Small Business Solutions

Transcript

Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today’s episode, they are joined by the experts to dive deep into small business solutions and some of the most relevant issues business owners are facing nowadays.

Devin Miller, from Miller IP Law, is sharing about his own business and how he decided to disrupt the IP Law arena. Tracey Bissett, from Bissett Financial Fitness, is talking about books and records, which is the number one trending topic in regards to business success. Mark Tremblay, from Transworld’s office, located in Boston, is sharing his knowledge about labor at a small business, which can be the biggest headache for business owners.

Listing of the week: Justin Lefebure (Central Florida) is selling a roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA. Call Justin at (772) 925-2675 or email [email protected].

Key Takeaways

[3:42] Devin Miller, from Miller IP Law.

[4:00] Devin shares tips for small business owners about IP (Intellectual Property).

[6:28] Devin explains the possible consequences of not paying attention to copyrights and trademarks.

[9:00] Devin speaks about the difference between copyrights and trademarks.

[10:28] How does Miller IP Law help people?

[13:47] Deal of the week: Aaron Fox (North Boston) sold a daycare after solving many challenges imposed by the strike of COVID-19. Sold at 2.1 multiple of the SDE, with a total price of $1 million.

[19:20] Tracey Bissett, from Bissett Financial Fitness.

[20:37] What are the biggest mistakes entrepreneurs make when it comes to their finances?

[21:44] If you have delegated all your financial information and decisions, what is the first step to start getting involved?

[22:44] Tracey explains how to really start making money in your business.

[25:46] Can you articulate the big numbers in your business?

[26:34] Tracey talks about what really matters in a financial statement.

[29:54] Tracey shares the areas in which entrepreneurs tend to excel.

[32:18] What do business entrepreneurs need to be accountable for when it comes to their finances?

[34:20] EBITDA cannot be a true reflection of a business.

[36:00] Tracey gives advice to all business owners that want to start to straighten up their finances.

[38:19] Listing of the week: Justin Lefebure (Central Florida). Roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA.

[41:22] Mark Tremblay (Boston) talks about his previous business and how he overcame the issue of labor.

[44:16] How to assure you are giving remarkable service.

[45:36] Mark recommends young people to get into a small business.

Show Notes

Mentioned in this Episode:

The Deal Board Podcast

United Franchise Group

Transworld Business Advisors

Transworld on Linkedin

Transworld on Facebook

Call us — (888) 711-9018

Email us [email protected]

Call Aaron Fox at (781) 773-8922 or email [email protected]

Call Justin Lefebure at (772) 925-2675 or email [email protected]

Call Mark Tremblay at (617) 299-9796

Miller IP Law

Fee Strategy Meeting

Meet Devin Miller

Bissett Financial Fitness

Money Meeting Agenda

Tracey Bissett on Linkedin

Mentioned in This Episode

• The Deal Board Podcast
• The Deal Board on YouTube
• Transworld Business Advisors
• Transworld on LinkedIn
• Transworld on Facebook
• United Franchise Group
• Miller IP Law
• Free Strategy Meeting
• Meet with Devin Miller
• Bissett Financial Fitness
• Money Meeting Agenda
• Tracey Bissett on LinkedIn