Our special guest Mark Timm, a seasoned entrepreneur shares how he successfully exited seven businesses, the last for over $10 million.
In this episode, Mark delves into the art of achieving an elegant exit, where both parties experience a win-win outcome. Join us as we explore the strategies, negotiations, and key considerations that contribute to a harmonious and lucrative business exit.
Mark Timm has been a serial entrepreneur and exponential thinking practitioner for over two decades. He has started more than a dozen companies and several of which have multiplied and been sold. He has consequently participated in several equity events. His businesses have been built with international footprints in more than a dozen countries and powered by global supply chain connections and across diverse industries from retail to wholesale and from product manufacturing to digital marketing and real estate.
Mark has spoken professionally for over twenty-five years, giving thousands of speeches to over a million people in forty-eight states. In addition to his entrepreneurial efforts, he has worked for organizations including at The White House, Kellogg’s, and USA Today.
Mark’s considerable success in business and the digital marketplace led to his partnering with Kevin Harrington to 100X Kevin’s own digital brand. Mark is now CEO of Xponential, Inc., a partnership with Kevin Harrington and his son Brian Harrington.
Mark’s greatest value comes from being a master collaborator who brings people together to accomplish far more than anyone imagined. His strategic vision enables him to see future possibilities and strategically position assets and systems to take full advantage of what’s next.
In this episode, Steve, Mary, Richard, and Mark discuss:
- Having an elegant exit where it’s a win-win on both sides.
- Practical selling strategies.
- Mark’s relationship with the Zigler family and the lessons he has learned and is still learning.
- Dos and don’ts of exiting a company.
Key Takeaways:
- “You can have everything in life you want if you just help enough other people get what they want.” Zig Ziglar
- Being an entrepreneur is about failure, the question is, are you going to get back up.
- No is the 2nd best word you can hear when selling because you are talking to a decision maker. If they can say no, they can say yes just as easily.
- Nothing meaningful happens without a sale.“Every successful entrepreneur that you see, they didn’t get there by themselves, they had somebody along the way that was inspiring them and encouraging them.” — Mark Timm
