How to Buy, Build, and Sell a Business
“Jim Lindstrom bought and overhauled a business named BuzzWord that he eventually sold for a nice profit. In this episode we share with you how to buy and build a company for a future sale,” shares Sam Thompson a Minneapolis business broker and the president of M&A firm Transitions In Business.
In this episode of Built to Sell Radio, Jim Lindstrom discusses how he acquired BuzzWord, a company specializing in ESG (Environmental, Social, and Governance) reporting. Lindstrom explains how he built a killer culture by transforming contractors into full-time employees and incentivizing them with a two-part profit-sharing scheme focused on cash flow and EBITDA, setting the business up for a future sale.
Here’s what you’ll discover:
- How to identify acquisition opportunities and assess their growth potential
- How to retain key talent and transition contractors into long-term employees
- The key to implementing an innovative, two-part profit-sharing plan that incentivizes both cash flow and EBITDA
- How to build a business to position it for a profitable sale
- How to manage the risks and rewards of relying on contractor-based teams
- Lindstrom’s experience, which highlights the strategy behind buying, building, and preparing a business for future sale