Staying focused is possible if you have the determination to succeed. Remember, it’s up to you to set your goals for sustainable business growth. Join Dr. Tracey Jones and Michelle Seiler Tucker as they discuss business owners’ mindsets and mistakes. Michelle is the Founder and CEO of Seiler Tucker Incorporated. She and her firm have sold over a thousand businesses in almost every vertical and have a remarkable track record of success. In this episode, she shares her professional journey and how she experienced loneliness, weariness, and abandonment in leadership. She emphasizes the need for a clear vision to know what you want and how you could achieve it. She explains her chosen career path, the challenges, struggles, and wins she faced, and tips on filling up the loneliness gap. If you want to learn about getting your entrepreneurial journey up and running, this episode is for you.
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Michelle Seiler Tucker – Leaders On Leadership
I am excited because my special guest is Michelle Seiler Tucker. Michelle is the President, Founder and CEO of Seiler Tucker Incorporated. She holds the M&A MI, which stands for Mergers and Acquisitions Master Intermediary title, as well as the Certified Mergers and Acquisitions Professional CM&AP, and the Certified Senior Business Analyst, CSBA. Michelle also runs many other businesses in several different industries. As a twenty-year veteran of the mergers and acquisition industry, she is regarded as the leading authority on buying, selling, fixing and growing businesses. She and her firm have sold over 1,000 businesses in almost every vertical and have a remarkable track record of success. Michelle, I am honored to have you on the show.
Thank you, Dr. Tracey. It’s a pleasure to be with you.
I especially love it because I became Dr. Tracey because my dissertation was studying a merger that went south that turned into a crisis event. I studied two credit unions that looked good on paper, but then some attitudes got in the way and it went south, and at the end, they pulled it out. I was all fascinated by this. Michelle, thank you so much.
You’re welcome. You mean some ego got in the way.
Merging companies is easy. Merging people is hard. On paper, it looks great, and I want to hear you talk all about that. Our readers are always like, “How do you meet all these tremendous people?” Michelle reached out to me. We’re going to talk at the end about her book that came out, her Exit Rich. She also knows a dear friend of mine, Sharon Lechter. Could you share a little bit about your relationship with Sharon?
I met Sharon Lechter years ago. I want to say the first time I met her was at CEO Space. I’m sure you have heard of it. I spoke at CEO Space and she was a keynote speaker that year. We met there and then we met at several other events like Secret Knock with Greg Reid, Erik Swanson and that whole network. We spoke on the same stage and we got to know each other a little bit. We got to know each other but were not close friends or hung out all the time because there’s not a time for that at these events. I fly in, I fly out. When I was writing Exit Rich, I was trying to make all the lists.
I was trying to make The Wall Street Journal and New York Times and all the list. My good friend, David Corbin said, “You should think about Sharon Lechter being your co-author because she was a co-author for Rich Dad Poor Dad. She’s a New York Times bestselling author five times. You should consider her.” I said, “Do you think she’s going to like my manuscript?” He goes, “Michelle, she’s going to love your manuscript.” He read my manuscript and he loved it. He sent it to her. She said, “I absolutely love it. I will add the mentor’s corner after each chapter.” That’s how we began working and writing together. That’s how we both wrote Exit Rich together.
For our leaders out there, you heard Michelle say, “Will she like it?” We all struggle with these things, but leadership is all about connections. My father always said it’s the people you meet and the books you read. To our readers, you get to meet the tremendous Michelle Tucker and we’re going to talk about her book at the very end.
Can I say something? It’s not just the people you meet. It’s what you do with those relationships. We can meet great people all day long. It’s all about connecting.It's not just the people you meet, it's what you do with those relationships. Click To Tweet
It’s the same with books. I can sit there and look at it and be taught, but until it’s caught, all the books in the world won’t help you. An absolutely phenomenal point. I’m sure you’re going to dive into more of that. We are here because this show is for seasoned leaders. They’re so hungry to hear from people like you that have walked the walk, and have the battle scars to show it. Leadership is tough but it’s also what makes life worth living. My father did a speech called The Price of Leadership many years ago. In it, he says that there are four things that you are going to have to pay if you truly want to be a leader and not align or a leader in name only.
