Ryan Tansom sold his family business to a local competitor for eight figures. After stumbling through the exit process, Ryan realized he left millions on the table and he could have controlled the outcome much, much better if only he had known! This is why he started the company Arkona and has developed a boot camp for business owners so that they’re aware of the steps they can take to make a successful exit. On this week’s show, Ryan shares his 5 Intentional Growth Principles!
Key Takeaways:
[2:35] What is Ryan’s boot camp about and how does it help CEOs?
[5:35] Ryan shares his entrepreneurial story and how he first got started in all of this.
[11:20] Investment bankers go in and look at the facts/numbers. If that means laying off 60% of the workforce, so be it! This is why it is important to talk to them beforehand about what’s important to you.
[14:50] It can be difficult to think about all the trade-offs and stick to what’s important to you if you don’t lay it out first. Since it’s your business, you have the power in this situation to get what you want.
[15:35] What financial targets should you be measuring and monitoring even if you don’t plan to sell?
[17:55] What is the risk of your cash flow? What’s the risk that it’s going to still be there tomorrow? Do you depend on China, for example?
[20:15] Make sure your evaluation and your price are realistic for your industry. Just because you heard someone make 5X to 10X on the sale of their business doesn’t mean it’ll apply to you!
[28:00] The biggest thing is people simply do not know/are not educated enough about this and that’s where the rookie mistakes end up happening.
[33:35] How can you strategically implement value in your company?
[40:00] Sign up for the boot camp to learn about this while you’re still passionate about the business, because when you figure out your number and want to sell, you may already be too burnt out to do the necessary steps needed to get your price.
[44:45] Either you’re going to be acquiring someone to de-risk your cash flow to continue growing or you’re going to be someone else’s target to de-risk their cash flow and keep going.
[45:15] Get yourself a team of advisors, but what does that look like?
[49:45] Ryan shares the types of lessons his boot camp students are walking away with.
[55:00] What can attendees expect at the boot camp?
Mentioned in This Episode:
Email Todd: Todd@Dynastylc.com
Call Ryan: 612-720-6530