Today’s episode of the podcast, Robert Hirsch from Freedom
Factory discusses “Strategy to Sell My Business if I am in EO
Entrepreneurs Organization”.
Listen to the podcast, watch the video, or read the
transcript below.
Additional Videos From Freedom Factory
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Transcript of Podcast
Hi, it’s Robert Hirsch here from Freedom Factory, and I want to
talk to you about selling your business if you’re in the
entrepreneur’s organization or EO. Now, I’ve been an entrepreneur
for the better part of 25 years. And I remember when I first joined
EO, it was YEO and I was in my early twenties and I learned of a
lot.
The two things that really underpinned entrepreneurial growth
for me were, one, a peer learning group like EO. And second was
learning how to groom mentor relationships. If you think about a
university or any type of learning environment, you usually have
those two things that are helping it – the peer learning
group or your classmates and the teacher or the mentor.
One of the things, when I was in EO, I was starting my business
and I was a good entrepreneur, but I didn’t know what I didn’t
know. And my solution to everything was make more revenue, some
more stuff. That’s always what I was trying to do. If something
came up and I didn’t know how to handle it, I would sell more
stuff, but I rarely thought about selling my business. And so if I
thought about it, or for example, when I was running software
companies at the time, and when the company, that was my dream
became my nightmare.
I had venture capitalists and I had financing and limited
partners and we were behind plan and it wasn’t working. I would
make a forum presentation. I’d go to my group and my group is
seven people, and the reality was the forum was helpful and they
were empathetic and they listened, but they had some constraints,
right? One, no one had told the business yet. Two, we were stuck in
gestalt and get shop protocol and not a lot of people had a lot of
relevant experience to share.
When it came down to selling my business, the reason that I made
the mistake is a good friend of mine that I trusted unequivocally
said he knew someone that could help me sell it. But I never went
through the process of determining if that was the right person.
And the reality was, I’ve met this banker and I learned this
important lesson, because we talked past each other, right? Bankers
don’t speak entrepreneur and entrepreneurs don’t speak banker. And
so he was telling me about what was happening, but I knew he wasn’t
my tribe. I knew I needed to find an entrepreneur to help me sell
my business and make sure it’s the right person.
For me as an entrepreneur my businesses is really a Trojan horse
for me affecting the world or creating social change. And when I
realized that we had enough LPs and it was a software company in
the adventure travel space, and I realized that I wasn’t going to
be able to do that, and I lost my passion for it. I knew the time
was right to sell and I just didn’t know who to talk to.
So if you’re an entrepreneur and you’re thinking about selling
your business, or you have questions about what it’s worth or what
an exit looks like or deal structure. Why don’t you give us a call
at Freedom Factory? We are all entrepreneurs. Most of us have been
in EO or YPO or tiger 21 along the way and we’d love to help
you.
I’m Robert and I look forward to speaking with you soon.
Thank you so much for watching. Please like and
subscribe.
Contact Freedom Factory
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
https://g.page/freedom-factory-denver
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from
https://freedomfactory0.wordpress.com/2020/04/27/strategy-to-sell-my-business-if-i-am-in-eo-entrepreneurs-organization-2/
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