The first one of those that he talks about is loneliness. We quip and say, “It’s lonely at the top.” That’s why a lot of people don’t want to step into leadership because you are breathing different air. Can you unpack for me what loneliness means to you as a leader may be at a time in your career where you went through it? Also, some words that you would have for our leaders who are in a season of loneliness?
I’ve experienced loneliness at different times in my career. One time that comes to mind very quickly is when I wasn’t in my entrepreneurship role when I was working in Corporate America. I was working for Xerox and I was the Regional Vice President. I started out in sales. Xerox recruited me. Within six months, I was promoted to Regional Vice President, and all my friends, I’m now their boss. I was in charge of over 100 salespeople. To me, that was a lonely position because all of these people were my friends. I beat many of them. They threw their hat in the ring and interviewed for the position as well and I had only been at Xerox for six months. They changed the policy to promote me.
A lot of these friends, I guess weren’t really my friends because they stopped talking to me after that. I was in Corporate America. I have scheduled follow-up meetings with higher-level management. At Xerox, we all had fun. We all went out together and did things together. We were like one big happy family in the sales team, but when I got promoted to management, that completely changed. That was a big-time when I felt lonely.
As far as what I do now, there are times because when we’re doing multimillion-dollar transactions, there is not always someone that we can bounce ideas off of at that level. Sometimes, that gets lonely because your network equals your net worth, and the more successful you are sometimes is when your friends change. You don’t hang around the same people you used to hang around with. You don’t associate with the same people you used to associate with for a multitude of reasons. That can be a lonely point, especially if you haven’t replaced those friends with new friends.
I’ve heard it said new levels, new devils, so that’s new prompts, but I love that you put it about the more successful you are, that’s when your friends change. We’re reading a book, Journal of a Climber. It’s almost like when you get to the next peaks, not everybody who was on the previous peaks, a lot of people are going to lag behind and be like, “I’m plateauing.” What would you recommend for the leaders out there? I know you’re dealing in an industry where it’s very proprietary and you can’t just go out there. How did you fill that loneliness gap? Where do you fill yourself up?
Fortunately for me, I own other businesses. I fill that gap up with other companies I own and I have friends in those companies. I have relationships with those companies. I have people of like-mind in those companies. For me, it’s other businesses that I own and the friendships that I have. It’s not just M&A. It doesn’t completely consume me.
I love that you brought that up for our readers too. You may be like, “I’m struggling with one company. Look at Michelle.” Her point is that you can have others. I have my professional group. I have a mastermind group. I have my physical health and spiritual coaches. They may be in different areas of expertise, but I love that she said that we’re like-minded, so we’re value-congruent. I know they got my back. Loneliness isn’t always about looking for an answer, but about knowing that you’ve got somebody in there with you.
There are lots of ways to fill that void. There are other things you can try. For the very first time, I told my daughter, I’m like, “We’re going to play tennis.” I haven’t played tennis since high school. She and I have been taking tennis lessons every weekend and I love it. Get outside and do something different that you’ve never done before. Try something new. If you like writing, write a book. Try something different that you’ve never done before. That helps a lot of times to fill the void. Plus, I always say when you’re lonely, be of service, be of value to someone else. When we’re feeling lonely, to me, it’s more about suffering. You’re thinking about yourself. When you’re in your pain, it’s because we’re suffering. If we’re suffering, are we being selfish? Sometimes it helps to reach out and be of value to someone else.
That’s loneliness. The next thing he talked about was weariness. When you are leading the charge or you are responsible for hundreds of people making these deals, it’s taxing because we don’t get to sit and vegetate a lot. We’re always moving physically, using our brains intellectually, pouring out into people spiritually. How do you combat weariness so you can stay at the top of your game?
I tell you for me, it is very taxing because if you think about what we do, we’re responsible for pretty much everybody because we’re responsible for the sell-side. We’re responsible for that seller. We’re responsible for their employees and what happens to the employees and employees’ families, the vendors, and JVs that they work with. We’re responsible too for those buyers, making sure that we set them up for success, their employees, their families. It’s a lot on our plate.
