Joe Valley – Dollar, Date, and Emotion

A Little About Joe Valley:

After building, buying, or selling a 1⁄2 dozen of his own companies, Joe Valley helped build one of the leading online-focused M&A Advisory firms in the world. Now, after facilitating nearly 1⁄2 billion in exits, Joe has written the bestselling book The EXITpreneur’s Playbook – to help online business owners get the maximum value and best deal structure when they seek their own incredible exit.

Over the last nine years, Joe has mentored thousands of online entrepreneurs whose goal is to achieve their own eventual exit. He is a ​Certified Mergers & Acquisitions Professional, and a frequent guest expert in mastermind groups, on podcasts, and at events for entrepreneurs worldwide.

Joe’s book, The EXITpreneur’s Playbook – How to Sell Your Online Business for Top Dollar – shares real-life stories of successful and failed exits, and teaches readers how to reverse engineer a pathway to their own eventual exit.

Before joining the team in 2012, Joe sold his own business through Quiet Light. Joe is a Bestselling Author, Guest Speaker, Podcaster, EXITpreneur, Advisor, and Partner at Quiet Light Brokerage.

Quick-Show Notes:

In this episode of The Millionaire’s Lawyer, JP and Joe Valley discuss:

Joe and JP talk about how drastically the transaction in sizes have changed over such a short amount of time.

Businesses have started acknowledging that e-commerce and online businesses can be good businesses to be in, they have noted how successful they are.

Joe Valley states that what makes businesses attractive are the following:
  1. Risk
  2. Growth
  3. Transferability
  4. Documentation

There is a trend that Joe mentions, once you reach 24 months you will start noting them within your business.

Buyers do not like downward trends, so sell before you start reaching that point and, make sure you have a built-in way to grow.

There are some built-in Assets you can have, Joe Valley outlines them to be:
  1. Websites
  2. Products
  3. Lines

Joe and JP wish to enforce how important it is to not be the face of the business, this is because when you go to sell you still have to stick around for a transition period.

Your financials are CRITICAL!  It is so, so important to already have QuickBooks set up and functioning, and an e-commerce bookkeeper lined up.

Joe Valley mentions some niche industries that are doing well:
  • Pet
  • Dropship
  • Content
  • Repeat
  • Subscription
  • Sass
Aggregators:
  • 101 Commerce
  • Razor
  • Thraso

With the transactions that Joe Valley sees and assists with, the majority of them are Asset Purchases.

Make sure you have an exit strategy in place.

Joe states how important it is to have the following goals:
  1. $$
  2. Date
  3. Emotion

You want to make sure that when you go to sell, you have competition. This will allow you to negotiate from a position of strength.

Always approach the transaction with Math and Logic, Emotion will only cause issues.

Key Takeaways

From this episode of The Millionaires Lawyer with Joe Valley:

  • Businesses are changing in numerous ways, from ways to do business, to turnaround times.
  • Smaller is riskier than Bigger
  • Have your Financials known and documented.

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Email: jpmcavoy@conductlaw.com
Phone: 1-833-890-8878

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