The Smart and Savvy Exit - Interview with Mike Metzger- Ellen McIlhenny

Ellen McIlhenny - “The Smart & Savvy Business Exit ”
 
PROFIT RADIO..."Grow With Us"
Introduction
Well, it appears that small business owners are getting hammered yet again with the new wave of shutdowns.
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I don’t know about you but I just feel like there can be a better way. Some of the statistics on depression and suicide that are just starting to come out has to give everyone pause. Is the solution becoming worse than the problem?

But what we can do is continue to support our local business owners. As you are shopping for the holidays, forget Amazon and the other big box stores and seek out local friends. Some of these small business owners do a large part of their business for the year during the holiday season.

Every week here I mention the IBGR Entrepreneur’s Community.  Please, please, please Join our Community Network. It’s located in our app on IBGR.Network or go directly to IBGR.Community. Once on the inside you can join groups relevant to your business growth, connect with other entrepreneurs and interact with our on Air Talent. This is also the place to claim the business tools and downloads many of our on Air talent offers on their shows. Join the Community of Commerce and network with Entrepreneurs for Entrepreneurs - Come Grow with Us!

A welcome gift is waiting for you in the IBGR.Community! Join the community and get access to the complete six volume set of Business Growth Strategies e-book series! But eBooks are only as useful as the understanding of the reader. Become a member of our community and you also get access to the eBook authors - successful business owners and IBGR on Air talent who are waiting to help you grow your business. Let’s get the conversations started in IBGR.Community!
 
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Show Objectives
Today we will be talking to Mike Metzger of Murphy Business Sales.  He is a business broker based in Richmond, Virginia. As you know a broker is an important part of the transition team we talked about in episodes 13-16 of my podcast – Show title “The Exit Plan”..

Also you can listen to last week’s show “The Automatic Customer” on episodes 29 through 32. 

https://studio.podcast.co/ibgr/future-financial-confidence-with-ellen-mcilhenny/episodes

Key Issues - ​Owner/Manager Perspective:
Our Conversation

What is a Business Broker?

• What exactly is a business broker?
• Why should a business owner use a broker rather than do it themselves?
• How do you pick the right broker?

Problem areas:

• What are buyers looking for in a business?
• What is the biggest obstacle to selling a company?
• What should business owners be thinking about when they are getting ready to sell?

Emotional aspects:

• How does emotion come into play during a business transaction?

Valuation:

• How do you determine the value of a company?
• Do I need a formal appraisal?
• How will the COVID-19 pandemic affect business valuations?

 Written by Ellen McIlhenny - CFO Plus Services - www.cfoplusservices.com