Selling your business and retiring are not the same thing. In Josh Latimer’s case he sold his company Birds Beware, a Michigan-based window cleaning business because he wanted to go do something else. Hear his story on this week’s episode.
Have you thought about when you want to sell your company?
A lot of owners think selling equates to retirement, but selling your business and retiring are not the same thing.
Sure, some people sell because they want to play more golf but many others sell because they want to go do something else.
Take Josh Latimer as an example, he started Birds Beware, a Michigan-based window cleaning business. He built his company up to $800,000 in sales and decided to sell it so he could move his family of three young kids (with a fourth on the way) to Costa Rica.
Josh was able to get almost five times EDITDA for his small personal service business because he had set it up with systems that allowed it to run with just five hours per week of Josh’s time. Getting your business set up so it can run without you is something we do in Module 7 of The Value Builder System. It all starts by getting your Value Builder Score.
Joshua left his job as a banker for JPMorgan Chase & Co. to start a cleaning business in Michigan, which he grew and eventually sold to a California-based cleaning conglomerate in 2015. Now he lives in Costa Rica with his wife and four kids, where he helps small business owners from all over the world understand the power of business systems and automation, and the freedom they can bring. Joshua is the founder of AutomateGrowSell.com, an online training platform for small local service businesses, as well as SendJim.com, a follow-up automation tool for busy professionals.