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.

Get this FREE REPORT by Marvin L. Storm, Exit Strategist:
https://businessexitstories.com/double

How to Double the Amount of Money You Put Into Your Pocket When You Sell Your Business Get Your Report Now! Please leave this field empty GET YOUR FREE REPORT We don’t spam! Read our privacy policy for more info. Check your inbox or spam folder to confirm your subscription. Is It Magic? None of [....

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: https://businessexitstories.com/2022/01/10/how-skillfully-crafting-a-story-regarding-your-exit-can-turn-your-biggest-issue-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...

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/

----------------------

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

19/12/2021

If you don't do the thinking and the planning, it's unlikely you will exit successfully. Some people get lucky. The timing works in their favor, being in the right place at the right time. But the probability is that this is a rare and exceptional situation.


PACK YOUR PARACHUTE
STRATEGIES FOR SUCCESSFUL AND PROFITABLE BUSINESS EXITS
by MARVIN L. STORM
Learn how these business cases turned successful with powerful strategies.
GET the BOOK: http://packyourparachutenow.com

18/12/2021

How Focusing Too Much on Tax Avoidance Cost One Family Their Inheritance

A founder was so focused on his product and making it the Lamborghini in his market niche that he ignored what the market looks for when acquiring a business. While he was able to make his product really powerful, this didn’t do him a lot of good because what was important to him wasn’t necessarily what buyers were looking for in his type of business.

An entrepreneur too focused on tax avoidance and deferral costs more money than saved in taxes.

Two founders increased the value of their business over $16M in net proceeds simply because they asked for advice and then they followed that advice.

Three partners that were at different ages and over time their goals and objectives changed, but were still able to resolve this and get what they needed when selling the business.



Listen the Episode: https://businessexitstories.com/2020/11/02/how-focusing-too-much-on-tax-avoidance-cost-one-family-their-inheritance

16/12/2021

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

Get the Free Report: https://businessexitstories.com/get-free-report-6/

How to Double the Amount of MoneyYou Put into Your Pocket When You Sell Your Business Get Your Report Now! Please leave this field empty GET YOUR FREE REPORT We don’t spam! Read our privacy policy for more info. Check your inbox or spam folder to confirm your subscription. Pack Your Parachute When...

15/12/2021

How an Entrepreneur’s Ego Took a Deal from $30M to $1.2M

A founder of an oil rig manufacturing business started meeting with a buyer on his own and his M&A Advisor cautioned him not to negotiate any of the agreed upon terms. He was also told to follow the plan that had been developed on when to share the sale with his employees. Find out what happened when the owner chose to ignore this advice.

A company that had 65% of their business come from one customer even though it was a large multi-national company, and how this nearly cratered the deal but was eventually salvaged.

A business worth $30M ended up being sold for a piddly $1.2M due to a few critical mistakes.

How finding the right buyer and the right seller can be a match made in heaven and how a catastrophe was avoided when the time was taken to make the right match.

Listen to the Episode: https://businessexitstories.com/2021/12/13/how-an-entrepreneurs-ego-took-a-deal-from-30m-to-1-2m/

14/12/2021

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

Get the Free Report: https://businessexitstories.com/get-free-report-6/

13/12/2021

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

Get the Report: https://businessexitstories.com/get-free-report-6/

10/12/2021

How to Start a Business to Succeed and Winning Business Exits Guest Marvin L. Storm (EA – Ep 8)
__________
Entrepreneurs Ascending – Hosted by Matt Barbey

Part 1 – Whether you already have a business or you are thinking about starting one, there are some critical fundamentals to consider for faster success. From ideation, to your business plan, to the grand opening, and beyond, we will share some of the most critical steps in this episode, so don’t miss out!

Part 2 – Exiting a business is easy, but exiting it profitably is the real trick. Join author and fellow podcaster Marvin Storm as we discuss how to set yourself up to win big when it’s time to exit your business. For more information, check out Marvin’s book Pack Your Parachute – How to Double the Amount of Money You Put in Your Pocket When You Sell Your Business and his podcast Business Exit Stories.

Entrepreneurs Ascending is broadcast live Wednesdays at 9 AM Central Time.

Entrepreneurs Ascending TV Show is viewed on Talk 4 TV.

Entrepreneurs Ascending Radio Show is broadcast on W4CY Radio part of Talk 4 Radio on the Talk 4 Media Network.

Entrepreneurs Ascending Podcast is also available on Talk 4 Podcasting, iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.



https://www.youtube.com/watch?v=uwM80dJvFZw&feature=youtu.be

How to Start a Business to Succeed and Winning Business Exits Guest Marvin L. Storm (EA – Ep 8)__________Entrepreneurs Ascending – Hosted by Matt Barbey Part...

09/12/2021

How One Business Covid-Proofed His Business Before Covid-19 Hit

A commercial sign company that had two main types of customers. One customer segment was in the tradeshow, convention, and event market vertical. The other was for companies that needed exterior signs for their buildings and locations. A co-founder had 44% of the business, and an angel investor was a silent partner for 5% that provided the capital for the startup of the business. The client had 51% of the business and still didn’t have control or the final say when and how to sell the business.

A pharmaceutical company with two 50/50 partners. One partner was mid-career and the other at the end of his career. The difference in life stages made a huge difference when it came to their exit.

A business established in 1877 was sold when there was no viable successor because none of the four kids of the current generation were involved in the business, and even during Covid with the tons of economic uncertainty the buyer moved forward with the purchase in May of 2020 at the peak of the Covid shutdown with no contingencies, all cash, and a short escrow.

