Freedom Factory's Podcast

Robert Hirsch
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Freedom Factory is the world's best business broker. Learn how to sell your business for maximum value. Find out how to get an accurate business appraisal for when you sell your business, or if you are investing in a new venture.

  1. 04/27/2020

    Dont Make The Single Biggest Mistake When Selling Your Business

    Selling a business seems pretty straightforward – offer your business to prospective buyers, sign the deal, and voila! However, it is not always the case. Many business owners are struggling to sell their business. Finding buyers alone takes time. Some already find buyers, but as they take off, things begin to fall, and they end up going back to square one. In today's episode from Freedom Factory Robert discusses the single biggest mistake entrepreneurs make when selling their business, and how to avoid it. Listen to the podcast or watch the video below Don't Make the Single Biggest Mistake When Selling Your Business. Read the Transcript Below Hi again. Robert Hirsch here from Freedom Factory, talk to you today about the single biggest mistake that I see sellers make when selling their business. Now, In business you know there's simple and there's complex. And I think we all know the Einstein quote about, you know, any fool can make it more complex, It takes a real genius to make it simple. and I want to And when we go to sell our business, the one thing that I always tell the sellers is simplify, simplify, simplify. We don't get points in business for degree of difficulty. This isn't the triple Lindy. And if we're not getting judged by the Russian judge this is really simple. And so when you look at your business and you're presenting it to buyers, we want to make it as approachable as possible. So many businesses develop their own lingo, their own slang. It's very difficult to understand. Well, at company X, we call it blank. And I said, well, why don't we call it what the industry calls it? They said, no, Robert. I'm not sure if you understand our business is different than the 99 other businesses that are similar to ours and so on and so on, et cetera. So when you're looking at your business, what I want you to do is look at it from the outside in and pretend you're explaining it to your teenage, your teenage son or daughter, and explain it in terms so that they can understand it. Because if they can understand it, the buyers are going to understand it, and that's going to be reflected in the valuation. Remember, simplify, simplify, simplify. And if you need any help with it, just give us a call at Freedom Factory and we'll go through anything you want to. Thanks for watching. Please hit like and subscribe and we'll see you soon. Freedom Factory is the world's best business broker helping entrepreneurs sell their business for maximum value. Contact Freedom Factory for more information. Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://vimeo.com/freedomfactory https://www.linkedin.com/company/freedomfactory   Additional Videos from Freedom Factory What Type of Contract Structure Do I Need to Sell My Business How to Prepare My Business to Sell What is the Most Undervalued Asset Class

  2. 04/27/2020

    How Do I Sell My Business?

    Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses how to sell your business, a common question asked by business owners, to business brokers. Listen to the podcast, watch the video, or read the transcript below. How do I sell my business? Additional Videos From Freedom Factory When is the Right Time to Sell My Business? How are Brokers Different from Investment Bankers? Transcript - How Do I Sell My Business? Hi, Robert Hirsch from Freedom Factory here. And one of the questions that we get most often is, how do I sell my business? A lot of entrepreneurs, they ask this question. And I remember the first time I sold my business, I sold that through an investment banker in New York. And I learned this really important lesson. Bankers don't speak entrepreneur and entrepreneurs ure don't speak banker. This was a different type of guy. He just wanted me to grow it  and the way he sold it, and I'm not 100% sure, I think he called five or 10 guys that he went into business school with and his list of usual buyers., and he sold it to them. When I look back at it, I realized, I sold it way under what I could've sold it for, and I left a lot of money on the table. If I went back to do it again, that certainly isn't the way I would do it. So anyway, long story short, fast forward here and I've started three of the largest brokerages. I've hosted a TV show on  A&E and history on selling businesses, and all I do is help entrepreneurs sell their business. The number one thing that really drives the sales price is deal tension. Right? And so there's a couple of ways to think of it. One, you want to get as many interested parties as you can before you get into the LOI phase or the letter of intent phase. Two, you want to get them to raise their hand at the same time, right? So if you have, if you have two buyers at the same time, they're going to be competing for your business and there's only one, and ultimately that's going to drive up the value for you and your business and your family. If you have two buyers at different times, that doesn't affect it at all, right? It doesn't give you, you know, the deal tension. If you have one guy or gal that wants to buy your business and you have another one three months later, that doesn't help you. So how do you run a process and how do you get buyers to fit to your timeline as opposed to you trying to fit to their timeline? That's what an exceptional broker will do. They're going to create deal tension. They're going to get people interested. I'll give you an example. One of the things that we do is when we do a a month where we do questions and answers before we give any management meetings with the entrepreneur and what that does, let’s say a buyer sends in six questions and we send back 92 responses. They say, well, why'd you send me 92 responses? I only asked six questions. Well, the answer for that is really simple. We want to give everybody the same information to put forth their best letter of intent or LOI, and it also psychologically readjust the buyer's thinking to understand that this is going to be a competitive deal. They're not going to be able to steal your business. And two, there are other people interested and this is a valuable commodity. So our whole process is designed like that all the way through because anybody that's been doing this for any period of time is going to understand that time kills deals. And what we want to do is drive it through. Have the buyers fit to our process and we want to run it as smoothly as we can. And that's why we do 147 day process here at Freedom Factory where most businesses, not all, it depends. Sometimes businesses are more complex or a little bit larger, but we really try and drive it through and 147 days, which is, pretty exceptional, when it can go from agency agreement to getting the biggest check of your life in five months. So anyway, I went in a little bit more detail on that, but specifically, finding the right broker is so critical. One other thing is some brokers are like real estate agents or transaction brokers. They're going to represent both sides. They're going to represent sellers or buyers. At Freedom Factory, all we do is represent sellers. All we do is get the maximum price for the business. We don't represent buyers. We don't take both sides of a deal. We don't recuse ourselves. We just are in the entrepreneur's corner. That's the reason that we get up every day. So a couple of other quick questions on selling your business. How do you find a buyer? And I'll tell you a little bit about what we do. We advertise through 27 different channels online, which is good. We go through all the databases. We find strategic buyers. We do an outbound campaign, and we synchronize that to the inbound campaign. But we also do a marketing campaign for your business. We put together a video, a sizzle reel. We put marketing dollars behind that and we get as many people interested as we can. One other quick question, right? So let's say we go through the process, we create deal tension. We get you an LOI that you're ecstatic with. And ultimately you control the deal. You control whether it makes sense for you or not to sell it. But a lot of entrepreneurs say, how do I know if I'm doing it right? Maybe my contracts and you get into the nitty gritty and the contracts are one of those things that if you haven't seen a lot of them, either a stock purchase agreement or an asset purchase agreement, if you haven't seen a lot of them, there's a lot of little things that can kind of sneak in there that really affect the sales price. And that's why you want an exceptional broker in your corner. That's why you want someone, and again, I'm not an attorney, I see a lot of contracts. We certainly recommend using a transaction attorney, but also we can understand what standard, what's not, what's typical, what's atypical. And we can point that out to you. And as you go through the negotiations, part of it isn't just finding the highest price. Part of it is finding the perfect fit. And what I've found is the more people that are interested, then the more letters of intent you get, then it allows us to define just the right buyer and allows us to find the perfect fit for you. So if we can help you out with this or anything else, please give us a call at Freedom Factory. Please hit like and subscribe. Thanks for watching and we'll see you soon. Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also Follow Freedom Factory here  https://vimeopro.com/freedomfactory/freedom-factory http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://vimeo.com/freedomfactory https://www.linkedin.com/company/freedomfactory https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Available on Youtube

