In this episode of Selling the Dream, Doug Howard and Kathi Fleck are joined by Scott Couchenour, a succession planning expert.

Scott shares his personal experience of unplanned and untimely business closure and how it led him to become a partner for business owners planning their exit. He emphasizes the importance of addressing the emotions and challenges that come with selling a business, such as conflict, emotional attachment, retirement anxiety, fear of regret, and loss of identity.

Scott also highlights the need for personal strategic planning, including identifying core values, strengths, and purpose, to create a fulfilling post-business life.

Click HERE to learn more about Scott and Serving Strong Enterprises.

In this episode, business coaches Doug Howard and Kathi Fleck discuss the process of selling a business and the importance of preparing for life after the sale. They emphasize that every business should be considered potentially sellable and that business owners should start thinking about the sale well in advance. They also highlight the need to have a clear vision of what life beyond the business will look like.

Selling the Dream partners with The Value Builder System to provide business owners with accurate, comprehensive valuations of their companies.

Click HERE to get your PREScore.

In this episode, Doug and Kathi discuss the e-book The Rainmaker's Dilemma, which refers to the challenge faced by business owners who are the primary drivers of sales and customer relationships. They explore strategies to overcome this dilemma, such as designing marketing funnels, documenting the sales process, hiring salespeople, limiting complexity, and creating customer testimonials.

They also emphasize the importance of setting up salespeople as experts and never attending meetings alone. The episode concludes with a discussion on offering guarantees to ensure customer satisfaction.

Overall, the episode provides valuable insights for business owners looking to make their companies more sellable.

Click HERE to download your FREE copy of The Rainmaker's Dilemma.

Then CONNECT with Growth Teams for tips on facilitating your business's independence.

On this episode of Selling the Dream, business coaches discuss the difference between business coaching and consulting. They explore the important role a coach can play in preparing your business for sale and strategies for selecting a coach. To connect with a business coach, reach out at www.growthteams.com

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck are joined by Jim Laird of Laird Valuations. They discuss different strategies for maximizing a business’ value and the importance of being proactive when planning the sale of a business. By focusing on financial health, workforce development, and market position, business owners can significantly increase their valuation and improve their chances of a successful sale.

Key Points:

• Proactive Valuation: Getting a business valuation several years before a planned sale can provide valuable insights for improvement.

• Financial Health: Clean financial statements, industry benchmarking and profitability are crucial for a strong valuation.

• Workforce Development: Investing in employee training and development can significantly increase a business's value.

• Market Position: Understanding the competitive landscape and maintaining a strong market position is essential.

• Company Specific Risk: Reducing reliance on key personnel and diversifying customer base can improve valuation.

• Industry Multiples: Valuation multiples vary by industry and company-specific factors.

Jim Laird is a business valuation consultant who specializes in tax-related valuations, medical practice assessments and sale related valuations—spanning industries including manufacturing, truck transportation, healthcare, restaurants and retail, and construction contractors.

Learn more about Laird Valuations: www.lairdvaluations.com

Learn more about preparing your business for sale: www.growthteams.com

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck are joined by Jim Laird, owner of Laird Valuations. Jim is a business valuation consultant who specializes in tax-related valuations, medical practice assessments and sale related valuations—spanning industries including manufacturing, truck transportation, healthcare, restaurants and retail, and construction contractors.

They discuss early planning and preparation for selling a business, emphasizing the importance of accounting, marketing, and HR in business valuation and sale.

Learn more about Laird Valuations here.

Learn more about preparing your business for sale here.

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck discuss the business sales process from the buyer's perspective. Succession planning is crucial for family businesses to ensure a smooth transition from founder to the next generation. This requires the successor to gain a well-rounded understanding of the business through experience in various departments and financial literacy. While negotiation is key, even between family members, involving independent advisors helps guarantee a fair deal for both sides and sets the stage for the business's continued success.

On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck discuss what happens during the transition period of a business sale, specifically when there are unexpected negative changes in the business.

The key takeaways are:

• The business seller should be aware that there can be unexpected negative changes during the transition period, such as a key employee quitting or a big client leaving.
• The seller should have a plan to mitigate these risks, such as by having a strong company culture and employee retention programs.
• The seller should also be prepared to negotiate with the buyer if there are negative changes, but the buyer should also be understanding that these things can happen and willing to work with the seller to find a solution.
• It is important for the seller to continue to run the business as usual during the transition period, even if they are eager to hand things over to the buyer.

Learn more: www.growthteams.com