Understanding Your Business's True Value (with Patrick Lange)

All too often, business owners go to sell their business and find that the value wasn't what they were expecting. Sometimes that's a positive thing, and it's often a negative.

This week on P&L, Patrick Lange joined me to discuss business valuations, why you need them before you even think about selling a business, and the emotions that are often tied to that number. We talk about what owners need to expect when selling their business, why it's important to be realistic about what it's worth, and the transition process that happens when businesses are passed down to children.

Tune in this week on P&L to learn your business's true value.

Contact Patrick at (850) 669-2498

"You should get paid today for what you've built, what you've built in the past. When you sell, you should get paid for future performance." - Patrick Lange

This week on Priorities Lifestyle:

• Why You Should Get Your Valuation Before You Think About Selling

• Navigating Emotional Transitions in M&A Deals

• Understanding Your Business's True Value

• Embracing New Beginnings After Selling Your Business

• What Your Business Looks Like Post-Sale

Our Favorite Quotes:

• "I consistently preach that if you own a company, you should get a valuation done and know what your business is really worth." - Patrick Lange

• "You know, we are human beings and the emotional part of it is absolutely real." - Rob Schulz

• "Some people who have a business that's worth a million dollars, they'll say, if I can get above $150,000, I take it. I have others with a business that's worth a million dollars, and they tell me they're not going to leave for less than 10 million." - Patrick Lange

About Rob Schulz and P&L Priorities & LIfestyle Podcast

The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.

Email Rob at rob.schulz@schulzwealth.com with questions and comments, or to schedule a one-on-one conversation.

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*You're listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.