, with Dr. Grace Yum

03:46 - Backstory: Education, Experience, Development

09:30 - Exiting

12:04 - Seeking Guidance

13:38 - Leaving a Legacy

15:57 - Doing it Yourself

19:27 - The Buyer

21:16 - The Process

23:25 - Crossing the Finish Line

25:40 - The Next Step

31:01 - Recommend Reading

31:50 - A Nugget of Wisdom

32:54 - Summary

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USEFUL LINKS:

Work with Our Team

Dr. Grace Yum, LinkedIn

Mommy Dentists in Business

Selling Your Practice: The Essential Guide to Successfully out of Dentistry, by Dr. David Phelps

The Energy Bus, by Jon Gordon

Financially Simple on YouTube

Advance Child Tax Credit Payments in 2021

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NEW Book: Your Baby’s Ugly - Maximize the Value of Your Business NOW or You Will Have Nothing to Sell Later

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BIO:

Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. To learn more about our credentials and awards, please visit https://heritageinvestor.com/awards-certifications/. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.