Optimizing Your Business Valuation—Expert Insights
On this episode of The Author Factor Podcast, Optimizing Your Business Valuation—Expert Insights, I am joined by Nate Lind, a business broker who specializes in selling internet, technology, and e-commerce businesses. Nate recently published a book called Maximum Exit, and in this episode, we talked about his book, his approach to selling businesses, and what it takes to be successful in the business world.
Nate Lind is a fascinating guy, and he has a lot of valuable insights into the world of business brokerage. One of the things that stood out to me was his approach to selling businesses. Nate emphasizes the importance of timing when it comes to selling a business, and he stresses the need to prepare for the sale by having a set of books that convey credibility and professionalism to buyers, along with being accurate. Additionally, being likable and courteous during the sales process is critical, as buyers prefer doing business with people they like.
In the episode, Nate also talked about the requirements for a business to be sellable through a marketplace. The business needs to show a net profit of around $250,000 per year for at least 2 years and exhibit growth in profits over time. It is possible for a one-man show or an owner-operated company to be sellable so long as all work is properly outsourced and documented. This was an eye-opener for me! I never realized that even small businesses could be sellable and worth big bucks.
We also discussed Nate's book, Maximum Exit, which he wrote to educate his clients and potential buyers on the process of making themselves attractive to buyers. The book serves two purposes: educating clients and attracting potential buyers. Nate has found that using a book is an effective way to attract cold leads, and he has gotten results from people who found it on Amazon and scheduled a call with him. He shares with us his challenges in writing the book due to his dyslexia and how he used erasable pens to overcome them.
Finally, Nate shares with us his thoughts on what it takes to be successful in the business world, including the importance of understanding your customers and competitors, focusing on profitability, and building a track record to attract buyers and get a higher valuation for your business.
Nate has a wealth of knowledge and experience in the world of business brokerage, and he shared some valuable insights that any entrepreneur can benefit from. So, if you're thinking of selling your business or writing a book to attract more clients, be sure to check out this episode of the Author Factor podcast!
Get all the details here: https://authorfactor.com/nate-lind