In this riveting episode of Two Tall Guys Talking Sales, hosts Kevin Lawson and Sean O'Shaughnessey welcome a special guest, Marc Metz, President of Optimus Sales Group powered by Sales Xceleration and Sales Xceleration®. Together, they delve into the critical yet often overlooked topic of business transitions, providing invaluable insights and strategies for companies navigating the journey from generation to generation. This episode is a treasure trove of knowledge for business owners, sales leaders, and anyone involved in the business's lifecycle.
Key Topics Discussed
- Business Transition Strategies: Marc Metz shares his expertise on the three main ways businesses transition: selling to an outsider, passing on to family members, and employee stock ownership programs. Each method comes with its unique set of challenges and opportunities.
- Overcoming Overvaluation and Sales Dependencies: A common stumbling block for businesses pre-sale is the company's overvaluation and the heavy reliance on the owner for sales. Marc discusses strategies to realign expectations and decentralize sales efforts.
- The Importance of Building a Business to Sell: Marc emphasizes the critical nature of preparing a business for sale from day one. This involves creating robust systems and processes that ensure the business can thrive independently of the current owner.
- Sales Team Dynamics in Transitions: The discussion highlights the potential pitfalls and strategies around managing key sales personnel during a transition, ensuring their loyalty, and maintaining sales momentum under new ownership.
Key Quotes
Kevin Lawson: "How do they, get ready to get ready to sell? If they wake up tomorrow and say, I want to sell by April, they might be, might be challenged. But if they wake up and say in a few Aprils, in a few years from now. What might the recipe be that you would prescribe because you've been there done that?"
Sean O'Shaughnessey: "So I want to build on this topic a little bit more. Let's play the scenario out. ... It's just a good employee. Been around, been very loyal to the company. ... And now you're trying to sell that. So I'm, I'm foreseeing a problem of if I'm a buyer of that business, I'm saying, well, how loyal is that one salesperson?"
Marc Metz: "The first exercise I recommend to these guys and gals is hey, look what happens if you get hit by a bus tomorrow? What's going to happen to your business? Think about that and start putting things in place That'll mitigate that risk because that's the very very first thing and I'm talking all aspects operations sales financial, all of those things, look at everything."
You can listen to this podcast at the link below or you can find it on your favorite podcast player by searching for Two Tall Guys Talking Sales.
https://lnkd.in/geJtcVAA
