Mar 19, 2018
In the 10th episode of the Confident Wealth Podcast, Bill Bush
and Pete Bush talk with Camm Morton from VR Business Brokers. Camm
discusses his background and credentials in the business exit
sector, how VR Business Brokers works for buyers and sellers, and
the best practices involved.
Time Stamped Show Notes:
- 00:40 – Guest Cam Morton is introduced, including spending over
30-40 years in finance. He focuses on helping people deal with
business exit planning.
- 01:44 – VR Business Brokers is a world-wide business exit firm
that brings buyers and sellers together.
- 02:38 – VR gives a free business valuation to people. 90% of
business probably never thought about how they will exit. Plan
- 05:08 – The steps, which should begin at least two years ahead
include: establish a broad range value, figure out what you want to
do during retirement, how much money you need during retirement, do
you have a team?
- 06:44 – Camm is VR’s exit planning specialist, one of about 600
in the United States that is certified.
- 07:21 – Many companies operate as “lifestyle companies” that
aren’t organized for an exit situation. Emotions can run
- 09:36 – Finding a buyer requires meeting with buyers in similar
industries, list the business without saying who it is, and screen
potential buyers and help them with loans and structuring the
- 12:18 – Industries that are easiest to move are well-priced and
businesses that do businesses with other businesses. Manufacturing
- 14:07 – VR has dealt with a client that wasn’t honest about
their businesses’ finances and a client that died two weeks after
the deal closed.
- 15:54 – Only 10-20% of businesses that are typically $15
million companies and below ever sell.
- 17:03 – Successful business owner’s businesses often represents
80-90% of their entire net worth.
- 18:57 – Concentrate to accumulate. Diversify to protect.
- 19:03 – Camm Morton’s contact information:
3 Key Points:
- Camm is VR’s exit planning specialist, one of about 600 in the
United States that is certified.
- Only 10-20% of businesses that are typically $15 million
companies and below ever sell.
- Successful business owner’s business often represents 80-90% of
their entire net worth.
- “We like to be in the half a million to one
million, or up to $15 million range as selling price.” – Camm
- “I think the most common mistake is not
knowing the value of your company.” – Camm Morton.
- “You don’t have to be perfect, you just have
to be better than the other 80% out there in order to get a decent
value.” – Camm Morton.