Freedom Factory's Podcast

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Is There a Simple Business Valuation Calculator".   Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategies for Getting Your Company Ready to Sell How are Brokers Different from Investment Bankers?   Transcript of Podcast Hey, it's Robert from Freedom Factory. I want to talk to you about a little pain point that we have in our business, and it's a business valuation calculator. People look at real estate and tools like Zillow, or they look at Kelly blue book on cars and they say, why don't you have a business valuation calculator? You've been doing this for so long, and the reality is we'd love to. Problem is it's hard. And so there are a couple of really good baselines, like revenue and earnings and we can talk about guidelines and what that looks like but what makes us so hard to do is you can ...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How Can I Live My Best Life by Selling My Business". https://freedomfactory.com/sell-my-business/ Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategies for Getting Your Company Ready to Sell How are Brokers Different from Investment Bankers?   Transcript of Podcast Whenever I go to a cocktail party or a dinner party and I meet a fellow entrepreneur, I usually get the same question, which is how much to sell your business for. There's lots of videos and lots of tools and many things that I've done in the past that will talk to you about valuation or multiple or earnings or all the math that goes into selling your business but what I want to talk to you about today is a bit more of the art.  What I mean by that is really as an entrepreneur, what does it take for you to live your best life? So I remember early on...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses " When Should I Tell Employees if I am Thinking About Selling". https://freedomfactory.com/sell-my-business/ Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategies for Getting Your Company Ready to Sell How are Brokers Different from Investment Bankers?   Transcript of Podcast Hi, Robert Hirsch from Freedom Factory again. I just had a really interesting email from one of my clients, and long story short, rumors got out among their employees that they were selling the company and he chose not to share that with his team and now it's created some problems for him. And so I wanted to talk to you today about whether you should tell your employees that you're thinking of selling your company or not. To me, when I sell one of my companies or my advice on it, it's always honesty and transparency is the best policy...

Today's episode of the podcast, Robert Hirsch from Freedom Factory, discusses "Big Mistakes Sellers Make Before Selling Your Business." https://freedomfactory.com/sell-my-business/ Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory How to Buy a Business When You Don't Have the Cash What Are the Types of Business Buyers?   Transcript of Podcast Hey guys! Robert from Freedom Factory here, and I want to talk about something that comes up a lot when we start working with new sellers, and usually it sounds something like this, should I start a new revenue stream? Should I add a new channel? Should I build an affiliate program before I sell? And while this sounds like a good idea on the surface, in reality, not so much. And the reason for that is twofold. One, when you start a new revenue stream, it's going to burn as inefficiently as possible. And what I mean by that is your customer acquisition cost i...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "The Art and Science of Selling Your Business". https://freedomfactory.com/sell-my-business/ Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory How Does Recasting My Financials Affect the Value of My Business? Can I Sell My Business By Myself or do I Need Help? Transcript of Podcast Probably the most frequently asked question that I get is how do you determine the selling price of your business ? And the reality is its part art and part science. I'll go over some of the science, then I'll go over a little bit of the art, and again, experience goes a long way. Coming back to the science part of it, some of the really easy pieces are are what's your earnings? Earnings is often expressed in EBITDA or your earnings before income tax depreciation and amortization. We convert that into seller’s discretionary cash flow for...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "How to Buy a Business When You Don't Have the Cash". listen to the podcast, watch the video or read the transcript below. Additional Videos From Freedom Factory Strategy to Sell My Business if I am in Vistage Strategy to Sell My Business if I am in YPO (Young Presidents' Organization)   Transcript of Podcast Hi, Robert from Freedom Factory here. And I want to talk to you about a question that we get from buyers of a lot, which is, well, what if I don't have $1 million check to write? And the reality is most of us don't have $1 million check to write, but how do you buy a business if you don't have $1 million check? And that's what we're going to jump into today. So it's my personal belief that small businesses are the most undervalued asset class on the entire planet. If you're buying a stock and you're buying it at a 30 times multiple or 30 ...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "What Are the Types of Business Buyers". https://freedomfactory.com/buy-a-business/ Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategy to Sell My Business if I am in Tiger 21 What Type Of Contract Do I Need To Sell My Business?   Transcript of Podcast Hi, Robert Hirsch from Freedom Factory. And I just had this really interesting question, and it was from a buyer of a business. And in one of my other videos I was talking about different kinds of buyers, right? There's first-time buyers, entrepreneurial buyers, strategic buyers, and we'll go into a whole host of them. But, but he said, well, what kind of buyer am I? I'm not sure. And I made the joke, I said, well, that means you're a first-time buyer. He was actually a serial entrepreneur and we got a good kick out of it. But I wanted to talk about the dif...

Today's episode of the podcast, Robert Hirsch from Freedom Factory discusses "Strategy to Sell My Business if I am in Vistage". Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategy to Sell My Business if I am in Tiger 21 Caution: What is the Trap of the Working Wealthy?   Transcript of Podcast Hey, it's Robert from Freedom Factory here, and if you're a member of Vistage and you want to sell your business, I'd love to talk to you about that. So you obviously realize that executive coaching and peer learning groups can be a big advantage in your growth. There are really two things that have helped underpin my entrepreneurial success. One is having a peer learning group, and second is having a mentor and really learning how to groom that mentor-mentee relationship. And if you think back to school or university, those were the two things that you got, right? You had a peer learning group ...

Robert Hirsch from Freedom Factory discusses "How Does Recasting My Financials Affect the Value of My Business". Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory Strategy to Sell My Business if I am in Tiger 21 How do I Approach a Competitor to Buy My Business?   Transcript of Podcast Hey, Robert Hirsch from Freedom Factory here. Sometimes we get so lost in our own nomenclature and vernacular and what we say in our industry, terminology that we forget that everybody doesn't know it. And a question that keeps coming up is, what is seller's discretionary cash flow? And when you go to sell your business here at Freedom Factory, one of the many things that we do is we recast your financials from taxes where you're playing a game of minimization to sellers to discretionary cashflow, where you're playing a game of maximization. And some people say, well, isn't that two sets of books? Isn...

Robert Hirsch from Freedom Factory discusses "Strategy to Sell My Business if I am in Tiger 21". Listen to the podcast, watch the video, or read the transcript below. Additional Videos From Freedom Factory How to Sell Your Share of a Business if You Have Other Partners Caution: What is the Trap of the Working Wealthy?   Transcript of Podcast Hey, it's Robert from Freedom Factory, and if you've thought about selling or buying a business and you're a member of tiger 21 we'd love to help. As many of you know, I was the founder of Austin Group One. We built a very vibrant chapter and we helped a lot of our fellow tiger members buy and sell companies. In my opinion, the most undervalued asset class on the planet are small to mid midsize businesses. When I would be in a group and we would have presentations come in every month, it was a different guy in a suit, giving us a two 20 type structure, meaning 2% management fee, 20% carry. And it didn't ma...