Owning and running a business are two responsibilities that entail a tested and proven effective system. Some people are born leaders, while others have to devote their time and resources to learn the ins and outs of successfully running a business. The good news is that running a business is a teachable and learnable skill. It is all about execution because that sets you apart from other entrepreneurs in the market. A million-dollar execution can change the world in many ways. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/caution-what-is-the-trap-of-the-working-wealthy Contact: Freedom Factory 5500 Greenwood Plaza Blvd., Ste 230 Greenwood Village, CO 80111 hone: 844-MAX-VALUE (844-629-8258) https://www.freedomfactory.com/ https://g.page/freedom-factory-denver Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. How to Build My Business Into a Machine vs. a Job - Crypto Part 1 https://youtu.be/Gi7YokI14VU How to Build My Business Into a Machine vs. a Job - Crypto Part 2 https://youtu.be/pfue5SmAx9U Grow a Business or Buy a Business? https://youtu.be/tRnGER_zV1Q What Does Freedom Mean to me to Sell my Business? https://youtu.be/jju89Hj1_8Q #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
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Tuesday, April 7, 2020
Saturday, April 4, 2020
Robert Hirsch, from Freedom Factory, talks about business, "I Love My Business. How do I Sell My Baby? Boulder Boat Work...
Robert Hirsch, from Freedom Factory, talks about business, "I Love My Business. How do I Sell My Baby? Boulder Boat Works case study". When you try to get the maximum price for selling your business, you should know how to transform your business' buyer pool to a much larger scale that will result to a dramatic impact on your business' selling price. Redesign your business now. To learn more, you can listen to our podcast or watch our videos on Vimeo. https://vimeopro.com/freedomfa…/business-brokers/…/389990100
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Today's episode of the podcast, Robert Hirsch from Freedom Factory, talks about business, how to sell it, and about Boulder Boat Works case study. Listen to the podcast.##business #entrepreneurship #startbusiness https://t.co/0RlM1473Kg
Today's episode of the podcast, Robert Hirsch from Freedom Factory, talks about business, how to sell it, and about Boulder Boat Works case study. Listen to the podcast.
— Freedom Factory (@FreedomFactory7) April 4, 2020
##business #entrepreneurship #startbusiness https://t.co/0RlM1473Kg
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I Love My Business. How do I Sell My Baby? Boulder Boat Works case study.
Robert Hirsch from Freedom Factory, talks about business, "I Love My Business. How do I Sell My Baby? Boulder Boat Works case study".
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
What are the Secrets of Selling Your Business for Maximum Value?
Seller Beware! The Big Reasons Deals Don't Close
Transcript of Podcast
Hey, it's Robert from Freedom Factory, and I want to talk to you about a case study, which is on a company that I used to own called Boulder Boat Works. And for those that don't know what that is, we made the Ferrari's of drift boats. We made the best drift boats for fly fishing on the planet. One of my big passions in life for 20 years has been fly fishing. I love it and when I got a call from the former owner who said, Hey, can you help me sell my company? And I said, well, I said, in full disclosure, let me look at it and see if I want to buy it. And if I don't want to buy it, then I'll take it to market for you and we'll sell your business.
Long story short, I ended up buying it and I did one of my favorite strategies in buying a business, and we'll talk about that in just a second. Now, we're somewhat restricted by our nondisclosure agreements in talking about the deals that we've worked with as agents, but we're not restricted at all in what I talked about, of what I have done personally.
So I bought Boulder Boat Works, and frankly, the founder was a brilliant guy and a great boat designer, but, he owned a job. He didn't own a business. And one of my favorite strategies when buying a business is taking a business where you own a job as opposed to owning a business. So again, the litmus test I've talked about several times, and the litmus test is if you're not sure what you have, just don't show up for a month. If your income goes down, you own a job. And if it stays the same, it goes up you own a business.
Well, long story short, the founder of this business was the smartest guy in the room. He was the one that knew how to build the boats. He was the one that had the expertise, and if he didn't show up at the manufacturing facility, then no boats got made.
