Welcome back to Brave and Boss the Podcast! If you’ve ever wondered about what it takes to build businesses that are not only successful but scalable and sellable businesses, then this episode is for you.
Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. As a 20-year veteran in mergers & acquisitions, Michelle and her firm has sold over a thousand companies in almost every vertical. Her passion is to save businesses that might otherwise close.
A master at creating win-win solutions for sellers and buyers, Michelle is also committed to educating those who share her values and dedication. She mentors and trains M&A Advisors in her process, and has helped many succeed in this profession. When she is not helping others live their dreams, Michelle can be found spending quality time with her family.
[00:01] Opening Segment
- A few announcements and upcoming events (links below)
- What to expect in this episode
[06:02] Michelle Seiler Tucker tells us about herself
- As a young girl, Michelle always knew she wanted to be an entrepreneur.
- After excelling in corporate america, working for Xerox, and then getting a Vice President position after a 3 month application process, she realized this avenue was not for her.
[14:16] Why 8 out of 10 Businesses Don’t Exit Rich
- At What stage should a business start thinking about their plan for exiting?
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Your GPS Exit Model
- Think about your destination from the start of the journey
- Work from your current location (Evaluation)
- What is your timeframe?
- Determine who you buyer is going to be
- What is the ‘WHY’?
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Different types of Buyers
- First time buyers
- Turnaround specialists
- PAGs (private equity groups)
- Stategists and competitors
- Sophisticated Entrepreneurs
[22:49] Who Businesses Are Evaluated
-
Who conducts business evaluations?
- Wealth advisors and M&A Advisors
- How does a business owner gauge their EBITA?
[27:50] Sneak Peak Of The 6 P'S To Grow Your Business
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People
- If YOU are the business, your business will be very difficult to sell
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Process
- Good vs. Bad processes
- Designing your processes around the customer experience
[41:29] What’s Next For Michelle?
- Pre Order Exit Rich by visiting Michelle’s website (links below)
[46:06] HOT SEAT Questions
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What’s one non-negotiable step in your morning routine?
- To give gratitude
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If you had an extra thousand dollars in your business today what would you spend it on?
- My employees
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What’s your favorite podcast that you’re listening to right now?
- Exit Rich hosted by Michelle Seiler Tucker
[47:42] Wrapping Up
- Connect with Michelle through the links below
- Final words from Michelle and I
Key Quotes:
“The number one reason that businesses don't sell is because they don't plan their exit.” - Michelle Seiler Tucker
“That’s where most business owners are. They don’t have a destination so they end up lost.” - Michelle Seiler Tucker
“You don’t build a business. You build people and people build the business. You have to have a business that runs without you. If you are the business, your business is going to be very difficult to sell.” - Michelle Seiler Tucker
“If you don't have an assistant, you are the assistant.” Michelle Seiler Tucker
Resources:
- eCommerce Launch Grow Scale summit, free registration link
- Register for QuickBooks Connect Canada
- Exit Rich by Michelle Seiler Tucker
- The E Myth: Why Most Businesses Don't Work and What to Do About It by Michael Gerber
- Traction: Get a Grip on Your Business
Connect with Michelle by visiting her website www.seilertucker.com
Follow Michelle on social:
Pre-order Michelle’s book, Exit Rich → www.exitrichbook.com
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