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Welcome to the Service Business Mastery Podcast!
Visit our website for more episodes and insights! www.servicebusinessmastery.com
In this episode, recorded live at the Service World Expo 2024 in Orlando, Florida, hosts Tersh Blissett and Joshua Crouch engage with Joe Strittmatter, Former Owner, Strittmatter A/C, Heating & Plumbing, Former Regional President at Granite Comfort LP, and Brian Cohen, a business strategist specializing in HVAC transactions at SF&P Advisors. They delve into the challenges of selling a service business, covering everything from the emotional aspects to strategic planning. Joe and Brian provide valuable insights on navigating business negotiations, effective succession planning, and preparing for life after the sale.
This discussion emphasizes crucial aspects such as business valuations and ensuring long-term success for both the seller and the company.
Timestamps ⏰00:00:00 - Episode Recap 00:03:57 - Episode Intro and Joe Strittmatter Talks About His Business Journey 00:06:19 - Meeting Brian and learning from a failed business deal. 00:08:05 - Brian Introduces His Role and Experience 00:11:30 - Talking About Planning for a Business Owner's Future 00:14:14 - Managing and protecting assets after selling a business and legal insights from Service Nation. 00:23:32 - Market Trends with Hot Topics and Economic Predictions 00:26:12 - Discussing Call Volume and Business Efficiency 00:33:22 - The Role of AI in Business Efficiency 00:41:40 - Discussing Dispatch Software and Technician Revenue 00:44:41 - EBITDA's Impact on Business Operations and Marketing Decisions 00:57:23 - The Importance of Understanding Break-Even Points in Business 01:01:38 - Closing remarks on Investment Trends and the Impact on Business Multiples
In this episode, here's what you can expect to learn:
Planning for Business Sale Success: Learn how careful planning improves the success of selling businesses and makes operations better.
Handling Important Roles: Find out how Joe Strittmatter and Brian Cohen manage important team members and keep everyone informed during business changes.
Using Emotions and Smarts in Talks: Discover how using feelings and smart planning helps in business talks.
Mixing Knowledge with Plans for Better Results: See how using deep knowledge and careful planning leads to better business outcomes.
Growing Service Companies Well: Learn strategies for growing service businesses well, increasing their value, and making stakeholders happier with insights from Joe Strittmatter and Brian Cohen.
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