841: Sell Your Online Business: Engineer Your Way to Success with Joe Valley

Most people start an online business because they want the opportunity, autonomy, and money that comes with being an entrepreneur, but they typically find that they're stuck on a hamster wheel and can't get off. It's a different kind of issue for individuals trying to exit their business, and they don't know where to begin and have no notion how much their company is genuinely worth.

Joe Valley is the co-owner of Quiet Light Brokerage, an online M&A advisory firm. He has bought and sold a half dozen of his own companies and is the author of the best-selling book "The Exit Printers Playbook." Today, Joe discusses planning your business exit early, understanding the true value of your business, and maximizing the sale price through strategic accounting and financial management. He shares insightful stories of entrepreneurs who successfully sold their online businesses, highlighting the key factors that contributed to their success.

Quotes

“True wealth is built by selling a business, rather than by building and operating it on a daily basis.” - Joe Valley

“Your business is likely your most valuable asset, so why in the world would you go it alone?” - Joe Valley

“If you're going to set an exit goal in dollars, you need to know what the current value is, so you know how close or far you are from that.” - Joe Valley

Takeaways

01:31 Focusing on both writing a book to share expertise and running an M&A advisory firm can be an effective dual-track approach for an entrepreneur.

04:40 Planning your business exit early is crucial to maximizing the sale value.

12:45 Understanding the true value of your business, including proper accounting and financial management, is key to getting the best deal.

22:24 Seeking guidance from experienced advisors can help entrepreneurs avoid common mistakes and achieve their exit goals.

25:50 Treating your business as a separate entity, rather than just a source of personal income, can lead to greater long-term success.

Resources

Podcast: Play in new window | Download (Duration: 30:02 — 41.4MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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