I Sold My $5,000,000 Business… Here’s How | 045

The Nathan Barry Show

Thinking about selling your business? Here’s everything you need to know.

In this episode, I sit down with the amazing Cathryn Lavery to hear the incredible story of how she sold her business—and then bought it back.

We chat about the real challenges entrepreneurs face when selling a business, the must-know tips to protect yourself from making expensive mistakes, and how to secure the best deal.

Cathryn also shares how $230,000 was stolen from her business, and we dig into how she's using AI and tech solutions to stay ahead, especially in a post-COVID world.

Timestamps:
00:00 Introduction: Key Takeaways from This Business Journey
00:58 What 'Hanging Around the Hoop' Means for Your Business Strategy
03:44 How to Decide Whether to Sell Your Business
08:33 Adapting Your Business Strategy During COVID
10:25 How to Navigate the Business Selling Process: Proven Tips and Negotiation Strategies
13:59 What to Expect After Selling Your Business
17:29 Things to Know Before Selling Your Business
23:05 How to Approach Rebuying Your Business
27:57 Negotiation Tips
34:48 Starting Over: Essential Lessons and Strategies for Success
37:48 Best Ways to Use AI to Optimize Business Operations
50:10 How AI Can Improve Both Personal and Business Efficiency
55:44 How to Combat and Prevent Counterfeit Issues in Your Business
58:21 Dealing with Embezzlement: Protect Your Business from Theft
01:09:28 Advantages and Challenges of Hiring Remote Talent
01:12:21 Effective Personal Productivity Systems and Life Hacks
01:16:29 Closing Thoughts

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Learn more about The Nathan Barry Show: https://nathanbarry.com/show

Follow Nathan:
Instagram: https://www.instagram.com/nathanbarry/
LinkedIn: https://www.linkedin.com/in/nathanbarry/
Twitter: https://twitter.com/nathanbarry
Website: https://nathanbarry.com/

Follow Cathryn:
YouTube: https://www.youtube.com/@LittleMight
Twitter: https://twitter.com/cathrynlavery
TikTok: https://www.tiktok.com/@cathrynlavery
LinkedIn: https://www.linkedin.com/in/cathryn-lavery/
Instagram: https://www.instagram.com/cathryn.lavery/

Featured in this episode:
Michael Girdley - https://www.girdley.com/
BestSelf Co. - https://bestself.co/
ConvertKit (soon to be Kit) - https://convertkit.com/
ChatGPT - https://chat.openai.com/
Claude (AI assistant) - https://www.anthropic.com/
Fiverr - https://www.fiverr.com/
Final Loop - https://finaloop.com/
Super Whisper - https://superwhisper.com/
Sagan Passport - https://saganpassport.com/
Quick Hire VA - https://quickhireva.com/
Online Jobs - https://www.onlinejobs.ph/
Alexa - https://www.amazon.com/alexa
Little Talk - https://bestself.co/products/little-talk-deck
Tropical MBA - https://tropicalmba.com/
"Before the Exit" - https://a.co/d/dzlXNcH

Highlights:
03:14 Decision-Making Framework
34:48 The Struggle of Founders and Blank Slates
35:42 Nathan’s Major Shift in Management Strategy
44:42 Joining a Team Without Context: Lessons from Apple University
01:06:08 Embezzlement and Taking Vacations