Entrepreneurs planning an exit should speak with brokers 2-3 years before selling to understand what metrics make a business sellable, then optimize toward those metrics

52:12>> stressed so much." Like, "Yo, I'm kind of pretty stressed because this hurts every day." Also, in addition to whatever caused it in the first place, >> my first my first uh specialist I went to prescribed me like 2,000 milligrams of Tylenol a day. I was like, >> I would, if I had to make a guess, this will you're going to grow a lot over the next three years and sell it. And I

52:28think that would be pretty cool. These are fundamentally pretty tough businesses to sell. Um, you know, non-recurring niche product heavily based on your marketing genius. So, it might be that like optimizing for the exit sometimes looks different than optimizing for cash flow. And so, you want to kind of weigh those. You don't even again you can go look at some comps and be like, is there any who's done

52:50this before and exited? Well, let me go talk to them and understand like does the factors that made that a successful exit match what I what I have fundamentally in my business. But if it's just a cash flow business, that's great. Cash business can be awesome. >> Have you ever talked to any bankers or brokers? >> I haven't. >> A lot of times people only do that when

53:07they're ready to sell when you should have done it three years earlier and you find out you're like, I have a number in my mind. Just tell me what I need to achieve to make that number possible and I'm just going to go do that for two years. >> Tell me three companies you looked at that are like this. What did they sell for? why did they get that model they

53:21got? When did they do it? >> And you're like, "Okay, it could be like this revenue, this cash flow, and you know, these are the the five or six other metrics. I'll just do that for 3 years and and then I'll look up and be like, okay, >> okay." Yeah. I If you guys know any I I had some people reach out on LinkedIn about it, but they seem kind of skezy,

53:36so I was like, I'm good. >> Yeah. No, I would. So, I would talk to Quietite. They're more of a online brokerage, but they're easy to talk to. go to they if you go look at their thing they they have a lot of these like FBA businesses that they sell that like are kind of like I would say >> lower durability lower quality businesses overall but they seem to be

53:55selling so like they know how to package those what type what business is working >> quietite brokerage >> yeah.com so go to them and then go look up brokers in your space maybe like you know you just have to Google and like tell chat GB go do deep research on who s you know who are bankers that sell products like mine like I don't even know what the name of this category is,

54:13but it might be like >> noness non-medical wellness devices. Okay, cool. And >> you can you email the founders of people who have had exits and you say, "Who did you who all did you talk to?" Cuz everyone who sells at a company will talk to three or four. They'll say, "I used this person. They were great. These two were kind of good." >> But I would not delay this. What Sam