And so we bought it as a job. We bought it at a discounted rate. And we transitioned it to a business. For example, some of the things that we did, one, they had a mold for the boats. That's how they build the holes, or they mold the holes. They only had one of those, and it had been the same one for 15 years.
So the first thing we did was built a redundant mold, just in case the first one, we moved the company from Boulder, Colorado, where it was up until the roaring fork Valley on the side of a river where people actually use these boats. We built a second mold. We actually built a third one out of parts that we never assembled, and we shipped them up in two different semis because if we lost that mold, we'd lose the ability for us to build boats.
So we built-in redundancy there, and then we brought in people and processes, best in class for manufacturers. We separated steps one through nine and we put banners up that showed what each step did, and we color-coded all the tool sets and we just made it leaner and more efficient.
And so when you buy a business, it's owning a job and to translate it to owning a business, it's obviously much more valuable. It's probably worth one to two times earnings if you own a job and it's probably where three to five times earnings if you own a business. So we bought it and then we transitioned it to a business and then we sold it.
And so when you sell it, you want to sell it just slightly over 12 months, and we sold it in a little under 13 months. And the advantage of that, especially in the United States, is you take that at a preferential tax rate or what's called long term capital gains, which depending on your income level, is 15 to 20% plus 3% or 3.8% Obamacare currently.
So instead of taking it at a 40 to 50% earned income rate, we took the tax rate at less than half of that. So we moved the company we sold at less than 13 months later. We went from owning a job to owning a business. And so a lot of times as experienced entrepreneurs when you look at a company and they say, well, it's a job. They haven't done this and they haven't done that, and they haven't done this. And if you know what they haven't done, then you have an opportunity. And then you say, well, do I want to buy that job and transition it into a business and sell it at long-term cap gains? And some of these strategies, before taxes have allowed us to double or triple our money in less than a year.
So that was the case on Boulder Boat Works. And again, it doesn't matter what industry it's in. It just matters the company size, being able to own a job where you have a very small buyer pool into owning a business where you have a much larger buyer pool, that, of course, is going to make a dramatic impact on the sales price.
So if you have questions on this strategy or what your business is worth, or how do I buy a business, or how do I sell a business? Why don't you give us a call here at Freedom Factory? I'm Robert, and we look forward to speaking with you soon.
Thank you so much for watching. Please hit 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
Also, Follow Freedom Factory here
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Managing Partners
Learn more about the managing partners, Tyler Tysdal, and Robert Hirsch.
About Tyler Tysdal
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I Love My Business. How do I Sell My Baby? Boulder Boat Works case study.
Selling your business is probably one of the hardest decisions you'll ever make in your life, especially if you love it and have been a source of income for you and your family. Unfortunately, there are unavoidable circumstances that leave you with a decision to sell your business. When the time comes to sell your business, you would want to make sure you'll be able to sell it at the highest price possible and to the right person. After all, it is your business, your baby, and you want to hand it over to someone who is the best fit to manage it. Visit Freedom Factory's official website here: https://www.freedomfactory.com/ Download the podcast here http://freedomfactory.libsyn.com/i-love-my-business-how-do-i-sell-my-baby-boulder-boat-works-case-study Contact: 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 Also, Follow Freedom Factory here https://vimeopro.com/freedomfactory/business-brokers http://freedomfactory.libsyn.com https://twitter.com/FreedomFactory7 https://www.facebook.com/Freedom-Factory-112201923642080 https://www.linkedin.com/company/freedomfactory/ https://www.youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/ Additional Videos to learn how to sell your business. What are the Secrets of Selling Your Business for Maximum Value? https://youtu.be/5UKloSc4CI8 What is My Business Worth https://youtu.be/aPGKtNdDNio 3 Ways to Maximize Your Company's Value https://youtu.be/nNLMphNGoxU How do I Connect to My Purpose with My Business?https://youtu.be/I8UeaNqCUtw #freedomfactory #sellyourbusiness #businessbrokers Robert Hirsch - https://roberthirsch.com Additional information on managing partner Tyler Tysdal https://tylertysdal.com
