How to 10x the value of your business & where to find good staff - your Q's answered

1 Sept 2024 · 29 min
28:36

Episode 59 of the Success School Podcast (Tim Frey & Steph). Live coaching answering three audience questions: (1) social media content for virtual assistants—build a personal brand, show who you are, share client stories, proof and clear outcome-based promises rather than generic service lists; (2) selling a business—businesses valued on profit (common 1–5× annual profit multiple), systemize operations, have the business run without the owner, consult an accountant, sell within your network/competitors first, brokers can take 6–12 months and charge substantial fees (~AUD20k minimum); (3) finding quality staff—use LinkedIn/Seek and personal networks, make roles attractive (pay/culture/hours), consider simplifying the service or changing the model to avoid hires, prioritize profit over revenue. Hosts also discuss virality—Tim reports a viral post (1.7M views) but both caution that virality rarely equals sustainable business results.

Questions this video answers

Commonly a 1–5× multiple of annual profit.

Brokers usually take anywhere from 6 to 12 months.

A minimum cost for brokers was cited around AUD 20,000.

Chapters

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