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Terry Lammers took over the family oil wholesaling business in 1991. By 2010, Tri-County Petroleum was selling $42 million worth of gas and oil, when Lammers decided it was time to cash in.
In this episode, you’ll learn:
One of the reasons Lammers decided to sell was the stress of managing cash flow. On average, he got paid in 27 days but had to shell out the cash for his gas and oil within 10 days, meaning he had 17 days to finance in a very low margin business in which the price of oil changes daily. If you have a negative cash flow cycle, it can drag down the value of your business. Fix it using The Cash Flow Finder, a tool in Module 10 of The Value Builder System™. Complete Module 1 for free by getting your Value Builder Score.