If you’re thinking about positioning your business for an eventual exit, then this episode is for you! Since COVID, we hear more and more conversations about, “Is this the right time to exit my business? How do I know if I’m ready? What’s the first step?” Well, today’s guest, Marvin Storm, has the answers to these questions. In fact, he believes you should start thinking about your exit long before you’re ready to sell.
Over the course of four decades, Marvin has founded, acquired, scaled, and exited multiple businesses. After exiting his last business, he founded and became the managing director of BxAdvisors. The mission of this company is to assist business owners in maximizing their business value by turning their hard work and dreams into reality via strategically planned exits. Marvin is also the host of Business Exit Stories, a podcast where he interviews merger and acquisition advisors, investment bankers, business brokers, wealth managers, and other transactional professionals to really share and reveal the good, bad, and ugly reality of exiting a business.
Tuning in today, you’ll hear what Marvin learned from his experiences of exiting businesses, some of the things that entrepreneurs should be thinking about long before they plan their exits, and the four types of buyers and how to position your business for them. To find out how you can double the amount of money that you put in your pocket when you’re ready to sell your business, tune in today!
What you’ll learn about in this episode:
- What inspired Marvin Storm to leverage his experience to found BxAdvisors.
- What he learned from his first experience of exiting a business.
- How he came up with the idea for his podcast.
- Why so many businesses fail to position themselves in advance for an exit.
- How people’s thinking around exiting a business has changed since COVID.
- How Marvin’s company helps people increase the exit value of their businesses.
- Some things that entrepreneurs should be thinking about long before they plan their exit.
- The four types of buyers and how to position your business for the most buyers.
- The importance of positioning your business to be able to verify what it is doing financially.
- Some of the mistakes that business owners make when preparing to exit.
- How Marvin’s company helps businesses prepare for the type of buyer they want.
- How to get Marvin’s free report on how to double the amount of money you put into your pocket when you sell your business.
- What people should be looking for in an expert to help them navigate a business exit.
- Marvin’s book: Pack Your Parachute, coming out next year.