Get a FREE copy of Jim’s newest resource, “87 Things an Owner Needs to Know About Selling Their Business”: DOWNLOAD

Entrepreneur’s M&A Journal Episode 38—Interview With Ryan Moran

Summary: 

Ryan and Jim discuss Ryan’s very interesting M&A journey.  Ryan started with internet businesses at 18 years old.  He then went on to starting and selling products companies that are mostly based on the internet.

Main Questions Asked:

  • How did you pick what you sold?
  • Do you support your decision with data?
  • Where did you find your products to sell?
  • Did you view this as a business that you would get into and then get out of at some point?
  • How long did the process take from the day they approached you to when you closed the deal?
  • What advice do you give others about buying and selling?
  • I tell people all the time to be open to opportunities. 

Key Points made:

  • The way I evaluated what to sell was evaluation of growing trends. (2:37)
  • I knew when my Grandma knew what “yoga” was, it was a big enough trend. (3:30)
  • I try not to base my decisions on the numbers. (4:00)
  • I don’t want to go into a market that I won’t enjoy. (4:54)
  • I stay away from keyword research because I feel it is a small lens on an overall market. (5:40)
  • I went to AliBaba.com, where it is a wholesale marketer. (6:15)
  • We customized for our market. (6:50)
  • This business was built with an exit in mind. (7:57)
  • We had no interest in selling but the numbers made sense, so we moved forward. (8:30)
  • The buyer did put a number out and I didn’t like the number.  We ended up with a flexible term deal. (9:30)
  • There was a small piece of maintained interest in the company in the deal.  (10:35)
  • It took about 6 month’s total. (11:45)
  • When you are looking at selling your business, you are selling a multiple. (12:40)
  • The little things have a tremendous impactful measure. (13:00)
  • We ran out of stock.  This was at the beginning of our business.  No problem. But the effects of that month was factored into the total valuation of the company. (13:10)
  • I would be very clear on the holes in my business. (14:05)
  • From an outsider’s perspective, would I want to buy my own business? (14:20)
  • Don’t ignore the holes in your business, it will affect your valuation. (14:35)
  • Your business is an asset, it isn’t just a piece of cash flow. (16:00)
  • Even if you don’t sell the business, you will build a better business if you build with the thought that you want to sell it one day. (17:40)
  • I started a podcast and revealed my “business secrets”. (19:00) 

Resources Mentioned

www.alibaba.com 

www.freedomfastlane.com

https://tnvalleygroup.spotlightdev.us/category/podcast/

 

 

Thank you for listening! Please subscribe to the podcast in iTunes and if you enjoyed this interview, leave a 5 star rating and review!

 

The following two tabs change content below.

Tennessee Valley Group

Jim Cumbee established Tennessee Valley Group to help business owners fulfill their dreams for life after business ownership. It’s a mission that his 30+ year career history had prepared him well for—in addition to being an attorney, transition mediator and business broker, Jim has been a buyer, seller, and entrepreneur. His broad range of experience gives him unique insight into how business buyers and sellers can achieve their goals.

Latest posts by Tennessee Valley Group (see all)