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Ep. 506: How to Sell Your Business With Investment Banker Greg Smith
20 ideas de marketing sacadas de «Ep. 506: How to Sell Your Business With Investment Banker Greg Smith», de Perpetual Traffic. Sobre todo de estrategia y…
- 20 ideas despiezadas
- Fuente Perpetual Traffic
- Dura 1 h 02 min
- Publicada en 2023
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Estrategia y decisiones de negocioCuando una negociación entra en pausa o el comprador se distancia, el vendedor nunca debe contraofertar su propia propuesta ni bajar el precio de forma reactiva. A menudo, el estancamiento se debe a factores ajenos a la valoración (como financiamiento o trámites regulatorios del comprador), y reducir el precio unilateralmente solo destruye valor y denota desesperación.
cosm that it's human nature for people to say is the deal dead why did it die it must be price maybe it was too much I and I'm willing to lower my price and it's like that is the worst thing you can do you never counter your own counter you never counter your own offer and it may not be priced at all it might be just the deal has to take a rest because something else got in the way maybe the buyer's funding fell apart number of times let the deal come back to you don't call them don't email don't get anxious just wait this deal will
Escúchalo en el minuto 23:17
Estrategia y decisiones de negocioEn transacciones de compraventa de empresas, es habitual que las negociaciones parezcan fracasar en repetidas ocasiones por choques de egos, fricciones en la 'due diligence' o pausas operativas del comprador. El vendedor no debe abandonar la mesa ni romper unilateralmente el proceso; mantener una postura calmada y disponible facilita que el comprador retome la conversación una vez resueltos sus bloqueos.
every deal dies three times oh yeah of yeah it's it's true at least in my experience uh people blow up egos get in the way somebody gets their head on a joint on something something is discovered in due diligence and eight and yet we never leave the table that's another rule we never leave the table somebody else wants to leave the table that's fine usually they'll come back that your deal is going to die multiple times and when I say die I mean you think it's truly done it's broken you're you've assigned never leave the table instance where you just sit there calmly and quietly and you're…
Escúchalo en el minuto 21:29
Auditar la proporción de escucha frente a habla en llamadas de ventas con software de inteligencia conversacional
ConversiónImplementar herramientas de inteligencia conversacional (como Gong.io) permite registrar y medir objetivamente el porcentaje exacto de tiempo que los representantes comerciales pasan escuchando frente al tiempo que pasan hablando durante sus llamadas.
mentioned an AI tool which actually does do this and we are we are actively testing this inside tier 11 for our sales calls it's called gong.io and it actually tells you what your percentage of listening versus Talking is so you can take Greg's advice here and start applying it to your sales calls and maybe to your
Escúchalo en el minuto 4:29
Estrategia y decisiones de negocioEn la venta de una empresa, los compradores estratégicos suelen pagar múltiplos más altos y ofrecer mejores condiciones que los compradores financieros. Mientras que el comprador financiero solo busca adquirir flujo de caja existente para obtener un retorno pasivo sobre el capital invertido, el comprador estratégico busca sinergias de expansión vertical u horizontal, como la venta cruzada de servicios entre carteras…
buyers just want to park money and get a return on their investment and they see but they're not bolting it on to anything they're not appending it to another existing business a strategic and strategics might be expanding either vertically or horizontally often find the Strategic buyer will will be the uh the bigger price and the concept for me was a financial buyer was going to come basically by my income and a strategic buyer would be somebody who sells Facebook ads I've got 100 clients now they get all of my income but they also get to sell all hundred of their Facebook clients my Google…
Escúchalo en el minuto 40:43
Proporción óptima entre hablar y escuchar en llamadas de ventas B2B
ConversiónLa tasa de conversión más alta en llamadas de ventas B2B se logra con una proporción aproximada de 43% de tiempo hablando y 57% escuchando, en marcado contraste con el vendedor promedio que suele hablar el 72% del tiempo y escuchar solo el 28%. Permitir que el prospecto hable la mayor parte del tiempo incrementa su confianza en la relación comercial.
his his nugget I'm on this article from gong right now uh talking about talk to listen ratio and they analyzed however uh the the analysis revealed the highest converting talk to listen ratio on B2B sales calls is approximately 43 to 57. so you're talking 43 of the time and you're listening 57 of the time zoom out what they found is the average talk to listen ratio was 72 to 28. so Carnegie's message is that the more people talk to you the more confidence they build in you because they now have a listener and they're talking to the many times that the more I let people talk the more they're…
Escúchalo en el minuto 5:06
Estrategia y decisiones de negocioEn la venta de una empresa, la estructura y las condiciones del contrato (plazos, garantías y forma de pago) son más determinantes que la cifra de venta bruta, ya que dictan el capital real y protegido que efectivamente percibirá el fundador.
surprise was the fact that price isn't the most important thing surprised to learn how important terms negotiating terms became maybe more important than negotiating the price because the terms are really what dictate what you walk away with and how protected you are and and the real value of the deal there's a but you can't eat paper
Escúchalo en el minuto 25:06
Estrategia y decisiones de negocioAnte la resistencia o desconfianza del personal hacia un nuevo liderazgo, involucrarse físicamente en los puestos más duros de la operación y agradecer personalmente su labor genera aceptación y compromiso mucho más rápido que la autoridad formal.
