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Dan and Ian announced on last week’s show that they are publishing a new book about the things they wished they had considered before they sold their business.
In researching the topic,they were shocked to find that there were so few people writing stories about the experience of selling businesses. The majority of books were simply focused on trying to get a fair price for your business.
Today’s guest is Bo Burlingham. Bo is the author of several books, including one called Finish Big, which Dan and Ian both wish they would have read before selling their own business. Bo is also a journalist, with over 30 years of experience as a writer and editor at Inc. Magazine.
In today’s episode, Bo shares his stories about interviewing entrepreneurs who have exited their businesses and explains why he believes that there is much more to the process of selling than a simple monetary transaction.
Transcript
Listen to this week’s show and learn:
Why you have to consider exiting a business as a phase rather than an event. (4:46)
How Bo discovered that so many people had regrets about selling their businesses. (11:40)
Why a successful exit is about the transition rather than the transaction. (18:09)
The questions you can ask yourself early on that will help prepare you for an exit. (27:35)
What Bo hopes that other entrepreneurs will take away from his stories. (53:17)
Mentioned in the episode:
Before the Exit – Our New Book
TMBA Masterminds
Sponsor the TMBA Podcast
The Dynamite Circle
The DC Podcast
Help Us Choose a New Name for the TropicalMBA Podcast
DC BKK
Bo Burlingham
Finish Big by Bo Burlingham
Small Giants by Bo Burlingham
The Great Game of Business by Bo Burlingham and Jack Stack
Inc. Magazine
How to Get Rich by Felix Dennis
Norm Brodsky
Evolve USA
Stephen Covey
Cadence Blades
Gary Erickson
Clif Bar
Jack Altschuler
Fidelity Investments
This week’s sponsor:
This week’s episode is brought to you by Bean Ninjas. Most bookkeeping professionals think an Amazon product is rainforest lumber. The Bean Ninjas is a bookkeeping service that specializes in online businesses. The Bean Ninjas are offering a one-hour road mapping session to help clarify where your finances are and what your next steps should be. As a very special offer to listeners of this show, you can get access to that session at a fraction of the regular cost.
Enjoyed this podcast? Check out these:
TMBA 426: Our Favorite Books of the Past Year
TMBA 428: A Critique of Tim Ferriss’ 4-Hour Workweek
TMBA 431: We Wrote a Book
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All credit to Dan and Ian from the Tropical MBA. Thanks for recording this pod!
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