We’re not just doing a deal. We are their psychologist, babysitter, lawyer, and CPA. We wear all these different hats, and it can be very taxing and difficult because every deal falls apart and we have to put it back together again. The whole world of that transaction is on our shoulders. There have been many times where my deal has fallen apart, and times where I’ve called my husband and go, “Why am I in this? Why do I do?” My husband reminds me.
I get to that point, not very often, but sometimes we’re like, “It’s too much.” I always say to myself, “This too shall pass.” It’s difficult, so I have this philosophy, but I have to practice. My philosophy has always been, “If it doesn’t affect my life in the next five years, then I’m not going to let it bother me.” My slogan has always been, “This too shall pass. I’ll try not to kick your ass.”If it doesn't affect your life in the next five years, then don’t let it bother you. Click To Tweet
You are my sister from another mister. I cannot believe I haven’t thought of it.
I own a company in Houston and my partner called me up one night and he goes, “I’ve had it. I can’t take it anymore. These employees, I’m about to fire them all.” I go, “Don’t fire them all because you’re going to be doing everything.” He’s like, “What do I do?” I said, “You put up a big sign in front of your computer that says, ‘This too shall pass. I’ll try not to kick your ass.” He goes, “I love it.” He put the sign up everywhere.
That reminds me of my dad. People would be like, “I quit. I don’t like the people I work with.” He’s like, “You’re going to hate them anywhere you go. You might as well stay here where at least you know who you’re dealing with.” That is so funny. Weariness, I love that and I love that you brought up for the entrepreneurs that may be in the valley. The valley has an endpoint and then we come out of it. It’s not the journey to the bottomless black hole pit. There always is a bottom and life is a pendulum. Some days, you’re going to have the best week of your life, the next week could be the worst, but you got to keep going.
You got to keep going and then you have to focus on your why. What is your why? Your why needs to serve a bigger purpose in yourself. When people get depressed, when people get so caught up in things, I think a lot of times, as Tony Robbins says, “That’s when you’re in a suffering state.”
You hit on that earlier and I wrote it down, “Pain stems from self-focus.” The more you orient everything back to you and get in what my dad would say as thumb-sucker mode, you make it worse. You get in this rumination. Psychologists call it that. You can give your body a disease of the mind because you’re on this negative thinking.
You’ve got to take the focus off of yourself and put the focus on other people. There’s always somebody that has so much force than you. There are so many people that are lonely. You need to be of service or be of value to someone else.
That’s a wonderful way. If you are feeling weary, take stock of how much you are focusing on yourself because self-focus will deplete you. I know of no quicker way to end up feeling miserable than to withdraw into myself and that burden of the gilded cage where it’s just me, myself and I, and having my pity party.
It can be easy. It doesn’t have to be complicated. There have been times where I’ve been at a restaurant with my daughter and I see a family that looks like they could be struggling. We buy them dinner and then we leave. We go to the grocery store and we bought somebody’s groceries for them before they look like they’re struggling. My daughter gets to see that. She gets to see giving back and it makes you feel so much better when you do something for someone else versus always thinking about yourself.
That’s how we get refreshed a lot of times.
It can be so simple like at a restaurant, buy somebody an ice cream. It doesn’t have to be expensive.
The next topic my dad had addressed was abandonment. Typically, abandonment has that negative connotation. Fear of abandonment. I’m in pet rescue so abandonment is a very bad thing, but he talked about abandonment in that you need to stop thinking about what you like and want to think about in favor of what you ought and need to think about. I’m like, “Dad, how’d you get so successful?” He’s like, “I do more to contribute to my failure than I do in my success because I am not being very hyper-focused.”
As you said, it’s a habit. You and I, everybody out there reading, we don’t get up different. All of a sudden, our brain’s like, “Every day, you got to do this.” How do you stay focused, Michelle? You’ve got so many different pieces, companies and deals cooking. You must be tremendously streamlined and laser-focused to keep all the pieces moving. What are some words of advice for our readers?
It’s all about habits. First things first, I have different habits on the weekends than I have during a weekday. On a weekday, the first thing I do is always give gratitude and I do that in front of my daughter so she sees me. I always give gratitude first thing in the morning, and a lot of times before she gets up, I have to do it again. I always give gratitude when I’m alone.
