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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Feb 22, 2018

In episode 27 of Financially Simple, Justin looks at the process of selling your Business by Auction.

Auctioning a Business is similar to auctioning a car or a cow - but there are some differences and thing that a Business owner should first consider. Justin goes over the basics of auctioning a Business for sale, how they work, what is needed, and whether or not an auction is the best tactic for selling your Business.

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TRANSCRIPT: What’s The Best Way to Sell Your Business? Auction or Private Sale? – Post #27



00:33 - Can I get a bid or not?

02:52 - Selling your Business by Auction

03:35 - Is this a good deal?

06:29 - How does an Auction work?

09:37 - Should I use an Auction?

10:45 - You need a plan in place

12:23 - When should you use an Auction?

14:42 - Reasons not to Auction

17:03 - In Summary

For more in-depth reading about this podcast series, pick up a copy of Justin's new book: The Ultimate Sale



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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.