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28. Building your business for a profitable exit with Michelle Seiler Tucker

May 13, 2020
3:34 am

Angels, Exits, & Acquisitions Podcast

with Michelle Seiler Tucker

About Michelle Seiler Tucker

In this week’s episode of the Angels, Exits, & Acquisitions podcast Jeff Barnes is joined by Michelle Seiler Tucker. She is the foremost authority on buying, selling, and improving businesses. A certified Merger & Acquisition Master Intermediary (M&AMI), one of only 3 women in the US, she closes 99% of all the offers she writes and specializes in selling businesses worth $2 million and above. She helps businesses improve their revenue streams and get ready for selling at the best value. With her expert counsel, businesses are able to sell for 20-40% above appraised price on average. With over 20 years of experience helping businesses through the process of selling and buying, she is known for her always exceeding client expectations. She is the author of two best bestselling books including Exit Rich, and Sell Your Business for More Than It’s Worth. Through her work, she inspires people to live the American dream and strive towards greater financial freedom and quality of life.

Michelle shares the 6 Ps of growing and selling your business

People

The most important thing for a business is people, the teams that understand the business

Product

Businesses must continue to innovate and market their product.

Processes

Processes must be productive, efficient, and well-documented.

Proprietary

Businesses must build their brand name.

Patrons

Businesses need a loyal customer base that trusts their product or services.

Profits

Businesses need to be operating at the highest profit margin for their industry.

Michelle Seiler Tucker describes the 5 types of buyers

Competitive/ Strategic buyers
Private Equity groups
Sophisticated buyers
First-time buyers
Turnaround specialists

The number 1 mistake that businesses or sellers make

They don’t plan for the exit. Most sellers never think about selling until they have to. When they wait too long to sell, they are forced to sell at low value because their business is declining.