  3. 04/27/2020

    How To Prepare My Business To Sell

    Listen to Robert Hirsch from Freedom Factory talk about the steps you should take in preparation for selling your business. If you're interested in finding out how to get the maximum value for your business, contact Freedom Factory today. Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ How to Prepare My Business To Sell Follow us on Twitter @freedomfactory7 Subscribe to Our Youtube Channel Read the Podcast Transcript below Hi, Robert Hirsch from Freedom Factory here. And I want to talk to you about one of the most common questions that we get here, which is, how do I get my business ready to sell? Or I've decided I want to sell my business. Now what? Well, the first thing you need to do is to get your house in order. So go and get two or three years of tax of tax records. And financials and put those together. Get them from your accountant and get them ready to go. Second, if you haven't put together an operations manual, this would be a great time to do so. You know how your business works, you know how the different departments interrelate, but when you sell your business, we want to make it as easy as possible to transition to a new owner. And that value is going to be reflected in the sales price. So go put your operations manual and new job descriptions together and get your house in order. And the third piece is find, you know, put your team together. Find a great broker and an appraiser. Get an idea of what your business is worth. Start to craft the story and figure out, okay, how are we going to take it to market? When are we going to take it to market? You know, what's the current tax environment. You know, how can I recast my financials? And what I mean by that is really simple. They're going to, we're going to take your EBIDTA or your accountant can do the same thing, and we're going to translate it into seller's discretionary cash flow, which is. A fancy way of saying all the money that your, that your business creates when you do your tax returns. It's a game of minimization, right? Tax evasion is illegal. Tax avoidance is very smart. So you're trying to pay as little tax as you can. Well, we need to translate that, you know, from some of your non-cash expenses, depreciation, you know, some of your discretionary stuff and add that back in to maximize the value accurately. Flag. All the value that your business creates, and that's gonna make a big difference. And finally, you know, what industry are you going to be in? How do we maximize your multiple? And there are ways to be able to do that. But think about what industry you're in. Figure out, you know, all your financials. Put an operations manual together to make the transition as easy as possible. And all of this is going to be, is going to help you when you put the right team. Find the right appraisers, find the right brokers, and if you need any help with this, give us a call here at freedom factory. You know, please hit like and subscribe and thanks for watching. Learn how to sell your business with Freedom Factory Find out more about Robert Hirsch

  4. 04/27/2020

    How are Brokers Different from Investment Bankers

    In today's episode of the podcast, Robert Hirsch from Freedom Factory talks about the difference between business brokers and investment bankers. Watch the video below, listen to the podcast, or read the transcript. How are business brokers different from investment bankers Hi, it's Robert Hirsch from Freedom Factory again. And I wanted to talk to you today about a question that we get a lot, and it's, what's the difference between a broker and an investment banker? And you know, as an entrepreneur, I didn't know the difference. The first time I sold a business, I used an investment banker. And, you know, and long story short, I became a broker because the whole situation could have gone better. And so what I learned was that that brokers, all they do is sell businesses and primarily entrepreneurial businesses. And sometimes they sell it to other entrepreneurs, sometimes they sell it to private equity firms, smaller private equity firms, sometimes venture capital's, sometimes small roll-ups. But they're really focused on helping entrepreneurs get the maximum value for their business. Now, investment bankers and I don't know, they're just very different. And part of our team here at Freedom Factory are people that came from an investment banking background and they did really large deals, you know, primarily, you know, deals over 100 million and many deals that are five, 10, 15, 20 million are way too small for them. Or they just, you know, essentially the fees aren't high enough to make them pay attention. So it's estimated that roughly 80% of all M&A deals are done by brokers, but roughly 10% of all M&A revenue is done by brokers. And again, you know, our average selling price are companies that do EBIDTA of roughly two to 20 million. And what that means when you do earnings of two to 20 million is our sales price are significantly smaller than companies like Google or eBay. And so it's really a, a big difference. So bankers are really focused on large deals, large teams, you know, big deals. If you have a smaller business or a company that does revenue of. 50 or 60 million or less, you're going to be very small for a banker, but you're going to be really immaterial to a broker. And so when it came down to what do I want to do with the rest of my productive life, I've been running entrepreneurial businesses for 30 years, and I've gone from spectacular successes to smoldering holes in the ground and, and everything in between. You know, it really came down to who's your tribe? And I love entrepreneurs and I love helping entrepreneurs with the biggest deal of their life. And we really had a chance to reinvent the brokerage space here at Freedom Factory and done some, some pretty innovative things. To me, the big question becomes, If you've been there done that $100 million company, you know, sometimes bankers can do a really good job and there's only a few institutional buyers and they know most of them. And it can be very easy if you're an entrepreneur that's built a high growth lifestyle company, and again, your earnings are somewhere between two and 20 up to 25 million, you know, your sales are 50 million or less. Then finding the right broker that specializes in deals that size can really make a huge difference. Because if you're, if you're a small fry to someone, no one likes feeling like they're small fries, especially if it's a, the biggest deal of their life. But maybe, maybe your fees on your dealer are just a few hundred thousand and on another deal. You know, bankers can make 10 15 20 million from a deal. So they're really going to focus on that. Ultimately, when you look at what the size of your business is and trying to decide what's right for you, an investment banker or a broker, you know, and I would suggest talking to both, but figure out who makes you feel great. Make the right decision based upon the size of your business. If you have questions on this or anything else like this, just give us a call at freedom factory and we'd be happy to help. Thank you so much for watching. Please like and subscribe and we'll see you soon.  Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers https://vimeopro.com/freedomfactory/freedom-factory http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://vimeo.com/freedomfactory https://www.linkedin.com/company/freedomfactory https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/about Available on Youtube

