About this episode
We talk a lot about how you sell a business, but the real satisfaction comes when exit and expectations match.
Jessica Tindel and her partner started Dream Enrichment Classes, a business offering after school programs in math and art 13 years ago. Tindel built the business to 60 part time instructors and 5 full time office staff when a new business caught her attention. Stretched thin and drawn to the potential of her new idea, she decided to sell. In this episode, you’ll discover:
In this episode, you’ll learn:
- How “add backs” can significantly boost the value of your company
- The two things Tindel recommends every partnership agreement should include
- How many years a buyer will consider when evaluating the performance of your business
- The definition of “good will” and how to make sure you get paid for yours
- Who owns the cash in your company when you go to sell it (you may be surprised by the answer)
- The two things Tindel wished she had done differently if she could sell her business all over again.
Tindel looks back on her exit without regret in part because she was excited to sink her teeth into a new business (Poppy Clips and Pop Charms). Making sure you have something you’re excited to go do after you sell is one of four steps you can take to ensure you look back on your exit without regret. Find out the other three, and evaluate how ready you are to sell, by getting your PREScore™.