Sell Smart: Build Wealth Early!
Chris Johnsen, a civil attorney specializing in business law, shares insights on selling a business and the importance of building structures and systems to make a business more marketable. He emphasizes the need to start thinking about selling a business about five years in advance and recommends resources like the book 'Clockwork' and the podcast by John Warrillow.
Chris also discusses the significance of having clean and organized books, the role of attorneys in the selling process, and the benefits of infinite banking and self-directed investing.
Takeaways
• Start thinking about selling a business about five years in advance and focus on building structures and systems that make the business more marketable.
• Having clean and organized books is crucial for a successful business sale.
• Consider working with an attorney to navigate the selling process and protect your interests.
• Explore the concept of infinite banking and self-directed investing as alternative financial strategies.
Sound Bites
• Start thinking about these things about five years out from the time that you want to sell your practice.
• The number one deal killer is messy books.
• It makes sense to meet with an attorney early on, even right after starting a business, to optimize the rate of return when selling.
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