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Tropical MBA: Entrepreneurship & Founder Lifestyle

Episode 217: TMBA 217: Selling the Assets of Your Business in a Strategic Sale

Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan Andrews; Ian Schoen

Digital Nomad, Business, Ecommerce, Society & Culture, Amazon, Founders, Cash Flow, Places & Travel, Founder, Business Owner, Cashflow, Management, Entrepreneurship, Million, Operator, Operations, Profits, Distributed Team

4.9527 Ratings

🗓️ 7 November 2013

⏱️ 47 minutes

🧾️ Download transcript

Summary

http://www.tropicalmba.com/boat/ http://www.tropicalmba.com/boat/ Cam Collins runs a business that helps marinas manage their boat inventory. He recently sold the assets of the company in a strategic merger, and we’re pumped that Cam came by the podcast to share the lessons he learned during the process. Listen to this week’s show and learn: The difference between a strategic...

Transcript

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0:00.0

Hey, podcast, listener.

0:05.1

Even if you are alone in your entrepreneurial journey, know that today, right now in your earbuds,

0:09.7

you are joined by thousands of entrepreneurs from all around the globe seeking to grow better,

0:14.9

more profitable, location independent businesses.

0:17.8

If you'd like to learn more about what we do and download our entire back catalog,

0:23.0

check out tropical MBA.com.

0:32.3

Hey, yo, happy Thursday morning. It's a tropical MBA podcast. This is the show where we talk about

0:37.4

location independent businesses. talk about location independent

0:39.3

businesses. Speaking of location independence, buddy, you're just bouncing all around.

0:44.4

I'm right here I am. Here I am. Here you are. We're doing the podcast. We're doing the podcast. It's the

0:49.3

best part of the week. We just spent the last three hours stressing out about, oh, that's going to make a good

0:55.3

podcast. I don't like to talk too much about things that I can't talk about, but just wait until

0:59.5

that one comes out. Do we need a lawyer? Do we need a line of credit? Do we need to go to this place?

1:04.6

Help. Help. Typical entrepreneurship stuff, but it's great to be here on the podcast with you today.

1:12.0

And it's great to have our special guests, Cam Collins, who of course spoke at our event in Berlin,

1:17.2

sent us an email last week saying, hey, guys, it's official.

1:20.7

It's, I've sold my business.

1:23.1

Do you want to hear about it?

1:24.4

Yeah, because we haven't talked to too many people that have sold their businesses.

1:28.1

I'm infatuated with how to sell a business, what goes into it, all the different systems. Think about all the stuff you're going to hear today. I mean, we did a really deep dive with Cam. So we're going to talk about the difference between a strategic sale and a financial sale. We're going to talk about our business brokers really worth it. We're going to talk about something that terrifies entrepreneurs.

1:47.0

How and when do you get lawyers involved?

1:49.0

Oh, I thought you're going to say getting your books in order for a sale.

...

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