In this episode of Megabucks Radio, Nina Hershberger interviews Mac Lackey – a successful entrepreneur, and mentor, who shares his insights on building businesses for successful exits. Mac shares his journey from building and selling six companies to focusing on helping other entrepreneurs design their businesses with a potential exit in mind.

Key Takeaways:

• The real opportunity for a business sale is when someone buys for strategic value
• Finding alignment with potential buyers can lead to powerful exits with significant premiums paid
• Selecting buyers who need and want valuable aspects of the business is important
• One should design their businesses with the option to exit in mind
• Due diligence demands extensive documentation and organizational efficiency
• Proper paperwork and agreements can maximize the deal value
• Finding buyers outside of the industry who are trying to expand strategically can result in a premium price

Episode Overview:
Mac Lackey shares his journey from building and selling six successful companies to investing his time in helping other entrepreneurs design their businesses with a potential exit in mind. The key to selling a business is not financial metrics, but rather identifying unique aspects of the business that will entice potential buyers. Building and designing a business to be sold requires careful planning and organization to ensure all documents needed for the due diligence process are readily available. Mac also stresses the importance of identifying potential buyers outside of the industry who are trying to get into your industry strategically.

Mac Lackey is a serial entrepreneur with a diverse background in founding several successful businesses. Before venturing into entrepreneurship, Mac had a successful soccer career, playing through college and even briefly professionally. After retiring from soccer, he began working in a small software company and soon launched his first internet business in 1995, right when the commercial internet was beginning to take off. This led to an eight-figure exit in 1998 and changed his perspective on building and thinking about companies. Mac went on to found several other companies, including a media company, an apparel company, and several sports-related tech businesses. With his years of experience and multiple successes, Mac Lackey has become a prominent figure in the entrepreneurship world.

Max offered a free copy of his book: Creating the Exit Opportunity. Listeners can get this e-book at ExitDNA.com/book.

MegaBucks Radio with Nina Hershberger
https://businessinnovatorsradio.com/megabucks-radio-with-nina-hershberger

Source: https://businessinnovatorsradio.com/mac-lackey-beyond-revenue-multiples-the-real-opportunity-for-maximum-business-sale