And Tom Hannon recently wrote in with some thoughts that we really haven’t addressed before.
We’ve talked a lot about the mechanics of exiting businesses lately, but what happens when you don’t have a choice? What happens when you are forced to sell?
As we started talking with Tom, we discovered that he has actually sold twelve businesses he was involved in, including three major ones, and the circumstances of each of those sales were unique.
So, we invited Tom onto today’s podcast to share those stories, as well as the lessons that he’s learned along the way.
Listen to this week’s show and learn:
- How Tom’s first business partnership started breaking down. (5:43)
- What Tom learned when he went to work for a larger, international publishing company. (14:58)
- Why Tom felt like the only way to solve his problems was to sell his company. (20:57)
- What Tom is working on now and how he envisions his future. (28:13)
- The three things that Tom believes everyone should think about before they sell their business. (37:26)
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
- Dynamite Jobs
- Tom Hannon
- Entrepreneur on Fire
- Coldwell Banker
- The Peter Principle
This week’s sponsor:
This week’s episode is brought to you by Weebly. Don’t let the lack of a big budget or technology skills get in the way of having not only a beautiful website, but a powerful one. If you’ve got a product idea and you want to share it with the world, check out Weebly.com. As a special offer to listeners of this show, you can visit Weebly.com/TMBA to get 15% off your first purchase.
Enjoyed this podcast? Check out these:
- TMBA 303: 7 Things To Consider When Selling Your Business
- TMBA 431: We Wrote a Book
- TMBA 432: Finish Big – A Conversation with Bo Burlingham
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- Have comments about the show, or ideas for things you’d like Dan and Ian to discuss on future episodes? Our producer Jane would love to hear from you at [email protected]
Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian