How To Have An 8-Figure Exit By The Age of 27 With Mac Lackey
The Mike Dillard Show
Mike Dillard
4.8 • 583 Ratings
🗓️ 11 December 2020
⏱️ 52 minutes
🧾️ Download transcript
Summary
Today I have the pleasure of introducing you to Mac Lackey.
Mac has a pretty incredible history as an entrepreneur…
In fact, he sold his first business for 8 figures by the age of 27, and since then, he’s started, scaled, and sold 5 additional software companies.
While a lot of entrepreneurs think about the idea of selling their business for tens of millions of dollars or more as some kind of dream, Mac has turned it into a duplicatable process.
But what’s really unique about him, is that he doesn’t sell his businesses based on your typical earning formula.
Instead, he markets and sells his businesses to strategic buyers who are willing to pay 10-20 times more for his company than it would usually sell for.
A great example of a strategic acquisition would be WhatsApp, which was purchased by Facebook for $19 Billion in 2014, even though Whatsapp didn’t have any revenue at the time.
Can you imagine selling your business for $19 Billion, even though you’re not making any money yet?
Well the rules get thrown out the window when you find a strategic buyer, and today Mac is going to teach you how to do that.
In fact, I was so impressed by Mac and his experiences, as well as the humble leader that he is, I asked him to join my new software company as an advisor a few weeks after we recorded this interview.
We’ll be launching in Q1 of 2021, so make sure you stay tuned for more news about that in the months to come.
So if you’ve ever thought about selling your business at some point in the future, get ready to take some notes, and please welcome Mac, Lackey.
Resources:
Music:
Song: Facading - Take It Down [NCS Release]
Music provided by NoCopyrightSounds
Free Download/Stream: http://ncs.io/TakeItDown
Watch: http://youtu.be/PD8DU1bqvqg
Transcript
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| 0:00.0 | Welcome back to the Mike Dillard podcast. We help entrepreneurs like you get the knowledge and skills that you need to bring your dreams to life. |
| 0:12.2 | Welcome back to the show, guys. Today, I have the pleasure of introducing you to Mac Lackey. So Mac has an incredible history as an entrepreneur. In fact, he sold his first business for |
| 0:23.7 | eight figures by the age of 27, and since then, he has gone on to start, scale, and sell |
| 0:29.8 | five additional software companies. Now, while a lot of entrepreneurs think about the idea |
| 0:35.8 | of selling their business for tens of millions of dollars |
| 0:38.5 | or more as some kind of potential dream scenario that may or probably won't happen. Mac has turned |
| 0:44.7 | this into a duplicatable process, like he's just cranking him out. But what's really unique about |
| 0:49.6 | him is that he doesn't sell his businesses based on your typical earnings formula. Instead, he markets and |
| 0:55.7 | sells his companies to strategic buyers who are willing to pay 10 to 20 times more for his |
| 1:02.1 | business than it would usually sell for. Now, a great example of a strategic acquisition would be |
| 1:08.0 | WhatsApp, which was purchased by Facebook for $19 billion in 2014, |
| 1:13.7 | even though they didn't have any revenue at the time. |
| 1:16.7 | So could you imagine selling your business for $19 billion even though you're not making money yet? |
| 1:22.1 | Well, that's the kind of opportunity that Mac tends to look for. |
| 1:26.2 | The rules get thrown out the window when you find a |
| 1:28.6 | strategic buyer who is interested in your business and the assets it contains for reasons |
| 1:34.7 | greater than revenue. And today, Mac is going to teach you how to do that. In fact, I was so |
| 1:39.8 | impressed by Mac and his experiences, as well as his unique, humble leadership style that you're going to |
| 1:45.5 | hear today, that I asked him to join my new software company as an advisor just a few weeks |
| 1:50.1 | after we recorded this interview. Since then, he has become a mentor and become an extremely |
| 1:56.2 | good friend that I just think the world of. So we're going to be launching in Q1 of 2021. So make sure |
| 2:02.5 | that you stay tuned for more news in the months to come about that project. I'm super excited |
... |
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