You start a business… you run it successfully for decades. But, asks Molly Grubb, what’s your exit strategy?
The nightmare scenario – you get to the end and don’t have a sellable business or one you can pass on to the next generation.
Molly helps people avoid that situation.
Try this exercise: If you took a two-week vacation with no contact with your business… what would happen?
If the prospect has you running scared… you won’t be able to sell. But Molly has some solid tips for creating an exit plan, which you should be working on right now.
We talk about…
- How to minimize your tax obligation when selling your business
- Avoiding tasks that waste time and suck energy
- Solving the two problems business owners struggle with most
- A painless process for delegating
- And more
Episode Timeline:
00:11 Steve introduces the Dynasty Builder, Molly Grubb. Molly is one of only a few certified business exit consultants and can help you plan your exit strategy.
01:57 Molly explains the heartfelt story that led her to do what she does today.
06:14 Molly talks about being a recovering actuary and how she moved into business.
09:35 Molly talks about systems and delegation.
12:28 Molly helps us understand how to plan our exit strategy.
15:33 Molly tells us to quit being so in love with our bank accounts.
17:32 Molly explains why most business exits fail, emotional attachment.
20:19 Molly explains her how her business focuses on the owner rather than the business. Molly explains how she helps quarterback your exit.
25:10 Molly talks about the two major issues with exits…tax and insurance.
26:53 Molly tells us about her book, Build Your Dynasty, and the 4 things it will do for you.
28:23 Molly talks about the utilities on her resource page.
Mentioned in this Episode:
- Build Your Dynasty
- Grubbwealth.com/unstoppable
- Toggl
