July 14, 2022 by Daran Wastchak
#028 Freedom to Exit - Guest Interview with Lisa Riley
In this episode, host Daran Wastchak will be joined by special guest Lisa Riley of Delta Business Advisors.
Daran talks often about the highest level of freedom for small business owner’s in terms of “freedom to exit”.
In a recent article, "Achieving Your Freedom to Exit", he explained that there are two primary options for “exiting” your business, either close the doors and walk away, or sell the business.
In this episode, Daran is going to explore more closely the option of selling, and include the input and thoughts of a real expert on the process of selling a business.
Enjoy the show and don't forget to...
Stay focused on your freedom!
- [04:33] Different ways you can exit your business.
- [07:42] Multiples and the owner's discretionary income.
- [12:59] The type of businesses that are selling the most right now.
- [18:28] The sales process of a product business versus a service business.
- [20:34] The most important things for a small business owner to have in place when considering a sale.
- [32:03] What's an earn out clause?
Links mentioned in this episode:
- Lisa Riley:
- Daran’s article, “Achieving Your Freedom to Exit”
- Take the “Personal Freedom Survey” and I'll share with you what other small business owners have said about how free they are.
- “Four Levels of Freedom” for small business owners
- Take the “Four Levels of Freedom” Survey and I'll share with you what other small business owners have said their level of freedom is.
- Join my email list!