Buy to Sell: Acquiring for Growth
What does it take to be a Zoologist? Matt Raad couldn’t tell you--he left his PhD program in Zoology to become an entrepreneur.
Kickstarting, selling, acquiring, and merging several companies with his once fellow Zoologist wife, Matt has built a life for himself in the Australian countryside doing what he loves. Believing that business is the vehicle through which you can realise the life of your dreams, we talk about the importance of clearly visualising the kind of life you want and then creating a company that supports it.
Among other topics of conversation, Matt and I dive into the two key things that make a great business transaction and why he recommends asking yourself how you’re going to exit your business from day one (even if you have no plans to jump ship).
Quite simply a tried and true business addict, Matt talks about his first, slightly unsuccessful foray into entrepreneurship and shares the journey from brick and mortar, to manufacturing, wholesale, and then online.
If you’ve been thinking about jump starting or scaling your business so that it better aligns with the life you truly want, I have a feeling this episode is just the one for you.
What you will learn in this episode
In this episode we’ll cover everything from:
- The worst mistake Matt thinks you can make--even in the website world--when trying to sell a business.
- The keys to selling--make sure you’ve got a good advisor and two buyers to help drive the price. Then, keep the pace moving, and make sure there’s a collaborative effort between accountants and lawyers to keep things running smoothly.
- Matt’s one take away tip--the number one thing he asks people when they’re thinking about selling.
About Our Guest
Matt Raad
Matt Raad and his wife, Liz are highly successful website investors, angel investors, and digital educators who have been involved in Mergers and Business Acquisitions for the past 25 years in the $1M to $20M range.
They are regarded as Australia’s leading experts in website valuation, website due diligence, and investing in digital assets.
Their primary focus is teaching total beginners how to transition and replace their high-income job or business income with passive online income, so they can secure their family’s future AND have real assets that can be sold for 20-50x their monthly income.
Connect with Matt Raad
Website: https://ebusinessinstitute.com.au/
Website: https://mattandlizraad.com/
LinkedIn: https://www.linkedin.com/in/matt-raad/
LinkedIn: https://www.linkedin.com/in/liz-raad-56627419/
Facebook: https://www.facebook.com/MattandLizRaad/
Twitter: https://twitter.com/TheMattRaad
Twitter: https://twitter.com/LizRaad
Show Notes
(1:15) How Matt and his business partner (his wife) both started out in Zoology--before moving into brick and mortar stores, wholesalers, manufacturers, and finally the online world.
(4:25) After realising that their chosen occupations were tied up in city life, Matt and his wife looked for another way to fulfill their country living dreams--and still achieve financial freedom.
(7:40) How his upbringing on a country NSW farm encouraged him to be a parent who could stay close to home--and how his business life is helping to fulfill that dream.
(13:25) Matt’s realisation that he was addicted to business within 24-hours of kicking off his first venture--and why the “choose your own adventure” lifestyle works for him.
(17:15) The one issue he saw recurring again and again in the manufacturing world--and how it’s seasonal cycle led him to starting a more diverse second business.
(35:00) The worst mistake Matt thinks you can make--even in the website world--when trying to sell a business. (Hint: don’t try and sell these things yourself. Further, get an intermediary involved--you will always get back in value what you pay for in fees.)
(36:26) The keys to selling? Make sure you’ve got a good advisor and two buyers to help drive the price. Then, keep the pace moving--and make sure there’s a collaborative effort between accountants and lawyers to keep things running smoothly.
(53:00) Matt’s one take away tip? The number one thing he asks people when they’re thinking about selling is “what are your goals?” Further, he recommends thinking about that same question from day one and then setting that up in your exit plan.
