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The primary grounds for using an auction is usually to enhance the selling price of the company. A auction is seldom found in the actual sale made regarding smaller businesses.
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#86 - In this episode, Travis speaks with successful entrepreneur Michael Michalowicz. Michael is a best-selling author and business owner, who established businesses and was even able to sell one business for millions of dollars. His experiences made him who is now and he gladly shares what he went through and how entrepreneurs could learn from his past mistakes. Travis and Mike share their secrets to success and how to make businesses thrive through hard work and dedication to your business. According to Mike, an entrepreneur should first find their purpose in establishing their business and then finding a niche where they can concentrate their efforts and resources on.
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Most entrepreneurs create a company for one reason – to provide themselves with an income. However, you should consider an important, second reason – to create an asset that is a business. Let’s consider the question of how to sell your business. But, before you can sell it, you have to build a business worth selling. This article is about establishing value.
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