Episode 79 & 80: How to Build a Business You Can Sell with Michelle Seiler Tucker
Michelle Seiler Tucker is the Founder and CEO of Seiler Tucker Incorporated. She holds the M&AMI (Mergers & Acquisitions Master Intermediary) title, as well as Certified Mergers and Acquisitions Professional (CM&AP) and Certified Senior Business Analyst (CSBA).
Michelle also owns many other businesses in several different industries. As a 20-year veteran in the M&A industry, she is regarded as the leading authority on buying, selling, fixing, and growing businesses. Her and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success.
Main Topic Notes
Can you tell us a little bit about your background?
If someone is starting a business right now, today, how should they structure it to be sellable?
What are the 6 Ps?
How can you build a business that is sellable?
What are some tips to get the best valuation for your business?
Recap / Takeaways
Take the time to figure out your destination
Figure out where you are now
Get an annual valuation checkup from an M&A expert
Identify who your buyers are (need to have more than one)
6 P's (foundation of business you can sell)
People (the right people in the right places)
Product (always innovate and market your product)
Processes (what do you want your clients to experience? (3 things)
Proprietary (brandingTM, databases, celebrity endorsements, patents, digital positioning, content)
Patrons (80% of revenue comes from 20% of clients)
Profits (a symptom of a problem)