Episode 191: De-Risking Your Business - Business Tip of the Month with Justin Kuperberg of National Pool Partners
Listen to the episode on Apple Podcasts, Spotify, Stitcher, Soundcloud, Google Podcasts, Youtube, or on your favorite podcast platform
Episode Summary
In today’s edition of Business Tip of the Month, we’re joined by Justin Kuperberg, Chief Development Officer at NPP.
Our discussion centers on de-risking your business. What are the fundamentals you need to know when preparing your business for the future?
Justin touches on the importance of earnings, accountants, employees, customers, and the economics of the business.
Topics Discussed
00:52 - A quick introduction to Justin
01:28 - What does de-risk your business mean?
03:10 - What you should know about earnings
04:08 - Why do you need a good accountant?
05:37 - Why you should take care of your employees
07:01 - Price to the market & take care of customers
08:45 - Know the economics of the business
Key Quotes From Episode
As a seller, you really have to look inside your business, and put that hat on of the buyer, and where would they poke holes in my business? Where would they see some risk, where their future cash flow could be impacted
Focus on what you're good at. Customer service, continuing to attract and retain good paying customers, treat your employees well. These things seem like no brainers, but many businesses forget those fundamentals
Go understand the economics of your business, because that will help you explain to a future purchaser where the opportunities are and where that risk could be mitigated