I get up at 4:30 AM, give gratitude and workout. I read a chapter in a book that I’ve been working on that I’ve been reading daily. It’s hard for me to read a book every day or a book a week because I do have a daughter and I do have businesses. I’m pretty busy. I focus on results. I don’t only focus on to-do’s, but I focus more on energy management versus time management.
What I focus on is those things that I do better than everybody else that I can’t delegate, and I delegate the rest. I focus on energy management. Energy management or focusing on those things that only you can do. I’m focused on results, not on the task. As far as energy management, I encourage everyone to keep a diary. Keep a journal of the last 30 days and write down everything that you do, from the minute you get up to the minute you go to bed. Even from brushing your teeth, showering, etc. There are three different buckets. You get the A-bucket, B-bucket, and C-bucket. The A-bucket is those things that only you can do like, “Only I can write my books.” I tried a ghostwriter. It was a terrible experience for me. Only I can write my books. Only I can do my only podcast. Only I can be a guest on a podcast. Only I can negotiate these multi-$50 million, $70 million, $100 million transactions. Unfortunately, nobody else in my company can do that yet. Only I can do that. That’s my A bucket.Energy management is focusing on those things that only you can really do. Click To Tweet
My B-bucket is those things that I’m good at, but I can delegate. Other people can do them too. I’m good at evaluations and analyst work, but I have a team of analysts that I can delegate that to because it’s very time-intensive and it’s very energy draining. I can write the SIMS, these prospectuses that go to our clients, but I have a team of writers and it’s very time-consuming. I delegate those things that I can do that I don’t need to because other people can do them as well, if not better.
The C-bucket, all those things you should never do. People are going to laugh at me, but I’m going to say go to the grocery store. I haven’t been to a grocery store since Hurricane Katrina and I don’t plan on going. To me, that’s an energy zapper. Mowing the lawn is an energy zapper. If you asked me to clean my house, it’s an energy zapper. These are energy zappers that completely deplete your energy. We have to take stock of what we make. What do we make per hour? If you make $100 an hour, do you want to do these types of tasks that you can hire somebody for $10, $15 even $20 an hour? We’ve got to figure out what our time and energy is worth and outsource the rest.
One of my favorite quotes is Dan Sullivan’s. He said, “Delegate everything but genius.” I’m sure you’ve read Michael Gerber’s The E-Myth Revisited. If you’re an entrepreneur, you have to have managers and technicians. We know how to do it, but you got to let them do your thing, so you’re up here doing the E thing.
Even smaller business owners like the solopreneurs, I see a lot of women starting businesses from their homes, but they’re still taking care of their kids and cleaning their house. They’re still trying to do everything. As I said, if you don’t have an assistant, you are the assistant. You need to take inventory of what you do every day. Focus on your genius and delegate the rest.
How long did it take you before you realize that, before you said, “I think a lot of solopreneurs are people that are very small?” When do you see that tipping point of when you need to bring in additional help? That’s always the tough point because then there’s training, there’s that added cost. How would you recommend doing that?
You need to bring people in. I’ve always bought people on right away. I’ve never been a solopreneur. There’s a big difference between bringing a W-2 in, bringing 1099 in, or bringing an intern in. If you’re a solopreneur, you might not start out with a W-2. You might start out with a 1099 or an intern. Everybody forgets that there are all these colleges. I’m sitting in between five of them and we have waitlists for interns, analyst positions and marketing positions. You need to go to your local college. You need to form a relationship with them. You need to get on the bulletin boards. You need to advertise in these communities and get some interns.
I’ve been telling my company in Houston for quite a while that you need to work through and try to get interns and also 1099s, and if they’re good, then you convert them. You got to start somewhere and as a solopreneur, that’s where you start and you start. You start right away because you’re never going to grow. It’s like the six Ps in Exit Rich. The first P is people. You don’t build a business, you build people, and people build the business. Even as a solopreneur, you’re never going to grow your business unless you get somebody in there helping you.
I had a brilliant intern and she came on as 1099. She’s from my alma mater too. I never would’ve thought of that. That fell in my lap but I got to echo that you need to vet people and see their skillset.
I never hire anyone anyway without having a workweek when I come in and work for a week to make sure they’re a good fit. Yes, an internship is great. We have an internship program where they go from a paid internship program to a higher permanent position if it’s a good fit. Internships are great. It also gives you a chance because everybody’s like, “It’s hard to work with Millennials and Gen Zs.” I don’t find that to be true. I think it’s hard to walk with any demographic. It depends upon the right person. You have to get the right one. You have to get the right Millennials and Gen Zs. I happened to get all the right ones.
That’s great insight because we can’t do it all.
One thing that I want you to know is if you do bring on an intern or you do bring on that 1099, you have to have them sign an agreement that states you own the work that they have produced. If they’re writing articles, blogs, taking videos or photographs or any creative content, you want to make sure that you own that content. There are many situations or lawsuits that have occurred because 1099 sued the employer saying, “I own that content because they’re trying to get paid off of it.” I’ll make sure they sign that disclaimer.
Lastly is vision. My father always said, “Vision is seeing what needs to be done, but then it’s also just doing it.” Many people will be big talkers. I remember those guys talking about the Law of Attraction. There is no Law of Attraction without action. Can you share with us your vision and how you continue to hone your vision? When you left Xerox and sales and said, “I’ve got the entrepreneurial bug,” how did you go into the field that you went into and how do you keep honing your vision?
In my book, Exit Rich, I have knowledge is power and I give some unique case studies of things that have happened like Dollar Shave Club was about to go on bankruptcy. They made one little tweak in their process and now they are a multi-billion-dollar corporation. I say implementation is key. You can have all the knowledge in the world, but if you don’t implement it, you’re never going to be successful.
Vision is huge. When I left Xerox, I did it with a parachute. I was missing entrepreneurship because I had businesses before Xerox. I owned different businesses in different verticals. Now here I am working in Corporate America and I missed entrepreneurship, but I didn’t want to leave my six-figure, great benefits position either.
I was climbing up that Xerox ladder quickly and so I knew there were big plans for me at Xerox. I was looking to buy a business on the side and keep my day job, but I stumbled across a franchise or my husband knew one of the founders, and they only had a couple of franchises. I said, “I want to buy a franchise.” They go, “No. We know of you. We know your nickname was The Closer.” My nickname at Xerox is The Closer.
They said, “We want you to partner with us, help put us on the map and we’ll give you a franchise.” I said, “Okay, but you’re not very successful. I’m not going to leave my great position with Corporate America for a company that is not very successful. I’ll tell you what I’ll do. I’ll try it out for six months and see how it works.” I did that for six months, made more money in six months than I did a whole year at Xerox, so I knew that was the right path. Plus, I also met with other franchise owners that wanted me to partner with them. I started my franchise sales, consulting and development business. I did it with a parachute.
I often tell people, “Don’t just burn the ships.” You only do that in war. If you can have a nice transition that alleviates a lot of the nail-biting, it saves the stress on the family.
Most entrepreneurs don’t have a problem with vision. Most entrepreneurs are great at vision but they’re poor at integrating their vision. Every entrepreneur needs a great integrator. Whether that’s the traction system if you believe in traction or whatever system you study and believe in, every great entrepreneur needs a great integrator. Entrepreneurs are not always the best at integrating and all the devil’s in the details. Entrepreneurs are like, “This is my vision. Make it happen.” We need somebody to help us make it happen.Most entrepreneurs don't have a problem with vision. Most entrepreneurs are great at vision. They're poor at integrating their vision. Click To Tweet
How do you find your integrators? How many integrators do you have? Do you have one per business?
No, I wish. I was on the phone with an integrator. Good integrators are hard to find. I don’t have an integrator everywhere. I have COO’s, Chief Operating Officers. We are looking at hiring an integrator for a couple of our companies. We’re interviewing different ones right now, but it’s like anything else. You got to make sure you do your due diligence, get references, etc., because you want to make sure you get the right one.
Can you unpack that? In my previous career, I was in operations. I love operations. When you say integrator, what does that mean? I always tell people I’m looking for a hybrid project manager that can do all the ops stuff but look to pull the finances and everything together. What do you define as an integrator?
Have you read Traction? The EOS system?
Yes, I have.
