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SFB059 Outrageously Priced by Design Part 1

| April 18, 2017
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Episode Summary

Paul Adams interviews Kevin Short, the Managing Partner & CEO of Clayton Capital Partners, and the author of Sell Your Business for An Outrageous Price. This is just part one of a two-part interview on Kevin’s process, and how he helps business owners get every last dollar from their hard-earned investment.

For more information visit: kevinshort.sfgwa.com

What Was Covered

  • 03:55 - What does Kevin mean by selling your business at an ‘outrageous’ price? What is his definition of outrageous?
  • 05:20 - For many business owners who sell their business, they find that they can not retire off that money. This is why business owners have to build financial independence from their personal balance sheet; not their work balance sheet.
  • 06:40 - How do business owners cope, when they find out they have no personal balance sheet, just a business balance sheet, and they’re ready to sell?
  • 09:30 - Most of Kevin’s clients, who are entrepreneurs, don’t spend enough time thinking about their retirement. They solely focus on their business.
  • 10:45 - Business owners have a price they’d like to sell for, but rarely is that a price the market will bear. How does Kevin teach entrepreneurs to think a bit differently/realistically?
  • 13:05 - What’s Kevin’s process to selling a business for an outrageous price?
  • 18:50 - How was this concept born? It began when Kevin thought a buyer had paid way too much for a business. Turned out, he hadn’t!
  • 22:35 - There is no pattern to why businesses sell for so much more. This is why Kevin decided to write the book and demystify it.
  • 26:00 - What is Kevin’s screening process to finding a good business that’s ready to sell for an outrageous price?
  • 27:45 - Tune in next week for part 2, where Kevin shares specific examples of what this process looks like.

Tweetables

"[Business owners] go to sell [their business] and there’s just not enough money for them to support their lifestyle."

"Most of our entrepreneurs don’t spend any time worrying about retirement."

"Why do some businesses sell for so much more? There’s no pattern to it."

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