How to Sell Your Business w/ Michelle Seiler Tucker | Video Episode 59

September 28, 2021

When you’re at the blackjack table and you’re up, do you bank those profits or do you keep betting? If you’re smart, you’ll know when to cash out. The same is true for selling your business. 80% of businesses fail to ever sell their business. For the 20% who do succeed, it takes a lot of planning. Learn how to sell your business and everything you need to know to do it successfully in this video episode.

On this week’s episode of CFO Weekly, Michelle Seiler Tucker (Founder & CEO of Seiler Tucker Inc.) shares, among other things, the 6 Ps of selling your business.

  1. People People are the biggest asset in every organization. Entrepreneurs need to be focusing on hiring the right people and putting them in the right seats.

  2. Product Why did Toys R Us or Blockbuster go under? Because they stopped innovating. Don’t stop making your product better.

  3. Processes Most people only focus on processes when something goes wrong. You don't need a process for when the wheels come off. You need a process to stop them from coming off in the first place.

  4. Proprietary The highest value driver, this one is going to get you the highest multiple of EBITDA possible.

  5. Patrons Your customers are the fuel of your business. Don’t ignore them.

  6. Profits If the other 5 Ps are dialed in, you can’t help but be profitable. If profits are struggling, it’s likely because one of the 5 Ps are out of sync.

Interested in selling your business and want to hear more from Michelle? Visit our blog.

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