Bill Patten is the President and Owner of Sunbelt Business Brokers of Portland, a company that helps business owners value, price, and buy or sell their businesses. Bill has been in business for over 40 years and has successfully purchased and sold four businesses. One of his businesses earned recognition from Inc. magazine as one of the 500 fastest-growing privately held businesses in the country. He uses his expertise to help other business owners sell or buy their businesses.
Here’s a glimpse of what you’ll learn:
- Bill Patten explains when a business is not ready to be sold
- Why business owners need accurate financial statements
- The value of building a management team and hiring dedicated employees
- Bill and Adi Klevit discuss the benefits of evaluating business data
- When should you start improving your business processes and documentation?
- The best mindset for addressing business challenges
- When is the right time to contact a business broker?
- How Bill helps business owners evaluate a business before selling
- How to make your business more attractive to investors
In this episode:
What systems and processes do you need to have in place to prepare for selling your business? How can you increase your company's value to make it more attractive to investors?
Some of the most significant factors that determine the sellability of a business include its cash flow, turnover rate, and level of risk. To prepare your business for sale, build a thriving company that separates you from the crowd and makes you stand out from your competitors. Bill Patten's advice is to create barriers to entry to protect your business from competitors. This includes getting intellectual property protection, creating solid systems and processes, and increasing your cash flow.
Bill Patten, the President and Owner of Sunbelt Business Brokers of Portland, joins Adi Klevit in this episode of the Systems Simplified podcast to talk about preparing your business to be sold. They discuss the signs that a business is not ready to be sold, improving your systems and processes, the right time to contact a business broker, and how to make your company more attractive to investors.
Resources mentioned in this episode:
- Adi Klevit on LinkedIn
- Business Success Consulting Group
- Sunbelt Business Brokers
- Sunbelt Business Brokers of Portland
- Bill Patten on LinkedIn
- Bill Patten's email: bill.patten@sunbeltnetwork.com
- Bill Patten's phone number: 360-921-1823
Sponsor for this episode:
This episode is brought to you by Business Success Consulting Group.
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