Why Millennials should Buy a Business to Grow their Wealth Fast | Josh Tolley on The Sales Podcast
The Sales Podcast
In this conversation, Wes interviews Josh Tolley, an experienced entrepreneur and author. They discuss the misconceptions of buying and selling businesses, the importance of critical thinking and logical deduction, and the challenges of having rational discussions. Josh shares his journey as an entrepreneur and the value of creativity and thinking outside the box. He also explains the process of buying profitable businesses and the scalability of managing multiple businesses. The conversation highlights the importance of selling businesses at the right time and the table...
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Facebook Ads in Four Hours Per Week, Eric Saar on The Sales Podcast
The Sales Podcast
Eric Saar, the Facebook ad guru, discusses his expertise in Facebook advertising and his company, Slingshot Media Consulting. He explains the importance of setting the right foundation before shooting for success, just like a slingshot. Saar focuses on Facebook and Instagram ads, also known as Meta ads. He discusses the impact of Apple's changes on Facebook's ability to track users and the importance of understanding analytics and metrics. Saar emphasizes the need for nuance and expertise in Facebook advertising and warns against agencies that overpromise and underdeliver. In this...
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Get Booked to Speak, Air Force Veteran and TedX Professional Speaker, Sean Douglas
The Sales Podcast
Summary In this podcast interview, Sean Douglas, a former Air Force member turned speaker and coach, shares his journey from the military to becoming a professional speaker. He discusses his background in the Air Force, including his experience as a drill instructor and his involvement in the resilience program. Sean explains how he transitioned into speaking and the process of getting booked for TEDx talks. He also highlights the benefits of giving a TEDx talk and shares insights on balancing speaking engagements and coaching. He emphasizes the importance of building contacts and gaining...
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How To Start Over and Crush Your Goals | Angela Duncan
The Sales Podcast
https://blog.thesaleswhisperer.com/p/p/angela-duncan-empower-your-money In this conversation, Wes and Angela Duncan discuss various topics related to real estate investing and entrepreneurship. Angela shares her experience in the real estate industry, including owning a successful Remax office and selling over $2 billion in real estate. She also talks about her transition from real estate to starting an insurance company and eventually pivoting back to real estate investing. Angela provides insights into the current real estate market and emphasizes the importance of...
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If You Don't Train Your Sales Leaders, You Can't Blame Them: Alan Versteeg
The Sales Podcast
Alan Versteeg discusses the importance of training sales managers and the challenges they face in transitioning from salesperson to manager. He emphasizes the need for nurturing healthy pipeline, dealing with prima donna salespeople, and building a sales bench. Alan also highlights the importance of changing mindsets in sales and the role of coaching in sales management. He stresses the need for sales managers to unlock the potential of their teams and the importance of selling with a noble purpose. Alan concludes by emphasizing the need for investment in sales managers and their...
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How to Reach Decision-Makers and Close Them Today, With Adam Rosen
The Sales Podcast
Adam Rosen, founder of an email outreach company, discusses the evolution of cold email and the impact of recent changes in the industry. He explains how the Squarespace acquisition of Google domains affected bounce rates and forced companies to adapt their cold email strategies. Rosen emphasizes the importance of quality in cold email marketing and addresses the perception of cold email as spam. He also provides insights into choosing the right cold email tool and shares success stories of reaching high-profile executives through cold email outreach. Additionally, Rosen discusses the...
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Know Your Numbers to Grow Your Numbers, With Kari Poppleton
The Sales Podcast
Kari Poppleton is a sales/marketing/business/revenue data detective! In this episode, we discuss the importance of knowing your numbers to grow your sales and grow your business. Kari helps CEOs and CMOs track and analyze the right data the right way. We discuss the resistance many professional salespeople, sales managers, business owners, and entrepreneurs have towards numbers and how to overcome that due to the need and the value of continuous monitoring and analysis. We get into tracking your marketing efforts, understanding attribution and marketing channels, and the role of a data...
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How To Recognize and Seize Opportunities To Grow, With Senders CEO, Benny Rubin
The Sales Podcast
CEO Benny Rubin, was playing music, living in Japan, and was hit with the entrepreneurial bug. Learn how he priced his first offering, how he sold his first business, and how he has scaled his current business to create a comfortable living. https://www.TheSalesWhisperer.com/p/benny-rubin-sales-podcast Market like you mean it. Now go sell something. SUBSCRIBE to sell more, faster, at higher margins, with less stress, and more fun! https://www.youtube.com/@TheSalesWhispererWes ----- Connect with me: Twitter -- https://twitter.com/saleswhisperer TikTok --...
