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About Our Guest:
Michelle is the Founder and CEO of Seiler Tucker Incorporated. Michelle has sold over 500 businesses to date and currently owns and operates several successful businesses.
Michelle Seiler Tucker holds the following professional designations and certifications: The Merger & Acquisition Master Intermediary (M&AMI), Certified Senior Business Analyst (CSBA), Certified Business Broker (CBB), Best-Selling Author, and Panelist for M&A Source.
Connect with Michelle Seiler
On the show today, we have Michelle Seiler Tucker. She is the Founder and CEO of Seiler Tucker Incorporated. She holds the Mergers & Acquisitions Master Intermediary title, as well as Certified Mergers and Acquisitions Professional and Certified Senior Business Analyst (CSBA). As a 20-year veteran in the M&A industry, she is regarded as the leading authority on buying, selling, and growing businesses. She and her firm have sold over a thousand businesses and have a remarkable track record of success. She is featured in INC, Forbes, Entrepreneur Magazine, and USA Magazine. Michelle is an international keynote speaker and makes regular radio and TV appearances.
Michelle talks about her background in mergers and acquisitions plus why she believes that an exit plan should be in place on the first day of owning a business.
We talk about the 6Ps on how to build a sustainable, scalable, and sellable business. Listen in to learn the reasons why some businesses sell and others don’t, plus why you as the owner could be the reason your business isn’t growing.
Pivotal Questions Asked:
- [3:23] Can you tell us how you got into this type of work to begin with?
- [5:31] Talk to us about the reasons why some of the businesses don’t sell and some sell.
- [17:45] Can you walk us through the next piece, which is the 6Ps?
In This Episode You Will Learn:
- [3:29] Michelle talks about her background in buying, fixing, and selling businesses.
- [5:39] Exit Rich- why businesses must continue innovating and marketing or end up complacent like Toys R Us, Blockbuster, Kmart, and Steinmart.
- [8:55] Change your mindset and start planning your exit from day one of buying/ starting a business.
- [13:10] The five types of buyers and how to choose the right one for your business.
- [17:50] How to build a business based on the right people and let go of the control.
- [31:10] How to build your business processes around the customer experience as McDonald’s did.
- [37:37] The power of proprietary assets i.e., branding, trademark, patents, contracts, and synergies as the highest value drivers of your business.
- [42:00] The importance of having a transferability clause on your contracts for the benefit of selling your business.
- [45:35] Patrons- the dangers of customer concentration when it comes to selling your business.
- [47:28] Profits- why you need to focus on the above-mentioned 5Ps to be profitable.
- [49:04] Michelle talks about the contents and concept of her upcoming book Exit Rich.
- “Trying to sell your business during a catastrophic event is the worst time to ever sell your business because you’ll never maximize value.”– Michelle [9:18]
- “Treat your business as the most valuable asset that it is and plan your exit from day one of buying or starting a business.”– Michelle [10:17]
- “You don’t build a business; you build people, and people build a business.”– Michelle [18:22]
- “You sell when your business is in its prime because businesses go through life cycles just like humans.”– Michelle [25:18]
- “The biggest reason why businesses don’t sell is because the data is in the owner’s head and not on paper.”– Michelle [35:45]
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