Build a Business That You Can Sell
4.9 (5 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
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Build a Business That You Can Sell

Make sure your business creates the freedom lifestyle you want by planning for its sale
4.9 (5 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
109 students enrolled
Created by John Chang
Last updated 9/2015
English
Current price: $10 Original price: $100 Discount: 90% off
1 day left at this price!
30-Day Money-Back Guarantee
Includes:
  • 30 mins on-demand video
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Know what it takes to build a business you can sell
  • Understand how selling your business can help you achieve a freedom lifestyle
  • Identify who needs to be on your team of advisors to help sell your business
View Curriculum
Requirements
  • Students should be familiar with basic business planning.
  • Issues related to employment benefits and other employee issues are not covered
Description

Many of us chose to start a business to create a lifestyle of freedom and passion. Too often we realize too late that somehow we ended up trading one job for another.

If you're still trading your time for dollars - if you don't have systems in place - if you ARE the business, then you're really not building a business. You're creating a job that no one is going to want.

And that's a problem.

You see, I've worked with owners who got sick. Or others who needed to move to a new area. Or some who just decided they needed to change careers.

But they had little options.

It's said in the business brokering industry (these are folks who buy / sell businesses every day) that 4 out of 5 businesses don't sell.

In reality it's been my own personal experience that the numbers are more like 9 out of 10. And worst of all it typically takes 6 to 8 months to sell a business - that's one that DOES sell.

We're going to cover -

  • What is the one site you do NOT want to advertise your business for sale
  • Make sure you have this document signed or you may just lose your business
  • How can you make that you get the most value for your hard work
    and much more!

Since 2006, I've been helping business owners with their planning and strategy. Over the years I've learned that these hard working folks really do support our economy. But unfortunately it also means that they often don't benefit from their hard work because they are missing just a few key pieces of the puzzle.

Now it's my job to help entrepreneurs and small business owners to see how their business isn't just a way to serve their customers. But it can also serve as a vehicle to reach the success and freedom that they've always dreamed of.

This course is for educational purposes only. Everyone should seek legal and financial advice from professional advisers. (Photo: Ramin Hossaini)

Who is the target audience?
  • This course is for entrepreneurs who are building their startups.
  • Small business owners will learn how to make sure their business will help them achieve their financial goals.
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Curriculum For This Course
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Let's Get Started
2 Lectures 01:28

Just a few words on why this course is so important to all entrepreneurs and small business owners.

Preview 01:28

(Please see attached outline.)
What We Don't Cover in This Course

  • M&A - Mergers & Acquisition; this gets into some securities discussions and things that apply only to a few folks.
  • Specialized businesses, e.g. medical / legal practices - there's more here than we can cover in this course
  • Pure asset sales such as liquidation or forced sales requires an appraisal expert

We will only briefly mention: customers, employees, and partner.

Preview 12 pages
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Watch This Before You Think About Selling Your Business
3 Lectures 12:07

Learn how to answer the #1 question of business owners and understand what matters to buyers. Avoid the worst place to try & sell your business. Don't make this mistake that can lose your business.

Preview 03:36

Learn what are some key considerations. When is a good time to get an appraisal? What is the difference between an appraisal and an "opinion of value" or valuation report? Does an appraisal tell me how much my business is worth? How do we use "multiples" in deciding the value of my business? When is the best time to sell a business? When is the worst time to sell?

Preview 04:06

Who are the key advisors you need? What are their roles? How will they help you get the most for the sale of your business?

Preview 04:25

Every business needs key players for success.

Who are the key members of your dream team?
1 question
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So How Do You Actually Sell Your Business
5 Lectures 11:32

This is, of course, the critical step to selling your business. Take the time to make sure you have done your homework.

Marketing - How to Get the Word Out That You're Selling Your Business
04:32

What is the key financial information you'll need before selling your business?
1 question

You can end up spending a lot of time wasted on buyers who will never buy - much less even make an offer. By screening prospective buyers the right way you will make sure handle those who are serious.

Screening - How to Avoid Wasting Time with Buyers that Don't Buy
02:23

You can spend a LOT of time chasing buyers.. DON'T DO IT! This is the biggest mistake I've seen with business sellers. Here are my top tips to save time and avoid aggravation!

You're Busy Running Your Business - Here's How to Avoid Wasting Time!
4 pages

Yay! You've gotten your first offer - now what? Well, the fun is just beginning. Keep your eye on the prize, and you'll move one step closer to successfully selling your business.

Negotiation - How to Get the Most for Your Business
03:23

Ok, you've made it this far. Does this mean that it's over? Not yet.

Escrow is the critical last mile in this marathon. Time to finish strong!

Closing - How to Get Money in the Bank
01:14
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Recap and Some Final Thoughts
3 Lectures 05:22

Over the years there are a few key traits that separated businesses that owners were able to sell from those that did not. Here's a summary of these.

What separates businesses that sell from those that don't?
4 pages

Here's a short summary on what you've learned. Now let's go forth and make it happen!

Quick Recap on What We've Covered
03:45

Thanks again for making it this far - well done!

Be sure to stay in touch and discuss what you're learning.

If you have questions that other students may benefit from learning, please share it in the Discussion section.

Feel free to reach out to me and let me know how I can help you on your entrepreneur's journey!

Some Parting Words and How to Stay in Touch
01:37
About the Instructor
John Chang
4.0 Average rating
191 Reviews
5,118 Students
2 Courses
Entrepreneur, Author, Speaker,Small Business Coach / Advisor

Over the years John has helped entrepreneurs and business owners to achieve the freedom and passion they wanted in starting their businesses. He has helped them to buy / sell businesses as well as put their marketing on auto-pilot.

Since 2012 John has been teaching students how to start their own businesses in field inspection work after publishing his first book, Field Inspection - Get Started in One of Today's Best Home Business Ideas.

Last year he published his second Kindle ebook, Local Alchemy - How to Transform Your Business with Online Marketing.

Nice to know stuff.. John Chang has a B.S. degree from Illinois Institute of Technolgy and MBA degree from Kogod School of Business, American University. He has lectured at the Haas School of Business, University of California and taught workshops at Independent Mystery Shoppers Coalition (IMSC) conferences in Las Vegas.

Most important of all, John is passionate about helping entrepreneurs and business owners bring the gift to the world that only they are meant to give!