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Morra Aarons-Mele, The Anxious Achiever, Is On The Sales Podcast
The Sales Podcast
Professional Sales Tips you’ll learn today on The Sales Podcast… Manage anxiety to still excel in business and in life. Anxious, depressed, and burnt out. Fight, flight, or freeze. Social media is a tool designed to manipulate us. She was a sensitive kid…hyper-vigilant. She has had anxiety and depression since she was 19. Bipolar as well. There was no hybrid job force back then. She had to become an entrepreneur to cope with her anxiety and depression. Related episodes and posts Start Your Free Anxiety can drive us to perform. Stress is put on...
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B.S.ers Are SOL in Copywriter Jeff Putnam's World
The Sales Podcast
Professional Sales Tips you'll learn today on ... Listen to Jeff Putnam’s first interview on The Sales Podcast, , back on June 23, 2021, and see the change he’s made Deep down, he always wanted to be a writer He did a project as a kid on Ernest Hemingway and saw a picture of him smoking a cigar and hunting a shark with a machine gun that lit a fire In December 2018, he got the idea for Rugged Legacy and launched it in early 2019 He didn’t want to work for anyone else He had to learn copywriting so his business wouldn’t die Then, he started teaching people how to do it ...
info_outlineEntrepreneurial Tips you'll learn today on The Sales Podcast...
- He used to focus on the money
- Now he focuses on how many people he can help
- Now he makes more money
- Self-employed since 1997
- Was a media buyer back then
We present good information and let people make a decision."
- In 2005 he launched his first online business
- Came out the other end tired and woke up and just decided to sell his business
- His advisor told him to hold on for another six months because the market was turning around in his opinion
- He put together some SOPs and sold in 2010, took a year off, and joined the Quiet Light Brokerage then (a team of two)
- Last year they did $250 million in transactions
- Grown 55% a year on average the last four years
- They represent the sellers
- They don't "sell."
- Considers himself an educator
- When you're desperate you can't give it away
- He was a typical entrepreneur
- He ran his business and got sick of it and wanted to move onto the next venture, but he wasn't prepared for it
- Most entrepreneurs don't have accounting in place
- Most entrepreneurs don't have accrual accounting
- He didn't outsource his accounting
- Outsource your e-commerce accounting
- Set a goal to sell and reverse engineer your business
- You need to know your exit goal in dollars to know if it's a pipedream or a reality
- Buyers are looking for four things
- Risk
- Is it a single-channel vs. multi-channel?
- Is it a young business?
- Buy a bigger business with more history
- Growth
- Transferability
- Documentation
- Risk
- Gets 300-400 leads a month
- The valuation call is free
- Buying with an SBA loan is fantastic
- But SBA loans are tough for online businesses since they might be too young or they co-mingled their finances
- You need to qualify as a business and a buyer for an SBA loan
- E-Commerce Lending in Florida is a great SBA broker/lender
- His median transaction size was $1.8 million and 90% were all-cash
- SBA deals are usually more stable and more likely to close, but they take longer
- It's emotional
- It's hard to find a buy-side broker
- He has to help the buyer as much as the seller
- He creates a detailed P&L
- He asks all of the tough questions upfront
- There are lots of reasons to sell a business
- Entrepreneurs get shiny-object syndrome and want to move on
- In the vast majority of businesses, the bulk of the money is made when the business is sold, i.e., when Elon Musk or Jeff Bezos "sold" by going public
- Most people don't take a lot of money out in the early years
- In 2021, about 30% of buyers were FBA Aggregators—Fulfilled By Amazon
- This is new in the last five years, Thrace.io is the biggest
- The other 70% are private equity firms (20%) and smaller entities buying for themselves (50%)
- "Acquisition Entrepreneurship" - "Buy Then Build"
- You should like what you're doing
- There will be tough periods so it helps to have a passion
- Training and Transition period
- Hold back 20% to keep the seller around
- 2013 he closed 23 transactions that were sold by what he'd call kids today
- We're in a different world now
- People know what an online business is today
- Transaction size has grown 10-fold
- 3.7 offers per listing
- But it's not as crazy as real estate
- Younger businesses are growing quickly
- This is not a passive investment
- You're buying a job
- Most transactions are done remotely, without meeting in person
- He does best when he focuses on one thing
- His one thing is M&A, so he doesn't mess with crypto
See Cryptocurrency-Related Posts
- J. Hunter: Crypto Gaming
- Nik Bahtia: Layered Money author
- Erik Voorhees: Bitcoin Explained
- He has never had his entire team of 15 in one place
- He has never met his business partner's spouse in the decade they've been partners
- The book is a playbook for the seller
- If you're buying an online business, get his book and, "Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game"
Sales Growth Tools Mentioned In The Sales Podcast
- Get a free download of "The EXITPreneur's Playbook"
- Get his book, "The EXITPreneur's Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success"