534: Michelle Seiler Tucker | How to Sell Your Business

With eight out of every ten businesses never selling, what can you do to make sure your business is firing on all cylinders? In this episode, we’ll be talking with Michelle Seiler Tucker, the preeminent expert on buying, selling, fixing, and growing businesses. Her proven track record boasts a 98% closing of offers she writes. The secret lies in the way she partners and collaborates with business owners by understanding that their businesses are like their ‘babies’ and should be handled as such. She is also the author of the books, ‘Exit Rich,’ and ‘Sell Your Business for More than it’s worth.’ Join in this episode and let’s explore the strategies that Michelle uses to successfully sell businesses. Things you will learn in this episode: [00:01 - 08:10] Opening Segment Sponsored adI introduce today’s guest Michelle Seiler TuckerMerger and AcquisitionSold hundreds of businessesBe sure to check out Guestio and start booking influential guests todayMichelle talks about her book Exit Rich 8 out of 10 businesses will not sell The challenge businesses face today Build a sustainable, scalable businessLink and offer below Michelle gives some background on herselfFather sold his business then moved to Texas Witnesses the transformation of Austin  [08:11 - 16:44] Getting into the Business of Selling Businesses Michelle talks about what inspired her to follow her pathCurious about people A love for writing From corporate worker to VPMissing entrepreneurship Venturing into franchise selling Putting Xerox on the map Missing the foundation to handle success Michelle shares about her college life Started out in medical High value on schooling and also entrepreneurship Getting into selling businesses Started by selling small businesses Transitioned into million-dollar businesses Learned the need to fix businesses first  [16:45 - 32:41] How to Sell Your BusinessMichelle walks us through the 6 P’s Always innovate and market People - building up peopleAsk the Who’sDon’t be next to the Who Product - Ask about your industry The Covid examplePivot - Know when it’s time to change The Amazon example How can we improve the experienceA word from our sponsorThe next 3 P’s Process - designed with the customer in mind The Founder example Vision vs. Integrator Be well documentedProprietary Branding TrademarksPatents Contracts Databases Endorsements Profits  [32:42 - 38:29] Closing SegmentThe typical timeline to sell your business The healthiest, high earning businesses sell the fastest How owner compliance comes into play Who you know, or What you know?If you the right person you can always grow Network = NetworthThE RaNDoM RoUnDHow to reach out to MichelleLinks belowFinal words  Tweetable Quotes:  “8 out of 10 businesses will not sell…” - Michelle Seiler Tucker  “You don’t build a business you build people and the people build the business.” - Michel Seiler Tucker “Build your brand because the more well-branded you are the more that you will get for the sale of your business.” - Michelle Seiler Tucker Resources Mentioned: Exit RichSell Your Business for More than it's WorthRich Dad, Poor DadThe Founder  You can connect with Michelle on LinkedIn, Instagram, Facebook, and Twitter. Check out her website https://seilertucker.com/ to learn even more.  Did you love the value that we are putting out in the show? LEAVE A REVIEW and tell us what you think about the episode so we can continue putting out great content just for you! Share this episode and help someone who wants to connect with world-class people.  Jump on over to travischappell.com/makemypodcast and let my team make you your very own show! If you want to learn how to build YOUR network, check out my website a travischappell.com. You can connect with me on Facebook, Instagram, and Twitter. Be sure to join The Lounge to become part of the community that’s setting up REAL relationships that add value and create investments. Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy