How Do You Plan A Successful Exit from A Personal Brand-Based Business? – Fastlane Founders Clips
In this video, CEO of eBusiness Institute and Website Investor, Matt Raad shares expert insights on successfully transitioning personal brand-based businesses. He reveals the importance of planning exits a year in advance and implementing a gradual 6-12 month transition period. He explains how to systematize operations, gradually transition leadership, and maintain business value that preserves both the personal brand and key stakeholder relationships. Watch the full episode to discover how to successfully execute a “double exit” – selling both your business and transitioning your personal brand without losing value.
What you’ll learn:
00:00 Matt Raad and Jason Barnard
00:09 When Should Entrepreneurs Start Planning Their Exit Strategy for Personal Brand-Based Businesses?
00:33 Why is Rushing to Sell a Business During Burnout a Critical Mistake to Avoid?
00:44 How Do Entrepreneurs Systematize Online Personal Brand-Based Businesses for Successful Exits?
01:00 How Do Successful Entrepreneurs Smoothly Transition Ownership to New Buyers?
01:20 How Long Should Entrepreneurs Stay Involved When Transitioning Their Business?
02:00 How Do Entrepreneurs Introduce New Owners to Machine Audiences Like Search and AI Assistive Engines?
“This clip is taken from Fastlane Founders and Legacy with Jason Barnard.”
https://www.youtube.com/watch?v=9hkrffVZ0N4
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Transcript from How Do You Plan A Successful Exit from A Personal Brand-Based Business? – Fastlane Founders Clips
Matt Raad: So businesses built up heavily around the owner. So if you’re in that situation and even if you’re a startup and you’re starting to build a business, my advice is start thinking about the exit from day one. But especially if you’re at the point where you are thinking about exiting, you want to do a big sellout somewhere or a small sellout, doesn’t matter. The main thing is, even if it’s built around you and your personal branding, as long as you’re thinking out in advance. If you’ve got a business built around a personal brand, don’t just suddenly decide to sell it because you burnt out or whatever and try and sell it within 30 days.
That’s not going to work. What you typically need to do is plan it out at least a year in advance. And there’s simple things you can do no matter what the business is. But particularly with online businesses, you can start systemizing things so the key roles, so an investor or a buyer can look at it and go, okay, there’s a large element of the personal branding, but then there’s also a large element of the day to day running.
This is run by a team. What you do is you do a transition period. So typically, and we used to do this in bricks and mortar businesses. You just don’t introduce yourself as the new buyer for straight up. And that’s the main trick. You just as long as there’s a six month or ideally a 12 month. It’s not a handover as such, it’s just gently introduce the new person. So if you’re the entrepreneur that owns the website, you just help, you’re willing to stay on and help the new buyer transition over a 6 to 12 month period, then it’s a lot easier than you think.
Not to say it’s perfect, but it certainly can be achieved. We’re seeing literally sites held for tens of millions that are based around a particular food blogger. And the brokers are telling me they sell them, no worries. That’s basically how you do it. Introduce a team and also you introduce the buyer over a period of six months.
Jason Barnard: What I hear there as well is you’re introducing the buyer as the new editor and then eventually the new owner to the people. And what we would do at Kalicube and my immediate reaction, my brain’s going around saying now we need to introduce it to Google, Bing, ChatGPT, Perplexity. And that’s where we would be useful.
Matt Raad: That could speed it up.
