Trent Lee | How to Determine the Value of Your Business with the Author of the #1 Amazon Best-seller The 7-Figure Exit Plan

Show Notes

Business broker and #1 Amazon best-selling business author Trent Lee joins us to share how to determine the value of your business.

NOTABLE QUOTABLE – “Later, with the help of Scooter Braun, who started a stint comanaging West in 2016, they created what appears to be an unprecedented deal: a 15% royalty on wholesale, according to sources familiar with the deal, plus a marketing fee. For comparison, Michael Jordan is thought to get royalties closer to 5%, though he doesn’t own his brand. (After publication, we clarified the time line of the Adidas deal).” https://www.forbes.com/sites/zackomalleygreenburg/2019/07/09/kanyes-second-coming-inside-the-billion-dollar-yeezy-empire/#5a3913a15ec3 

1. Yes, yes, yes and yes! Thrivetime Nation on today’s show we are interviewing the #1 Amazon best-selling author of The 7-Figure Exit Plan, a frequent Forbes contributor, and the #1 business broker in the entire country for most closed transactions. Trent, welcome onto the Thrivetime Show, how are you sir?!
2. I know that you’ve had a ton of success at this point in your career, but I would love to start off at the bottom and the very beginning of your career. What was your life like growing up and where did you grow up?
3. When did you first figure out what you wanted to do professionally?
   1. $96,000
   2. $600,000
   3. Personal expenses
   4. $50,000 one-time expenses
   5. $800,000 x 2.7 = $2,160,000
4. Trent Lee, I know that you have some incredible advice when it comes to increasing the overall value of a business…if I can I would like to ask you about 5 things a business owner can do to increase their business valuation?
5. Trent, why would a business owner want to increase the valuation of their business?
6. Trent, what kinds of questions should a business owner be asking before they go out there and hire a business broker? (8 questions to ask before hiring a business broker)
7. What is the best way to determine how much money a business is actually worth buying?
8. Trent, what are a few things to consider if you will be offering seller financing when selling your business?
9. Trent Lee, what is the best way to truly determine what a business is worth? 
10. Trent Lee How, you come across as a very proactive person…so how do you typically organize the first four hours of your and what time do you typically wake up?
11. What are a few of your daily habits that you believe have allowed you to achieve success?
12. What mentor has made the biggest impact on your career thus far?
13. What has been the biggest adversity that you’ve had to fight through during your career?
14. Trent Lee What is your favorite old school jam?
15. What advice would you give the younger version of yourself?
16. We find that most successful entrepreneurs tend to have idiosyncrasies that are actually their super powers…what idiosyncrasy do you have?
17. What message or principle that you wish you could teach everyone?
18. Trent Lee, What are a couple of books that you believe that all of our listeners should read?
19. Trent Lee You’ve got the mic, what is one thing that you want to share with the Thrive Nation before you drop the mic?