How to Exit Your Business In Record Time with Christine McDannell

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3 Minutes Read
 
Episode 271
 
Do you have a passion for digital businesses and want to learn about buying, selling, and building successful ventures in the online space? Maybe you're a business owner searching for practical advice on achieving a profitable business exit or someone intrigued by the ever-evolving landscape of e-commerce and digital marketing. In this episode, Christine McDannell, principal of the Magnolia Firm, shares her vast experience in M&A brokerage for digital online businesses and the key factors for successful business exits. This episode is for you if you want to discover the intricacies of digital business acquisitions, build a high-performing team, and achieve a lucrative exit strategy.
 
Christine is a serial entrepreneur, author, and speaker. She is the Founder & Principal Business Intermediary of The Magnolia Firm, an M&A brokerage firm helping digital business owners achieve the perfect exit.
 
Since its recent inception, Christine’s firm has helped countless entrepreneurs cross the chasm from business ownership to a successful exit, all without compromising their values or dream outcome. TMF specializes in helping owners achieve a 100% success rate for exits, with most closings coming in at either full-asking or over-asking price.
 
In this episode, we cover:
  • The key factors necessary for a successful business exit and the "superpowers" of business
  • Understanding a business's unique value and strengths is important before determining its worth and why it differs from one business to another.
  • How to successfully navigate business exits, legal drama, and multiples.
  • The age-old question, buy or build?
 
Christine's wealth of experience, resilience in the face of challenges, and keen insights into the world of M&A and digital businesses make this episode a must-listen for aspiring entrepreneurs, seasoned business owners, and anyone seeking valuable advice on navigating the entrepreneurial landscape.
 
What did you find most surprising about the process of buying and selling businesses? Have you considered using OPM (other people's money) to invest in businesses, and did this episode change your perspective on it? I'd love to hear your thoughts. Don't miss this episode, and get the latest updates on LinkedIn, or join the Growth Driven Entrepreneur Community, where we help you market, grow, and scale your business simply and sustainably.
 

3 Powerful Quotes from Christine McDannell

 
3:38 - Key to building a business that can be sold? "When you can take a month off, and the business keeps running like a well-oiled machine. I'd say that is number 1."
 
8:01 - Buy or build? "Buy because you can buy cash flow. You can use OPM, other people's money. So, buying profitable businesses. Profitable is a keyword. "
 
28:18 - "Success in business isn't just about luck. It's about creating an amazing team, building a strong reputation, and establishing recurring revenue."
 

About Christine McDannell

Christine McDannell is a serial entrepreneur, author, and speaker.
 
She is the Founder & Principal Business Intermediary of The Magnolia Firm, an M&A brokerage firm helping digital business owners achieve the perfect exit.
 
Since its recent inception, Christine’s firm has helped countless entrepreneurs cross the chasm from business ownership to a successful exit, all without compromising their values or dream outcome. TMF specializes in helping owners achieve a 100% success rate for exits, with most closings coming in at either full-asking or over-asking price.
 
After founding, growing, acquiring & selling 20+ of her own businesses across several verticals, including cleaning, wellness, beauty, technology, exotic cars, and real estate, Christine realized that there was a formula behind the perfect business sale and now dedicates her full-time attention on helping others do the same.
 
Some of her proudest achievements include creating over 200+ direct jobs through her companies since 2003 and enjoying a private breakfast with her inspiration, Richard Branson, in Paris in December 2017, honoring her contributions to the Virgin Unite Foundation. 
 
Christine has been recognized with numerous awards, including the Small Business Administration Business Person of the Year (2009) and Entrepreneur Magazine's 100 Most Brilliant Companies for her first venture, Cleanology (2010).
 
In her free time, you can catch her at live music festivals, spontaneous travel spots around the world, attending Burning Man, or playing Boat Captain in the beautiful San Diego Bay.
 

Connect with Christine McDannell

 
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Thanks for listening,
Darrell
 
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Darrell Evans

Darrell Evans is a serial entrepreneur, investor, and Co-founder/CEO of Yokel Local Digital Marketing Agency. He and his teams have helped businesses generate over $300M+ in revenue online. Every month, he leads virtual workshops teaching actionable strategies and tips from his experience helping companies market, grow and scale. To attend an upcoming workshop, click here => https://www.darrellevans.net/free-training.

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