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87% of business owners will never successfully exit their company. Nicole and Thano Emerick spend every day making sure their clients are not in that number.
Alex Sheridan sits down with husband-and-wife team Nicole and Thano Emerick, Partner and President of Exit Factor of Western Chicagoland, to unpack why most businesses fail to sell.
Founders learn why owner dependency caps valuation, why messy books scare off buyers, why revenue means nothing without profit, and why even a successful exit can leave a founder feeling lost.
Key takeaways:
00:00:00 Introduction
Q: Why does owner dependency lower a business's sale value?
A: Thano Emerick explains that when a business fully runs through its owner, buyers see it as high risk and untransferable.
Q: Why do successful exits often lead to regret?
A: Thano Emerick cites a study showing 75% of owners who exit successfully still feel dissatisfaction after losing their sense of purpose.
Q: Why does profit matter more than revenue when selling a business?
A: Nicole Emerick and Thano Emerick explain a business with no profit may not be sellable, popularizing the line revenue is vanity, profit is sanity.
Q: Do most business owners know what their company is worth?
A: Nicole Emerick estimates 80% of an owner's net worth is tied up in their business, and most owners don't know what it is worth.
Q: Does an online presence affect what buyers will pay for a business?
A: Nicole Emerick explains sellers with no online presence get discounted because buyers must spend years rebuilding the brand themselves.
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🔗 CONNECT WITH Nicole & Thano
Nicole: https://www.linkedin.com/in/nicoleemerick/
Thano: https://www.linkedin.com/in/thanoemerick/
Website: https://exitfactor.com/offices/western-chicagoland/
Mastermind: https://exitwellmastermind.com/
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