Ep 186: From Burnout to Buyout: How to Know When to Sell Your Business
From Burnout to Buyout: How to Know When to Sell Your Business
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Join Brad Friedman and Jonathan Baker as they chat about a topic every business owner needs to think about at some point. Having an exit strategy!
Jonathan Baker heads up the M&A practice at Punctuation. He has worked on dozens of deals both inside and outside the industry and brings a unique perspective as a fellow owner who has gone through the process himself.
He graduated from Emory University’s Goizueta Business School in 2005. His career began working at a small boutique marketing strategy consultancy. There, he was able to do marketing strategy and positioning work for many well-known Fortune 500 CPG companies.
In 2011, he left to start a craft brewery, Monday Night Brewing where his focus was on marketing, sales, and taprooms. After helping his business partners grow to 180+ employees and numerous locations, Jonathan stepped away from the day-to-day to head up the M&A practice for Punctuation.
He loves cocktails, music, and hiking, and lives in Atlanta with his wife, two kids, and entitled rescue Australian Shepherd, Oscar Snugs.
In this Episode:
- Jonathan talks about the sale of digital marketing firms. Something that applies to all kinds of businesses
- Jonathan discusses the benefits of having an exit plan in place.
- Jonathan says there is generally a range in which your company may be valued, depending upon a number of factors.
- Jonathan talks about what to expect during the M&A process.
- Jonathan also businesses have to be a certain size to be attractive to buyers.
Quotes from this Episode:
“Your choices get narrowed down based on your personality the size of your business and I would say your goals for how you wanna spend your time after you get out.” – Jonathan Baker
“But generally it's gonna be basically your profit times a number, and that will be in very simplistic terms, that's how you're valued.” – Jonathan Baker
“You need to be thinking, two to three years after the sale is when you'll actually be done.” – Jonathan Baker
“Running a business while knowing that you might be selling the business are two things that are hard to keep in your mind at the same time.” – Jonathan Baker
“And so you need to be building something that in some ways minimizes your emotional attachment.” – Jonathan Baker
Resources:
Jonathan Baker:
LinkedIn: Jonathan Baker
LinkedIn: Punctuation
Website: Special Listener Page
Website: Punctuation
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