The short answer
Jeffrey Deckman shares his story of building and timing a successful business sale, including the market knowledge and emotional readiness that shaped when he went to market.
Key takeaways
- The major segments of prepping your business: Micro, Macro, and PEST Analysis
- Mitigating conflicts with your business partners
- #1 rule in any transaction: Don’t damage the asset
- Joseph Campbell’s Hero’s Journey and how it relates to your business
Listen to the podcast
51 minWatch the full interview
About this episode
When Jeffrey Deckman grew up, he wanted to be a cowboy.
But instead of strapping on spurs and galloping off into the distance, he suited up and steered himself into a future in the boardroom. That is, until one day, about 15 years into his second business, he unequivocally decided he needed out.
Learn how he decided it was time to leave, why he decided to sell to his partners, how he did it without involving an external team, and where he set his sights on next.
Chapters
- 4:14In his early 20s, Jeffrey and a contractor set off to start their own wiring company, growing it to 108 employees in four offices across four states over seven years before it crashed and burned. Rather than get a job, he decided to start another company instead
- 11:47Synet, his second business, didn’t break a million dollars in nine years, even after getting to $750k in the first 18 months. Then, with the right hires, in four years, that jumped to $5M
- 21:52With a multi-million-dollar business, a national reputation in the industry, and a parking spot, Jeffrey decided it was time to sell. Why? Because he just wasn’t happy
- 25:09How they sold the business was unique. They didn’t use a broker, they avoided roll-ups, and instead did it themselves – even with the infighting among the partners. Here’s how he valued the business, as well as managed the relationships throughout the process
- 36:43Entrepreneurship is one of the most powerful journeys of self-discovery you can go on. Often, you’re under incredible stress with no one there to help you. Jeffrey believes it builds clarity around “Who am I under pressure, what do I do, and how do I go through that."
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About Jeffrey Deckman
Jeffrey Deckman is a nationally recognised thought leader and award winning author on the next evolution of leadership: Conscious Leadership. His recently published book: “Developing the Conscious Leadership Mindset for the 21st Century” won a total of four national and international Stevie Awards® and is an Amazon best seller in the Occupational and Organisational Psychology category. He also won the 2021 International Business Awards bronze medal for ‘Innovator of the Year’.
Jeffrey is a serial entrepreneur who has bootstrapped 2 multi-million dollar companies, several non-profits, and multiple political organisations. Since 2005 he has been a leadership and organisational performance consultant and leadership coach. He’s helped scores of clients grow by strengthening their leadership teams and helping them uncover, then mobilise, the hidden human capital that drives performance and profits in the 21st century. Jeffrey is a member of the Forbes Coaches Council and regularly publishes on the Forbes.com blog.
Connect with Jeffrey Deckman
About the show
Buy Grow Sell is hosted by Simon Bedard, founder and managing director of Exit Advisory Group, a boutique mergers and acquisitions advisory firm that helps Australian business owners value, prepare for and navigate a sale. Every conversation draws on real deals and the patterns behind them.
