Episode 283: Terry Lammers – What You Need to Know When Selling Your Business

Episode 283: Terry Lammers – What You Need to Know When Selling Your Business

Overview

Terry Lammers grew up watching his parents run their own company in the fuel & lubricants industry, and eventually came on as a full-time employee in the early 90’s and took over as president of the company. In just 18 years, TriCounty Petroleum had purchased 11 different companies, growing Terry’s family business from $750,000 annual sales to over $40 million when the company was sold in 2010.

Today, as co-founder and managing member of Innovative Business Advisors, Terry taps into his financial expertise and hands-on business experience to advise and guide prospective business owners who are interested in buying, as well as current business owners looking to sell their enterprises.

In his new book You Don’t Know What You Don’t Know, Terry provides an in-depth examination of the process of buying, growing, and eventually selling a business. Through Terry’s guidance, business owners and aspiring business owners are sure to walk away with a wealth of knowledge and advice to lead them down the path to business success in every stage.

 

What We Dig Into

  • Why Gross Profit and Cash Flow are more important than Sales & Net Income
  • Why acquisition is the best way to grow your business.
  • The must haves that you need in place when selling your business.
  • Mitigating your tax exposure when selling your business.
  • How (and when) to tell your employees that you’re selling your business.

Resources

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