10 Ways to Improve Your Top Line Revenue
Business Lunch
Could you use some freakishly effective marketing hacks that are easy to use and have been proven to work? We thought so. On today’s episode, host Roland Frasier shares 10 simple ways you can make more money on the products and services you’re selling just by making a few small tweaks. Want a sneak peek? Hack #2: friendly forms. “Friendly forms boost conversion,” Roland says. “Don’t ask for too much information. At the very beginning, keep your forms lean and simple, and watch your conversions go up.” And Hack #6: use UGC (user-generated content) photos to bump...
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Dealing with Business Breakups and Failed Partnerships
Business Lunch
You can’t always avoid a business breakup, but if you set things up right at the beginning, you can part on good terms. On today’s episode—“The Business Breakup Special”—co-hosts Roland Frasier and Ryan Deiss have a candid conversation about partnerships gone bad. They share two real-life examples that happened recently—one where they got broken up with and one where they did the breaking up. You can’t let the fear of failure keep you from partnering with other people, Roland says. “Things aren’t always going to work out, and that's okay. If you’re not trying...
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10 Ways You Can Pivot Your Business
Business Lunch
How could you leverage a pivot in your business to make more money, get yourself out of a challenge, or move toward a better opportunity? On today’s episode, host Roland Frasier shares 10 major pivots you might want to consider for your business in the near future. What are some different directions you could take your business that could be more profitable or achieve some other objective? Maybe you want to be more environmentally conscious or build a better culture. Maybe you want more sales, at the expense of profits, because you want to grow your business now and worry about...
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4 Steps to Acquiring Businesses with Zero Cash Out of Pocket
Business Lunch
No cash out of pocket deals aren’t the same thing as no money down, and they can be win-win deals for both the buyer and seller. On today’s episode, host Roland Frasier talks about how to think like an investor. Some people think there’s always a loser when you do a deal, but Roland doesn’t agree. He has a philosophy of collaboration and what he calls a fairness zone. He believes it’s possible for both parties to walk away with a situation and a deal they’re happy with. In a no money down deal, the seller leaves the closing with nothing to show for it. With no cash...
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Dealing with Negative Criticism and Haters
Business Lunch
When you put yourself out there online, the haters are going to find you. How do you keep them from getting under your skin? In today’s episode, host Roland Frasier shares honestly about some recent critical feedback he’s received on his paid ads online. If this were constructive criticism, that would be one thing. But some of it has been hateful and hurtful comments—about his intelligence, his motives, and even his facial features. There’s never success without criticism. Roland encourages you to understand that this hate has nothing to do with you and everything to do with the...
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Marcus Lemonis on Capitalism, Community, and Camping
Business Lunch
Get up close and deeply personal with one of the most brilliant entrepreneurs on the planet in this no-holds-barred interview. Today’s episode is a conversation Roland Frasier had with Marcus Lemonis, CEO of and host of the hit TV show, , at in November 2021. Marcus is known for looking at the 3 Ps—people, product, and process—when he’s evaluating a business to invest in. Of those 3 Ps, he says people are by far the most important. In this chat, Marcus gets real and vulnerable, opening up about his social anxiety, his childhood wounds, his biggest regrets in life, and how...
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Why You Need to Stop Trading Time for Money
Business Lunch
You can’t build true wealth until you get out of the trap of giving away your time for money—no matter how much money it is. On today’s episode, Ed O’Keefe interviews Roland Frasier about one of Roland’s favorite topics—consulting for equity. He has even started a new business to help experts and consultants get out of that dollars-for-hours trap. As Roland sees it, there are a lot of ways you can be compensated for something. He explains those ways in five levels that build on each other. Based on years of experience, he knows that one of the absolute best ways to create...