They have the implementer and then they have the integrator. The implementer is someone who sits down, meets with you, and asks you all the questions about where do you see yourself, where do you want to see yourself. They’re asking the questions and helping to craft a strategy. They’re not the ones integrating. Traction is a big one if you want an integrator. An integrator is somebody who’s in the visionary’s head and takes those ideas and knows what’s going on with each one of the teams. They work with the teams to make sure that everybody’s working towards one common goal. They make sure that everybody’s in alignment, and that everybody understands the vision. That’s what an integrator does.
I remember when we were studying our merger that went south, one of the terms and the motivation in the PhD was collective efficacy, which means, “Does everybody agree with this merger?” You could see clearly half of them did not. You already had a schism. You can’t integrate the entrenched. That’s fascinating but I love that you said integrators have to be in the visionary’s head.
It’s a big difference between an integrator and a COO. What is a COO supposed to do?
Day-to-day operations, tactical, a little bit of strategy, get stuff done.
Make sure you cross the T’s, dot the I’s, quality control. The integrator is taking that vision run out of the entrepreneur’s head and integrating it into the COO’s head and into each one of the different departments. There’s a small group of integrators. I was on the phone with one of them and I said, “You got a group. How many?” She goes, “Five.” One of the biggest problems I have found with the integrators is that they take on too many clients, and then they don’t have any integrators underneath them.
They can’t scale the integration. You need to integrate the integration.
That’s one of the biggest problems. There was a lady in Houston and we were looking at her. I’m like, “You already have a couple of big clients, one that I know very well, and they don’t want to let you go.” That’s a big problem with an integrator. Sometimes, you could take somebody like yourself who’s been in project management and teach them or certify them to be an integrator. This lady in Houston didn’t just come from EOS. She was an operations manager. She was a CFO. She’s got lots of different skillsets but she’s been trained by the EOS system.
Coming back and running dad’s company, I’m an engineer by trade. I was in the military. I’m a system and processes girl. I’m a total left-brainer, and then I get into the creative space where it’s a legacy business and I’m like, “I have to flip over and become that side.”
You don’t have to flip over. You’re not flipping over. You just become ambidextrous, right brain and left brain. I do this with my daughter. I tell her, “Brush your teeth with your left hand. Throw the ball with your left hand. I want to see you color with your left hand.” We use a very small portion of our brain. We all have the capability of using so much more of our brains than we do on a daily basis. One of the biggest things is teaching yourself how to be ambidextrous. Just get out of the pattern and start using your left hand more.
We covered loneliness, weariness, abandonment and vision. You gave us quite a few great soundbites, thoughts, and insights on leadership. Is there anything else you would like to share with our readers that we haven’t touched on so far?
The biggest thing is back to loneliness because I’ve heard this from other entrepreneurs. They’re like, “Michelle, it’s so lonely. I don’t know who to call when I’m making a mistake.” It can be lonely but here’s the bottom line. There are so many entrepreneurs. There are 30.2 million businesses in the United States and the majority of them are small businesses employing over half the US workforce. There are a lot of entrepreneurs all around us. There are masterminds, networking groups and women’s associations. Your net worth equals your net worth, so you don’t have to be lonely.
The biggest thing I would say to entrepreneurs is don’t do it alone. That’s the biggest mistake business owners and entrepreneurs make. Find yourself a mentor, somebody that’s been down the path you want to travel, but not just any mentor. It can’t just be any mentor. Sometimes people go to speaking events. There are good people who speak and not so good people who speak. There are ethical people who speak and not so ethical people who speak.
Don’t just go to an event and hire somebody as your mentor. Don’t do it that way. Seek them out and look for somebody in your industry. It doesn’t necessarily have to be in your industry but somebody who’s been highly successful and has traveled down the path you want to travel. That will shorten the learning curve dramatically. They will shorten your path to success dramatically.
This is my quote. I always say, “It’s hard to read the label from the inside of a bottle.” You need an outsider’s perspective to read the warning signs and keep you out of the danger zone. I’m going to quote a book, “What got you here won’t get you there.” By the way, you will never grow a business beyond what you can grow as an owner. I tell my partners that, “I’m never going to grow your business beyond what I can grow you.” If you want to grow your business, you have to grow as an individual.