and so I just decided that day that morning to get myself into a pair of jeans and some steel toed boots and within two hours I was on the runway tossing bags with the baggage handlers then I went to the kitchen in the afternoon and got cleaned up and I cooked meals for three or four hours the crews at one and two o'clock in the morning when the planes are coming back and tell them who I was tell them how much they were appreciated but I was new and I had to you know I had to find a way I had to find a way Ralph to connect with people after that I was you know kind of accepted maybe he could…
Escúchalo en el minuto 58:43
Estructuras de contraprestación en transacciones de adquisición de empresas
Estrategia y decisiones de negocioEl valor de liquidación en una venta corporativa suele componerse de diversas divisas de pago: efectivo inmediato, notas financiadas por el propio vendedor, acciones de la entidad compradora y pagos variables condicionados al desempeño (earnouts).
terms and conditions and there's many forms of currency when you sell a business one form of currency might be your very own currency which is you're selling it on a note hmm where you're transaction a seller may actually Finance part of the proceeds for the transaction itself but cash of course is a nice currency equity in the buyers and other currency earn outs going into the future as a portion of the sale proceeds is a currency
Escúchalo en el minuto 27:38
Riesgo de ofertas no solicitadas en la venta de una agencia o negocio
Estrategia y decisiones de negocioRecibir decenas de ofertas no solicitadas de compra no garantiza un buen acuerdo: la gran mayoría pueden ser inviables, engañosas o infladas con múltiplos irreales, por lo que se requiere asesoría financiera especializada para filtrar y estructurar una salida real que suele tardar cerca de un año.
don't know I sold Solutions in October um but I I took a modest eight-figure exit and Greg I had 40 unsolicited offers which what's interesting is I'm pretty sure 39 of them were scams and that's the problem if you don't have somebody like Greg looking over your shoulder you know I had 40 unsolicited offers and some of them looked you know big massive Ivory Tower uh family offices or small investment banking firms or other agencies and everybody's promising you that the world and you know the multiples feel like outlandish and you just don't know what to look at how to entire process and it…
Escúchalo en el minuto 11:46
Estrategia y decisiones de negocioEn la venta de una empresa, los compradores estratégicos suelen pagar un precio superior al de los compradores financieros debido a que buscan sinergias (adquisiciones tipo 'bolt-on'), complementar activos existentes o expandir su presencia en un vertical específico, mientras que el comprador financiero evalúa la operación primordialmente por su retorno directo sobre la inversión.
course buyers may be strategic or they may be Financial or they may be both but the Strategic buyers are typically the ones that will pay the most because there's a bolt on or as part of maybe something they already own or to build their presence in a particular industry vertical they will pay more than a financial uh buyer who's simply looking for a return on investment
Escúchalo en el minuto 18:07
ConversiónEn negociaciones y procesos de venta, contener el ego y escuchar pacientemente a la contraparte otorga una ventaja competitiva decisiva, ya que las personas tienden a hablar de más y revelar información clave cuando se les permite expresarse sin interrupciones.
me a competitive advantage in negotiations because as people talk they tend to talk too much and they tend to give themselves away but all too often people let their ego get in the way and if we can suppress the ego a little bit and just be patient listeners we'll you that many times this gives me a competitive advantage in negotiations because as people talk they tend to talk too much and they talk tend to give themselves away but all too often people let their ego get in the way and if we can suppress the ego a little bit and just be patient one of the keys to sales into selling is not…
Escúchalo en el minuto 0:09
Estrategia y decisiones de negocioAl recibir ofertas de adquisición no solicitadas, el vendedor debe realizar 'due diligence' sobre el proponente (verificando su respaldo de capital, capacidad real de cierre y motivación estratégica) antes de comprometer tiempo o firmar cláusulas de exclusividad que retiren el negocio del mercado.
time and people wanting to get you into an agreement that might be exclusive and take you off the market so they could and I think it would be very easy for young uh inexperienced business owners to be tempted to take one of those sounds great smooth exit but there's so much due diligence to be done on a buyer before my questions back to him were how well-funded is the company the buyer can they close a deal what is their motivation
Escúchalo en el minuto 17:20
Estrategia y decisiones de negocioDestinar el 25% del ingreso operativo neto a los empleados crea un incentivo colectivo que fomenta la proactividad de todo el equipo en la atención al cliente y la resolución de problemas diarios.
just the fact that you 25 of net operating income goes back to the employees like that that's outstanding when we had it it was uh everybody was pulling on the same rope every day I mean if there was gum in the seats uh the pilots who clean it up I mean the flight attendants they would crack back their break their back to help a a passenger with any need that they might
Escúchalo en el minuto 55:33
Estrategia y decisiones de negocioDestinar el 25% del ingreso operativo neto a los empleados crea un incentivo colectivo que fomenta la proactividad de todo el equipo en la atención al cliente y la resolución de problemas diarios.