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The Different Ways to Value Your Company | Mergers and Acquisitions Advice
Business Lunch
“What is my company worth?” That’s a big question with a lot of answers. In today’s episode, host Roland Frasier walks us through a few different ways to value your company. Last time he checked, there were 432 different ways to do this. Don’t worry. He’s only going to share a handful—and he’ll tell you which one he thinks is easiest (and he uses most often). It can be overwhelming when you consider book value, market value, intangible assets, goodwill, and acronyms like IRR, SDE, EBITDA, and ROI. Thankfully, Roland is really great at breaking down difficult...
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The Ultimate Marketing Engine with John Jantsch
Business Lunch
The Ultimate Marketing Engine with John Jantsch Tactics and strategies are not the same thing, and only one of them is an effective long-term plan for getting your customer to where they want to go. In this episode, host Roland Frasier sits down with John Jantsch, Founder of and the author of the book by the same name. Duct Tape Marketing is one of those books Roland believes everybody should read. It’s in his all-time Top 5 and “fantastic.” John recently released a new book called The Ultimate Marketing Engine, and it’s filled with actual strategies (not tactics)...
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Consulting for Equity: How to Double Your Consulting Fee
Business Lunch
Would you like to get paid your normal rates but also an additional amount in equity? Today’s episode is a little bit different, because it’s taken from a coaching call Roland Frasier did with a Consulting for Equity Mastermind. The Mastermind is a group he started to help consultants get equity in the companies they’re working with while also getting paid their normal rate. Listen in as he walks someone through how they can get their normal consulting fee of $75k but also get an additional $125k in equity. Getting What You’re Worth He’s talking to...
info_outlineAcquiring and selling businesses is one way to live a rich and happy life, but how do you convince someone to sell you their company?
In today’s episode, Roland Frasier walks us through some important questions to ask when buying a business. This is Part 2 in a series (be sure to check out Part 1!) where he’ll be sharing some of his extensive knowledge and acquisition experience as well as tactical strategies you can go out and implement right away. Acquiring businesses is Roland’s specialty. He’s actually written an entire book on it.
Listen in as he talks about the two questions he asks the target company’s owner as he’s starting the conversion about acquiring the company.
Question #1 to Ask the Owner
Roland says a lot of people create more friction than is necessary at the beginning. They jump in and say, “Hey, do you want to sell your company?” When you’re ready to talk to the owner of the company you want to acquire, hopefully you’ve determined your acquisition criteria and the profitability level you want. But “Hey, do you want to sell your company?” is a walls-up question.
If you’re going in cold, you might get this common angry response: “Who told you our company was for sale?”
The question Roland likes to ask instead is more investment-related. “Hey, I’m an investor. I’m looking for a company in [specific area] that sells [specific industry] and makes [x level of sales]. Would you be interested in having a conversation about the possibility of investment or working together?”
Coming in as an investor is very non-threatening, because almost all businesses need investors and capital. You want to be coming from a place of authenticity, so get clear on what an investment means to you. An investment doesn’t have to mean you have a pool of cash available. You can have other resources and assets to bring to the table.
If they say yes, another mistake people make is asking for a financial statement or tax returns. Don’t ask for that upfront. You don’t want them talking to their accountant or attorney and getting their walls up again, before you even know if you want to buy the company.
Instead, just say, “That’s fantastic. I have a few questions to see if we’d work well together. I’d love to know some basic numbers. Could we meet now, or do you need a few days to gather that information?”
Question #2 to Ask the Owner
This brings us to the next question: “Can you tell me the story of the company?” This one helps build rapport. You’ll get the long-form narrative response about the history of the company and how it has evolved. Take notes here, because they’re giving you priceless information. And it’s so much less threatening to them.
While they’re telling you this history, find places you can build rapport with them because you have commonalities of experience. Find common touchpoints that will build trust. Bring them up when they’re done talking.
Then say: “That’s great. So interesting. I love learning more about the company. I’d also love to know more about you and your entrepreneurial journey.” People love to talk about themselves. Find more commonalities. Ask more questions. Build more trust. And you’ll be well on your way to acquiring this company.
Stay tuned for Part 3!
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