This 1 Skill Helped Him Sell His Business For $70M
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 6 June 2024
⏱️ 76 minutes
🧾️ Download transcript
Summary
In this episode, Ryan chats with serial entrepreneur Justin Brock. With only 10 years in the business, he has transcended others in the insurance space to not only be a successful owner, but to actually sell his business for $70 million!
But his journey started in a very different place: as a Marine diving into door-to-door sales.
Ryan and Justin dive deep into his transformation story, from those early sales days to discovering the power of marketing. Learn how Justin educated himself on marketing principles and revolutionized his business. They also discuss Justin's dive into creating organic content and building a personal brand, which played a huge role in his success.
You'll hear about how marketing has changed, the innovative strategies Justin is using today, and why getting into the insurance game might be a smart move for you. Justin’s practical tips and real-life experiences are sure to inspire and inform.
If you're passionate about entrepreneurship, marketing, and maybe even insurance, this episode is for you!
Learn how to invest in real estate with the Cashflow 2.0 System! Your business in a box with 1:1 coaching, motivated seller leads, & softwares. https://www.wealthyinvestor.com/
Want to work 1:1 with Ryan Pineda? Apply at ryanpineda.com
Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://tentmakers.us/
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | To build a company that sells for $70 million, tell me about that. |
| 0:03.4 | It's the barrier to entry is really low, but the exit side because of the renewal-based income and the |
| 0:10.2 | longevity of the products that we market. |
| 0:12.8 | The exit is great. |
| 0:13.8 | So if you make 2 million bucks, |
| 0:16.0 | you're looking at exiting for 20. |
| 0:18.4 | 20 plus. |
| 0:19.1 | Yeah. |
| 0:21.7 | To build a company that sells for $ million dollars, I think the fascinating part was that you |
| 0:26.7 | got a crazy multiple being in the insurance business. Tell me about that. |
| 0:30.9 | Yeah, so I think, you know, when people are looking at verticals to get into for, you know, |
| 0:36.1 | real estate has kind of an appeal to it, I do feel like that, but insurance is one of those that has been around for a long time as well and it's the barrier to entry is really low but the exit side because of the renewal-based income and the longevity of the products that we market. |
| 0:55.9 | The exit is great. |
| 0:56.9 | The EBIT-of- multiplies are great. |
| 0:58.2 | So a lot of people that are maybe watching that don't know what EBIT- |
| 1:02.0 | are and aren't thinking about exits. |
| 1:03.0 | When you go to sell your business, they're looking at the revenue and |
| 1:06.1 | different industries and different verticals have different multiple levels assigned to them. |
| 1:11.7 | Or kind of |
| 1:13.0 | that's the going rate, right? |
| 1:14.5 | So I might have one that's two or three X, |
| 1:16.7 | some that are five or six. |
... |
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