Seven Exits and Counting: Justin Goodbread Blitzscaling to Exits

The Exit - Presented By Flippa

Technology

5 • 2K Ratings

🗓️ 2 December 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- In this episode of The Exit: Justin Goodbread, CEO of Financially Simple, reflects on his journey through seven successful business exits, with his most recent venture scaling to an eight-figure exit in just 49 months. Justin discusses the alarming statistics around business exits, noting that of 11 million businesses expected to attempt selling in the next few years, only one million will successfully transact, and just 4% of those will be pleased with the outcome and exit amount. He emphasizes the importance of understanding business value and identifying value gaps across eight key areas: planning, leadership, sales, marketing, people, operations, finance, and legal. His approach focuses on preparing businesses for maximum value through strategic timing and defendable metrics. Justin also shares how he successfully negotiated valuations by demonstrating historical performance and accurate forecasting. Currently, Justin helps other business owners through speaking engagements, writing, and his Value Growth Academy. For more insights on building and selling businesses, listen to the full episode of The Exit. -- Justin Goodbread is a renowned entrepreneur, author, and business coach with over 30 years of experience in scaling and exiting successful businesses. Beginning his entrepreneurial journey at just 15, Justin learned early the transformative power of business ownership and financial independence. His impressive track record includes selling his last business for over $10 million within just 49 months, marking him as a top-tier expert in the business community. Justin's expertise is particularly valuable for seasoned business owners, especially those in service industries with annual revenues exceeding $500,000. He excels in helping these entrepreneurs break through growth barriers and prepare for lucrative exits. His strategic guidance focuses on enhancing business value and making companies appealing to potential buyers. Website: https://www.justingoodbread.com/ LinkedIn: https://www.linkedin.com/in/justingoodbread/ YouTube: https://www.youtube.com/@justingoodbread Check Out Flippa’s Data Insights Tool: https://flippa.com/data-insights -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0	Before we get into the exit today, I want to talk about the certified M&A advisors that are on
0:05.7	Flippa. If you are an operator right now running a business and you're thinking about exiting,
0:10.8	you are going to want to get a free online business valuation on the exit landing page.
0:16.7	Without a doubt, it is the smartest thing you can do to start a process and get yourself organized.
0:23.0	So you're going to go to the URL, flippa.com, slash exit, to check out more, and let's jump into
0:28.1	the interview.
0:29.3	Below and welcome to the exit presented by Flipup, the number one platform to buy and sell online
0:34.2	businesses.
0:35.2	Flipa manages over a billion in deal value annually and combines expert buy and sell
0:40.6	side advisory with its market leading valuation tool, deal room, off market offering,
0:45.3	market insights, an AI-based deal-by-deal matching engine.
0:49.6	Now for the exit.
0:50.9	The exit is a 30-minute podcast featuring awesome entrepreneurs who have been there and they
0:54.8	have done it. The exit talks to operators who have bought and sold businesses of all different sizes.
1:00.3	You learn how they did it, why they did it, and get exposure to the world of exits. It's a world
1:05.1	occupied by a small few, but accessible to many. On this episode of the exit, I sit down with
1:10.5	Justin Goodbread.
1:11.6	He's a fantastic entrepreneur and author, and not only has he done one or two or three,
1:17.9	but he has done seven exits.
1:20.6	And this is an incredible wide-ranging conversation where we talk about how he basically
1:26.2	blitz scaled multiple businesses to eight-figure exits
1:30.8	in a couple of years. And this is just a fantastic example of how somebody really cracked the code
	...

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