Jenn Foster and Melanie Johnson co-owners of Elite Online Publishing, interview Nate Lind about the world of digital businesses, e-commerce, technology, SaaS, and more. Gain valuable insights on positioning and selling your digital business in today’s world.
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What You’ll Learn in this Episode:
- How to position your company to sell.
- How to predict your cashflow.
- How long it takes to sell a business.
“Have a liquidity event, put some money in the bank. Go put some of that into, upcoming slump in real estate. Buy something, multi-family, get some income from an industry that’s more likely to be more passive than your operating entity.” (07:13)
“I like to try to have a little buffer in the asking price of the business so we can concede, some points that I see will come up, and not be such a big deal that it blows up over a hundred thousand dollars worth of salary.” (12:35)
“You’re gonna have to think through those tax incentives, and what your tax burden’s gonna be. You just need to remember that whatever cash you’re gonna take out of the sale, you’re gonna spend on a new house or a new car, or paying off debt, that’s gonna get taxed.” (20:24)
About Nate Lind:
Nate Lind, is an American entrepreneur, triathlete, author and business broker. Reading Rich Dad Poor Dad inspired Lind to dream of financial freedom and passive income. He exited his first company in 2016, which was an e-commerce technology to a shopping cart platform. Lind learned that selling a company and using the proceeds to buy passive income was far easier than trying to run it passively.
Nate sells companies like Realtors sell homes. He is a business broker at Website Closers, the largest marketplace of $1 million to $150 million dollar Internet, Technology and E-commerce businesses. There are 167,000 buyers looking at 103 client businesses for sale right now. This year they will sell over 300 companies to their private network.
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Video URL: https://youtu.be/EVef9uUkEDY