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Episode 221: Industry Tea with Partner Michael Jay - Selling a Studio
Manage episode 392053596 series 2991340
Kandungan disediakan oleh Nick Dennis. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Nick Dennis atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
What We Cover In This Episode:
One of the single biggest things that restricts selling options as a studio owner [4:03]
How to approach starting the selling process as an owner [7:38]
A look at stock sale versus the asset sale [11:44]
What to consider in order to be fully prepared for due diligence [13:41]
Why you should always be thinking about your exit plan while running your business [17:57]
Thoughts on what the value of legacy really means [25:33]
What the driving factors to sell a studio typically will be [36:27]
A few things that you can do right now to set yourself up for success in selling [41:21]
Quotes:
“Have policies and procedures that are written into the employee handbook that someone else can step in and take over and it doesn't revolve around you as an owner.” [Mitch, 4:31]
“Normally, we want to be years ahead of this, so your lease coming to an end can restrict the options that you have to sell more than anything else.” [Mitch, 6:38]
“Beauty is in the eye of the beholder. Worth is, how much is it worth to you and how much is it worth to a buyer who’s willing to write a cheque? That’s what determines value, really.” [Mitch, 22:34]
LINKS:
Learn More About Michael & Get Exclusive Offers from our Partners!
Connect with Mitch on Instagram
Connect with Michael on Instagram
Episodes 219, 217, 215 & 115 with Michael
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