Summary notes:
In this conversation, Alison and Phillip discuss how to exit a business. They mention three common ways to do so: selling it to a third party, doing a merger and acquisition, or selling it to a family member. They also discuss what one should consider when selling their business, such as making it as automated as possible, taking advantage of chat AI and other technology, building a great team, and having systems in place to ensure that clients will stay on once they buy the business. They also recommend that one should start thinking about their exit plan when they start their business, and not wait until a year and a half before they want to sell.
Timestamps
0:01:32 Exploring Business Exit Strategies: Questions to Ask Yourself
0:03:12 Planning Your Business Exit Strategy
0:07:57 Reimagining a Business for Efficiency and Time Savings
0:09:56 Planning for the Future: Forewarned is Forearmed
Powered by ReiffMartin CPA and Phillip Washington, Jr.
https://www.reiffmartincpa.com/
https://stonehillwealthmanagement.com/
Real Estate: The math around buying and selling AirBNBs
Wealth Mindset: ”Am I letting my family down because I can’t provide them the lifestyle they want right now?”
Financial Planning: ”How much money should I put in my emergency fund?”
Business: A Brief Study of the History of Smoothie King
Innovation: Artificial Intelligence and Web 3.0 will open up more career opportunities
Investing: Is a 401(k) a good source of financial security?
Wealth Mindset: Giving out of desire instead of obligation
Business: Apple, Inc. in the Tim Cook Era
Innovation: Making money growing vegetables in your home
Real Estate: Real estate as a currency alternative
Investing: How Money Thinks
Investing: The History of Currencies
Business: The Maturity and Decline Phase of Apple, Inc.
Innovation: Renewable energy in the future of manufacturing
Real Estate: The Gift and the Curse of Gentrification
Wealth Mindset: How to change your relationship with money
Investing: The basic building blocks of an economy
Business: The Growth Phase of Apple, Inc.
Innovation: A Deep Dive into 3D Printing
Real Estate: ”Interest rate hikes” for home buyers with good credit
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast