Short Q&A excerpt from the video advising business owners who plan to sell within a few years. Key recommendations: adopt a service site and digitalize operations (eliminate paper invoices/estimates), invest in your tech stack and CRM for automation and scalability, build a strong brand and online presence with good reviews, develop a reliable team, and use lead/marketing aggregators (speaker cites Angie ads/Angie leads) to drive revenue. Emphasizes buyers (private equity) value scalable, non-manual processes.
What is your no BS advice to the owner who you know, wants to sell in the next couple years but has no idea where to start?
Get on service site, invest in your tech stack, right? Like that's where the world's going is technology, right? So you have to be five steps ahead of your, your competitors. So getting on service site is going to allow you to digitalize everything, right? So you don't have paper invoices. If there's still people out there that are utilizing paper estimates, it'll help you track your marketing, right? League aggregators. Get on league aggregators, that's huge for us. So our top three are Angie ads, Angie leads networks and they help us tremendously contribute to revenue. And if you just look at the key aspects, a good CRM, a good brand, good reviews and presence in the marketplace, and a good team, everything else is fixable, right? Like if you have those key things in place when you go back to PE2, you have to remember they want things that are scalable, they can't be manual. And that's where the CRM is important, all the automation. And that's why I say focus on your tech stack back because all that tech can be lightning speed, be scalable.