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Episode 551

Sell Your Cleaing Company for Top Dollar: Episode 551: Mike Campion LIVE

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Episode 551 – Sell Your Cleaning Company for Top Dollar

So many people just run their company to “grow it” with no real picture of what that means. They end up having a “job” that they hate and can’t really sell to anyone. You WILL either sell or shut down your company. If you don’t sell it, YOU are the buyer… every day!

Selling Gets Easier and Easier:

I made LESS than my old job for the first couple of years in my cleaning company! When I sold it for six figures however, I made more on the sale than the entire time on my business. After selling my third business, I started to see themes of what made buyers salivate and choose my business over every other option including keeping their money! It’s an epiphany when you realize you still get paid when you stop cleaning, but once you get paid a bunch of money to completely stop, it changes EVERYTHING. It took me 10 years to achieve my first 7 figure sale, the second took less than three and my current business is worth more than the first two! It gets easier every time!

WHEN to prepare your business for sale:

The best time is the day you started the business, the second best time is NOW. You are selling certainty. The longer the track record you have in your business, the MORE the certainty you have. Either way, create a business you LOVE all the time. Keep in mind that the business is not sold until the check clears which can take MONTHS! In the meantime, RUN YOUR BUSINESS UNTIL THE CHECK CLEARS. (Yes caps because it’s THAT important!) Don’t sell the business when you hate it (aka a fire sale). Sell your business when you LOVE it and aren’t even sure you want to sell. The BEST thing about investing in YOU is that you get to take that with you when you sell your business. The ability to build a team and attract clients is HUGELY valuable in ANY and every business!

HOW to sell your cleaning company for top dollar:

 A lot of this is going to sound SUPER familiar! You have actually been preparing your business for sale to the degree you have been implementing the Clean Profit Method!

Tracking Money 

  • We teach the 50/30/20 breakdown: 50% is cost of good sold, 30% is overhead, and 20% is profit. The easiest way to do this is to just double your cost and that will leave room for profit and overhead.
  • IN the business (no cash)- not just for buyer, but for YOU
  • Track every dollar HONESTLY IN the business
  • Every dollar you make should be worth 2-4 dollars when you sell
  • Employees that see you steal from the government will steal from you
  • Keep an eye on addbacks (salary, cell phones, auto, house rent, eating out, travel, computer equipment, etc)
  • Allows you to have a CLEAR picture of your business

Client attraction systems

  • Leads/ Bids/ Sales for EVERY test that worked and did NOT work!
  • How to SCALE by turning up the traffic dial
  • MULTIPLE traffic dials (No more than 15% for ONE client)
  • Assets you have build
  • Email and text list
  • Online following (podcast downloads, YouTube subscribers, IG & FB Followers, etc)
  • NOTE: You can contract your services to continue creating content for additional money!

Employee attraction systems

  • Applicants/ Interviews/ Starts for EVERY test that worked and did NOT work!
  • How to SCALE by turning up the traffic dial
  • MULTIPLE traffic dials (No more than 15% for ONE client)
  • Assets you have build
  • Email and text list
  • Online following (podcast downloads, YouTube subscribers, IG & FB Followers, etc)

NOTE: You are selling two things CERTAINTY (just covered) and COMMUNITY (coming up)…

Core Values

  • The first sale is to your customers, the next is to your employees and the ultimate is to your buyer
  • YOU, your customer AND your business buyer buy on emotion and back it up with logic. Your CULTURE is what makes them WANT it, the money above gives them the logical “excuse” to pay for it!
  • This is your Unique Selling Proposition
  • Your books will be WAY BETTER than everyone else, but your buyer believes he or she can “fix” the finances
  • They KNOW they can’t create a culture like you have!
  • Your culture is what creates the final piece in the puzzle which is…

Automation

  • Jobs sell for very little- businesses sell for a TON
  • Now that the numbers beat your competition and your culture makes them WANT it, the promise of not having to work makes YOUR business COMPLETELY irresistible
  • They have been told starting a business (also your competition) isn’t profitable for YEARS and they will have to work ridiculous hours to be successful
  • Telling buyers I rarely came into the office made  it SO ATTRACTIVE!
  • A profitable/ automated business has NO pressure to sell so you won’t fall into the “checking out during escrow” trap

To sum it up, if you just build your business according to the Clean Profit Method it will automatically be of the highest value! Investing in yourself is a value you can keep AFTER the sale! Building these systems is going to ensure you are able to not only sell for top dollar when the time comes, but to have a business you LOVE, you are PROUD of and that makes MONEY between now and then!

If you enjoyed this and would like to watch this video and others like it, click here. If you are still hungry to learn more and would like to watch our free informative webinar, head over to this link and find the most suitable time for you!

If you want to TAKE ACTION NOW and get the systems and processes that the successful people are using click here.

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