Access our 10 Step Checklist to Sell Your Business
Exiting a business can be a stressful experience. Aaron Walker’s words are wise: "Don't even think about selling unless you've got a plan in place." To make that plan, it's important to know what you're getting yourself into. That's why we've put together this handy Selling a Business Checklist to guide you through the process.
About Our Guest
For over 42 years, Aaron Walker has been a small business owner, devoted husband, and community leader.
It only took a few years as a partner with David Patton Construction LLC for Aaron to help take the business from doing one to two projects per year to a multi-million dollar company, voted number one builder for three consecutive years by Nashville’s House & Home & Garden Magazine’s People’s Choice Awards.
Aaron sold his retail business to Cash America USA, a Fortune 500 company. In addition to being the owner of eight lucrative businesses, he participates in civic endeavours.
Aaron has been in a personal Mastermind with his friend, financial guru, Dave Ramsey for over two decades. Spiritual mentors David Landrith and Bob Warren have impacted his spiritual life beyond measure.
Two other disciplined mastermind groups, 48 Days led by friend Dan Miller and The Torch have played a role in his understanding of how to live a significant and successful life.
Aaron incorporates education and learning opportunities into his daily routine, remaining informed of the latest tools and trends available, which he shares with the men on ISI Mastermind Group.
About this Episode
Aaron Walker: Finding Happiness after a 7-Figure Exit
At just 27 years old with a north seven-figure sum on the table, Aaron Walker should have been elated. He sold his local business to a Fortune 500 Company and never had to work another day in his life.
But instead, he found himself in a deep hole of depression. His life post-exit was nothing close to the elation you would expect for receiving a life-changing amount of money. Aaron went on a journey of introspection, trying to find purpose in life and in business again. His eye-opening lessons are around how business owners should be preparing for their eventual exit.
This episode will leave you re-evaluating your life and career goals.
What you will learn in this episode
- Selling to a Fortune 500 Company? Here’s what NOT to do in due diligence
- The importance of using an advisor to mitigate the emotional baggage in a transaction
- Re-investing in the future of the business: How to avoid lifestyle creep
- How to build a sense of self-worth that’s attached to a purpose, not a position
- Three effective tools for entrepreneurs to marry business and purpose
Connect with Aaron Walker
(5:43) Early on, Aaron Walker learned one of the first rules of business. Everything is for sale for the right price. When he refused to sell to Cash America, they came back a few months later and asked what number it would take to sell. That number was 7 figures.
(14:35) Aaron had a breeze in the due diligence process because of three lessons he’d taken from his earlier years: Do your taxes, do the right thing, and re-invest the cash in your business – not your pockets!
(22:22) For nine years, Aaron took an $18,000 annual salary so he could pour the money back into the business. After getting the wire transfer, Aaron was listless for 18 months.
(29:46) On August 1, 2001, Aaron was headed to the office when he struck and devastatingly killed a pedestrian. Besides causing a massive personal shift, this caused Aaron to retire on the spot. Here’s what he discovered in that five-year period.
(36:26) Here are three tools that every business owner can use to help them prepare for a fulfilling, purpose-driven life post-exit.