  5. 04/27/2020

    Strategies for Getting Your Company Ready to Sell

    Today's episode of the podcast, Robert Hirsch from Freedom Factory talks about the strategies you should be using when getting your company ready to sell. You can listen to the podcast, watch the video, or read the transcript below. Strategies for Getting Your Company Ready to Sell Strategies for Getting Your Company Ready to Sell Hi, it's Robert Hirsch from Freedom Factory. I was just working up in my mountain house and I needed to tell you this. I'm just working on it with a new customer and we're getting their company ready for sale, and I'm going through all their information, and I realized that not only do I need to tell our new customer this, but I think telling all of our customers how to get your company ready for sale is only going to help our tribe and our entrepreneurs. So first of all, I want to talk about a difference between owning a job and owning a business. And I talk about this a lot, but perhaps I haven't explained it as well as I could. So if you're not sure if you own a job or you own a business, just don't show up for a week. Maybe do a little bit of work from home. But if your income stays the same or goes up, you own a business. You've built a machine that makes a machine. If your income goes down or your sales go down, you own a job. And before you go to sell your business, being able to transition, owning a job to owning a business who really help your valuation. And if you don't know how to do it. We help businesses with that all the time with our home stretch program. And so again, if you're not sure if you own a business or you own a job, the best litmus test that I know is just don't show up. See what happens when you're not there because you want a business that's built on systems and processes, not on one person in this intrinsic knowledge. Also when I write my operation manual for my business, I try and make it so easy. I joke that a monkey could do it, but I try and make it so easy that even my teenager could do it. Being able to read it and understand it, not using a lot of industry jargon or difficult to understand words so that the business operates the way you want it to is going to maximize your valuation. By the way, if you haven't put together an operations manual for your company and you're thinking about selling it, this would be a great time to do so. Some of the tricks that I used to do that, I talked to every role and I haven't put their roles and responsibilities. I put it all in there. I take my company mission and values. I put it all in there. I take my contracts and the things that I use over and over again. For example, here at Freedom Factory, we have a pretty robust document set, non-disclosures, letter of intent, asset purchase agreements, stock purchase agreements - all the things that we use a lot for our client's benefit. I put it all in this operations manual to get it into one place so that's easy to use. These and other things are going to help you build a business and not a job. And if you do own a job, please don't be discouraged. You know, transitioning a job to a business is fairly easy to do. It usually takes about three to six months and it can dramatically affect the final selling price of your business. If you need any help with anything, just give us a call at Freedom Factory. Thank you so much for watching. Please hit like and subscribe and we'll see you soon. Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ https://vimeopro.com/freedomfactory/freedom-factory http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory Podcast also available to watch on Youtube

