The Ultimate Pay Day, Online Business Exits & A DEEPER Dive Into 51 Businesses Good In A Bad Economy
This Week On How2Exit, Chatting With Two Exit Experts About Great Ways to Optimize Exit Value - DEEPER into Good Businesses for Bad Economies.
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Christian Haack is a business development strategy consultant that likes to be referred to as the Exit Angel and is located in Germany. He is currently working with clients from all over the world. He originally worked as a consultant for big companies, focusing on process optimization, process excellence, and other services to help companies get ready for mergers and investments. His daughter's question of why he is working so hard made him want to create a business that would allow him to earn money while spending more time with his family. He now specializes in helping companies prepare for mergers and acquisitions and has become an expert in the space.
In this conversation, Christian Haack discussed the entrepreneur triangle, which is a triangle with money, effort, and time as its three edges. People often become stuck in the middle of this triangle, unable to progress because they have to invest more time, money, or effort. Haack suggests that the success at the top of the triangle is not owned, but rented, as you always have to work for it. In addition, he mentions that, as more and more people figure out how to make something profitable, such as with Facebook ads, the space becomes crowded and the returns diminish. This cycle is repetitive, and requires people to continually find new ways to make their businesses profitable.
Christian Haack helps people monetize their hard-earned achievements by helping them find an ultimate payday at the end. He encourages people to shift their mindset from what they can do for their business to what their business can do for them. He helps people define their life goals and designs their business to help them achieve them. He believes that once money is no longer an issue, people can have unlimited creativity to achieve greater things such as Elon Musk and Jeff Bezos. He also encourages people to consider scaling and selling their business, which could lead to even greater success and opportunity. Listen here: (56:16)
Read our notes on this interview: 11 Things We Learned about M&A by Interviewing Christian Haack
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E106: Nate Lind- From Start-Up Success To Selling $100M Worth In Transactions as a Broker - How2Exit
Nate Lind is an author of “Maximum Exit: The Definitive Guide for Internet & Technology-Focused Business Founders” and business broker at Website Closers. He has had a long career in the internet business, starting from a failed acquisition attempt. After realizing the scalability and potential of supplements and vitamins, he went on to launch his own business. At one point, his business was booming, selling up to $36 million in beard care products and sponsoring the World Beard and Mustache Competition in Austin, Texas. Nate has a wealth of experience in the industry, including logistics and operations, credit card processing, customer service, and fulfillment.
The speaker had built a technology around e-commerce that helped him understand and analyze his profitability. After investing a significant amount of money, he sold the piece of technology to a shopping cart in 2016. The shopping cart entity had heard of the speaker and reached out to him, offering to purchase the technology. After sharing what he thought was a crazy number, he ended up negotiating a deal for 10 times the cost of his parents' home. This led him to meeting the founders of website closers, Jason Iran, who had been selling their business with them. After a few conversations, he was meeting with them at different events.
Nate Lind is a broker who specializes in helping entrepreneurs sell their businesses. He started this career in 2020, with the pandemic making the first year challenging. However, since then, he has sold close to 40 million dollars worth of companies, and 16 companies in the last year and a half, all totaling up to a hundred million dollars in transactions. He loves the work, as it allows him to help families put away money for passive income, something many people forget to do after reading Rich Dad, Poor Dad. Listen Here: (56:33)
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This week’s “DEEPER” Dive: 51 Businesses You Should Still Look At Buying During a Recession
In times of economic downturns and recessions, many businesses struggle to stay afloat. However, there are still opportunities for entrepreneurs to invest in businesses that can weather the storm and even thrive during tough economic times. In this list, we will highlight 51 businesses that entrepreneurs should consider buying even during economic downturns. I hope this gets your gears turning
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