[0:30] Jim introduces Brenda
Most recently receiving the 2020 Platinum Club Award
[2:27] Moving from telecom and high tech to an MMA
[3:30] Why maximizing the value of your agency is so important for today
You don’t want to leave money on the table
“You want to maximize the hard work you’ve done for many years in your business.” -Brenda Sali
How agencies are maximizing their value
A business owner isn’t necessarily a business person
Understand where you need to be relative to payroll and rent
Evaluate your company value by comparing to other agencies
[5:55] Brenda’s advice for an agent looking to maximize value before selling their agency
Start talking to a financial advisor three to five years before you sell the agency
Get a tax strategy
“Is this required to retain and grow the business? That’s the magic question.” -Brenda Sali
[10:49] It’s not just revenues, it’s about the way the agency was run
Recasting
Take out the one-time expenses
Look at how you’re operating in terms of payroll
[13:15] The multiples Brenda is seeing in late 2021
There’s a lot of “dry powder” that needs to be spent
“Private equity firms are prepared to pay a much higher multiple than they did even two years ago.” -Brenda Sali
They only take quality agencies to market
Keeping a database of 6,000 prospective buyers
Growing through acquisition
[17:25] How hard is remote work/multiple locations for a buyer?
The two key expenses: staffing/payroll and rent
[20:20] Agency management systems are CRUCIAL
Buyers look for commonalities in their new agency management systems
Converting from Epic to AMS 360
“It’s not so much that you need to get an easier management system for the buyer. It’s more just: have a good management system.” -Brenda Sali
[25:00] Brenda jumps in with something you NEED to get ready
When you’re thinking about selling, figure out how to get out of the Aggregator’s relationship first
Buyers don’t want to have to deal with that mess!
[27:25] Brenda’s final advice
It’s about planning and getting an evaluation
[27:50] One piece of tech that Brenda can’t live without
Her phone!
[29:20] One book that Brenda loves
How to Win Friends and Influence People by Dale Carnegie
Get a FREE Audible book (Go to: audibletrial.com/growbig)
[30:30] A time Brenda used storytelling in business to get a sale
Using a story of your own experience in a workshop or webinar
Jim’s favorite story about Brenda from a podcast
[32:32] A daily habit that leads to Brenda’s success
A “deal checklist”
Keeping a deal on track from open to close
[34:15] Re-referring to Brenda’s final advice to listeners
Understanding where you are today!
The best way to do that: have an evaluation
[35:22] Soup or marshmallows?
Soup!