An entrepreneur took care of his four kids, when only one could run the business but the other three worked in the business and was able to treat them all equitably. He provided for his wife who had no business sense and no ability to budget or control her spending habits and yet owned 100% of the business when he unexpectedly passed away.

exit

Listen to the Podcast: https://businessexitstories.com/2020/09/21/how-one-business-covid-proofed-his-business-before-covid-19-hit/

08/12/2021

Why Every Business Owner Needs to Have Exit Strategies w/ Marvin Storm



Listen to the Episode: https://podcasts.bcast.fm/e/q80m6lxn

08/12/2021

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.

How Covid has altered how deals are getting done and how smart sellers are stepping back and realizing that it is a different day today and that deals can still get done if you can work through deal structures that are tailored for both buyers and sellers.

How smaller companies can add huge strategy value to larger companies with their value proposition and why it’s important to understand what value you bring to the table because this understanding can dramatically increase your company’s value.

Why it’s important for sellers to realize what they do well and not so well and if what they don’t do well can be done better by someone else, it may be time to sell.

Listen to the Episode: https://businessexitstories.com/2021/05/10/how-a-competitors-business-card-dramatically-increased-the-value-of-an-acquisition/

07/12/2021

How Valuing A Company’s IP And A Strategic Buyer Turned A $50M Valuation Into A $200M Sale.

A minority shareholder who had his own agenda attempted to sideline a deal that was ready to be closed.
A seller was able to protect himself from the decrease in the acquiring company’s stock price.

A chance meeting at an industry conference took a business from a highly commoditized business into becoming a specialty player that grew the value of the business ten times and was eventually sold well into the 8 figures.

A pharmaceutical company was assisted in properly valuing the company’s intellectual property and leveraged strategic buyers interested in that IP to turn a $50M valuation into a $200M sale.


Listen to the Episode: https://lnkd.in/gE3J4s_X

07/12/2021

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/report/

04/12/2021

FREE REPORT
How to Double the Amount of Money
You Put into Your Pocket When You Sell Your Business



https://businessexitstories.com/report

03/12/2021

Not Providing Full Disclosure Will Cost You Money

Bonds and Jones Landscaping was founded by neighbors. They became good friends and decided to go into business together. They were both working in corporate American at the time and had a complimentary set of skills. John Bond was an operationally oriented and Edgar Jones was a sales executive. They started from scratch their commercial landscaping business and from the get-go they had decided to provide an executive level service to their clients beginning with their name. Bonds and Jones sounded more like a law firm than a landscaping company.

READ: https://bxadvisors.com/case-studies/not-providing-full-disclosure-will-cost-you-money/

02/12/2021

How To Sell Your Company For Less Money But End Up Putting More Cash In Your Pocket
A profitable HVAC company decided to explore selling their business because COVID had escalated valuations in the HVAC sector since more people were staying home and needed more heating and air services. Shortly after deciding to sell, a Private Equity Group approached the company and began their acquisition and due diligence. Financial buyers like a Private Equity Group have key aspects they look for when acquiring smaller companies.

A client makes an assumption that turned out to be dead wrong. Not following some basic steps could be the worst mistake during the sale of your business.

How millions and millions of additional value can be created by simply recruiting the right advisors to be on your team.

Often entrepreneurs only think about taxes after their deals close. Learn why this is an awful strategy and with a pinch of planning you can substantially improve your net after tax returns.

Listen to the Episode: https://businessexitstories.com/2021/11/29/how-to-sell-your-company-for-less-money-but-end-up-putting-with-more-cash-in-your-pocket/

01/12/2021

How can a business owner prepare for a successful business exit? 📓

Our guest, Marvin L. Storm, CFE, the Host of The Business Exit Stories Podcast, gives insights into why some entrepreneurs may forcefully need to exit their businesses and how to get well-prepared for that.

For more tips, check out the complete episode - link in the comments! 👇👇👇



Listen to the episode: https://podcasts.apple.com/us/podcast/why-every-business-owner-needs-to-have-exit-strategies/id1511978445?i=1000543485346

30/11/2021

Nov 29th episode of The Round Table Talk Show with Sharifah Hardie

Today's guests are:

1.) Chris Voss - The Chris Voss Show
Forbes Top 50 recognized, CEO/Host of The Chris Voss Show, Author, Consultant, Speaker, Youtuber, Coach, Many Awards, Audience over 300,000 on Social Media. 35+ Year Serial Entrepreneur.
Find more information about Chris at: http://thechrisvossshow.com/

2.)Wil "Wize" Otero - Real Wize Production
Widowed at age 31 spent many years being self-destructive. Now remarried and have turned her life around.
Find more information about Wil at: https://realwizeproductions.com/

3.) Shannon Dominguez - Building Beloved Communities
Shannon Dominguez is a working, single mom and business consultant who is passionate about helping others be their best selves.
Find more information about Shannon at: https://buildingbelovedcommunities.com/

4.) Marvin L Storm - Business Exit Stories
Exiting companies, expert witness, author, podcaster, speaker, and business exit coach.
Find more information about Marvin at: http://www.businessexitstories.com/


5.) Amy Rose Herrick - The Secret Profits
Amy Rose Herrick is "America's Profit Building Specialist" and a #1 Best Selling Author. If it involves money in your business or personal life, Amy is your go-to pro for answers.
Find more information about Amy at: https://www.thesecretprofits.com/

___________
To Be A Guest Visit: https://www.AskSharifah.com
Support The Round Table Talk Show Visit: https://bit.ly/3kks26A

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How to Double the Amount of Money
You Put into Your Pocket When You Sell Your Business

https://businessexitstories.com/report