just the fact that you 25 of net operating income goes back to the employees like that that's outstanding when we had it it was uh everybody was pulling on the same rope every day I mean if there was gum in the seats uh the pilots who clean it up I mean the flight attendants they would crack back their break their back to help a a passenger with any need that they might
Escúchalo en el minuto 55:33
Estrategia y decisiones de negocioUn comprador financiero valora un negocio principalmente por su flujo de caja y EBITDA actual, mientras que un comprador estratégico puede estar dispuesto a pagar múltiplos sobre ingresos aun con EBITDA negativo si el negocio le ofrece posicionamiento geográfico, equipo gestor o sinergias para integrarlo como plataforma con otros activos.
what they thought their company was worth was a multiple of six their ebitda is negative company in the marketplace is 6X on revenue or 37 or 38 million of Revenue they're thinking they have a 220 million but it might be to a strategic buyer not to a financial buyer and the buyer has a balance sheet backed by one and a half billion of cash on their balance sheet this is a strategic and is looking for a solid U.S foothold company with extraordinary management extraordinary technology to become a platform do you think they're going to be concerned about 3 million of minus ebitda or 3 million of…
Escúchalo en el minuto 37:49
Estrategia y decisiones de negocioPara comparar y valorar empresas de manera estandarizada, se utiliza el EBITDA (ganancias antes de intereses, impuestos, depreciación y amortización), ya que refleja el flujo de caja operativo real. Esta métrica aísla distorsiones que no representan salidas de efectivo inmediatas (depreciación y amortización), diferencias en el apalancamiento financiero (intereses de deuda) y disparidades según la estructura fiscal…
okay let me do that uh ebitda first of all is a mnemonic for earnings before interest taxes depreciation and amortization and why that's important is because it enables us to look at any company in any industry and normalize its cash flow so ebitda is really all about cash flow depreciation is not a cash expense amortization is not a cash expense those are just bookkeeping entries to give life to a fixed asset interest is variable a company may be financed and have interest expense or may have no debt it has no interest expense so when we start talking about ebitda we put all companies up on…
Escúchalo en el minuto 32:26
Diferimiento fiscal versus riesgo de mercado al recibir acciones como pago de venta
Estrategia y decisiones de negocioAceptar capital accionario del comprador difiere el impacto fiscal sobre las ganancias hasta la liquidación y permite participar del crecimiento futuro, pero somete el valor del cobro a la volatilidad del mercado bursátil.
because if you're taking Equity first of all it's tax deferred until you take that Equity to cash and secondly if it's equity in a publicly traded company you might get a double or a triple before you liquidate and that's a double there was no tax on it of money this was all pre-tax money tax pretty sweet but of course then 2008 came along and Wells Fargo stock was trading at eight dollars so when do you sell there is a flip side
Escúchalo en el minuto 28:35
Estrategia y decisiones de negocioPara revertir un EBITDA negativo en una situación de crisis, recortar temporalmente costes y salarios combinado con la implementación de un agresivo plan de reparto de utilidades (25% del beneficio neto) alinea al equipo para escalar la facturación de 50 a 250 millones de dólares y el EBITDA a 24 millones.
Airline into negative ebitda hand I ended up laying off one third of I went to zero compensation I asked everybody that stayed on to take a 30 paid cut and we cut a third of the but we also put together a profit net income into profit sharing for the employees 25 percent person back build the workforce up to 750 take the 50 million dollars of Revenue turn it into 250 million dollars of Revenue and build the ebitda to about 24 million dollars of ebitda
Escúchalo en el minuto 52:17
Criterio de madurez para avanzar de ronda semilla a Serie A o B
Estrategia y decisiones de negocioLas rondas semilla financian empresas en etapa de idea o desarrollo de producto previa a la generación de ingresos estables, mientras que el salto a rondas Serie A o B exige que la empresa ya esté vendiendo, genere ingresos y cuente con métricas operativas (márgenes, EBITDA o flujo de caja) comparables con el resto de la industria.
and companies at that stage that are bringing money in before they maybe have no Revenue maybe they're just an idea or maybe they have a product or maybe um will enable investors to invest and that might be considered a seed round grow something so that's a seed round and that is considered Venture money once we have a company that actually is selling something and has revenue and hopefully soon earnings or maybe ebitda cash flow then that company if it needs more Capital will move forward into what's called a series A or series B round of capital now we have a more mature company we have a…
Escúchalo en el minuto 35:10
Estrategia y decisiones de negocioA diferencia de la creencia común de que las grandes corporaciones operan bajo reglas estrictas y análisis puramente lógicos, muchas decisiones multimillonarias se toman de forma emocional, creativa y sin pautas definidas, aumentando la volatilidad conforme crece la escala.
um there's not a lot of difference between big business and small business to the big business everybody's sophisticated educated they make logical decisions they only think with their mind they have nothing but analysts and you know charts and graphs and data and the rules and it felt like the exact opposite there's so much the rules are outlined and it's wildly creative and very emotional making 100 million dollar decisions that are doing so because they're mad or they more volatile not less volatile as you get bigger and as the numbers get bigger the volatility increases and part of that…
Escúchalo en el minuto 46:58
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