Life After Business
About This Show
Sell your business when you want, to who you want, for how much you want. Ryan Tansom’s goal is to bring you all the information he wishes he had when they sold their company. He will teach you to build the value of your business, set your timeline, and harvest your wealth during the sale so you can exit your business happy and transition into a life after with passion, purpose, and community.
Most Recent Episode
Grow Your Company and Sell It - Interview with Terry Lammers
3 days ago
We have a serious high achiever on the podcast this week - a man who managed to buy 11 companies (one in just three days) and sell his own $42 million company in just six weeks. After moving back home, Terry Lammers bought the family wholesale fuel and lubricants business. He became prolific in the marketplace by then buying up more and more of the competition. You will not find a man more experienced in the game of M & A... If you listen, you will learn… Tricks to avoid nasty taxes in a sale What you need in place to be able to sell a company in just six weeks The benefits of recurring income How Terry used the power of the Value Builder System without knowing it How best to tell employees you’re selling up How to use non-compete clauses The importance of advisors Where did Terry find the 11 competitors he bought along the way? Terry knew that in the limited area he did business, there was only a finite amount of competition and business to be had. He was always on the lookout for people that were trying to find a way out. Terry knew that once the competition was actually ready to sell, he had to jump on the opportunity. Some of the acquisitions were a bit more cumbersome and hairy (like the deal Terry explains went bad after the kind-hearted man went back on his word). However, most of the businesses that Terry bought had returns that the best of us could only dream of! How were most of the deals structured? Terry had a knack for knowing exactly what a business was worth to the seller and how to make it a great deal for both sides. He didn't just let the professionals dictate the terms and conditions for the deal...he made a huge effort to make it a no-brainer for everyone. Some of the deals were bonus structures (earnouts), some were cash offers, some were stock purchases, and others were a combination. The only thing on Terry's mind was to find a way to make a deal fair for everyone involved and get it done! What did Terry do differently because of his experience buying companies? After buying 11 other companies over the course of owning Tri-County Petroleum, Terry realized that things really needed to be buttoned up if a good deal was to be made. Following are some of the top things he did with intention before the sale of