  6. 04/27/2020

    What Contract Structure Should I Use to Sell My Business

    Robert Hirsch, founder of Freedom Factory, discusses the different types of contracts that you can use to sell your business. What Contract Structure do I Need to Sell My Business Stock Purchase Agreement or Asset Agreement? What's the Difference? Read the Transcript Below Hello, this is Robert Hirsch from Freedom Factory, and I want to talk to you about something that sometimes you get so involved in selling businesses that you don't realize that you have all these TLAs or three letter and acronyms that people don't understand. And so I just got a letter from one of my clients and he was talking about the difference between deal structure when selling a business. And so we're going to cover what's the difference between a stock purchase agreement and an asset purchase agreement because they're, they're pretty fundamental and often in the LOI or the letter of intent, it's going to be listed whether they want to do a stock purchase agreement or an asset purchase agreement. And so as both a seller and a buyer, often if you don't know which one to do, and I'll give you exceptions to the rule before we get through the entire video. But I like asset purchase agreements and there's some fundamental differences, and I'm going to go into those right now. So an asset purchase agreement means you're buying the assets of a company. So you're going to set up another shell company and are going to buy the assets and you're going to put it in there. So. Uh, for example, when I was buying a, I personally bought a boat company I boat manufacturer for, for fly fishing. And many of you that know me know that I love to fly fish and we're up here in my mountain house right now and it's a raining day. And I decided it's probably good to get some work done. So I bought it with an asset purchase agreement. And so when you do that, all you have to do is just get the assets of it and put it in there. So the differences are the liabilities of the old company. Don't transfer. So if they owe the bank $100,000 you buy the assets and you put them in there and they're unencumbered, and then they have to pay off the debt. Obviously, if somebody has a loan on it, you can't sell the assets out from under them. So they're going to have to clear that debt with the proceeds and we can handle that in escrow. But an asset purchase agreement is means you're just buying the assets of a company. So it's not your job to find every liability that they have that sticks with the, with the other company. So conversely, if you do a stock purchase agreement, now the due diligence is much harder. You have to find all the debts of the company, and often they, you can make promises or reps and warrants in the contract of what that means. But a stock purchase agreement means you're buying all the assets, all the liabilities of the company. And sometimes you can do things like have the seller warrant certain risks and there's ways to do it, but stock purchase agreements are much more complicated. 80 to 90% of the deals that we see on high growth lifestyle companies are asset purchase agreements. Sometimes with our bigger companies, or they have a lot of IP or licensure, intellectual property. And licenses. Stock purchase agreements make more sense. For example, uh, if you bought a company and it had a lot of licensure, let's take the boat manufacturer, right? We were licensed as a U S coast guard, uh, approved manufacturer. We were a boat dealer. We also were a car dealer because we had to put tags on the trailers for them to drive it home. And we were ironically an auto manufacturer because we had to make the trailers and put a VIN on it. So that's a lot of licensure. It's a lot of one to three day classes, uh, that we had to take. So in that circumstance, when there's a lot of licensure, you can, if you want to, you can do a stock purchase agreement and the licenses transfer with the company. Again, you have to be a little bit more careful about your diligence and making sure that you identify all the liabilities that the company might be exposed to. That includes environmental risks and business risks. So if you're not sure what to use, 80 to 90% of the. At the time, I would really recommend an asset purchase agreement. If it's a company with less than $20 million in sales. There's obviously exceptions to it, and if you have any questions about what those exceptions are, what it looks like, why don't you just give us a, call it at freedom factory. You know, we have, you know, great middle of the fairway S PAs and APA has their stock purchase agreements and asset purchase agreements you can take to your attorney.

  7. 04/27/2020

    What is the Most Undervalued Asset Class

    In today's episode of the podcast, Robert Hirsch from Freedom Factory talks about - What is the Most Undervalued Asset Class. Listen to the podcast, read the transcript, or watch the video below.  Hi there. It's Robert Hirsch from Freedom Factory again, and I want to talk to you today about what I see as the most undervalued asset class on the planet. And that's small business. If you're to go buy a small business, and let's say it's making $200,000 a year and it's in an average industry, and you know an average thing, you might be able to buy it for three times earnings. And what that means is the purchase price of the company would be $600,000. Now a lot of guys are watching saying, you know, maybe I don't have a $600,000 check or a 6 million check or a 60 million check. Put whatever size is appropriate for you, but you can go get things like small business loans. You can do seller carry notes. Often you can buy a company throwing $200,000 a year, for only a hundred or $200,000 into it or less. And when I look at the stock market, let's say a company is trading for 20 times earnings. So if it's earnings or $1 million, it's trading for 20 million is its market cap. Well, it's much more interesting to buy a company at three X. They want a 20 X, and you know the math is pretty obvious. But if you have an entrepreneurial skillset and you're willing to work hard and sales and marketing and entrepreneurship. There isn't a more undervalued asset class on the planet. You know, me personally, I've made all my money from buying, selling, and operating small businesses over a 28-year career. If you have any questions about any of this, please give us a call it freedom factory. Thank you so much for watching. Please hit like and subscribe and we'll see you soon. Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) www.FreedomFactory.com g.page/freedom-factory-denver Also Follow Freedom Factory here vimeopro.com/freedomfactory/business-brokers vimeopro.com/freedomfactory/freedom-factory freedomfactory.libsyn.com twitter.com/FreedomFactory7 facebook.com/Freedom-Factory-112201923642080 vimeo.com/freedomfactory linkedin.com/company/freedomfactory youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/about

