Finding The Best Colorado Business Broker: Things To Look Out For This video will discuss a small pain point that we have in our company, and it's a business valuation calculator. Many people look at tools and real estate such as Zillow or go through the Kelly blue book on cars and think"Why don't you have a calculator for business valuations? We've seen you doing it for a long time but the truth is we'd love to. The problem is that it's difficult. And so there are some very good benchmarks, such as earnings and revenue, and we could discuss guidelines and how they will look like. But what makes it difficult to achieve is that you can have two businesses with the same revenue, same earnings, worth significantly different multiples. In reality, two, three X the other, and they're barely even far apart. This is due to intangibles. There's a myriad of aspects to a business - intellectual property, defensibility software and more that really make it an even more complicated discussion that just asking what's your income and how much are you worth? this hypothetically. We're now working on it. It's probably a little far too early to speak about it, but we're working with an amazing company to solve this problem and we'll come up with a solution shortly. However, in the meantime, if you have any queries regarding how to maximize the potential of your company or what your business is worth, why not give us a call by calling Freedom Factory. We're looking forward speaking with you in the near future. How do I prepare my business to sell? Entrepreneurs often aren't sure what they should do to prepare their company to sell. If you've made the decision that you want to sell myour business. What do you do now? Well, the first thing you need to do is to put your house in order to prepare your business to sell. Also, obtain two or three years worth of tax-related tax documents. And financials and put those together. Take them to your accountant and have the documents ready for. In the second, if you've never made an operational manual, now is an ideal opportunity to create one. You're familiar with how your company is run, and you know how the different departments interrelate however, when you decide to sell your business, you wish to make it as easy as possible for the transition to a new owner. And that value is going to be reflected in the price of sale. Therefore, put your operation manual and job descriptions and put your house in order. And the third piece is finding out how to the right team. Find a reputable broker and an appraiser. Find out what your business is worth. Start to craft the story, and then decide, okay, how are we going to take it to the market? When will we launch it? You know, what's the tax situation currently. You know, how can I alter my financials? What I mean by that is really straightforward. We're going to look at you EBIDTA or your accountant's ability to do the same thing, and we're going to translate it into seller's discretionary cash flow, which is. A fancy way of describing all the money business earns when you do your tax returns. It's all about minimization, right? Tax evasion is not legal. Tax avoidance is very smart. So you're seeking to be as tax-efficient and pay as low a tax as possible. Well, we must translate that, you know, into some of your non-cash expenses, depreciation, you know, some of your discretionary expenses and then add it into the equation to maximize the value. Highlight the value your business generates to have a major impact. And finally, you know what field are you going to be in? How do we maximize your multiple? And there are methods to achieve that. Think about the field you're working in. Figure out, you know, all your financials. Put an operations manual together to make the transition as easy as is possible. The whole process, and everything it will be, is going to help you by putting together the best team. Find the right appraisers, and find the best brokers to assist you in preparing your company for selling, and if you need any help with this get in touch with us right here, toll free at Freedom Factory. Is it the right moment to sell my company? This is a really important subject and when is it the right time to sell your business? This is a little more of an art than science. It's basically an examination of what you know. We're outside. This is my backyard. It's in my mountain home and is a part of my happy place. The first thing I'm going suggest is to get a change of scenery. Get out of the workplace. Take a break from the commute, either with your family or away. You must now find a location where you could go, no matter if you like to fish, ski or visit the mountains or go to the beach and whatever, just go somewhere and switch your place of residence and go to a place that you are comfortable. And then think on your own business. Then I take a look and then think about it in three questions. First, am I really here and am I clear? Do I truly believe in my business? Are I doing my best to serve my company or does my business serve me? And I think your life is too short to be living where you are serving your business. Your business is your personal way to greater freedom and wealth. And the way I define freedom is quite simple - it's doing what you want, at the time you desire, and as often as you'd like and with whom you'd like. And if you're enjoying the work you're doing and feel like, God, this is incredible, and I'm in the right place and am in the right place and doing exactly what I'm supposed to do, which is the way I think about selling my businesses to fellow entrepreneurs and entrepreneurs, then that's great. The time is not right to sell your business. If you're unsure about that, I would think a little bit harder and then I'd dive in and say, Do I possess the correct perspective? Have I got a crystal clear idea about where I want to go? I'm planning to expand my business in the next one, two, three, or maybe even five years? What should I do to get over the issue and feel good and confident that I've accomplished what I've accomplished? Now, if your business is growing 40% a year or 50% per year, then you've probably got an eye-opening vision. You're probably executing really well and you're probably feeling that you're in the flow. On the other hand, if you've been growing by 5% in the past five years, well that's a little bit more challenging and you can find someone who does it better than you. When my business is growing at 5percent, I'm considering to sell. I'm thinking, okay. I need an operator. My style is more of a strategic guy. How do we concentrate on really creating something that is amazing, where you're focused and purposeful, but your growth rate is a good indicator of the fact that. The final point is, you've done what you were born to do if you, when you started your business, when I entered the business brokerage business, i knew I wanted to change the way entrepreneurs purchase and sell their businesses. I've started three of the biggest brokerages. I've hired the third one, bought them to attract the right people, and I've transformed it into a effective market. And that's the goal I set out to accomplish when I arrived here. However, if you quit your current business and think about it for a moment, would you feel resolved or would you feel like you didn't complete the task you were there to complete. Then I re-read it and I say that's fine, is my business serving me. Am I clear and engaged every day? Do I have anything I need to accomplish and do I have new ideas for implementing that idea? These are the factors that will guide you through it. It's a little bit of an imprecise science, but all in all, it's a gut check. Do you agree? Do you think it's the right time to sell your company? If I'm thinking about selling it the item, it's usually six months too to be. So if you have any additional questions about this or something else that you need help with, it's our privilege to help here at Freedom Factory. We're waiting for you to give us a call Check out https://freedomfactory.com/why-freedom-factory/ will give you a free business valuation to find out the worth of your business. Denver business broker Ty Tysdal will help you to prepare your business for sale. Call Freedom Factory for a free business valuation Freedom Factory 5500 Greenwood Plaza Blvd #230 Greenwood Village, CO 80111 Phone: (844-629-8258) https://g.page/freedom-factory-denver Contact Ty Tysdal Top [Colorado business brokers https://www.instagram.com/tyler_tysdal https://www.crunchbase.com/person/tyler-tysdal https://tylertysdal.blogspot.com/p/blog.html https://tylertysdal.blob.core.windows.net/tylertysdal/News.html Tyler Tysdal Business Broker https://opensea.io/tylertysdal https://oembed.libsyn.com/embed?item_id=20714141 Watch Video