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When looking to exit a business, selling it can be a great option for some entrepreneurs. But how can you ensure your business is sellable? Is there an emotional aspect to selling your business?
In this episode, Mark Dorman speaks with Scott Duke, founder of OpnRoad, on his experience in building many businesses and selling them, discussing the challenges he faced and the lessons he learned along the way.
Scott discusses:
- The process of building his property management company, Revelstoke, and the challenges he faced
- Importance of implementing systems, processes, and open book management to drive value in a business
- The emotional impact of selling a business
- Why businesses struggle to sell when they are dependent on the owner
- The purpose of his company, OpnRoad, and how they service the lower middle market
- How they valuate a business to determine whether it’s sellable and transferable
- And more
Related: Revolutionizing Financial Modeling for Business Owners with Edmond Walters