In researching the topic,they were shocked to find that there were so few people writing stories about the experience of selling businesses. The majority of books were simply focused on trying to get a fair price for your business.
Today’s guest is Bo Burlingham. Bo is the author of several books, including one called Finish Big, which Dan and Ian both wish they would have read before selling their own business. Bo is also a journalist, with over 30 years of experience as a writer and editor at Inc. Magazine.
In today’s episode, Bo shares his stories about interviewing entrepreneurs who have exited their businesses and explains why he believes that there is much more to the process of selling than a simple monetary transaction.
Listen to this week’s show and learn:
- Why you have to consider exiting a business as a phase rather than an event. (4:46)
- How Bo discovered that so many people had regrets about selling their businesses. (11:40)
- Why a successful exit is about the transition rather than the transaction. (18:09)
- The questions you can ask yourself early on that will help prepare you for an exit. (27:35)
- What Bo hopes that other entrepreneurs will take away from his stories. (53:17)
Mentioned in the episode:
- Before the Exit – Our New Book
- TMBA Masterminds
- Sponsor the TMBA Podcast
- The Dynamite Circle
- The DC Podcast
- Help Us Choose a New Name for the TropicalMBA Podcast
- DC BKK
- Bo Burlingham
- Finish Big by Bo Burlingham
- Small Giants by Bo Burlingham
- The Great Game of Business by Bo Burlingham and Jack Stack
- Inc. Magazine
- How to Get Rich by Felix Dennis
- Norm Brodsky
- Evolve USA
- Stephen Covey
- Cadence Blades
- Gary Erickson
- Clif Bar
- Jack Altschuler
- Fidelity Investments
This week’s sponsor:
This week’s episode is brought to you by Bean Ninjas. Most bookkeeping professionals think an Amazon product is rainforest lumber. The Bean Ninjas is a bookkeeping service that specializes in online businesses. The Bean Ninjas are offering a one-hour road mapping session to help clarify where your finances are and what your next steps should be. As a very special offer to listeners of this show, you can get access to that session at a fraction of the regular cost.
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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian