Business Exit Stories

07/02/2022

If you decide to follow the steps outlined in this report, you will have started implementing a process, Marvin L. Storm call it the Enterprise Value Creation System (EVC). This report gets you started on thinking about how to create enterprise value.

To organize these enterprise value creation concepts into a system that can easily be remembered for implementation, I use the acronym of PARACHUTE. Each letter in parachute represents an element of the EVC System.

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20/01/2022

How Skillfully Crafting A Story Regarding Your Exit Can Turn Your Biggest Loss Into The Reason Why A Business Is Sold

A medical research company was founded by research PhDs and had a highly complex business model that relied on highly paid professionals which performed and managed the medical research. While the business generated millions in revenues, the cost of the highly paid staff produced an EBITA in the low six figures.

Listen to the Episode:

A medical research company was founded by research PhDs and had a highly complex business model that relied on highly paid professionals which performed and managed the medical research. While the business generated millions in revenues, the cost of the highly paid staff produced an EBITA in the low...

31/12/2021

How to Make a $28M Highly Profitable Company Worth Nothing and Unsaleable in One Easy Step

A highly profitable business services company that has five highly qualified partners in the business handling the key functions of the company. These partners were committed to the business and worked 70-80 hours per week for years. Yet even though this company was highly profitable, it turned out to be unsellable.

A $35M tortilla company with millions in profits company that couldn’t be sold due to critical strategic mistakes that the entrepreneur made.

The wrong attorney nearly crashed a deal and only when the attorney was fired, did the deal close.

How having the right advisor that positions the company properly generated ten offers with the competition for the deal heating up, causing the offering price to escalate and the terms get better for the seller. |

Guest
Gerald Kong
Trinity Transaction Advisory, LLC
Dallas, Texas

Listen to the Episode: https://businessexitstories.com/2021/06/21/how-to-make-a-28m-highly-profitable-company-worth-nothing-and-unsaleable-in-one-easy-step/

DOWNLOAD free copy of How to Double the Amount of Money You Put into Your Pocket When You Sell Your Business: https://businessexitstories.com/double

Please be sure to visit Marvin's site at https://marvinlstorm.com/

30/12/2021

How Seller Financing Can Save Deals in Uncertain Times and Reap Sellers Millions

This episode is being recorded shortly after the Covid – 19 worldwide shut down of businesses in the US and countries around the world.

Deals that couldn’t have been closed without a keen understanding of how to properly use owner financing in structuring the transaction that benefited both buyer and seller. Why businesses need to use this type of financing because of how businesses sometimes stumble before being positioned for sale.

How sellers need to be opened minded on how to structure deals that may have never happen if there is not a willingness to consider creative deal structuring which can reap sellers millions in the sale of their business.

Guest
Matt Coletta
M&A Business Advisors
California & Nevada

Listen to the Episode: https://bit.ly/32BrAhs

DOWNLOAD free copy of How to Double the Amount of Money You Put into Your Pocket When You Sell Your Business: https://bit.ly/3EF3zms

Please be sure to visit Marvin's site at https://bit.ly/3FHTSFc

29/12/2021

People Get Funny When It Comes To Money

An entrepreneur in a service sector identified a need where the sales, operations, and finance departments of his clients always seemed to be relatively inefficient. He conceptualized a customized solution that could revolutionize the service and hospitality industry. Little did he realize how perfectly his company would be positioned when COVID hit.

A young husband and wife team launched a business in the asbestos abatement industry, and again they benefited from have a business that was COVID resistant. Yet, they made crucial mistake.

A business owner that thought his landlord, and close personal friend, would renew his lease like he had multiple times over a 25-year period. Only to find out that money makes people, even close friends, do the unexpected.

A business that ran a tight ship and was organized which is unusual in the construction industry, because contractors are notorious for less than perfect operational, HR, and financial record keeping. When it came time to sell, right in the middle of Covid, the deal went smoothly when many other deals were struggling to get done.

Jay Offerdahl
Viking Mergers & Acquisitions

Listen to the Episode: https://businessexitstories.com/2021/03/01/jay-offerdahl/

Please be sure to visit Marvin's site at https://marvinlstorm.com/

Also DOWNLOAD free copy of How to Double the Amount of Money You Put into Your Pocket When You Sell Your Business: https://businessexitstories.com/double

Get a copy of Marvin's book Pack Your Parachute: https://packyourparachutenow.com/

28/12/2021

Why Certain Types Of Buyers Will Pay More Money For The Same Business

An ecommerce business that was two businesses in one and how the lack of understanding and accounting of inter-company transfers not only nearly derailed a deal but almost cratered the entire business. The importance of having a CFO, either a fractional one or full-time one, and how this can make the difference between a successful company and an exit or a failed company and a botched exit.

The sellers of a business felt that their business was worth a lot more than the financials showed. Different types of buyers will pay different prices for the same business and how the bank really sets the price if the deal is going to be financed.

Entrepreneurs that have a service-based business often fail to realize that when selling a business what they are selling is primarily goodwill because the assets are only a small fraction of what the business is valued at. A buyer is really buying the cashflow that is produced by the employees, management, and systems that are in place vs. the trucks, tools, and equipment.

A seller folded to a company that was willing to overpay for the business because they wanted the skill set of the owner. They offered him a sweetheart deal and his dream job to oversee their entire business.

Richard Gadberry
Murphy Business & Financial Corporation

Listen to the Episode: https://businessexitstories.com/2021/12/27/why-certain-types-of-buyers-will-pay-more-money-for-the-same-business

Please be sure to visit Marvin's site at https://marvinlstorm.com/

Also DOWNLOAD free copy of How to Double the Amount of Money You Put into Your Pocket When You Sell Your Business: https://businessexitstories.com/double

Get a copy of Marvin's book Pack Your Parachute: https://packyourparachutenow.com/

27/12/2021

On this episode of the DailyBrag I sat down with Marvin Storm, host of the Business Exit Stories podcast. Marvin comes from a family of business owners, his father was a mechanic who owned a shop, and Marvin would spend time at the shop during the summer where he would help his dad and watch him manage the business.

After graduating college, Marvin went to work for a large national CPA firm , while working at the firm, he would go after work to play basketball, it was during this time that Marvin met the person that would become his business partner. After resigning, Marvin and his partner started with a 300 sqft office with two desk facing each other and a telephone. Marvin and his partner built up the business and eventually sold it after 10 years.

Listen to the Episode: https://podcasts.apple.com/us/podcast/thedailybrag/id1586692962?i=1000544118932

Marvin's mission is to help entrepreneurs develop their business exit strategy through his

Business Exit Stories podcast. Marvin shares some great advice throughout this episode on how to sell your business and the steps in doing so. He states at the end that "you're probably not going to live forever, and that means you're not going to run your business forever. And so if that's the case, then you should start thinking about how you're going to get out of it and who's going to be buying it. It's either going to be someone you know, someone you don't know or you're going to close it up and wind it down. Those are the only three choices. If those are the three choices, you should figure out which one is best for you."

Please be sure to visit Marvin's site at https://marvinlstorm.com/

Also DOWNLOAD free copy of How to Double the Amount of Money You Put into Your Pocket When You Sell Your Business: https://businessexitstories.com/double

Get a copy of Marvin's book Pack Your Parachute: https://packyourparachutenow.com/

25/12/2021

How a Competitor’s Business Card Dramatically Increased the Value of an Acquisition

A business card in a shirt pocket that was visible to others, helped dramatically increase the value of a deal when one of the buyer’s realized that their major competitor was bidding on their deal. Within 24 hours after they realized this, an offer was submitted that was substantially higher than anticipated.

Watch the Interview: https://www.youtube.com/watch?v=LMDyXfx6LiU&t=123s

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STRATEGIES FOR SUCCESSFUL AND PROFITABLE BUSINESS EXITS
by MARVIN L. STORM

Get the Free Report: https://businessexitstories.com/double

21/12/2021

FREE REPORT:
How to Double the Amount of Money
You Put into Your Pocket When You Sell Your Business
Get Your Report Now!

https://businessexitstories.com/get-your-free-report5/

20/12/2021

How Doing the Right Things Turned a $20M Sale into a $40M Sale

An orthopedic footwear manufacturer was able to weather a series of unexpected events, failed closings, and a complete shutdown during the pandemic to successfully exit the business.

A seller went from a DIY mode to engaging a professional advisor to facilitate their exit and this decision made the founder an additional $20M in the process, which was nearly double the initial exit value in the DIY transaction.

A pet insurance company was able to make a strategic decision early in the acquisition process that allowed them to entertain other offers allowing them to substantially increase their exit value and in a fraction of the time.

How rolling a portion of equity into an acquiring entity of a new company that operates your company after the transaction closes enables entrepreneurs to substantially increase their total exit value. In this example, a 1X investment into the new company ended up returning a 10X return in a few short years.

Michael Butler & Joshua Curtis
Footprint Capital
Columbus, Ohio



Listen to the Episode: https://businessexitstories.com/2021/11/15/how-doing-the-right-things-turned-a-20m-sale-into-a-40m-sale/

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FREE REPORT:
How to Double the Amount of Money
You Put into Your Pocket When You Sell Your Business
Get Your Report Now!: https://businessexitstories.com/double/

20/12/2021

Why You Shouldn’t Buy a $400,000 Ferrari Before Your Business is Sold

The owner of two large fitness centers had built up a large membership and the businesses was valued at nearly three million dollars. The owner was proud because he had started the business on a shoestring. After nearly two decades of hard work and long hours, the business was positioned well within the community and was offered for sale.

After working with a specialist in the fitness industry that helped entrepreneurs get the businesses ready for sale to create interest from interested buyers, when the business was offered for sale, several qualified buyers made offers. After accepting one of the offers and the normal back and forth of on the terms of the deal and providing all the information for the buyer and banker that would finance the deal, a target date to close the deal was set.


Continue to read: https://bxadvisors.com/case-studies/why-you-shouldnt-buy-a-400000-ferrari-before-your-business-is-sold/

19/12/2021

Many entrepreneurs after decades and sometimes a lifetime, of hardwork the time inevitably arrives.

When it's time to sell their business and cash in on their hardwork.

Yet statistically those who prepare in advance to sell their business can double the amount of money that goes into their bank account when they sell their business.

There are THREE Tactics that can double the amount of money you put in your pocket when you sell your business.

FIRST, think like a buyer and position your business to meet a buyer's needs not yours.

Secondly, don't wait until the last minute to position your business for sale.

And finally, understanding tax consequences and how to minimize or eliminate capital gain taxes when selling.

Doing these three things can double the amount of money you put in your pocket when selling your business.

Is It Magic?

None of the strategies and techniques included in this report, or in the Pack Your Parachute book, are by themselves unique or mysterious, but when effectively executed in unison, this is when the magic happens. It’s similar to how yeast works in the bread making process. Yeast serves as a multiplier because it facilitates a complex interaction between flour and water that gives bread its texture, denseness, and taste qualities.

In summary, my forthcoming book Pack Your Parachute –How to Double the Amount of Money You Put in Your Pocket When You Sell Your Business has a step-by-step process you can follow together with real-life case studies that are drawn from my decades of experience in helping entrepreneur get into and out of a business as well as actual case studies taken from my podcast called Business Exit Stories. You can subscribe to the podcast on Apple Podcast, Stitcher, Google Play or wherever you get your podcast from.

GET THE FREE REPORT:
https://businessexitstories.com/double