How do people get in touch with you and how do they connect with you? I want to talk about your book, Exit Rich.
They can go to SeilerTucker.com. They can connect with me on social media. It’s @MichelleSeilerTucker on Instagram. Connect with me on LinkedIn, Michelle Seiler Tucker. Michelle Tucker International on Facebook, and @MSeilerTucker on Twitter. My book, Exit Rich, which is an Inc. original, The Wall Street Journal bestseller, USA Today bestseller. I have the numbers in the New York Times, I don’t know what happened. It’s endorsed by Steve Forbes. Steve Forbes says, “Exit Rich is a gold mine because entrepreneurs leave way too much money on the sale of their business.” Exit Rich is not just for selling your company.
Steve Forbes also says that 80% of businesses will never sell. That should be a big wake-up call for business owners because you have less than a 20% chance of success. The number one reason for that is because business owners treat their business as their baby, not as a valuable asset that it is. They don’t build a business that somebody wants to buy because most entrepreneurs built a glorified job. They go to work every day versus a business that works for them.
Exit Rich is all about building a sustainable business that you can scale, and when you’re ready, you will have a sellable asset. Sharon Lechter, who you’ve met and a good friend of yours, is my co-author. She’s a New York Times Bestselling Author from Rich Dad Poor Dad. She’s a CPA, financial literacy expert, and she writes the mentor’s corner after each one of my chapters. As a bonus, her husband is an intellectual property attorney, and he adds his two cents as well under the proprietary section, which is extremely valuable.
Kevin Harrington, the original Shark on Shark Tank, wrote the foreword. We got glowing testimonials from Jack Canfield and Mark Victor Hansen of Chicken Soup for the Soul. We have Les Brown and Brad Sugars from ActionCOACH, not attraction but action. We have Brandon Dawson from Grant Cardone’s team. We got some of the oldest but the greatest, Tom Hopkins and Brian Tracy. We’ve got some good testimonials.
As far as ordering Exit Rich, if you’re outside the United States, I encourage you to go to Amazon because of the shipping cost. Inside the United States, I encourage you to go to ExitRichBook.com because it’s $4.79 plus shipping. We’ll email you the digital download. We’ll ship it to your doorstep. We’ll give you a lifetime membership into the Exit Rich Book Club. We have video content and me doing deep-dive training on these different strategies and techniques that I’ve been teaching in the trenches for many years, plus documents to operate and to sell your business.
We have sample org charts, policy and procedure manuals to sell your business, a sample letter of intent, purchase agreements, due diligence, checklist, closing docs and more. All the documents you need to operate and sell your company are there for your review and your download. Tracey, I can promise you, all these documents, if you went to recreate these, it will cost you over $50,000. I know because I spent the money. We’re also giving a 30-day free membership to Club CEOs. That is an entrepreneurship mastermind where we help business owners ask transformational questions so they can pivot and build that sustainable, scalable and sellable business. That’s all at ExitRichBook.com for $24.79.
Thank you so much for putting that out. I can’t wait to get that. That’s a lot of value indeed. Michelle, I want to thank you so much. Your wisdom, your expertise, a woman of your caliber, spending time with us. I know you’re humble, but I am in awe of the truth you dispense. Thank you so much.
Thank you for having me. It’s a pleasure being with you.
I enjoyed the conversation. I’m so thankful you’re in our Tremendous Tribe. For our readers out there, thank you. If you like this episode, you get on there and you hit the subscribe button. Please do us the honor of a five-star rating, and share and leave us a comment. We answer all your comments. For our leaders out there, thank you so much for being a part of our Tremendous Tribe and paying the price of leadership.
You can go over to TremendousLeadership.com and you can download your free copy of The Price of Leadership. You can see how you can pay the price of leadership as well, just like Michelle and all of our other guests did. Without further ado, thank you so much. Thank you again, Michelle, and have a tremendous rest of the day.
- Seiler Tucker Incorporated
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- Rich Dad Poor Dad
- The Price of Leadership
- Journal of a Climber
- The E-Myth Revisited
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- Chicken Soup for the Soul
- Amazon – Exit Rich
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