#125: Growing and Selling a Company: Stories from Before, During and After the Exit

Tom Heller is a former business owner who reached out to me on LinkedIn. He joins me to tell me about his purchase and sale of his printing company. We discuss how he became an entrepreneur,  how he found the company that would become the core of his identity, and how he began to untangling himself from the business to sell it.

Tom’s story is a really common story and he is a great example of how to move forward after your sale. He shares how his life has changed and what he would suggest to lifetime entrepreneurs looking to make the transition out of the daily grind.

What you will learn:

• Tom’s background in marketing.
• The growth process of Tom’s business.
• The pros and cons of sudden business growth.
• The mistakes Tom made at the beginning of the business.
• Why you need to include an attorney in your business.
• The importance of embracing who you are in your industry.
• Why Tom decided to exit his company.
• The struggle of being professionally unemployable.
• Why there is no set equation to calculate the value of your business.
• Why Tom used a value-based price system.
• Tom’s due diligence process and lessons from it.
• How Tom dealt with his role change within the company.
• How Tom transitioned out of the company.
• Tom’s new life and future plans.

Takeaway:

When you decide to sell your company, think 1-4 years ahead so you can place your business in a favorable position to sale. To get the best deal and outcome from a sale, you need to be mindful of what you are doing now and how it will affect your company down the road.

Links and Resources:

GEXP Collaborative
Tom on LinkedIn
Implementing Value Pricing: A Radical Business Model for Professional Firms by Ron Baker

About Tom:

Tom Heller has been working in the communication field for more than 20 years. He is a resourceful leader, visionary, entrepreneur, and creative thinker. He has worked with some high profile clients and built some genuine goodwill with clients and stakeholders alike.

Tom studied design and visual communications at the University of Minnesota and marketing at the University of St. Thomas. He was the owner of Soulo Communications and exited the company as the executive account director.

Currently, he is a martial arts instructor at his local YMCA and is active in his church. He is now the director of marketing for Nativity Lutheran Church and has plans to use his experience and talents to benefit the church and his community.