How to Do More Than Just Break Even in Business
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- čas přidán 13. 08. 2023
- Today we’ll hear about:
• The things to keep in mind when deciding if you’re going to sell your business
• The best formula to estimate the value of a business when buying a business
• How a business owner’s salary may be putting the future of his business in jeopardy
• What to pay attention to when you have minimal profit margins and how to turn that around
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I found Dave in debt with a maturity problem at 30yrs old. Fast forward 5 years and we became debt free, quit our jobs, moved states, opened a business, had 3 kids, then another business and will do $1.8M in revenue with $700k in Net profits. Thanks Dave for helping us change our family tree. Also shout out to Donald Miller who you had on, his content changed our business forever!
Wow. Well done
Wow, that's a lot of change for just 5 years. Congrats.
What kind of business?
The first caller speaks for all small business owners with a six figure business. Finding dependable, capable people is incredibly hard.
It’s awesome that you have this podcast. I’m so thankful to be a business owner and an Entreleader. Four days ago our newest employee gave her first Sales Huddle: ‘When I first met you and got that interview at AWC, I noticed your positive attitude and your willingness to change the whole world in one day.”
Just found this, good stuff for me to apply.
Great show guys
Love your show. Thank you!
Can you share the delegation read Dave was talking about? I'm looking to hire my first employee by the end of the year!
It’s for sale on their website.
Good content 👌
I think Dave you gave good advice to the consulting lady but was a little un sensitive with recommending a new hire, having worked in consulting, hiring in consulting is very very selective due to the nature of handling very sensitive client data, finding someone reliant and loyal is very very difficult
"revenue-variable you can't control and have zero impact on" - sounds like the weather and farming/livestock
Great stuff. Question: so for a small business the valuation (before any associated real estate) is 4x(the net profit+what owner is getting paid-minus what a replacement person would cost)? And is that multiple ever 3 or 3.5X?
The entire Oracle ad had no sound.
There's no reason that you need to replace your computer equipment every year... You could definitely get away with a solid 5 years especially if you're buying the latest and greatest at the time of purchase.
The physical therapy business needs to learn how to sell and onboard paying customers, If no one wants to pay out-of-pocket and insurance coverage is terrible they need to start selling at a lower rate and higher volume to be more attractive to the everyday customer it's not that hard my head is hurting
How is going into debt via owner financing any different than any other kind of debt? I
Editor: the commercial after the 1st segment doesn't have sound
No sound on add
23:03
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You can't get rich selling to broke people