from
https://www.youtube.com/watch?v=ymowFs4_tss
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https://www.youtube.com/watch?v=ymowFs4_tss
I Love My Business. How do I Sell My Baby- Boulder Boat Works case study in How to Sell Your Business
Selling your business is probably one of the hardest decisions you'll ever make in your life, especially if you love it and have been a source of income for you and your family. Unfortunately, there are unavoidable circumstances that leave you with a decision to sell your business. When the time comes to sell your business, you would want to make sure you'll be able to sell it at the highest price possible and to the right person. After all, it is your business, your baby, and you want to hand it over to someone who is the best fit to manage it. Visit Freedom Factory's official website here: freedomfactory.com/
Download the podcast here freedomfactory.libsyn.com/i-love-my-business-how-do-i-sell-my-baby-boulder-boat-works-case-study
Contact:
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
freedomfactory.com/
g.page/freedom-factory-denver
Also, Follow Freedom Factory here
vimeopro.com/freedomfactory/business-brokers
freedomfactory.libsyn.com
twitter.com/FreedomFactory7
facebook.com/Freedom-Factory-112201923642080
linkedin.com/company/freedomfactory/
youtube.com/channel/UCXUrv3qYNsR8NjZEWRDch5Q/
Additional Videos to learn how to sell your business.
3 Ways to Maximize Your Company's Value youtu.be/nNLMphNGoxU
How do I Leverage Other Peoples' Money For Buying a Business? youtu.be/bTPAvu5g_OE
How are Brokers Different from Investment Bankers youtu.be/gSJ4ilf_3oc
Seller Beware! The Big Reasons Deals Don't Close youtu.be/O4PDva5qwYs
#freedomfactory #sellyourbusiness #businessbrokers
Robert Hirsch - roberthirsch.com
Additional information on managing partner Tyler Tysdal tylertysdal.com
WWG1WGA Beating Covid19 With Q
The Covid-19 pandemic has made life challenging for thewhole world. The Corona virus pandemic has actually seriously impacted all aspects of life. People are getting ill, company, huge and small are closing down, the economy is on a downward spiral, and now more than ever is the time to be resourceful and imaginative. Patriots all around the world are utilizing the hashtag #WWG1WGA to show unity versus the invisible evil enemy. WWG1WGA stands for "Where We Go One, We Go All", a rally cry for freedom and success around the globe. This has actually been a treasonous infection and must be gotten rid of.
While the infection continues to spread out rapidly and health specialists are doing the finest they can to put an end to the pandemic, it is a should for every single one to make sure that their body remains in leading shape. Fitness lovers have a robust body immune system as their body is trained to handle physical stress, and their endurance and endurance are built with time.
Nevertheless, with businesses shutting down momentarily and the scare produced by COVID-19 pandemic, many gym-goers have a doubt of going to the gym, if any fitness centers are still open. Fitness franchise centers ought to develop adapting organisation strategies to make sure that physical fitness enthusiasts can even perform their exercise routine without the need to visit a conventional physical gym.
Offers Home Workouts for Owners and Members
The World Stands United with Trump Q+ WWG1WGA
Justice for the disease will come swift.
CoronaVirus is currently being battled around the globe. Freedom is coming quickly and life will be much better than it was in the past. "Where We Go One We Go All", #WWG1WGA, standing strong with Patriots and Q+, the world will beat the invisible enemy. PAIN and Justice are coming for the virus as the HA treatment of Hydroxychloroquine sweeps across the world like a storm. Soon the world will see the light at the end of the tunnel in a stunning timeline of unity and freedom that unites children and families, hoping that Good Friday will be extra Great and Sunday April 12th the world celebrates the resurrection of Jesus Christ. He is Alive Now! God Bless!!
Several other News of Interest Around the globe
Tyler Tysdal Launches Freedom Factory
Best Gym Franchise Changes Business Strategy Through Covid19 Outbreak
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