  8. 04/27/2020

    When is the Right Time to Sell My Business

    In today's podcast Robert Hirsch answers the question "When is the Right Time to Sell My Business?" Watch video, listen to the podcast, or you can also read the transcript below. Freedom Factory, The World's Best Business Brokers When is the Best Time to Sell My Business Additional Videos: How Do I Sell My Business Transcript for - When is the right time to sell my business? Hi Robert Hirsch from Freedom Factory here. And I want to talk to you about a really important subject and when is it the right time to sell your business? This question has a bit more art than it does science. And ultimately it's kind of a gut check of what you know.  We're outside. This is the backyard of my mountain house and is kind of my happy place. The first thing I'm going to suggest to you is get a change of scenery. Get out of the office. Get out of the commute, either with your family or away. Now figure out some place that you can go, whether you love to fish or ski or go to the mountains or go to the beach and whatever it is, just go somewhere and change your location, and get somewhere you feel really comfortable. And then think about your business. And I look at it and I think about it in three questions. First, am I here and am I clear? Am I really into my business? Am I serving my business or does my business serve me? And I think life is too short to live where you serve your business. Your business is your personal vehicle to more freedom and more wealth. And the way I define freedom is pretty simple - it's doing what you want, when you want, as often as you want, with whom you want. And if you love what you're doing and you think, God, this is amazing, and I am here and I am clear and I'm doing exactly what I'm supposed to do, which is the way I look at selling businesses for fellow entrepreneurs, then that's awesome. And it's not time to sell your business. If you're not sure about that, I would think a little bit harder, and I would dive in and say, do I have the right vision? Do I have a clear vision on where I'm going to take my business in the next one, two, three, maybe even five years? What do I need to do in order to resolve it and feel great, and feel like I've accomplished what I've accomplished? Now, if your business is growing 40% a year or 50% a year, you probably have a clear vision. You're probably executing really well and you probably feel in flow. On the other hand, if you've been growing at 5% for the last five years, well that's a little bit more difficult, and perhaps somebody else can do it better than you. Whenever my business is growing at 5%, I'm looking to sell. I'm saying, okay, I need an operator. I'm more of a strategic guy. And how do we focus on really creating something that is amazing, where you're on point and on purpose, but your growth rate will be a big indicator of that. And the final thing is, you have done what you came to do if you, if you went into your business, when I came to the business brokerage business, i knew I wanted to change the way that entrepreneurs buy and sell businesses. I've started three of the largest brokerages. I hired, one of them, or I've acquired them to get the people, and I've really made it a much more efficient market. And that's what I set out to do when I came here. But if you left your current business and think about this for a second, would you feel resolved or would you feel like you didn't finish the job you came there to do. So I looked back at it and I say, okay, is my business serving me. Am I clear and engaged every day? Do I have anything left to accomplish and do I have a fresh set of ideas to really implement that vision? These are the things that walk you through it. It's a bit of an imprecise science, but overall it's really a gut check. What do you think? Do you think it's time to sell your business? Because usually if I think about selling it, it's about six months too late. So if you have any other questions on this or anything else, it would be our privilege to help here at Freedom Factory. So just give us a call, please like and subscribe. I'm Robert Hirsch. Thank you for watching and we'll see you soon.   Contact Freedom Factory Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 Phone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also Follow Freedom Factory here  https://vimeopro.com/freedomfactory/freedom-factory http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://vimeo.com/freedomfactory https://www.linkedin.com/company/freedomfactory https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Available on Youtube

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Freedom Factory is the world's best business broker. Learn how to sell your business for maximum value. Find out how to get an accurate business appraisal for when you sell your business, or if you are investing in a new venture.

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