Payback Time2 Apr 2024

S5E3 - The 5 Key steps for selling your business With Darryl Bates-Brownsword

This episode is sponsored by ⁠Sessions⁠. More than just a Zoom alternative, Sessions is like having a personal assistant for all your meetings. It provides meeting notes, makes it easy to share documents and screens, distills key points for quick overviews, and makes it easy for everyone to work on one board. ⁠Save 20% by signing up⁠. Did you know that 80% of business deals fall through? In other words, 80% of business owners who try to sell their business, do NOT have a successful exit. Are you a business owner looking to sell your business someday? If the answer is YES, then It's essential to start preparing for your exit well in advance to ensure a smooth transition and maximize the value of your business. By following a structured approach and focusing on key areas, you can increase the attractiveness of your business to potential buyers and ensure a smooth transition when the time comes to exit.

In this episode of the Payback Time podcast, show host Sean Tepper sits down with a mechanical engineering and management consultant who has a passion for helping small and mid-size business owners successfully sell their businesses. Darryl Bates-Brownsword the founder of Succession Plus explores the steps you can take to get your business exit-ready, with a focus on strategic planning, systemizing processes, and building value for potential buyers.

Key Timecodes

(00:59) - Show intro and background history
(04:22) - Some lessons learned on his journey
(07:30) - Deeper into his background history and business model
(09:37) - Understanding his business strategies
(11:53) - Why business owners fail
(17:21) - Deeper into his business tactics
(21:21) - Understanding his business selling strategies
(32:09) - A key takeaway from the guest
(39:22) - Guest contacts

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